The HVAC industry is often influenced by the economy and how well the new construction and service and replacement markets are doing. However, there is another growing sector within the industry: the HVAC rental market. According to a new report from Technavio, the global HVAC rental market is expected to grow at a compound annual growth rate of 7.62 percent between 2018 and 2022.
Per the report, the industrial segment held the largest market share in 2017, accounting for nearly 51 percent of the market. Additionally, the U.S. was the leading region for rental equipment the same year, accounting for nearly 41 percent of the market share.