DUBLIN, March 5, 2024 /PRNewswire/ — The “2024 Latin American Temporary Cooling Market” report has been added to ResearchAndMarkets.com’s offering.
This comprehensive analysis reveals a steady upward trajectory in the Latin American Temporary Cooling Market, with an anticipated compound annual growth rate (CAGR) exceeding 5% from 2023 to 2030. Starting at a valuation of $175 million in 2023, the market is forecasted to surpass $250 million by 2030.
The industrial and commercial sectors serve as the primary drivers of this market. Brazil leads with over 45% market share, followed by Mexico with over 25%, and Argentina with over 10%. The market’s progression is closely intertwined with each nation’s economic prominence within the region, climatic complexities, lead times for acquiring new equipment, and broader macroeconomic factors such as interest rate fluctuations that influence demand.
Despite favorable growth prospects, the Latin American temporary cooling market faces challenges, notably economic volatility and political uncertainty within the region. While these factors can stimulate rental activity due to cautious capital expenditure, they also foster apprehension, impeding long-term planning and investment in rental infrastructure.
In Latin America, the temporary cooling rental market predominantly caters to immediate needs arising from machinery breakdowns and industrial downtime. This reactive approach underscores a prevailing preference for ownership over renting. However, there is potential for a paradigm shift as businesses increasingly recognize the economic and operational advantages of the rental model. Nevertheless, this transition from traditional ownership is gradual, reflecting a prudent approach towards embracing the flexibility and cost-efficiency that renting cooling equipment can offer in the long run.
Amidst an era of innovative service models, the Latin American temporary cooling market is gradually embracing Cooling-as-a-Service (CaaS). This progressive model offers a pay-per-use structure aligning with the growing demand for financial flexibility and operational efficiency. CaaS eliminates the need for significant upfront investments in cooling infrastructure, providing a comprehensive solution covering installation, maintenance, and upgrades. This shift not only addresses the immediate requirements of businesses seeking to optimize cash flow but also aligns with the broader trend towards sustainability by promoting the use of energy-efficient and environmentally-friendly cooling systems.
Key companies covered in this report include Aggreko, Trane, Grupo TECSIR, Tecnogera, A Geradora, and TODOCHILLER, among others. The report offers an exhaustive analysis of the Latin American Temporary Cooling Market, capturing various dynamics such as growth drivers, constraints, market revenues and forecasts, technological trends, and competitive landscape assessments.
Key Market Trends
- Experimental use of rental prior to purchase
- Cooling as a Service (CaaS)
- Manufacturers prioritize rental revenues over sales revenues
Report Scope
This report provides an overview of the cooling equipment rental market in Latin America (Brazil, Argentina, Mexico and Others). The report captures the growth drivers, restraints, market trends, market share by company revenue, market share by equipment type, market share by capacity, market share by end user, competitive supplier landscape and forecasts to 2030.
Equipment for temporary cooling applications enable customers to control the temperature and provide cooling for a variety of applications.
For the purposes of this analysis, rental cooling equipment has been segmented in the following categories:
- Air Conditioners
- Chillers
- Cooling Towers
Customer/End User:
- Industrial
- Commercial
- Events
- Others
Cooling Capacity (Tonnage):
- Less than 25 tons
- 26 to 100 tons
- 101 to 400 tons
- More than 400 tons
The report captures the following information about the Latin American Temporary Cooling Market:
- Market Size, Growth Rate, Revenue Forecasts 2023-2030
- Market Drivers & Restraints
- Market Trends
- Technology Trends
- Market Landscape
- Supplier Landscape
- Competitive Factors
- Strategic Recommendations
Companies Profiled
- Aggreko plc
- Grupo TECSIR
- Trane Technologies
- Tecnogera
- A Geradora
For more information about this report visit https://www.researchandmarkets.com/r/m76cm
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SOURCE Research and Markets
