Press release
Machinery Leasing Market Overview 2024-2033 - Market Research, Insights, Demand and Outlook
Machinery Leasing Market
The Business Research Company offers in-depth market insights through Machinery Leasing Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The machinery leasing market size has grown strongly in recent years. It will grow from $408.15 billion in 2023 to $444.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to strong economic growth, growth in the manufacturing industry, growing demand from the automobile industry and growing demand from the increasing construction activities.
The machinery leasing market size is expected to see strong growth in the next few years. It will grow to $619.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to rising healthcare expenditure, rising demand from agricultural industry, increasing number of drilling activities. Major trends in the forecast period include strategic partnerships and collaborations to grow in the market, introduction of innovative products to strengthen their position in the market, introducing digitization platforms, artificial intelligence and machine learning in the machinery leasing market for improving the efficiency and productivity of the machinery, and focus on offering evs as the go-to option for environmentally conscious consumers who want to reduce their carbon footprint.
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Market Segmentation:
The machinery leasing market covered in this report is segmented -
1) By Type: Heavy Construction Machinery Rental, Commercial Air, Rail, And Water Transportation Equipment Rental, Mining, Oil And Gas, And Forestry Machinery And Equipment Rental, Office Machinery And Equipment Rental And Other Commercial And Industrial Machinery And Equipment Rental
2) By Mode: Online, Offline
3) By Leasing Type: Capital Lease, Operating Lease
Major Driver - Start-Up Boom Fuels Leasing Service Provider Market Growth
The emergence of start-ups as major clients of leasing service providers is expected to drive the growth of the machinery leasing market. Start-ups often face budget constraints and may not have the capital to purchase expensive machinery outright. Leasing allows them to access the machinery they need without a large upfront investment. This cost-efficiency is particularly attractive to start-ups looking to conserve capital for other critical expenses like research and development or marketing. For instance, according to Fortunly, a US-based news magazine, in 2022, there were 33.2 million startups in the US, which is a 700,000 rise compared to 2021.
Competitive Landscape:
Major companies operating in the machinery leasing market report are United Rentals Inc, Tokyo Century, Ashtead Group Plc, Fuyo General Lease Co., Ltd., Berkshire Hathaway Inc., Aercap Holdings N.V., Rent-A-Center Inc, Air Lease Corporation, BOC Aviation, Kanamoto Co., Ltd., Liebherr International AG, Aktio Corporation, Nikken Corporation, Asia Machinery Solutions Vietnam Co. Ltd, Mahindra & Mahindra Limited, Infra Bazaar Private Limited, The Alta Group, Hitachi Construction Machinery Financial Leasing (China) Co., Ltd, Shandong Heavy Industry Group Co., Ltd, Lengshuijianghuiying Building Machinery Leasing Co., Ltd, Sanghvi Movers, Indiabulls, Jindal Infrastructure Pvt. Ltd, Finlease, Caterpillar Inc, Kobelco Construction Machinery Co. Ltd, Deere & Co, Komatsu Ltd, Volvo Group, Doosan Infracore, Liebherr Construction Machinery Rental, Battlefield Equipment Rentals, Ahern Rentals, Leaseplan, Enterprise, Oak Leasing, Sixt, Volkswagen Credit, Deutsche Leasing Vostok JSC, VTB Leasing Business Lease Group, KAMAZ Leasing Company, Volvo Finance Service Vostok, ALD Automotive, Interleasing Ltd., VEB-Leasing, Blueline, AIG Commercial Equipment Finance, Hitachi Capital America, TCF Equip, Great America Leasing Corporation, M & I Equipment Finance, People's Capital & Leasing, Relational Technology Solutions, Bigrentz, One Source Equipment Rentals, Inc., Diy Rentals, Scaffold King Rentals Inc, Allied Equipment Service Corporation, Macallister Rentals, Southside Rental Center Inc, Master Rental Center, Contractors Equipment & Supply, Transportation.Ae, Al Shola Transport Company, Andron Equipment LLC, MHJ Heavy Equipment Trading Co, Al Sahra Heavy Equipment, United Motors & Heavy Equipment, Al Bahar, Heavy Equipment & Construction Equipment, Al Qastal Trading, Al Walid Equipment Rental LLC, Tanzeem Heavy Equipment Rental LLC, Arabian Machinery & Heavy Equipment Co, Arabian Heavy Equipment Leasing Company, Age Corporation WLL, AGG - PRO, Al Darwish United Co WLL, Al Moasawi Trading And Contracting Co, Al Wazeeri Trading Contracting And Transport, Alaa For Industry (AFI) - Qatar, Alam Steel For Heavy Equipment WLL, Askar Industries WLL And Cameron Equipment Africa Ltd, Raubex, Kanu Equipment Africa, Teichmann South Africa (Pty) Ltd, Barloworld South Africa (Pty) Ltd, Manitou Southern Africa (Pty) Ltd, Torre Holdings (Pty) Ltd, Renttech South Africa (Pty) Ltd
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Top Trend - Innovative Technological Solutions Driving Profitability In The Machinery Leasing Market
Major companies operating in the machinery leasing market are innovating new technological solutions, such as ASPIRE Express to increase their profitability in the market. ASPIRE Express is a low-cost, entry-level servicing system that enables speedy booking and servicing of lease and loan contracts. For instance, in March 2022, LTi Technology Solutions, a US-based provider of lease, loan and asset finance software solutions, launched ASPIRE Express. It is a safe software-as-a-service (SaaS) option that gives companies a simple and cost-effective way to swiftly book and service lease and loan contracts with low entry costs. The platform is intended to make the equipment leasing and financing procedure for businesses simpler and has no cap on the number of contracts that may be executed.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Machinery Leasing Market Characteristics
3. Machinery Leasing Market Trends And Strategies
4. Machinery Leasing Market - Macro Economic Scenario
5. Machinery Leasing Market Size And Growth
…..
27. Machinery Leasing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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