Equipment as a Service Market to Reach $1.13Bn by 2031, Driven by Demand for Cost-Efficient Asset Utilization | TRUMPF, Atlas Copco, H&E Rentals, SMS group GmbH, Arnold Machine, AB Volvo

Equipment as a Service Market reached US$ 0.72 billion in 2024 and is expected to reach US$ 1.12 billion by 2032, growing with a CAGR of 5.75% during the forecast period 2025-2032.
The new report on the Equipment as a Service Market, published by DataM Intelligence provides a detailed analysis of market size, share, trends, and growth opportunities from 2024 to 2031. With comprehensive insights into industry dynamics, competitive landscape, and regional developments, this study helps businesses, investors, and stakeholders navigate the fast-evolving market landscape.

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Equipment as a Service (EaaS) is a subscription or pay-per-use model where equipment is provided along with maintenance, upgrades, and digital monitoring. The market is expanding as industries adopt flexible, cost-efficient, and IoT-enabled solutions, shifting capital expenditures to operating expenses, with strong adoption in manufacturing, healthcare, and logistics.

Major growth drivers of the Equipment as a Service Market are:

✦Businesses are increasingly opting for EaaS to avoid high upfront capital expenditures and shift to more predictable operating expenses.
✦EaaS allows companies to scale their equipment needs as required, offering flexibility in response to market demands or technological advancements.
✦The inclusion of maintenance, support, and updates in the service offering reduces the operational burden on companies.
✦The growing adoption of IoT and automation in industries is enhancing the appeal of EaaS, as equipment can be remotely monitored and maintained.
✦EaaS supports sustainability by promoting equipment reuse and reducing waste through service-based business models.
This trend is fueling investments and expanding applications across industries. Furthermore, advancements in Equipment as a Service are reshaping the market landscape.

Latest Industry Update from United States and Japan on Equipment as a Service Market:

United States: Recent Industry Developments

✅ In July 2025, Caterpillar introduced an Equipment-as-a-Service model for its construction machinery. The program offers subscription-based access with predictive maintenance. It lowers upfront costs for contractors and boosts operational efficiency.

✅ In June 2025, John Deere invested $300 million to expand its EaaS offerings across agriculture equipment. The model integrates IoT-based monitoring and data analytics. It enables farmers to optimize productivity while reducing capital expenses.

✅ In May 2025, GE Healthcare launched an EaaS platform for advanced imaging systems. Hospitals can now pay per scan instead of purchasing equipment. The initiative improves accessibility to high-cost medical technology.

Japan: Recent Industry Developments

✅ In July 2025, Hitachi Construction Machinery rolled out a subscription-based EaaS model for excavators and loaders. The solution leverages telematics for usage-based billing. It supports Japan's shift toward circular economy practices.

✅ In June 2025, Mitsubishi Electric partnered with Japanese SMEs to provide Equipment-as-a-Service in manufacturing. The platform integrates AI-driven predictive maintenance. It helps small manufacturers access automation without heavy investment.

✅ In May 2025, Toyota Industries introduced EaaS for material handling equipment such as forklifts. The program offers flexible leasing with real-time performance tracking. It strengthens logistics efficiency in Japan's growing e-commerce sector.

Equipment as a Service Market Key Companies:

The report profiles leading players shaping the Equipment as a Service Market, including:

TRUMPF, Atlas Copco, H&E Rentals, SMS group GmbH, Arnold Machine, AB Volvo, Heller Maschinenfabrik GmbH, DMG MORI, Metso Outotec and KAESER KOMPRESSOREN.

These companies are adopting strategies such as product launches, mergers & acquisitions, and partnerships to expand their market footprint.

Comprehensive Market Segmentation

The Equipment as a Service Market has been segmented to provide a clear understanding of its structure and dynamics. The report categorizes the market by product type, application, end-user industry, and region, offering detailed insights into each segment's growth potential. This segmentation helps stakeholders identify key opportunities, evaluate demand patterns, and develop targeted strategies to strengthen their market position.

By Equipment (Air Compressor, Pump, Power Tools, Ground Power Units, Laser Cutting Machines, Printing Machines, CNC machines, Material handling system, Packaging Machine, Excavators, Cranes, Others)
By Application (Construction & Mining, Manufacturing, Packaging, Material Handling, Others)
By Financing (Subscription-Based, Outcome-Based)
By End-User (Healthcare, Logistics and Transportation, Financial Services, Government & Institution, Energy and Utilities, Others)

Regional Outlook Highlighting Growth

• North America: Expected to dominate the Equipment as a Service market due to high technology adoption and strong industry presence.
• Europe: Witnessing steady growth in Equipment as a Service market, supported by sustainability initiatives and regulatory support.
• Asia-Pacific: Anticipated to be the fastest-growing region in the Equipment as a Service Market, led by rising demand in China, India, and Japan.
• Latin America & Middle East/Africa: Emerging Equipment as a Service markets offering untapped opportunities, particularly in Equipment as a Service.

Looking for in-depth insights? Grab the full report: https://www.datamintelligence.com/buy-now-page?report=equipment-as-a-service-market

FAQ
✅ What is the projected market size and growth rate of the Equipment as a Service market?
✅ Which industries are creating the highest demand for EaaS solutions?
✅ Who are the leading players and innovators in the EaaS market?

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