Global Machinery Leasing Market Size 2024, Forecast To 2033

11 Mar, 2024

The machinery leasing market has exhibited strong growth, escalating from $408.15 billion in 2023 to $444.61 billion in 2024, with a compound annual growth rate (CAGR) of 8.9%. The historic period's growth is attributed to strong economic growth, growth in the manufacturing industry, growing demand from the automobile industry, and increasing demand from the construction activities. Looking forward, the market is expected to sustain strong growth, reaching $619.73 billion in 2028 at a CAGR of 8.7%. Anticipated factors contributing to this growth include rising healthcare expenditure, growing demand from the agricultural industry, and an increasing number of drilling activities. Major trends for the forecast period involve strategic partnerships and collaborations to grow in the market, the introduction of innovative products, digitization platforms, artificial intelligence, and machine learning in the machinery leasing market for improving efficiency and productivity, and a focus on offering electric vehicles as the go-to option for environmentally conscious consumers aiming to reduce their carbon footprint.

Global Machinery Leasing Market Key Driver

The machinery leasing market is poised for growth, driven by the increasing involvement of start-ups as significant clients of leasing service providers. In 2023, the market size is influenced by the financial challenges faced by start-ups, often constrained by budget limitations and unable to make substantial upfront investments in expensive machinery. Leasing services provide a cost-effective solution, enabling start-ups to access necessary machinery without a substantial initial capital outlay. As of 2024, data from Fortunly reveals a notable rise in start-ups, reaching 33.2 million in the US, marking a 700,000 increase compared to 2021. This trend emphasizes the strategic importance of machinery leasing in supporting the operational needs of start-ups, contributing to the growth of the machinery leasing market.

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Global Machinery Leasing Market Segments

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
By Geography:The regions covered in the machinery leasing market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa Asia-Pacific was the largest region in the machinery leasing market in 2023. North America was the second-largest region in the machinery leasing market. The regions covered in the machinery leasing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Machinery Leasing Industry Players

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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Machinery Leasing Market Overview

Machinery leasing is a process of obtaining commercial-type and industrial-type machinery, vehicles, or other equipment for temporary use in exchange for periodic payments paid to the machinery owner as leasing rent. Machinery leasing helps make lower monthly payments than with a loan, benefiting from tax advantages, getting a fixed financing rate instead of a floating rate, conserving working capital and avoiding cash-devouring down payments, and gaining immediate access to the most up-to-date business tools.

Machinery Leasing Global Market Report 2023 provides data on the global machinery leasing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The machinery leasing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.