What Has Been the Growth of the Machinery Leasing Market So Far?
The machinery leasing market has seen considerable growth due to a variety of factors.
• The market size for machinery leasing has seen robust growth in the past few years. It is projected to expand from $485.93 billion in 2024 to $530.43 billion in 2025, yielding a compound annual growth rate (CAGR) of 9.2%.
The surge in growth during the historic period is due to factors such as strong economic growth, the expansion of the manufacturing industry, increased demand from the automobile sector, and heightened demand spurred by rising construction activities.
What Is the Forecasted Market Size and Growth Rate for The Machinery Leasing Market?
The machinery leasing market is expected to maintain its strong growth trajectory in upcoming years.
• Over the next few years, the machinery leasing market is predicted to experience robust growth, reaching a market size of $731.91 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.4%.
Numerous factors contribute to this forecast period growth, including increased healthcare spending, escalating demand from the agricultural sector, and a rise in drilling operations. The forecast period will also see significant trends such as strategic alliances and partnerships, the launch of groundbreaking products, the incorporation of digital platforms, artificial intelligence, and machine learning to boost the machinery's efficiency and productivity, and a focus on providing electric vehicles as the preferred choice for environmentally aware consumers seeking to minimize their carbon emissions.
Which Drivers Are Accelerating Growth In The Machinery Leasing Market?
The growth of the machinery leasing market is anticipated to be fueled by the rise of start-ups as significant clients for leasing service providers. Often plagued with budgetary limitations, these start-ups may not possess the necessary financial resources to buy costly machinery outright. Thus, leasing offers them the opportunity to utilize the machinery without making substantial initial investments. This cost-effectiveness is particularly appealing to start-ups striving to save capital for other indispensable expenditures such as research, development, and marketing. For example, in 2022, as reported by Fortunly, a news magazine based in the US, the number of American startups rose to 33.2 million - an increase of 700,000 compared to the previous year.
What Key Areas Define The Segmentation Of The Global Machinery Leasing Market?
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
Subsegments:
1) By Heavy Construction Machinery Rental: Excavators And Bulldozers, Cranes And Lifting Equipment, Earthmoving Machinery
2) By Commercial Air, Rail, And Water Transportation Equipment Rental: Aircraft Leasing (Passenger And Cargo), Railcar Leasing (Freight And Passenger), Boat And Marine Equipment Leasing
3) By Mining, Oil And Gas, And Forestry Machinery And Equipment Rental: Drilling Rigs And Equipment, Mining Trucks And Heavy Machinery, Forestry Machinery
4) By Office Machinery And Equipment Rental: Computers And Laptops, Printers, Copiers, And Multifunction Devices, Office Furniture And Workspace Solutions
5) By Other Commercial And Industrial Machinery And Equipment Rental: Agricultural Equipment Rental (Tractors, Harvesters), Manufacturing Machinery Rental (CNC Machines, Industrial Robots), Specialized Equipment Rental (Scaffolding, Generators)
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How Are Emerging Trends Reshaping The Dynamics Of The Machinery Leasing Market?
The trend of leasing 3D printing equipment for manufacturing processes is on the rise among companies. A 3D printer, which is a product of computer-aided manufacturing, creates three-dimensional objects by taking digital data from the computer and constructing a three-dimensional model from a specific material. As industrial-grade 3D printers become more prevalent, the interest in 3D printing among manufacturers increases. These industrial-grade 3D printers have the capacity to print vast products with high precision and a diverse array of materials. Opting to lease 3D printers can lower overall manufacturing costs compared to purchasing. For example, Divide by Zero Technologies leases out 3D printers to clientele in India.
Who Are the Key Players in the Machinery Leasing Market?
Major companies operating in the machinery leasing market include:
• 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.
• Aktio Corporation
• Nikken Corporation
• Asia Machinery Solutions Vietnam Co. Ltd
• Mahindra & Mahindra Limited
• Infra Bazaar Private Limited
• The Alta Group
• 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
• 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
What Is The Most Dominant Region In The Machinery Leasing Market?
Asia-Pacific was the largest region in the machinery leasing market in 2024. 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
