Machinery Leasing Global Market To Reach Value Of About $454.78 Billion In 2025
12 Feb, 2021
The machinery rental market consists of sales of machinery rental services by entities (organizations, sole traders and partnerships) that rent out or lease commercial-type and industrial-type machinery and equipment. Establishments in this generally provide capital or investment-type equipment that clients use in their business operations. These establishments typically cater to a business clientele and do not generally operate a retail-like or storefront facility.
Global Machinery Leasing Market Size And Drivers:
The global machinery leasing market is expected to grow from $316.22 billion in 2020 to $342.66 billion in 2021 at a compound annual growth rate (CAGR) of 8.4%. The market is expected to reach $454.78 billion in 2025 at a CAGR of 7%. The emergence of start-ups as major clients of leasing service providers is expected to drive the market. Driven by cost efficiency and the necessity to acquire advanced equipment which are often highly priced, start-ups have started renting or leasing their equipment.
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Trends In The Global Machinery Leasing Market
Companies are increasingly leasing 3D printing equipment for manufacturing purposes. The 3D printer is a computer-aided manufacturing device which creates three-dimensional objects by receiving digital data from a computer as input by building a three-dimensional model out of custom material. 3D printing is gaining popularity as manufacturers are becoming more familiar with industrial-grade 3D printers. Industrial grade 3D printers are capable of printing large products with high precision and with a wide range of materials. 3D printer leasing can reduce the overall reduction of cost of the manufacturer rather than buying.
Global Machinery Leasing Market Segments:
The global machinery leasing market is further segmented based on type, Mode and geography.
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, Other Commercial And Industrial Machinery And Equipment Rental.
By Mode: Online, Offline.
By Geography: The global machinery leasing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global machinery leasing market, accounting for 37% of the total market.
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Machinery Leasing Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides machinery leasing market overviews, analyzes and forecasts market size and growth for the global machinery leasing market, machinery leasing market share, machinery leasing market players, machinery leasing market segments and geographies, machinery leasing market’s leading competitors’ revenues, profiles and market shares. The machinery leasing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.