How Global Machinery Leasing Market Players Should Strategize For 2022-2031
24 Feb, 2022
The global machinery leasing market size is expected to grow from $334.64 billion in 2021 to $373.41 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The machinery rental market is expected to reach $554.43 billion in 2026 at a CAGR of 10.4%.
What is the Global Machinery Leasing Market?
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.
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What drives the Global Machinery Leasing Market?
The emergence of start-ups as major clients of leasing service providers is expected to drive the machinery rental 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. The increasing number of start-ups is also expected to positively impact the machinery rental market. For instance, according to the Department for Promotion of Industry and Internal Trade, the number of start-ups in India reached 16,000 in 2020, depicting new opportunities for the leasing market in the client expansion and revenue generation.
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https://www.thebusinessresearchcompany.com/report/machinery-leasing-global-market-reportGlobal Machinery Leasing Market Segments
The global machinery leasing market is segmented:
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 Lease Type: Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Others
By Geography: The regions covered in the machinery leasing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia Pacific accounts for the largest share in the global machinery leasing market.
Machinery Leasing Global Market Report 2022provides market size and growth forecasts for the global machinery leasing market, global machinery leasing market share, machinery leasing market segments and geographies, machinery leasing market competitive landscape including 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.
Global Machinery Leasing Industry Playersinclude General Electric Company, United Rentals Inc, Tokyo Century, Berkshire Hathaway Inc., Ashtead Group plc, AerCap Holdings N.V., Fuyo General Lease Co., Ltd., NetJets, Nissan Motor Co Ltd and Air Lease Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.