Global Machinery Leasing Market to Grow at a CAGR of 7.5% by 2030

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Market Definition:

According to a report by Altus Market Research titled, “Global Machinery Leasing Market Analysis By Type, Application, Model (Online, Offline): 2022 Opportunities And Strategies To 2030“, the global machinery leasing market size is expected to grow at a compound annual growth rate (CAGR) of 7.5%.

Growth Drivers:

The global market for machinery leasing growth is resulted from strong economic growth in emerging markets, increased construction and rise in commercial farming. Going forward, growing capital expenditure on infrastructure development, improved logistics infrastructure, increasing need to replace outdated equipment, increasing number of drilling activities, shift in trends toward rental and emergence of startups will drive the growth. Factors that could hinder the growth of this market in future are shortage of skilled workforce, coronavirus pandemic and increasing expenditure of delivering and manufacturing machinery.

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Market Growth by Segments:

The machinery leasing market share is segmented by type into mining, oil and gas, and forestry machinery and equipment rental, commercial air, rail, and water transportation equipment rental, heavy construction machinery rental, office machinery and equipment rental, other commercial and industrial machinery and equipment rental.

Heavy construction machinery rental accounted for the largest share of the machinery leasing market revenue in 2020 at 28.5%, also the heavy construction machinery rental market is expected to grow at the highest CAGR of 8.8% during the forecast period.

The machinery leasing market is also segmented by mode into online and offline. Offline accounted for the largest share of the machinery leasing market in 2020 at 98.2%, while the online market is expected to grow at the highest CAGR of 10.4% during the forecast period.

Market Growth by Region:

Asia Pacific is the largest market for machinery leasing companies, accounting for 37.3% of the global market. It was followed by North America, Western Europe, and other regions. Going forward, Africa and South America will be the fastest growing markets in the machinery leasing market, where growth will be at a CAGR of 10.8% and 10.1% respectively. This is followed by Middle East and the Eastern Europe, where the market is expected to grow at a CAGR of 8.85% and 8.05% respectively.

Market Growth by Key Players:

The market for machinery leasing is fairly fragmented, comprising a small number of large competitors and a large number of small players. Major players in the market are Modulaire Aggreko Willscot Mobile Mini, H&E Equipment Services, Sarens, Kanmoto Co. Ltd., Liebherr International AG, Caterpillar Inc., Nikken Corporation, Asia Machinery Solutions, Guzent Inc., Mahindra & Mahindra Limited, Infra Bazaar Private Limited, The Alta Group, Hitachi Construction Machinery Financial Leasing (China) Co., Ltd, Shandong Heavy Industry Group Co., Ltd, Lengshuijiang Huiying Building Machinery Leasing Co., Ltd, Sanghvi Movers, Indiabulls, Jindal Infrastructure Pvt. Ltd, Finlease, Kobelco Construction Machinery Co. Ltd., Deere & Co., Komatsu Ltd., Volvo Group, Doosan Infracore, XCMG, Liebherr, Battlefield Equipment Rentals, Ahern Rentals, LeasePlan, Enterprise, Oak Leasing, Sixt, Volkswagen Credit, Deutsche Leasing Vostok JSC, John Deere Equipment Financing/Russia, VTB Leasing Business Lease Group, KAMAZ Leasing Company, Volvo Finance Service Vostok, VTB Leasing, 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, Ice Rigging, Scaffold King Rentals Inc, Allied Equipment Service Corp, Macallister Rentals, Southside Rental Center Inc., Master Rental Center, Contractors Equipment & Supply, Llc, U-rent-it Center Inc.,, 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 Teichmann South Africa (Pty) Ltd, Barloworld South Africa (Pty) Ltd, Manitou Southern Africa (Pty) Ltd, Hire Solution (Pty) Ltd, Torre Holdings (Pty) Ltd, Renttech South Africa (Pty) Ltd

Market: Trend-based Strategies

Market-trend-based strategies for the machinery leasing market growth include using predictive analytics to enhance performance, efficiency, utilization rates and reduce downtime of equipment, investing in virtual or augmented reality to improve productivity, increase the useful life of the asset, and save time for the employees and the maintenance team, employing AI and machine learning to carry out smoother operations and assess the data to get better insights about the machinery, and employing blockchain to carry out easier assessment of the data, all at a consolidated place, regardless of the format in which the data is stored.

Market Growth by Investment Opportunities:

The top opportunities in the machinery leasing market segmented by type will arise in the heavy construction machinery rental segment, which will gain $47.1 billion of global annual sales by 2025. The top opportunities in the machinery leasing market segmented by mode will arise in the offline segment, which will gain $124.0 billion of global annual sales by 2025. USA is the country that is leading in the machinery leasing market and it will gain $34.4 billion by 2025.