DUBLIN--(BUSINESS WIRE)--The "Machinery Leasing Global Market Opportunities And Strategies To 2030, By Type, Model" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global machinery leasing market as it emerges from the COVID 19 shut down.
The market for machinery leasing reached a value of nearly $316.2 billion in 2020, having grown at 2.7% since 2015 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% to nearly $454.8 billion by 2025.
Companies Mentioned
- United Rental
- Ashtead Group
- Loxam
- Aktio Corp.
- Herc Holdings Inc.
- Modulaire
- Aggreko
- Willscot Mobile Mini
- H&E Equipment Services
- Sarens
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This report describes and evaluates the market for machinery leasing globally. It covers three five-year periods, 2015 to 2020, termed the historic period and 2020 through 2025, and 2025-2030, the forecast periods.
Global growth in the historic period resulted from strong economic growth in emerging markets, increased construction and rise in commercial farming. Factors that negatively affected growth in the historic period were reduction in free trade and companies opting to buy over leasing equipment. 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capital expenditure on infrastructure development, improved logistics infrastructure, increasing need to replace outdated equipment, increasing number of drilling activities, shift in trends toward rental and emergence of startups will drive the growth.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.
The machinery leasing market 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 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.
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.
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.
Market-trend-based strategies for the machinery leasing market 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.
For more information about this report visit https://www.researchandmarkets.com/r/dy9ulj
