The global machinery leasing market is anticipated to grow at a considerable CAGR of 5.6% during the forecast period. The machinery leasing market consists of sales of machinery rental services by the entities that rent out or lease commercial type and industrial type machinery and equipment to farmers, construction workers, and other end-users. The main types of machinery leasing are heavy construction machinery, commercial air, rail, and water transportation equipment machines, among others. The factor that drives the market growth is the need to replace outdated equipment, increasing number of drilling activities, improved logistics infrastructure, growing capital expenditure for the development of infrastructure, and rising number of agriculture practices majorly in the emerging economies countries such as India, and Japan. Moreover, the application of machinery leasing in agriculture, construction activities, and the mining and gas extraction practices leads to support significant growth in the coming years. For farmers, machinery leasing offers a variety of advantages that allow the crops to be harvested on time. Over time, the outdated equipment becomes obsolete such as tillers, harvesters, tractors which are needed to be replaced with new and advance machines and offers a chance to farmers to improve the operations conveniently.
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The COVID-19 pandemic had impacted the global machinery leasing market to a great extent. During COVID-19, as of May 2020, 212 countries had been impacted by the pandemic, and the governments of these countries had ordered nationwide lockdowns due to which people were forced to stay in their homes which impacted the travel, transportation industry which in turn impacted the machinery leasing market. Additionally, the operations of several industries were put to a halt such as infrastructure development, construction, commercial rail, and water transportation which also negatively impacted the market growth. Furthermore, the mining and drilling activities were also severely impacted by the COVID-19 pandemic which in turn hampered market growth. However, as the COVID-19 situation normalizes, the global machinery leasing market started recovery as many industries construction and infrastructure industries were normalized after the recovery.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Machinery Leasing Market– Segmentation
By Type
- Heavy construction machinery rental
- Commercial air, rail, and water transportation equipment rental
- Mining, oil and gas
- Forestry machinery
- Equipment rental
By Mode
- Offline
- Online
Global Machinery Leasing Market – by Region
North America
- US
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2022 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global machinery leasing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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