Equipment As A Service Market Size, Share, Trends, Growth Outlook

The global Equipment As A Service Market is poised to register a 38.6% CAGR from $1.8 Billion in 2024 to $12.8 Billion in 2030.

The global Equipment As A Service Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Equipment (Air Compressor, Pump, Power Tools, Ground Power Units, Laser Cutting Machines, Printing Machines, CNC Machines, Material Handling System, Packaging Machine, Excavators, Cranes, Others), By Financing Models (Subscription-Based, Outcome-Based), By End-User (Construction, Material Handling, Mining, Manufacturing, Packaging).

An Introduction to Global Equipment As A Service Market in 2024

In the equipment as a service (EaaS) market, the future is driven by trends such as the shift towards subscription-based models, digitalization, and the circular economy driving innovation in equipment leasing, service delivery, and asset management. Equipment as a service involves the provision of equipment and machinery on a subscription or pay-per-use basis, offering customers flexibility, cost savings, and hassle-free maintenance. Key trends shaping this market include the adoption of cloud-based platforms and IoT-enabled devices for remote monitoring, predictive maintenance, and asset tracking to optimize equipment performance and uptime, the development of flexible service agreements and pricing models tailored to customer needs and usage patterns, and the integration of sustainable practices such as equipment refurbishment, remanufacturing, and end-of-life recycling to minimize waste and environmental impact. As businesses seek to maximize operational efficiency, minimize capital expenditure, and reduce ownership risks, the demand for equipment as a service solutions that offer scalability, predictability, and sustainability is expected to drive market growth and inspire further innovation in service-based business models.

Equipment As A Service Market Competitive Landscape

The market report analyses the leading companies in the industry including AB Volvo, Arnold Machine Inc, Atlas Copco AB, DMG MORI AG, ExOne Company, Gebr. Heller Maschinenfabrik GmbH, Heidelberger Druckmaschinen AG, Hilti AG, KAESER KOMPRESSOREN SE, Metso Outotec Corp, Siemens AG, SK LASER GmbH, SMS group GmbH, Tamturbo Oy, TRUMPF GmbH + Co. KG, Uteco Converting S.p.A..

Equipment As A Service Market Dynamics

Equipment as A Service Market Trend: Shift Towards Outcome-Based Business Models

One prominent market trend in the equipment as a service industry is the shift towards outcome-based business models. Instead of traditional ownership or leasing models, businesses are increasingly seeking solutions where they pay for the performance or outcome delivered by the equipment rather than owning the equipment itself. The trend fuels the growing preference for operational efficiency, risk-sharing, and cost predictability among businesses across various sectors. Equipment as a service providers offer bundled solutions that include equipment, maintenance, upgrades, and support services, allowing customers to access the benefits of the equipment without the upfront capital investment or operational complexities.

Equipment as A Service Market Driver: Demand for Cost-Efficiency and Flexibility

A key driver in the equipment as a service market is the demand for cost-efficiency and flexibility among businesses. By opting for equipment as a service agreements, businesses can mitigate upfront capital expenditures, reduce total cost of ownership, and improve cash flow management. Additionally, the subscription-based model offers flexibility to scale equipment usage according to changing business needs, seasonal fluctuations, or project requirements. This driver aligns with the broader trend towards asset-light business models and operational agility, driving market demand for equipment as a service solutions that offer financial flexibility, scalability, and predictability in costs.

Equipment as A Service Market Opportunity: Integration of IoT and Predictive Analytics

One potential opportunity in the equipment as a service market lies in the integration of IoT (Internet of Things) and predictive analytics to optimize equipment performance and service delivery. Equipment providers have an opportunity to equip their assets with IoT sensors and connectivity capabilities to collect real-time data on equipment usage, performance, and health. By leveraging predictive analytics algorithms, providers can analyze this data to anticipate equipment failures, schedule proactive maintenance, optimize equipment utilization, and minimize downtime. This proactive approach to maintenance and service delivery enhances equipment reliability, reduces operational risks, and improves customer satisfaction. By embracing IoT and predictive analytics technologies, equipment as a service providers can differentiate their offerings, deliver value-added services, and capitalize on opportunities to drive market growth and customer loyalty.

Equipment As A Service Market Ecosystem

The Equipment as a Service (EaaS) market operates through a subscription-based model, revolutionizing how businesses access equipment. Key players including Siemens, Caterpillar, and Xerox either offer EaaS programs for their equipment or collaborate with dedicated EaaS providers including GE Healthcare and DLL. These providers source equipment through various means, including direct purchase, leasing, or partnerships with manufacturers, with financial institutions occasionally facilitating financing options.
Configuration and customization of equipment are handled by EaaS providers, in collaboration with original equipment manufacturers (OEMs), while value-added service providers offer complementary software solutions. Sales and marketing efforts target potential customers interested in EaaS solutions, typically involving manufacturer sales teams alongside EaaS providers. Installation, onboarding, and ongoing maintenance are managed by EaaS providers or their partners, with logistics companies occasionally facilitating equipment transport.
Furthermore, EaaS providers oversee subscription management, including billing and contract renewals, while also ensuring equipment monitoring, maintenance, and lifecycle management, including upgrades, disposal, or resale opportunities. Financial technology companies, including Stripe, facilitate payment processing for EaaS subscription fees while recycling companies assist in environmentally friendly disposal.
 

Equipment As A Service Market Share Analysis: Material Handling System held the dominant revenue share in 2024

The largest segment in the Equipment as a Service (EaaS) Market is the "Material Handling System" equipment category. This dominance can be attributed to diverse key factors. Firstly, material handling systems play a critical role in various industries such as manufacturing, logistics, warehousing, and distribution by facilitating the movement, storage, and handling of goods and materials throughout the supply chain. These systems encompass a wide range of equipment, including conveyors, automated guided vehicles (AGVs), palletizers, sorters, and robotics, which are essential for streamlining operations, improving efficiency, and optimizing productivity. Additionally, the increasing adoption of automation and Industry 4.0 technologies in manufacturing and logistics operations drives the demand for advanced material handling systems that offer greater flexibility, scalability, and efficiency. In addition, the rise of e-commerce and omnichannel retailing has led to growing demand for sophisticated material handling solutions capable of handling diverse product types, managing high volumes of orders, and meeting customer delivery expectations. Further, the shift toward subscription-based business models and the growing trend of outsourcing equipment procurement and management to third-party providers further drive the adoption of Equipment as a Service (EaaS) offerings for material handling systems. As a result, the Material Handling System equipment segment remains the largest in the Equipment as a Service Market due to its essential role in modern supply chain operations and the increasing demand for flexible, scalable, and cost-effective material handling solutions in various industries.

Equipment As A Service Market Share Analysis: Subscription-Based is the fastest growing market segment over the forecast period to 2030

The fastest-growing segment in the Equipment as a Service (EaaS) Market is the "Subscription-Based" financing model category. This growth can be attributed to diverse key factors. Firstly, subscription-based financing models offer customers greater flexibility, scalability, and cost-effectiveness compared to traditional equipment ownership models. With a subscription-based approach, customers can access and utilize equipment without the need for large upfront capital investments, making it particularly attractive for businesses with limited capital resources or those seeking to conserve cash flow. Additionally, subscription-based models often include bundled services such as maintenance, repairs, upgrades, and technical support, providing customers with a comprehensive and hassle-free solution for equipment procurement and management. In addition, subscription-based financing models align with the growing trend toward as-a-service business models across various industries, where customers prefer to pay for the use of equipment or services on a subscription basis rather than owning and managing assets themselves. Further, subscription-based financing models offer greater flexibility for customers to scale their equipment usage according to fluctuating demand levels or business needs, enabling them to adapt more effectively to changing market conditions and operational requirements. As a result, the Subscription-Based financing model segment is experiencing rapid growth in the Equipment as a Service Market due to its ability to provide customers with cost-effective, flexible, and comprehensive solutions for accessing and utilizing equipment while shifting away from traditional ownership-based models.

Equipment As A Service Market Share Analysis: Construction is the fastest growing market segment over the forecast period to 2030

The fastest-growing segment in the Equipment as a Service (EaaS) Market is the "Construction" end-user category. This growth can be attributed to diverse key factors. Firstly, the construction industry is witnessing increasing demand for equipment rental and leasing solutions due to the cyclical nature of construction projects, fluctuating demand levels, and the need for flexible equipment options to meet project requirements. Equipment as a Service (EaaS) offerings provide construction companies with the flexibility to access a wide range of equipment, including excavators, cranes, bulldozers, and loaders, without the burden of ownership or maintenance costs. Additionally, the construction industry is experiencing digital transformation and technology adoption, with a growing emphasis on efficiency, productivity, and sustainability. EaaS providers offer innovative solutions such as telematics, IoT-enabled equipment, and predictive maintenance services, enabling construction companies to optimize equipment utilization, monitor performance, and reduce downtime. In addition, the shift toward sustainable construction practices and green building initiatives drives the adoption of equipment with lower emissions and greater fuel efficiency, prompting construction companies to explore rental and leasing options offered by EaaS providers. Further, the COVID-19 pandemic has accelerated the trend toward flexible workforce models and remote collaboration in the construction industry, leading to increased demand for equipment rental and leasing solutions that support agile project management and resource allocation. As a result, the Construction end-user segment is experiencing rapid growth in the Equipment as a Service Market due to the industry's evolving needs, technological advancements, and the benefits of EaaS offerings in optimizing equipment usage, reducing costs, and improving project efficiency and sustainability.

Equipment As A Service Market Report Scope-

By Equipment
Air Compressor
Pump
Power Tools
Ground Power Units
Laser Cutting Machines
Printing Machines
CNC Machines
Material Handling System
Packaging Machine
Excavators
Cranes
Others
By Financing Models
Subscription-Based
Outcome-Based
By End-User
Construction
Material Handling
Mining
Manufacturing
Packaging

Equipment As A Service Market Companies Profiled

AB Volvo
Arnold Machine Inc
Atlas Copco AB
DMG MORI AG
ExOne Company
Gebr. Heller Maschinenfabrik GmbH
Heidelberger Druckmaschinen AG
Hilti AG
KAESER KOMPRESSOREN SE
Metso Outotec Corp
Siemens AG
SK LASER GmbH
SMS group GmbH
Tamturbo Oy
TRUMPF GmbH + Co. KG
Uteco Converting S.p.A.
*- List Not Exhaustive

TABLE OF CONTENTS

1 Introduction to 2024 Equipment As A Service Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 Executive Summary
3.1 Global Equipment As A Service Market Size Outlook, $ Million, 2021 to 2030
3.2 Equipment As A Service Market Outlook by Type, $ Million, 2021 to 2030
3.3 Equipment As A Service Market Outlook by Product, $ Million, 2021 to 2030
3.4 Equipment As A Service Market Outlook by Application, $ Million, 2021 to 2030
3.5 Equipment As A Service Market Outlook by Key Countries, $ Million, 2021 to 2030

4 Market Dynamics
4.1 Key Driving Forces of Equipment As A Service Industry
4.2 Key Market Trends in Equipment As A Service Industry
4.3 Potential Opportunities in Equipment As A Service Industry
4.4 Key Challenges in Equipment As A Service Industry

5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Equipment As A Service Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook

6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 Global Equipment As A Service Market Outlook by Segments
7.1 Equipment As A Service Market Outlook by Segments, $ Million, 2021- 2030
By Equipment
Air Compressor
Pump
Power Tools
Ground Power Units
Laser Cutting Machines
Printing Machines
CNC Machines
Material Handling System
Packaging Machine
Excavators
Cranes
Others
By Financing Models
Subscription-Based
Outcome-Based
By End-User
Construction
Material Handling
Mining
Manufacturing
Packaging

8 North America Equipment As A Service Market Analysis and Outlook To 2030
8.1 Introduction to North America Equipment As A Service Markets in 2024
8.2 North America Equipment As A Service Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Equipment As A Service Market size Outlook by Segments, 2021-2030
By Equipment
Air Compressor
Pump
Power Tools
Ground Power Units
Laser Cutting Machines
Printing Machines
CNC Machines
Material Handling System
Packaging Machine
Excavators
Cranes
Others
By Financing Models
Subscription-Based
Outcome-Based
By End-User
Construction
Material Handling
Mining
Manufacturing
Packaging

9 Europe Equipment As A Service Market Analysis and Outlook To 2030
9.1 Introduction to Europe Equipment As A Service Markets in 2024
9.2 Europe Equipment As A Service Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Equipment As A Service Market Size Outlook by Segments, 2021-2030
By Equipment
Air Compressor
Pump
Power Tools
Ground Power Units
Laser Cutting Machines
Printing Machines
CNC Machines
Material Handling System
Packaging Machine
Excavators
Cranes
Others
By Financing Models
Subscription-Based
Outcome-Based
By End-User
Construction
Material Handling
Mining
Manufacturing
Packaging

10 Asia Pacific Equipment As A Service Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Equipment As A Service Markets in 2024
10.2 Asia Pacific Equipment As A Service Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Equipment As A Service Market size Outlook by Segments, 2021-2030
By Equipment
Air Compressor
Pump
Power Tools
Ground Power Units
Laser Cutting Machines
Printing Machines
CNC Machines
Material Handling System
Packaging Machine
Excavators
Cranes
Others
By Financing Models
Subscription-Based
Outcome-Based
By End-User
Construction
Material Handling
Mining
Manufacturing
Packaging

11 South America Equipment As A Service Market Analysis and Outlook To 2030
11.1 Introduction to South America Equipment As A Service Markets in 2024
11.2 South America Equipment As A Service Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Equipment As A Service Market size Outlook by Segments, 2021-2030
By Equipment
Air Compressor
Pump
Power Tools
Ground Power Units
Laser Cutting Machines
Printing Machines
CNC Machines
Material Handling System
Packaging Machine
Excavators
Cranes
Others
By Financing Models
Subscription-Based
Outcome-Based
By End-User
Construction
Material Handling
Mining
Manufacturing
Packaging

12 Middle East and Africa Equipment As A Service Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Equipment As A Service Markets in 2024
12.2 Middle East and Africa Equipment As A Service Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Equipment As A Service Market size Outlook by Segments, 2021-2030
By Equipment
Air Compressor
Pump
Power Tools
Ground Power Units
Laser Cutting Machines
Printing Machines
CNC Machines
Material Handling System
Packaging Machine
Excavators
Cranes
Others
By Financing Models
Subscription-Based
Outcome-Based
By End-User
Construction
Material Handling
Mining
Manufacturing
Packaging

13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
AB Volvo
Arnold Machine Inc
Atlas Copco AB
DMG MORI AG
ExOne Company
Gebr. Heller Maschinenfabrik GmbH
Heidelberger Druckmaschinen AG
Hilti AG
KAESER KOMPRESSOREN SE
Metso Outotec Corp
Siemens AG
SK LASER GmbH
SMS group GmbH
Tamturbo Oy
TRUMPF GmbH + Co. KG
Uteco Converting S.p.A.

14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

By Equipment
Air Compressor
Pump
Power Tools
Ground Power Units
Laser Cutting Machines
Printing Machines
CNC Machines
Material Handling System
Packaging Machine
Excavators
Cranes
Others
By Financing Models
Subscription-Based
Outcome-Based
By End-User
Construction
Material Handling
Mining
Manufacturing
Packaging
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)