The construction equipment finance global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Construction Equipment Finance Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The construction equipment finance market size has grown strongly in recent years. It will grow from $54.39 billion in 2023 to $59.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to Economic conditions, construction industry trends, the growing availability of financing options, the regulatory environment, credit availability, high manufacturer incentives, and high resale value.
The construction equipment finance market size is expected to see strong growth in the next few years. It will grow to $84.73 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to the need for construction equipment, central bank policies and interest rate trends, urban redevelopment and smart city initiatives, growth in the construction equipment rental market, insurance and risk management, and impact of global economic cycles and recessions. Major trends in the forecast period include the rise of digital financing platforms, a shift towards flexible financing models, a focus on sustainability and green financing, integration of IoT and telematics, and expansion of equipment-as-a-service (EaaS) offerings.
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Scope Of Construction Equipment Finance Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Construction Equipment Finance Market Overview
Market Drivers –
The construction equipment finance market size has grown strongly in recent years. It will grow from $54.39 billion in 2023 to $59.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to Economic conditions, construction industry trends, the growing availability of financing options, the regulatory environment, credit availability, high manufacturer incentives, and high resale value.
The construction equipment finance market size is expected to see strong growth in the next few years. It will grow to $84.73 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to the need for construction equipment, central bank policies and interest rate trends, urban redevelopment and smart city initiatives, growth in the construction equipment rental market, insurance and risk management, and impact of global economic cycles and recessions. Major trends in the forecast period include the rise of digital financing platforms, a shift towards flexible financing models, a focus on sustainability and green financing, integration of IoT and telematics, and expansion of equipment-as-a-service (EaaS) offerings.
Market Trends –
Major companies operating in the construction equipment finance market are focusing on developing innovative solutions, such as excavator leasing programs, to cater to evolving industry needs and offer flexible solutions for equipment acquisition and utilization. Excavator leasing programs refer to arrangements where contractors or businesses can lease excavators instead of purchasing them outright. For instance, in May 2023, Case Construction Equipment, a US-based construction machinery manufacturing company, launched CASE Power Leas, a new excavator leasing program. This program includes flexible lease options of 36 months or 3,000 hours and encompasses a full machine warranty and planned maintenance throughout the lease period. Additionally, it provides an extra year or 1,000 hours of powertrain warranty if the lessee purchases the equipment at the lease end.
The construction equipment finance market covered in this report is segmented –
1) By Financing Type: Loans, Mortgage
2) By Equipment: Earthmoving, Material Handling, Concrete And Road Construction, Transportation
3) By Application: Enterprise, Municipal, Other Applications
4) By End-User: Small And Medium Enterprises, Large Enterprises
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Regional Insights –
North America was the largest region in the construction equipment finance market in 2023. The regions covered in the construction equipment finance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the construction equipment finance market are focusing on developing innovative solutions, such as excavator leasing programs, to cater to evolving industry needs and offer flexible solutions for equipment acquisition and utilization. Excavator leasing programs refer to arrangements where contractors or businesses can lease excavators instead of purchasing them outright. For instance, in May 2023, Case Construction Equipment, a US-based construction machinery manufacturing company, launched CASE Power Leas, a new excavator leasing program. This program includes flexible lease options of 36 months or 3,000 hours and encompasses a full machine warranty and planned maintenance throughout the lease period. Additionally, it provides an extra year or 1,000 hours of powertrain warranty if the lessee purchases the equipment at the lease end.
Table of Contents
1. Executive Summary
2. Construction Equipment Finance Market Characteristics
3. Construction Equipment Finance Market Trends And Strategies
4. Construction Equipment Finance Market – Macro Economic Scenario
5. Global Construction Equipment Finance Market Size and Growth
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32. Global Construction Equipment Finance Market Competitive Benchmarking
33. Global Construction Equipment Finance Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Construction Equipment Finance Market
35. Construction Equipment Finance Market Future Outlook and Potential Analysis
36. Appendix
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