The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Growth Overview

Rapid Growth in Recent Years

• The equipment finance service market size has grown significantly from $1,177.43 billion in 2023 to $1,302.25 billion in 2024.
• This growth represents a compound annual growth rate (CAGR) of 10.6%.
• Key drivers: regulatory changes, interest rate trends, industry growth, corporate expansion, and vendor financing programs.

Projected Future Growth

• The market is expected to grow to $1,958.93 billion by 2028.
• Forecasted CAGR is 10.8%.
• Key drivers: healthcare expansion, infrastructure development, Industry 4.0 adoption, sustainability initiatives, and digital transformation.

Trends Driving Market Expansion

Increased Use of Data Analytics and AI

• Data analytics and AI are being increasingly integrated to enhance decision-making and efficiency in equipment financing.

Growth of Digital Platforms

• Digital platforms are simplifying the process of acquiring equipment finance services, making them more accessible.

Integration of Blockchain Technology

• Blockchain is enhancing transparency and security in equipment financing transactions.

Cross-Border Financing Growth

• There is a growing trend towards cross-border financing, expanding the market reach for equipment finance services.

Enhanced Customer Experience

• Companies are focusing on improving the customer experience through personalized services and streamlined processes.

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Public Infrastructure Development as a Growth Driver

Importance of Public Infrastructure

• Public infrastructure development involves the planning, construction, and maintenance of essential facilities funded and managed by the government.
• It includes transportation systems, utilities, and public buildings, crucial for economic growth and public welfare.

Government Initiatives

• Governments are increasingly investing in infrastructure to boost economic growth, upgrade existing systems, and implement sustainable solutions.
• Example: Canada’s federal infrastructure expenditure is projected to reach $32,240 million in 2024-2025, up from $22,778 million in 2020-2021.

Role of Equipment Finance Services

• Equipment finance services provide necessary funding for acquiring and maintaining machinery used in infrastructure projects.

Key Players in the Market

Major Companies

• JPMorgan Chase & Co., Bank of America Corporation, Wells Fargo, GE Capital, Crest Capital, American Express, Toronto-Dominion Bank, Société Générale S.A., Truist Financial Corporation, The PNC Financial Services Group Inc., First American Equipment Finance, First-Citizens Bank And Trust Company, TIAA Bank, UMB Financial Corporation, Balboa Capital, OnDeck Capital, Commercial Credit Group Inc., National Funding Inc., SLR Investment Corp., Blue Bridge Financial LLC, American Capital Group Inc., Keystone Equipment Finance Corp., Smarter Finance USA.

Technological Advancements

Focus on Technologically Advanced Software

• Companies are developing advanced software to manage infrastructure and gain competitive advantages.
• Example: Alfa Financial Software Holdings plc launched Alfa Start, a preconfigured software platform for equipment finance organizations in the US.

Features of Alfa Start

• Over 30 back-office business processes supported by predefined workflows, business rules, document generation, and user roles.
• Includes out-of-the-box sales tax and payment integrations.
• Can be deployed as-is or customized to accelerate project delivery and maximize value.

Strategic Acquisitions

Commercial Credit Inc Acquires Keystone Equipment Finance Corp

• In December 2021, Commercial Credit Inc (CCI) acquired Keystone Equipment Finance Corp.
• This acquisition aimed to leverage CCI’s resources and expand its transaction range.
• Keystone Equipment Finance Corp specializes in financing new and used equipment for small and mid-sized businesses.

Market Segmentation

By Type

• Equipment Loan
• Equipment Lease
• Other Types

By Provider

• Banks
• Non-Banking Financial Company (NBFC)
• Other Providers

By Application

• Transportation
• Aviation
• Information Technology and Telecommunication
• Manufacturing
• Healthcare
• Construction
• Other Applications

Regional Insights

• North America was the largest region in the equipment finance service market in 2023.
• Asia-Pacific is expected to be the fastest-growing region during the forecast period.

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The Equipment Finance Service Global Market Report 2024  provides an overview of the equipment finance service market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The equipment finance service market forecast analyzes equipment finance service market size, equipment finance service market share, leading competitor and their market positions.

The Table Of Content For The Equipment Finance Service Market Include:
1. Equipment Finance Service Market Executive Summary
2. Equipment Finance Service Market Segments
3. Equipment Finance Service Market Size And Equipment Finance Service Market Growth Rate
4. Key Equipment Finance Service Market Trends
5. Major Equipment Finance Service Market Drivers
……
25. Key Mergers And Acquisitions In The Equipment Finance Service Market
26. Top Equipment Finance Service Companies
27. Equipment Finance Service Market Opportunities And Strategies
28. Equipment Finance Service Market, Conclusions And Recommendations
29. Appendix

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