Construction Equipment Finance Global Market Report 2024

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 expansion observed during the historical period can be credited to various factors including economic conditions, trends within the construction industry, increased accessibility to financing options, regulatory frameworks, credit availability, substantial manufacturer incentives, and the high resale value of equipment.

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 anticipated growth in the forecast period is influenced by several factors, such as the demand for construction equipment, policies set by central banks and trends in interest rates, initiatives for urban redevelopment and smart cities, the expansion of the construction equipment rental market, considerations in insurance and risk management, and the effects of global economic cycles and recessions. Key trends projected for this period encompass the emergence of digital financing platforms, a transition towards adaptable financing structures, an emphasis on sustainability and green financing, the integration of IoT and telematics, and the proliferation of equipment-as-a-service (EaaS) offerings.

The anticipated expansion in the construction industry is poised to drive the construction equipment finance market forward. This industry segment, integral to the global economy, encompasses the processes involved in erecting, renovating, and upkeeping various structures such as buildings, infrastructure, and industrial facilities. The surge in the construction sector is attributable to enhanced accessibility to adaptable construction equipment finance solutions, empowering companies to procure cutting-edge machinery and broaden their projects more effectively. Construction equipment finance facilitates the management of cash flow for construction enterprises by spreading out the expenses of equipment acquisitions over time, thereby circumventing substantial initial outlays. As evidenced by the construction spending report released by the U.S. Census Bureau in May 2024, expenditure during the initial three months of 2024 reached $461 billion, marking a 10.6% (±1.3%) increase compared to the corresponding period in 2023. Hence, the burgeoning construction industry is propelling the expansion of the construction equipment finance market.

Prominent firms within the construction equipment finance market are directing their efforts towards crafting innovative solutions, such as excavator leasing programs, to address the evolving needs of the industry and furnish flexible options for equipment procurement and utilization. Excavator leasing programs entail agreements wherein contractors or businesses lease excavators rather than outright purchasing them. For instance, in May 2023, Case Construction Equipment, a U.S.-based manufacturer of construction machinery, unveiled CASE Power Lease, a novel excavator leasing initiative. This program offers adaptable lease terms of either 36 months or 3,000 hours and encompasses comprehensive machine warranty coverage and scheduled maintenance throughout the lease duration. Furthermore, it includes an additional year or 1,000 hours of powertrain warranty if the lessee opts to purchase the equipment at the lease's conclusion.

In December 2021, Commercial Credit Inc. (CCI), a U.S.-based commercial finance entity, acquired Keystone Equipment Finance Corp. for an undisclosed sum. This acquisition empowers CCI to penetrate new markets by leveraging Keystone's established customer base and market presence. Keystone Equipment Finance Corp., a U.S.-based provider of small-ticket equipment financing, specializes in serving the transportation and construction sectors.

Major companies operating in the construction equipment finance market are Wells Fargo Equipment Finance Inc., Deere & Company, Komatsu Financial Limited, CNH Industrial Capital LLC, Kubota Credit Corporation, Liebherr-Finanz GmbH, Doosan Corporation, Atlas Copco Financial Services NV, Terex Financial Services, General Electric Corporation, Wacker Neuson Finance B.V., Caterpillar Financial Services Corporation, Hyundai Construction Equipment Co. Ltd., CIT Group Inc., De Lage Landen International B.V., H&E Equipment Services Inc., Société Générale Equipment Finance, Sumitomo Mitsui Finance and Leasing Co. Ltd., Volvo Financial Services, Sany America Inc., JCB Finance Ltd, Mitsubishi UFJ Lease & Finance Company Limited, Bank of America Leasing & Capital LLC, Hitachi Capital America Corp., US Bancorp Equipment Finance Inc.

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.

The countries covered in the construction equipment finance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Construction equipment finance involves providing funding or lease agreements for acquiring machinery and equipment essential for construction projects. This tailored financing solution allows businesses to secure necessary equipment without bearing the entire upfront cost, thereby safeguarding their cash flow and working capital.

The primary forms of construction equipment finance comprise loans and mortgages. Mortgages, distinctively utilized for purchasing real estate such as homes, encompass equipment ranging from earthmoving and material handling to concrete and road construction, as well as transportation, serving diverse needs across enterprises, municipalities, and other sectors. End users span from small and medium enterprises to large corporations.

The construction equipment finance market research report is one of a series of new reports that provides construction equipment finance market statistics, including the construction equipment finance industry global market size, regional shares, competitors with the construction equipment finance market share, detailed construction equipment finance market segments, market trends, and opportunities, and any further data you may need to thrive in the construction equipment finance industry. These construction equipment finance market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The construction equipment finance market consists of revenues earned by entities by providing services such as leasing, equipment rental, vendor financing, and vendor financing. The market value includes the value of related goods sold by the service provider or included within the service offering. The construction equipment finance market also includes sales of excavators, bulldozers, loaders, cranes, and dump trucks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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