Equipment as a Service Market Value to Surpass $1.12B By 2032, Says DataM Intelligence

The Equipment as a Service Market is projected to grow from $0.72B in 2024 to $1.12B by 2032, driven by flexible usage and cost-saving models worldwide.

AUSTIN, TX, UNITED STATES, June 6, 2025 /EINPresswire.com/ -- Equipment as a Service (EaaS) Market – Forecast for 2025

The Equipment as a Service (EaaS) Market Size was valued at USD 0.72 Billion in 2024 and is projected to grow to USD 1.12 Billion by 2032, expanding at a compound annual growth rate (CAGR) of 5.75% between 2025 and 2032.

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Market Value and Growth Outlook
The EaaS market is steadily expanding across industries. With companies looking to reduce capital expenditures and improve asset utilization, the demand for subscription-based equipment models is soaring. Whether in manufacturing, construction, agriculture, or healthcare, the benefits of EaaS are being realized.

By mid-2025, the global market is estimated to be valued in the high hundreds of millions, with projections hinting at a robust compound annual growth rate through the end of the decade. This is not just due to cost savings, but also the integration of smart technologies allowing companies to monitor performance, schedule maintenance, and reduce downtime.

The growth of IoT and digital connectivity is significantly accelerating progress. Smart sensors and cloud platforms now make it easier to track how equipment is used, ensuring companies pay only for what they use while vendors maintain oversight for servicing and upgrades.

Regional Trends

North America remains at the forefront of the EaaS wave. With a strong base of industrial players and technology innovators, adoption is driven by both startups and established enterprises. Demand is particularly high in logistics, heavy machinery, and digital manufacturing.

Europe is adopting the model with a strong focus on sustainability. Companies are increasingly interested in lifecycle management, circular economy practices, and energy-efficient equipment.

Asia-Pacific, however, is emerging as the fastest-growing region. With nations like China, South Korea, and India investing heavily in manufacturing infrastructure, the appetite for flexible, modern equipment solutions is high. The increasing presence of domestic industrial automation startups is also contributing to this momentum.

Key Players in the Market

Several companies are shaping the direction of the EaaS model through innovation, customer-centric service models, and integrated digital tools.

TRUMPF

Atlas Copco

H&E Rentals

SMS group GmbH

Arnold Machine

AB Volvo

Heller Maschinenfabrik GmbH

DMG MORI

Metso Outotec

KAESER KOMPRESSOREN

Market Segmentation:

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 Application: Construction and Mining, Air Compressor, Pump, Power Tools, Ground Power Units, Excavators, Cranes, Others, Manufacturing, Air Compressor, laser cutting machines, CNC machines, Turning and milling machines, Others, Packaging, Packaging Machine, Printing Machines, Material Handling, Others

By Financing: Subscription-Based, Outcome-Based

By End-User: Healthcare, Logistics and Transportation, Financial Services, Government & Institution, Energy and Utilities, Others, Sustainability Analysis, Environmental Analysis, Economic Analysis, Governance Analysis

Industry Developments

In October 2024, H&E Rentals opened its new Kansas City South branch, focusing on rental services for aerial lifts, earthmoving machinery, forklifts, telehandlers, compaction equipment, generators, light towers, and compressors.

In May 2024, TAQA introduced Threlix Drilling Technology's innovative drilling tool designed to enhance drilling operations by minimizing issues like vibrations and torsional oscillations, which often restrict the performance of Rotary Steerable Systems used by oil and gas operators.

Latest News: USA

In the United States, the EaaS model is seeing significant expansion across construction, healthcare, and logistics.
Heavy equipment rental companies are rapidly expanding their smart service offerings, allowing clients to monitor usage, fuel consumption, and maintenance schedules from centralized dashboards.

In states like Texas and California, infrastructure development and renewable energy projects are driving demand for equipment services that can scale up or down as needed.

Smart factories in the Midwest are investing in robotics and machine-as-a-service models to streamline production without locking up capital in aging machinery.

Furthermore, tech hubs are seeing a rise in startups offering digital platforms that match idle equipment with users in need a B2B "Airbnb for machines" model that is catching on quickly.

Latest News: Japan

Japan is known for its precision manufacturing and high-tech innovation, and it's no surprise that the country is embracing EaaS.
Japanese robotics and automation firms are now leasing advanced machines to global clients on service contracts. These include everything from automated assembly lines to surgical robots.

Japan’s construction sector, facing both labor shortages and rising project demands, is turning to EaaS models to access modern, AI-equipped machinery without long procurement cycles.

Smart cities under development in Tokyo and Osaka are experimenting with service-based infrastructure models, including shared municipal equipment and tools used in public works.

A cultural focus on efficiency and lean operations makes Japan an ideal environment for EaaS to thrive. The country’s manufacturers are even exporting their service model strategies to Southeast Asia and Europe.

Experts Thoughts

EaaS is more than a shift in how equipment is used it's a transformation in how businesses think. From startups to global conglomerates, companies are realizing that ownership isn’t always the best option. With digital technologies, flexible financing, and global demand for agility, the Equipment as a Service market is positioned for remarkable growth in the coming years.

As we look ahead to the rest of 2025 and beyond, it’s clear that EaaS is not just reshaping balance sheets it's reinventing how industries operate.

Experts Researched Related Reports By DataM Intelligence

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Mobility as a Service Market Size

Sai Kiran
DataM Intelligence 4Market Research
+1 877-441-4866
Sai.k@datamintelligence.com
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