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Equipment Finance Services Market to Reach $3,083.8 Billion, Globally, by 2032 at 9.7% CAGR: Allied Market Research
The rise in technological advancements, evolving consumer preferences and demands for flexible financing options and value-added services, and growth in trend towards sustainability and environmental consciousness to offer green financing solutions drive the growth of the equipment finance services market.
PORTLAND, Ore., March 4, 2024 /PRNewswire/ — Allied Market Research published a report, titled, ‘Equipment Finance Services Market by Type (Equipment Loan, Equipment Lease, and Others), Provider (Banks, NBFCs, and Others), and Application (Transportation, Aviation, IT and Telecom, Manufacturing, Healthcare, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032′. According to the report, the global equipment finance services market was valued at $1.2 trillion in 2022, and is projected to reach $3.1 trillion by 2032, growing at a CAGR of 9.7% from 2023 to 2032.
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- 287– Pages
- 157– Tables
- 54– Charts
Prime determinants of growth
The equipment finance services market is driven by technological advancements such as AI, blockchain, and IoT, which revolutionize the asset management and financing processes, thereby attracting both providers and consumers toward equipment finance solutions. Furthermore, evolving consumer preferences and demands for flexible financing options and value-added services drive the market growth. However, regulatory compliance and economic uncertainties restrain the equipment finance services market growth. On the contrary, the growing trend towards sustainability and environmental consciousness to offer green financing solutions is raising the demand for eco-friendly equipment and practices. Moreover, partnerships and collaborations across industries enable equipment finance companies to leverage complementary expertise and resources, expanding their market reach and enhancing their service offerings to meet diverse customer needs in the upcoming years.
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Report Coverage |
Details |
|
Forecast Period |
2022–2032 |
|
Base Year  |
2022 |
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Market Size in 2022 |
$1.2 trillion |
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Market Size in 2032 |
$3.1 trillion |
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CAGR |
9.7 % |
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Segments Covered |
Type, Provider, Application, and Region. |
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Drivers |
Rise in technological advancements Consumer preferences and demands for flexible financing options |
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Opportunities |
Growth in trend toward sustainability and environmental consciousness |
The equipment loan segment to maintain its leadership status throughout the forecast period
By type, the equipment loan segment held the highest market share in 2022, accounting for more than two-thirds of the global equipment finance services market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing demand for modernized equipment across various industries, coupled with favorable financing terms and accessibility for businesses of all sizes. Moreover, the need for flexible repayment options and the potential tax benefits associated with equipment loans further contribute to its expansion. However, the equipment lease segment is projected to manifest the highest CAGR of 12.3% from 2023 to 2032. This is attributed to the fact that it offers businesses the flexibility to acquire necessary equipment without a substantial upfront investment, preserving capital for other operational expenses or investments. Furthermore, leasing allows businesses to access the latest equipment technology without the burden of ownership, enabling them to remain competitive and adaptable to evolving industry standards and customer demands.
The banks segment to maintain its leadership status throughout the forecast period
By provider, the banks segment held the highest market share in 2022, accounting for more than two-thirds of the global equipment finance services market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that banks possess substantial financial resources, enabling them to offer competitive rates and terms to borrowers. Furthermore, their established reputation and credibility inspire trust among customers, attracting businesses seeking reliable financing partners. Bank’s extensive networks and distribution channels allow them to reach a broader customer base, including small and medium-sized enterprises (SMEs) and large corporations alike. However, the NBFCs segment is projected to manifest the highest CAGR of 11.9% from 2023 to 2032, owing to their agile decision-making processes and streamlined operations enabling quicker loan approvals and disbursements, appealing to customers seeking expedited financing.
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The transportation segment to maintain its leadership status throughout the forecast period
By application, the transportation segment held the highest market share in 2022, accounting for around one-fourth of the global equipment finance services market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing global trade and commerce necessitating the expansion and modernization of transportation infrastructure, including fleets of trucks, ships, and aircraft, driving the demand for financing solutions to acquire new vehicles and equipment. However, the healthcare segment is projected to manifest the highest CAGR of 14.4% from 2023 to 2032. This is attributed to the technological advancements in medical equipment, such as advanced imaging systems, robotic surgery systems, and telemedicine solutions, which are driving the demand for equipment upgrades and replacements to enhance patient care and operational efficiency.
North America to maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the equipment finance services market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the technological advancements that are driving the demand for updated equipment across various industries, necessitating flexible financing options to facilitate equipment acquisition in the region. However, Asia-Pacific is expected to witness the fastest CAGR of 13.1% from 2023 to 2032. This is attributed to the rapid industrialization and urbanization in countries such as China, India, and Southeast Asian nations, thereby fueling the demand for modern equipment across various sectors, including manufacturing, construction, and infrastructure development.
Leading Market Players: –
- The PNC Financial Services Group, Inc.
- Keystone Equipment Finance Corp.
- JPMorgan Chase & Co.
- Crest Capital
- First-Citizens Bank & Trust Company
- OnDeck
- Bank of America Corporation
- Wells Fargo
- Balboa Capital
- Smarter Finance USA
The report provides a detailed analysis of these key players in the global equipment finance services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the equipment finance services market analysis from 2022 to 2032 to identify the prevailing equipment finance services market opportunity.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- The Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the equipment finance services market segmentation assists to determine the prevailing equipment finance services market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as equipment finance services market trends, key players, market segments, application areas, and market growth strategies.
By Type
- Equipment Loan
- Equipment Lease
- Others
By Provider
- Banks
- NBFCs
- Others
By Application
- Transportation
- Aviation
- IT and Telecom
- Manufacturing
- Healthcare
- Construction
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (Gcc Countries, South Africa, Rest of Middle East And Africa)
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PANAMA CITY, March 15, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce its participation as a Gold Sponsor at the 5th edition of Next Block Expo (NBX), scheduled for March 19-20, 2025, at Multikino Złote Tarasy in Warsaw, Poland. As one of Europe’s premier Web3 events, NBX 2025 is expected to attract over 2,000 attendees, making it a key platform for blockchain innovation and collaboration.
NBX serves as a dynamic hub for industry leaders, startups, investors, and developers, fostering knowledge-sharing and networking opportunities to drive the future of blockchain. As a firm advocate for Web3 advancements, BingX will showcase its ongoing commitment to innovation through an interactive booth, featuring engaging activities, expert insights, and exclusive giveaways. Attendees will gain firsthand knowledge of how BingX supports high-potential blockchain projects with financial backing, technical expertise, and strategic growth consultations.
In addition to its sponsorship, Vivien Lin, Chief Product Officer of BingX, will be a key speaker at NBX 2025, contributing to discussions on strategic trading approaches, risk management, and the evolving landscape of blockchain investments. She will also deliver a keynote speech exploring BingX’s vision for blockchain innovation and how the company translates emerging technologies into real-world applications.
“At BingX, we believe that true innovation comes from bold ideas and strategic execution,” said Lin. “Sponsoring NBX 2025 is more than just a presence for us — it’s a commitment to fostering a thriving blockchain ecosystem. We are here to connect with visionaries, provide the resources they need, and help shape the future of decentralized technology. By empowering builders and innovators, we’re not just supporting projects — we are accelerating the evolution of Web3 itself.”
BingX’s participation at NBX 2025 underscores its long-term vision of driving blockchain innovation and supporting the next generation of industry leaders. As BingX continues to expand its global footprint, initiatives like this sponsorship reinforce its role as a catalyst for growth in crypto space. By engaging with emerging projects, thought leaders, and investors, BingX remains at the forefront of Web3 advancements, bridging the gap between groundbreaking ideas and real-world impact.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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WEST ATLANTIC CITY, N.J., March 14, 2025 /PRNewswire/ — The Great Bay Insurance Group (the “Group”), a leading provider of coastal homeowners’ insurance in New Jersey, today announced the following leadership changes. Timothy J. Byrne, Jr., has been named as President of the Group and Ronald R. Lovatt has been named President of Great Bay Insurance Company, a wholly owned affiliate of the Group.
Mr. Byrne Jr. has nearly 15 years of industry experience and previously served as the Group’s Chief Operating Officer overseeing the Groups operations and underwriting strategies.
Mr. Timothy J. Byrne, Sr., Chief Executive Officer of the Group, added, “I’m excited to announce the promotion of Tim Jr. to the role of President of The Great Bay Insurance Group and Ron to the role of President of Great Bay Insurance Company. Tim Jr. and Ron have been an integral part of the Group since its founding in 2019.”
As President, Tim Jr. will provide oversight for all corporate support functions and will continue to report to Tim Sr.
Mr. Byrne Jr. holds a BS in Economic and Mathematics from the University of Vermont, an MBA in Risk Management and Insurance from St. John’s University and holds a CPCU designation.
Mr. Lovatt has 40 years of broad insurance industry experience in leadership capacities with international, national, regional and start-up insurance companies. Ron is a founding member of The Great Bay Insurance Group, working with Tim Sr. & Tim Jr. to launch Great Bay in late 2019. Ron currently serves as Chief Underwriting Officer & Chief Claims Officer for The Great Bay Insurance Group, has an MBA from The Wharton School of the University of Pennsylvania, and a Bachelor of Science degree in Economics, Finance, Accounting & Marketing from Miami University.
Contact:
Investor Relations
Brian Schleider, CPA
Chief Financial Officer
609-434-2000, x102
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Fintech PR
Forward Global responds to surge in UK shareholder activism with launch of UK Corporate Contests Practice
LONDON, March 14, 2025 /PRNewswire/ — International risk management firm Forward Global launched its UK Corporate Contests Practice on Tuesday in response to what is described as “all-time high of shareholder activism” in London and Paris.
Speaking ahead of the launch on Tuesday night, Brendan Foo, Partner and Global Head of Corporate Contests at Forward Global, said “As activism gains currency as an asset class, savvy investors are looking toward the UK and Europe to generate alpha. Indeed, in 2025 alone, we have seen an unprecedented demand for our services not just in our traditional strongholds of the US and Canada, but also in the UK and Europe. This reflects the surge in activist (and active) engagements, with which our team is uniquely well-placed to assist.”
Forward Global’s Corporate Contests Practice was established to meet demand from law firms, investors, and advisers to provide a comprehensive suite of services to support companies in high-stakes shareholder engagements. In keeping with the firm’s established activism practice in the US, the new London offering will deliver investigative and intelligence work such as vetting board nominees, relationship mapping, scrutinizing the track records of both incumbents and challengers, and conducting deep-dive reputation analyses. In Europe, Forward Global’s Patrice Lambert-de Diesbach offers clients battle-tested expertise in investor relations and financial communications.
Shareholder activism in the UK has expanded significantly, with campaigns becoming more frequent and sophisticated. In 2023, the number of new public activist campaigns in Europe surged by 68%, with the UK remaining a primary target. US-based activist investors have also increased their focus on UK firms, launching 40% of all UK activist campaigns in 2024. With contested boardroom battles and regulatory shifts on the rise, the expansion of Forward Global’s Corporate Contests practice into the UK is well-timed, equipping issuers with the intelligence and strategies needed to navigate this evolving landscape.
The firm launched the new practice at an exclusive gathering at the International Institute of Strategic Studies in London, bringing together leading voices from the shareholder activism space to discuss the evolving landscape of transatlantic shareholder activism.
The panel discussion, featuring Brendan Foo, Patrick J. McHugh of Okapi Partners, and Sebastian Fain of Freshfields, explored critical considerations for US investors entering the UK market and vice versa, differences in engagement styles across jurisdictions, and strategies for issuers to proactively engage with both activist and active investors. Panelists also examined the impact of anti-DEI and ESG sentiment on investor relations in the UK, as well as how issuers can adapt to evolving regulatory and institutional expectations.
John Watts, Managing Partner of Forward Global UK, added, “Forward Global’s new UK Corporate Contests Practice is designed to provide companies with the strategic intelligence and investigative depth needed to navigate an increasingly complex activist landscape. Our team is committed to equipping clients with the tools to engage proactively with investors, safeguard their strategic interests, and strengthen shareholder relations across Europe.”
Notes for Editors
Forward Global is an international group, with its historic headquarters in France, boasting five main offices in Paris, Brussels, London, Miami, and Washington. As a leading player in risk management with over 450 employees and 30 partners, Forward Global offers an integrated approach across the three major risks: digital, economic, and informational.
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