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United States Material Handling Equipment Leasing and Financing Market: By Type: Cranes, Conveyors, Industrial Trucks and Lifts, Others; By Application: Warehouse Management, Assembly, Bulk Handling, Others; By Industry Vertical: Manufacturing, E-commerce, Mining, Others; Regional Analysis; Competitive Landscape; 2024-2032
United States Material Handling Equipment Leasing and Financing Market Outlook
The United States material handling equipment leasing and financing market size reached approximately USD 1.15 billion in 2023. The market is projected to grow at a CAGR of 15.2% between 2024 and 2032, reaching a value of around USD 4.13 billion by 2032.
Key Takeaways
- Sale of class 8 trucks recorded a year-on-year growth of 14.6% in 2022 in the US.
- Transportation equipment accounted for 24.7% of all equipment in the US, which contributed to a surge in businesses in 2022.
- The demand for leasing material handling equipment is expected to grow significantly from small-size businesses in upcoming years.
Material handling equipment like mezzanines, palletizers, reclaimers, and forklifts are expensive and require a significant amount of investment from businesses. They simplify the task of organising inventory, processing materials, and packaging and transporting them to the designated area.
With the emergence of flexible leasing and financing options, the financial burden of equipment ownership has been eliminated for businesses, giving them the flexibility of switching to newer machines with advancements in technologies.
The market is being driven by the expansion of various industries, including retail and e-commerce, in the USA. As banks and financial institutions continue to diversify their digital presence, the accessibility of financial loans and other forms of support is increasing.
Over the forecast period, the United States material handling equipment leasing and financing market is expected to grow amid increasing attempts by financial services firms to expand their product portfolio and benefit businesses with attractive leasing and financing schemes.
Key Trends and Developments
Reduced interest rates on borrowings; labour shortage for material handling; increasing demand for material handling equipment from small and medium-sized businesses; and the high popularity of leasing are the major trends impacting the market growth.
| Date | Company | Details |
| Feb. 13th 2024 | Gordon Brothers | Provided a 5-year operating lease for tools worth $5 million to a company providing aerospace and defence industry solutions. |
| Feb. 9th 2024 | Fleet Advantage | America’s biggest independent lessor of heavy-duty trucks exceeded $1 billion in lease volume. |
| Jan. 31st 2024 | Sany America Inc. | A construction equipment manufacturer entered into a partnership with DLL, a global equipment financier. |
| Mar. 6th 2023 | Tandem Finance | Provided small ticket equipment funding worth $333 million in 2022, thereby recording year-on-year growth of 58%. |
| Factor | Impact on the Market Growth |
| Reducing interest rates for borrowings | The lowering interest rates are prompting businesses across the US to lease and finance material handling equipment for improved working capital. |
| Labour shortage for material handling | With growing concerns regarding labour shortages and rising safety issues associated with manual labour, enterprises are leasing automated material handling equipment. |
| Small and medium-sized businesses | SMEs increasingly financing and leasing material handling equipment to easily update equipment, gain eligibility for tax credits, and eliminate high costs associated with purchases. |
| High popularity of leasing material handling equipment | The increasing development of portable material handling equipment and expanding industry demands are boosting the popularity of leasing material handling equipment. |
United States Material Handling Equipment Leasing and Financing Market Trends
Flexible and convenient options for leasing and financing material handling equipment are necessary for businesses seeking to enhance their profits to create a hedge fund for times of economic slowdowns and losses.
Retailers who seek to expand their market presence through e-commerce channels and companies who seek to benefit from automated machines without getting their investments locked into a particular technology are enhancing the demand for simple leasing and financing options for material handling equipment.
The manufacturing industry is expected to witness a shortage of 2.1 million workers for material handling by 2030, which can contribute to the demand for financing bulky machines and automated robots.
Market Segmentation
“United States Material Handling Equipment Leasing and Financing Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| by Type | Cranes, Conveyors, Industrial Trucks and Lifts, Others |
| by Application | Warehouse Management, Assembly, Bulk Handling, Others |
| by Industry Vertical | Manufacturing, E-Commerce, Mining, Food and Beverage, Others |
| by Region | New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, Far West |
Industrial trucks and lifts are expected to dominate the United States material handling equipment leasing and financing market share in the forecast period
8/10 businesses require some sort of leasing/financing support to purchase new trucks or software. The most common option for financing these trucks and lifts was leasing (26%), followed by other options like secured loans (19%) and lines of credit (17%).
Since industrial trucks and lifts are important for handling and transporting goods over long distances, their demand is expected to contribute to the United States material handling equipment leasing and financing market development in the coming years.
The demand for other engineered systems, including warehouse robots and automated guided vehicles is also expected to witness significant growth in the forecast period as various industries switch towards automating crucial tasks like storing, packaging, and shelving materials.
The US mining and manufacturing industry is expected to increase the demand for bulk handling equipment over the forecast period
Since the mining and quarrying industry requires efficient processing systems that can crush, grind, and mix minerals effectively, the demand for bulk handling systems is likely to gain momentum over the forecast period.
Moreover, the manufacturing industry requires a sophisticated arrangement of equipment capable of storing, loading, and unloading materials efficiently, hence the demand for conveyors and hoppers is fuelling the United States material handling equipment leasing and financing market.
With the expansion of the e-commerce industry in the USA, the demand for warehouse management equipment like palletisers, and smart robots is expected to gain momentum, which is likely to drive the market growth. A similar trend can be observed for assembly and other equipment.
Competitive Landscape
Major players in the United States material handling equipment leasing and financing market are offering flexible and convenient financing options to the retail industry
| Company | Founded/Incorporated | Location | Business |
| First Citizens BancShares, Inc. | 1898 | North Carolina, United States | Providing financial services to a wide range of consumers and businesses, including leasing, financing, and treasury management services, among others. |
| Pacific Rim Capital, Inc. | 1990 | California, United States | Biggest providers of financing solutions for equipment in North America. Provides expert analysis to optimize the equipment’s useful life. |
| Clark Equipment Group | 1948 | New South Wales, Australia | Designing and manufacturing material handling equipment with its annual sales exceeding $200 million. |
| Tandem Finance | 2018 | Colorado, USA | Owned by the Chesswood Group Limited and is engaged in providing financing support to small and medium-sized businesses for purchasing material handling equipment. |
Other key players in the United States material handling equipment leasing and financing market include Crest Capital LLC, Element Vehicle Management Services Group, LLC, Trust Capital, De Lage Landen International B.V., Taylor Leasing & Rental, Inc., and Harbor Services Group, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Material Handling Equipment Leasing and Financing Market Overview
8.1 Key Industry Highlights
8.2 North America Material Handling Equipment Leasing and Financing Historical Market (2018-2023)
8.3 North America Material Handling Equipment Leasing and Financing Market Forecast (2024-2032)
9 United States Material Handling Equipment Leasing and Financing Market Overview
9.1 Key Industry Highlights
9.2 United States Material Handling Equipment Leasing and Financing Historical Market (2018-2023)
9.3 United States Material Handling Equipment Leasing and Financing Market Forecast (2024-2032)
10 United States Material Handling Equipment Leasing and Financing Market by Type
10.1 Cranes
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Conveyors
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Industrial Trucks and Lifts
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 United States Material Handling Equipment Leasing and Financing Market by Application
11.1 Warehouse Management
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Assembly
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Bulk Handling
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 United States Material Handling Equipment Leasing and Financing Market by Industry Vertical
12.1 Manufacturing
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 E-commerce
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mining
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Food and Beverage
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 United States Material Handling Equipment Leasing and Financing Market by Region
13.1 New England
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mideast
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Great Lakes
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Plains
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Southeast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Southwest
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Rocky Mountain
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.8 Far West
13.8.1 Historical Trend (2018-2023)
13.8.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 First Citizens BancShares, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Crest Capital LLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Element Vehicle Management Services Group, LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Trust Capital
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 De Lage Landen International B.V.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Pacific Rim Capital, Inc.,
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Clark Equipment Group
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Taylor Leasing & Rental, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Tandem Finance
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Harbor Services Group, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Material Handling Equipment Leasing and Financing Market: Key Industry Highlights, 2018 and 2032
2. United States Material Handling Equipment Leasing and Financing Market: Key Industry Highlights, 2018 and 2032
3. United States Material Handling Equipment Leasing and Financing Historical Market: Breakup by Type (USD Billion), 2018-2023
4. United States Material Handling Equipment Leasing and Financing Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. United States Material Handling Equipment Leasing and Financing Historical Market: Breakup by Application (USD Billion), 2018-2023
6. United States Material Handling Equipment Leasing and Financing Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. United States Material Handling Equipment Leasing and Financing Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
8. United States Material Handling Equipment Leasing and Financing Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
9. United States Material Handling Equipment Leasing and Financing Historical Market: Breakup by Region (USD Billion), 2018-2023
10. United States Material Handling Equipment Leasing and Financing Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. United States Material Handling Equipment Leasing and Financing Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1.15 billion.
The market is estimated to grow at a CAGR of 15.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 4.13 billion by 2032.
The market is being driven by the thriving economic conditions in the USA and an expansion in the size of various industries.
The key trends aiding the market expansion include reducing interest rates on borrowings, labour shortage for material handling, increasing demand for leasing from small and medium size businesses, and high popularity of leasing.
The major types of material handling equipment include cranes, conveyors, and industrial trucks and lifts, among others.
The major industry verticals include manufacturing, e-commerce, mining, retail, and food and beverage, among others.
The major players in the market are First Citizens BancShares, Inc., Crest Capital LLC, Element Vehicle Management Services Group, LLC, Trust Capital, De Lage Landen International B.V., Pacific Rim Capital, Inc., Clark Equipment Group, Taylor Leasing & Rental, Inc., Tandem Finance, and Harbor Services Group, Inc., among others.
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