How Big Is the Equipment As a Service Market | Growth Stats & Trends 2025

Q: What is the size of the Equipment As a Service market in 2024?

The market was valued at USD 7.4 billion in 2024 and is projected to grow rapidly due to industrial digitalization and financial flexibility needs.

Q: What industries are major users of the EaaS model?

Key industries include manufacturing, construction, healthcare, energy, and logistics.

Q: What are the major trends in the EaaS market?

Key trends include predictive maintenance, subscription-based equipment usage, and bundled digital services.

Q: Who are the major players in the EaaS market?

Notable companies include Siemens, Caterpillar, GE Digital, Atlas Copco, and HILTI.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA6324

Publication Date: Jul 2025

How Big Is the Equipment As a Service Market?

According to 6Wresearch internal database and industry insights, Global Equipment As A Service Market was valued at USD 2.9 Billion in 2024 and is expected to reach USD 7.4 Billion by 2031, growing at a compound annual growth rate of 14.36% during the forecast period.

This growth is being bolstered by increasing demand for asset-light models across manufacturing and industrial sectors, enabling businesses to access high-end machinery without the burden of ownership.

View Main Report

Schedule Analyst Call

Key Growth Factors of the Equipment As a Service Market

There has been widespread adoption of subscription-based and pay-per-use models in manufacturing
Cost-efficiency and reduced CAPEX appealing to SMEs and mid-sized firms
Advancements in IoT and AI for remote monitoring, performance tracking, and predictive maintenance
The need for operational flexibility in industrial and construction sectors has increased
Government support for Industry 4.0 transitions in Germany, China, and the U.S
OEMs shifting from one-time sales to recurring revenue models

Equipment As a Service Market Trends

Equipment As a Service Marketis witnessing growing traction among OEMs and end-users as digital transformation accelerates. With IoT sensors and cloud-based platforms enabling usage tracking, billing, and predictive analytics, companies are shifting to outcome-based service agreements.

Increasing focus on equipment uptime and customer experience is fostering partnerships between tech providers and equipment manufacturers. Industries like healthcare, energy, and logistics are integrating EaaS models to ensure cost control, scalability, and higher operational agility.

Emerging Developments in the Equipment As a Service Market

Equipment As a Service Marketis projected to witness key developments in the years to come. For instance, OEMs bundling equipment with digital services, offering value-added maintenance contracts and real-time diagnostics. Startups and tech firms are introducing blockchain-enabled leasing contracts and smart financing tools that automatically adjust based on usage.

In addition to this, the emergence of hybrid EaaS models combining leasing, rental, and SaaS-like features is reshaping procurement strategies in sectors such as construction, agriculture, and food processing machinery.