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Equipment As A Service Market to be Worth $27,804.4 Million By 2030: Grand View Research, Inc.

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The global equipment as a service market size is anticipated to reach USD 27,804.4 million by 2030, according to a new report by Grand View Research, Inc. expanding at a CAGR of 49.9% from 2023 to 2030. Equipment as a Service is gaining traction among a broad spectrum of machine manufacturers as a result of globalization, digitization, and the Internet of Things, which have been significant drivers and catalysts of this innovation in recent years. For instance, a construction equipment model emphasizing usage rather than ownership will enable Volvo clients to invest more money profitably and expand their main business operations.

Key Industry Insights & Findings from the report:

  • The laser cutting machine equipment segment led the market and accounted for 14.9% of the global revenue share in 2022. Given the intense rivalry among manufacturers, the major companies in the laser cutting machine industry are concentrating on lowering the price of these machines by implementing EaaS models, driving market growth.
  • The CNC machines equipment segment is expected to attain a CAGR of 56.4% over the forecast period. EaaS offers manufacturers of CNC machines significant advantages, such as minimizing risk and assuring long-term profitability.
  • The subscription based financing models segment led the market and accounted for 51.5% of the global revenue share in 2022. EaaS reduces risks through recurrent revenue or expenses, predictable subscription pricing, and adaptable contracts. For instance, the International Energy Agency suggests that services for charging electric vehicles as a service offer efficient monitoring & maintenance, and infrastructure installation, in exchange for a subscription fee.
  • Outcome based financing models segment is expected to witness a CAGR of 51.4% over the forecast period. These models charge customers for a specific, measurable business result or value obtained from used services, thereby driving market expansion.
  • In October 2020, the Munich Re Group and TRUMPF Group entered into a strategic agreement, to provide a cutting-edge service for laser cutting machines. Customers can utilize a full-service laser machine without buying owing to the jointly created “pay-per-part concept”. This allows customers to increase the flexibility of their production processes and respond to market developments more quickly.

Read 150-page market research report, “Equipment As A Service Market Size, Share & Trends Analysis Report By Equipment (Air Compressor), By End-use (Construction), By Financing Models (Subscription-based), By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.

Equipment As A Service Market Growth & Trends

Today’s equipment manufacturers are attempting to shift the focus from capital expenditure (CapEx) to operating expenditure (OpEx) in order to increase flexibility, which will further fuel market demand. This effort is being driven by the meteoric rise of well-known B2C offerings like Netflix and Spotify. The benefit of EaaS models is that they make it possible to switch from a high initial CAPEX to a recurrent OPEX model. Equipment as a service (EaaS) models does away with the necessity for substantial investments and the related long-term financial commitment for the consumers of the equipment manufacturers. In the coming years, the demand for equipment as a service will be driven by the aforementioned causes. For instance, the much-touted Rolls-Royce concept, known as “power-by-the-hour” since clients are only charged for each hour of actual usage, has completely changed how the business sells aviation turbines.

Contrary to CAPEX business models, the client relationship is maintained over the long term, much like subscription models. Instead, it is limited to the completion and follow-up of the equipment purchase. As a result, the customer benefits from the manufacturer’s continued responsibility for the product and the machine manufacturer’s continued awareness of the client’s needs. In addition, the manufacturer of the equipment makes ongoing additional revenues through services and gains expertise by having access to user data in addition to one-time earnings. These aforementioned factors will propel the market demand in the coming years.

Machine manufacturers also manage to monitor equipment status as part of EaaS models or Machine as a Service (MaaS), and provide predictive maintenance based on usage data analysis via the IIoT. Furthermore, these models contain more sophisticated services that would often be outsourced. The opportunity for providers to make more money above and beyond their pre-EaaS business model exists here. This business model is being studied by an increasing number of industrial manufacturing enterprises for their machinery, tools, software, and digital services. Examples of companies that have successfully used this business model for industrial devices and equipment include Kaeser (compressors), Heidelberger Druckmaschinen (digital printing machines), and Atlas Copco (mining equipment).

EaaS or MaaS fundamentally enables users to rent machinery for a set length of time or to reach other pre-determined outputs, in contrast to a traditional model where manufacturers sell machinery, equipment, and production systems for a single, upfront cost. Providers can create specialized, user-friendly solutions that satisfy the commercial objectives of their partners owing to this cutting-edge pay-per-use or pay-per-unit-produced business model. For instance, in May 2020, Equipment Financing Group, Milacron’s exclusive finance partner, introduced a new leasing option for machinery upgrades. Milacron is a major industrial technology business serving the plastics processing sector. Moreover, EaaS or MaaS models have benefits over owning, such as cheaper monthly payments that are often made over the course of months or years rather than all at once, thus driving market expansion.

By engaging in a strategic collaboration with the Munich Re Group, for instance, The Heidelberg Group hopes to both grow the amount of revenue it generates through its digital usage-based Subscription Plus model and to further develop it into a shared Equipment as a Service (“EaaS”) model. Through this cross-industry alliance, the two businesses are combining their respective advantages.

Equipment As A Service Market Segmentation

Grand View Research has segmented the global equipment as a service market based on equipment, end-use, financing models, and region:

Equipment As A Service Market – Equipment Outlook (Revenue, USD Million; 2018 – 2030)

  • Air Compressor
  • Pump
  • Power Tools
  • Ground Power Units
  • Laser Cutting Machines
  • Printing Machines
  • CNC Machines
  • Material Handling System
  • Packaging Machine
  • Excavators
  • Cranes
  • Others

Equipment As A Service Market – End-use Outlook (Revenue, USD Million; 2018 – 2030)

  • Construction
    • Air Compressor
    • Pump
    • Power Tools
    • Ground Power Units
    • Excavators
    • Cranes
  • Material Handling
  • Mining
    • Air Compressor
    • Pump
    • Ground Power Units
    • Excavators
    • Cranes
  • Manufacturing
    • Air Compressor
    • Laser Cutting Machines
    • CNC Machines
    • Turning And Milling Machines
  • Packaging
    • Packaging Machine
    • Printing Machines

Equipment As A Service Market – Financing Models Outlook (Revenue, USD Million; 2018 – 2030)

  • Subscription-based
  • Outcome-based

Equipment As A Service Market – Regional Outlook (Revenue, USD Million; 2018 – 2030)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
  • Central & South America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • UAE

List of Key Players in the Equipment As A Service Market

  • TRUMPF
  • Atlas Copco
  • KAESER KOMPRESSOREN
  • Heidelberger Druckmaschinen AG
  • SMS group GmbH
  • Arnold Machine
  • Uteco
  • AB Volvo
  • Exone
  • Siemens
  • Heller Maschinenfabrik GmbH
  • DMG MORI
  • Hilti
  • SK LASER
  • Tamturbo turbo compressors
  • Metso Outotec

Check out more related studies published by Grand View Research:

  • Mining Equipment Market – The global mining equipment market size is anticipated to reach USD 201.55 billion by 2030 registering a CAGR of 5.1% during the forecast period, according to a new report by Grand View Research, Inc. The introduction of automated mining equipment at the major mine sites and the increasing demand for efficient mining equipment is expected to propel the demand during the forecast period.
  • Water Treatment As A Service Market – The global water treatment as a service market is projected to grow at lucrative pace over the coming years. Growing need to dispose municipal and industrial wastewater along with rising need to provide access to clean water are projected to remain key contributors to the market growth. As per the United Nations, over 40% of shortfall in freshwater is expected by 2030, this coupled with rising population can lead to global water crisis in the future. Also, nearly 2.2 billion of global population currently need access to safely managed drinking water.
  • Compressed Air Treatment Equipment Market – The global compressed air treatment equipment market size is anticipated to reach USD 13.57 billion by 2030, according to a new report by Grand View Research, Inc. expanding at a CAGR of 6.2% from 2023 to 2030. Compressed air treatment equipment is widely used in a variety of end-use industries such as chemical, paper, food & beverages, pharmaceutical, healthcare, and others.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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