India Equipment As A Service Market Size & Outlook
India equipment as a service market, 2018-2030 (US$M)
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India equipment as a service market highlights
- The India equipment as a service market generated a revenue of USD 38.8 million in 2023 and is expected to reach USD 855.1 million by 2030.
- The India market is expected to grow at a CAGR of 55.6% from 2024 to 2030.
- In terms of segment, laser cutting machines was the largest revenue generating equipment in 2023.
- CNC machines is the most lucrative equipment segment registering the fastest growth during the forecast period.
Equipment as a service market data book summary
| Market revenue in 2023 | USD 38.8 million |
| Market revenue in 2030 | USD 855.1 million |
| Growth rate | 55.6% (CAGR from 2023 to 2030) |
| Largest segment | Laser cutting machines |
| Fastest growing segment | CNC machines |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Air Compressor, Pump, Power Tools, Ground Power Units, Laser cutting machines, Printing Machines, CNC machines, Material handling system, Packaging Machine, Excavators, Cranes, Turning and milling machines |
| Key market players worldwide | Atlas Copco AB ADR, Heidelberger Druckmaschinen AG, Desktop Metal Inc Ordinary Shares - Class A, Siemens AG, Dmg Mori Co Ltd, Hilti Group, Metso Corp, TRUMPF, Kaeser Kompressoren, SMS Group, Arnold Machine Inc., Uteco Converting, Volvo AB Class B, Maschinenfabrik HEID, Sk Laser, Tamturbo |
Other key industry trends
- In terms of revenue, India accounted for 2.6% of the global equipment as a service market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China equipment as a service market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,491.2 million by 2030.
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Equipment As A Service Market Scope
Equipment As A Service Market Companies
| Name | Profile | # Employees | HQ | Website |
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India equipment as a service market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to equipment as a service market will help companies and investors design strategic landscapes.
Laser cutting machines was the largest segment with a revenue share of 15.46% in 2023. Horizon Databook has segmented the India equipment as a service market based on air compressor, pump, power tools, ground power units, laser cutting machines, printing machines, cnc machines, material handling system, packaging machine, excavators, cranes, turning and milling machines covering the revenue growth of each sub-segment from 2018 to 2030.
According to the data published by OICA, the production of cars and commercial vehicles in India reached 5,456,857 in 2022, illustrating an increase of approximately 24%. The increase in production and exports in the automotive industry is further expected to fuel the demand for equipment such as CNC machines.
The equipment as a Service module can provide a strategic solution to meet the increasing demand for CNC machines and increase access of manufacturing companies to this equipment.
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Target buyers of India equipment as a service market databook
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Our clientele includes a mix of equipment as a service market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India equipment as a service market , including forecasts for subscribers. This country databook contains high-level insights into India equipment as a service market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India equipment as a service market size, by equipment, 2018-2030 (US$M)
India Equipment As A Service Market Outlook Share, 2023 & 2030 (US$M)
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