KBS - Equipment-as-a-Service - Market Insight

CURRENT LANDSCAPE

Deal flow has remained robust over the last few years even when interest rates were rising, indicating sustained buyer interest.

In 2024, disclosed deal values in this sector rose to $8billion from $5.8billion the previous year and from $4.2billion in 2022.

Moreover, the current market is highly fragmented, with acquirers targeting specialised rental firms focused on niche segments. To add perspective, the top 50 operators represent only 50% of the market and the top 10 represent 25% of the market in Europe.

EAAS MARKET BY REVENUE (NORTH AMERICA AND EUROPE) 2018 - 2025, $ in Billions

U.S. and Canada

Europe

122.6

117.4

109.7

100.3

89.9

86.9

34.6

83.8

33.7

78.9

32.1

31.2

29.0

26.9

27.3

24.1

56.5

54.8

60.9

60.0

69.1

77.6

83.7

88.0

2018A

2019A

2020A

2021A

2022A

2023A

2024A

2025E

In 2024, disclosed deal values in this sector rose to $8billion from $5.8billion the previous year and from $4.2billion in 2022.