This report forecasts 2024 equipment investments and capital spending in the U.S. and evaluates the effects of various related and external factors now and into the future.

The equipment finance industry expanded to an estimated $1.34 trillion in 2023—a new all-time high—with 82% of end-users using some form of financing to fund their equipment and software (E&S) acquisitions, according to an end-user survey from the Equipment Finance Industry Horizon Report 2024. The report also reveals that of $2.3 trillion (nominal) in E&S investment in 2023, approximately 57.7% (and 64.2% of private sector investment) was financed.

This paper evaluates the current and expected competitive landscape for both banks and independent equipment finance companies in the equipment finance industry.