Over the last year, demand for equipment finance has increased dramatically. Back in June, data from one of the major banks revealed that there had been a significant increase in the demand for equipment in the manufacturing, agriculture and construction industries. There was also a particular increase in the need for excavators and earthmoving machinery.

This high demand for construction equipment does not look to be slowing any time soon, with market research company Aritzon predicting that the need for construction equipment in Australia will continue to rise and that the market size will be valued at an estimated USD 567.3 million by 2027.

According to the report, a high demand for primary mineral commodities over the next five years, such as iron ore and tantalum, will drive the need for construction equipment in the mining sector. Moreover, Australian infrastructure programs led by the government will spark an opportunity for the equipment market to grow, which we have already seen with increased financing of construction machinery. Interestingly, the report also predicts construction equipment that uses green hydrogen fuel will be likely to replace electric equipment over the next five years.

While this report may only be a forecast, it provides us with important insight into what could be on the horizon for the construction equipment market, and by staying on top of market trends you can be sure to plan ahead for future opportunities to purchase or upgrade equipment.

Are you thinking about purchasing equipment for your business and need help with financing? Here at Interlease, our experienced brokers will find the best finance solution for you. Call us on 1300 859 429 to learn more.