Tools commonly used in the Leasing Equipment industry for day-to-day tasks and operations.

• Forklifts
• Cranes
• Excavators
• Bulldozers
• Skid Steer Loaders
• Backhoes
• Scissor Lifts
• Boom Lifts
• Air Compressors
• Welding Equipment
• Power Tools
• Scaffolding
• Concrete Mixers
• Pressure Washers
• Generators
• Lighting Equipment
• Surveying Equipment
• Traffic Control Equipment
• HVAC Equipment
• Medical Equipment

Common products and services typical of NAICS Code 532420-07, illustrating the main business activities and contributions to the market.

• Construction Equipment Leasing
• Industrial Equipment Leasing
• Agricultural Equipment Leasing
• Medical Equipment Leasing
• Transportation Equipment Leasing
• Material Handling Equipment Leasing
• Mining Equipment Leasing
• Oil and Gas Equipment Leasing
• Event Equipment Leasing
• Audiovisual Equipment Leasing

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Commercial Driver's License (CDL): A CDL is required for drivers of certain types of leased equipment, such as trucks and trailers. The Federal Motor Carrier Safety Administration (FMCSA) provides information on obtaining a CDL.
• Occupational Safety and Health Administration (OSHA) Certification: OSHA certification is required for workers who operate certain types of leased equipment, such as forklifts and cranes. OSHA provides information on certification requirements and training programs.
• Environmental Protection Agency (EPA) Certification: EPA certification is required for workers who handle refrigerants in leased equipment, such as air conditioning units. The EPA provides information on certification requirements and training programs.
• National Institute for Automotive Service Excellence (ASE) Certification: ASE certification is required for workers who perform maintenance and repairs on leased equipment, such as cars and trucks. ASE provides information on certification requirements and testing programs.
• Federal Aviation Administration (FAA) Certification: FAA certification is required for workers who operate leased aircraft. The FAA provides information on certification requirements and training programs.

A concise historical narrative of NAICS Code 532420-07 covering global milestones and recent developments within the United States.

• The leasing equipment industry has a long history dating back to the early 20th century when companies began leasing equipment to farmers. In the 1950s, the industry expanded to include leasing of office equipment such as typewriters and adding machines. The industry continued to grow in the 1960s and 1970s with the introduction of computer leasing. In recent years, the industry has seen significant growth due to the rise of the sharing economy and the increasing popularity of equipment leasing for small businesses. In the United States, the industry has seen a surge in demand for construction equipment leasing due to the growth of the construction industry and the need for specialized equipment.

The anticipated future trajectory of the NAICS 532420-07 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Growing

  The future outlook for the Leasing Equipment industry in the USA is positive. The industry is expected to grow due to the increasing demand for leasing equipment in various sectors such as construction, healthcare, and transportation. The rise in technological advancements and the need for cost-effective solutions are also driving the growth of the industry. Additionally, the increasing trend of renting equipment instead of purchasing is expected to boost the industry's growth. However, the industry may face challenges such as the availability of capital and the impact of the COVID-19 pandemic on the economy. Overall, the industry is expected to grow steadily in the coming years.

Recent groundbreaking advancements and milestones in the Leasing Equipment industry, reflecting notable innovations that have reshaped its landscape.

• Smart Equipment: The industry is witnessing the development of smart equipment that can monitor and optimize performance, reduce downtime, and improve safety.
• Online Leasing Platforms: The emergence of online leasing platforms is making it easier for customers to lease equipment and for leasing companies to manage their operations.
• Sustainable Equipment: The industry is moving towards sustainable equipment that is energy-efficient and eco-friendly.
• Telematics: The use of telematics is becoming more prevalent in the industry, allowing leasing companies to track equipment usage, location, and maintenance needs.
• Augmented Reality: The use of augmented reality is helping customers visualize how equipment will fit into their operations and how it will perform.