Renting & Leasing Test and Measurement Equipment Market, are expected to drive market expansion in the near future at a CAGR of 9.8% during the forecast period 2024 to 2035

Market Research Future (MRFR) has published a cooked research report on the “Global Renting & Leasing Test and Measurement Equipment Market” that contains information from 2019 to 2035.

The Global Renting & Leasing Test and Measurement Equipment Market is estimated to register a CAGR of 9.8% during the forecast period of 2024 to 2035.

MRFR recognizes the following companies as the key players in the Global Renting & Leasing Test and Measurement Equipment Market— TRANSCAT, INC., KEYSIGHT TECHNOLOGIES, NATIONAL INSTRUMENTS, ANRITSU CORPORATION, ANRITSU CORPORATION, VIAVI SOLUTIONS INC, TELEDYNE TECHNOLOGIES INCORPORATED, TELEDYNE TECHNOLOGIES INCORPORATED, ELECTRORENT.COM, INC., SUPREME TECHNOLOGY & ENERGY SOLUTIONS PTY LTD., among others.

Market Highlights

The Global Renting & Leasing Test and Measurement Equipment Market is estimated to register a CAGR of 9.8% during the forecast period and is estimated to reach USD 12,831.2 Million by 2035.

In today’s rapidly changing environment, where technologies are advancing continuously, companies need to modify quickly to new testing requirements. Renting or leasing equipment offers a cost-effective solution that helps businesses manage these changes efficiently.  Purchasing high-end test and measurement equipment often involves substantial upfront investment, which can strain a company’s budget, especially for small and medium-sized enterprises (SMEs). Renting or leasing enable businesses to avoid large capital investments and instead spread costs over time, maintaining liquidity and enabling better allocation of financial resources toward core operations or innovation.

In addition, in industries where testing standards improves rapidly, purchasing equipment can lead to obsolescence within a short time frame. Both rental and leasing provide companies an opportunity to use modern, efficient technologies for a shorter period of time than ownership. This makes it possible for the businesses to be in a position to adopt the latest standards as the companies keep on running their operations without having to incur losses in the costs of equipment that are deemed to be useful in the manufacturing process. Furthermore, rented or leased facilities also have the advantage of flexibility where project management is concerned. 

Companies conveniently upscale, or down depending on the needs of a specific project, there is no long-term investment in equipment if the need is temporary or short term. This is especially important to those companies that face the issue of uncertainty in the demand or the need to experiment with various types of technologies on different stages of their development. Therefore, cost savings and financial flexibility are the major factors that have led to the expansion of the rental and leasing market for test and measurement equipment especially in industries that are experiencing rapid technological developments.

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Segment Analysis

The Global Renting & Leasing Test and Measurement Equipment Market has been segmented based On By Product, By Components, By Application.

Based on the product, the global Renting and Leasing Test and Measurement Equipment Market has been segmented into General Purpose Test Equipment, Wireless Test Equipment, Semiconductor Test Equipment and RF Test Chambers. The General-Purpose Test Equipment segment held the largest market share in 2024, and the Semiconductor Test Equipment segment is the fastest-growing segment during the forecast period (2024 -2035). The General-Purpose Test Equipment segment is currently enjoying healthy growth on account of the following factors. The use of smart-connected devices in various industries increases the need for GPTE since these devices need to be tested to meet quality and performance levels. Also, the advancement in implementation of industrial automation in aerospace, industrial, and electronics industries has also contributed to demand for GPTE.

Based on Components, the global Renting and Leasing Test and Measurement Equipment Market has been segmented into Connectors, Cable Assemblies and Value-Added Accessories. The Connectors segment held the largest market share in 2024, and the Cable Assemblies segment is the fastest-growing segment during the forecast period (2024 -2035). Test & Measurement uses a variety of interconnects to establish reliable connections with different devices and components. The specific connectors employed can vary depending on the type of instrument, its intended application, and the required electrical and mechanical characteristics. Commonly used cable and connector types used in Test & Measurement equipment include - TNC (Threaded Neill-Concelman): TNC connectors are similar to BNC connectors but have a threaded interface. They provide a more secure connection and are often used in applications requiring higher mechanical stability.

Based on Application, the global Renting and Leasing Test and Measurement Equipment Market has been segmented into Aerospace & Defence, Healthcare & Medical Equipment, Telecommunication, Electronics & Semiconductor, Industrial Manufacturing, Automotive, And Others. The Telecommunication segment held the largest market share in 2024, and the Automotive segment is the fastest-growing segment during the forecast period (2024 -2035). The usage of Test and Measurement equipment in the telecommunication sector is increasing because of some significant factors that determine the quality of services and effectiveness of operations. Telecom providers must ensure that customers get the best possible experience, and any complaint is addressed instantly as the customer’s expectations continue to grow.

Regional Analysis

Based on Region, the global Test and Measurement Equipment is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The North America Commercial Kitchen Ventilation system market accounted for largest market share in 2024, and Asia-Pacific is expected to exhibit significant CAGR growth during the study period.

In North America, the consumption of Renting and Leasing Test and Measurement equipment remains high and is increasing because of the following reasons. The region is technologically advanced and has made enormous research and development spendings in the fields of telecommunication, aviation space, automobile, and health. Fast-paced implementation of modern technologies like 5G, IoT, and self-driving cars creates the demand for complex Test and Measurement solutions for performance, quality, and conformity with the required norms and requirements. Industry 4.0 is thus implemented by North American companies as leading key players in the industrial revolution. 0, smart manufacturing processes and automation, which in turn creates a stronger need for high-precision Test and Measurement equipment. 

Also, the trends that focus on data and quality in various industries, including pharmaceutical and consumer electronics, also play a role in the growth of sophisticated testing needs. The region is highly innovative, latest infrastructure and technology investments also are other factors that help in sustaining the market for Test and Measurement equipment. In addition, North America’s stronger and more developed legal requirements for equipment testing and high demands for equipment quality and safety also increases the need for more sophisticated testing solutions.

The Asia-Pacific region is therefore witnessing a steep rise in Test and Measurement equipment consumption due to industrialization, development of new technologies, as well as the growing population. The Asian countries such as China, India, Japan, and South Korea are the pioneers of technology and manufacturing industry, which demands the advanced Test and Measurement solutions in various fields. Growing infrastructural development towards smart city and its various projects along with electronics and telecommunication industries and automotive industries plays a vital role in escalating the demand for high-performance testing equipment. The expansion of 5G networks at a very progressive rate and the emphasis on semiconductor manufacturing and consumer electronics also increase the demand for improved Test and Measurement solutions. Further, the focus on quality and regulation in the industries like pharmaceuticals, automotive, and food & beverages of the region increases the need for accuracy in testing equipment. The Asia-Pacific market also has high research and development investments as well as government support for technology development for the Test and Measurement equipment market.

Key Findings of the Study

• The Global Renting & Leasing Test and Measurement Equipment Market is expected to reach USD 12,831.2 Million by 2035, at a CAGR of 9.8% during the forecast period.


• The Asia-Pacific region accounted for the fastest growth in the global market.


• Based on Sales Channel, the Offline segment was attributed to holding the largest market in 2024.


• TRANSCAT, INC., KEYSIGHT TECHNOLOGIES, NATIONAL INSTRUMENTS, ANRITSU CORPORATION, ANRITSU CORPORATION, VIAVI SOLUTIONS INC, TELEDYNE TECHNOLOGIES INCORPORATED, TELEDYNE TECHNOLOGIES INCORPORATED, ELECTRORENT.COM, INC., SUPREME TECHNOLOGY & ENERGY SOLUTIONS PTY LTD., among others are key market players.