Renting & Leasing Test and Measurement Equipment Market Overview
Renting & Leasing Test and Measurement Equipment Market Size was valued at USD 4,646.0 Million in 2024. The Global Renting & Leasing Test and Measurement Equipment industry is projected to grow from USD 4,966.6 Million in 2025 to USD 12,831.2 Million by 2035, exhibiting a compound annual growth rate (CAGR) of 9.8% during the forecast period (2025 - 2035).
Cost Saving and Financial Flexibility and Increasing Focus on Quality Control by Manufacturing Companies and Increasing Demand for Test and Measurement Equipment In the Automotive Industry is driving the Global Renting & Leasing Test and Measurement Equipment Market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Renting & Leasing Test and Measurement Equipment Market Trends
SUSTAINABLE PRACTICES AND ENVIRONMENTAL REGULATIONS
The rental and leasing sector for test and measurement equipment is expanding due to sustainable practices and environmental regulations. With the increasing focus on sustainability and the adoption of sustainable technologies in various industries across the globe, the need for affordable, reliable methods of measuring and evaluating performance in these areas has also grown. As an alternative to purchasing the test equipment, renting and leasing help businesses achieve environmental objectives at the same time maintaining compliance with the regulations. One of the primary drivers for growth in the TME rental market is the rise in stringent environmental regulations.
Moreover, the government and other worldwide organizations are rapidly imposing legislation to reduce emissions, improve energy efficiency, and mitigate environmental consequences in industries such as manufacturing, energy, automotive, and telecommunications. These regulations demand that certain tests to be performed on a regular basis, some checks to be performed on a periodical basis, and certain reports to be made on a regular basis. Some of the compliance parameters include air and water quality, emissions, noise level and energy consumption hence companies need to get access to accurate and reliable test equipment’s. Nevertheless, buying costly equipment for compliance with the rules and regulations can be costly, particularly for organizations dealing with ecological issues. Renting or leasing allows businesses to meet their legal responsibilities while avoiding the financial and environmental costs involved with purchasing new equipment. Businesses that employ rental services can use the most current and energy-efficient testing technologies, which often consume less power, assuring compliance while minimizing environmental effect.
In addition, renting and leasing support these principles by reducing the need for manufacturing new equipment and minimizing electronic waste. Instead of purchasing equipment that may become obsolete or underused, businesses can rent devices for specific projects, reducing the volume of unused or discarded equipment. Sustainability also affects business’ internal strategies since the organizations aim at decreasing their emission rates. Leasing providers, who look after, renew and redistribute test and measurement equipment, are capable of providing sustainable products. This depresses demand for new production therefore reduces wastage which is good for the corporate sustainable goals.
Renting & Leasing Test and Measurement Equipment Market Segment Insights
Renting & Leasing Test and Measurement Equipment product Insights
Based on the product, the 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. For smooth operation of the machines, automated control systems incorporate GPTE to control movements of machines. This shift decreases the demand for human labor, which means that components must be tested frequently, thus fueling the market in food and beverage, manufacturing, automotive, and energy and utilities industries.
The diverse GPTE products are oscilloscopes, signal generators, digital multimeters, and power meters that are crucial to industries that emphasize quality, safety, productivity, and innovation. In addition, in the IT and telecommunications areas, GPTE is incorporated into the product manufacturing process so that complicated transformations and testing functions are performed. With many connected IoT devices, cars, home devices, and industrial equipment in use, extensive testing is required, thus boosting the need for GPTE. Global organizations turn to GPTE to ensure quality and testing to help facilitate integration into their business in a globalized environment.
Renting & Leasing Test and Measurement Equipment Components Insights
Based on Components, the 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. SMB (SubMiniature version B): SMB connectors are compact, push-on connectors used for applications requiring reliable connections at frequencies up to several GHz. They are commonly employed in Test & Measurement equipment, particularly in instrumentation and communications devices.
SMC (SubMiniature version C): SMC connectors are smaller than SMB connectors and provide a higher frequency range, typically up to 10 GHz. They are commonly found in Test & Measurement equipment and other electronic devices. USB (Universal Serial Bus): USB connectors are extensively used in Test & Measurement equipment for data transfer and device control. They provide a standardized interface for connecting various devices, such as oscilloscopes, data loggers, and multimeters. Ethernet (RJ-45): Ethernet connectors, often utilizing the RJ-45 interface, are employed for network connectivity in Test & Measurement equipment with networking capabilities. They enable communication and data transfer between instruments and computer networks.
GPIB (General Purpose Interface Bus): GPIB connectors, also known as IEEE 488 connectors, are used in older Test & Measurement equipment to establish connections based on the GPIB standard. They were commonly used for instrument control and data transfer in the past but have been largely replaced by other interfaces.
Figure 1: RENTING & LEASING TEST AND MEASUREMENT EQUIPMENT MARKET, BY COMPONENTS, 2024 & 2035 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Renting & Leasing Test and Measurement Equipment age group Insights
Based on Application, the 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.
These tests make it possible to discover areas of improvement and guarantee the best user experiences. Reliability is very important, particularly in cases where it is imperative to have accurate telecom services. Test and Measurement equipment helps to fine-tune the usage of the network resources and allows the telecoms to manage the users’ loads effectively. Some of the most important issues are still data security and privacy, which means that encryption and protection mechanisms should be tested to identify existing threats. The integration of new technologies such as 5G, IoT, and AI creates several new problems that must be solved together with the help of modern Test and Measurement tools without reducing the quality of the equipment. Also, there are requirements regarding compliance, and Test and Measurement equipment meets them to protect data in computer networks.
Renting & Leasing Test and Measurement Equipment Regional Insights
Based on Region, the 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 Test and Measurement equipment market.
Figure 2: RENTING & LEASING TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION, 2024 & 2035 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, France, Italy, UK, Spain, Japan, UAE, South Africa, Saudi Arabia, Argentina, and Brazil.
Renting & Leasing Test and Measurement Equipment Key Market Players & Competitive Insight
Many global, regional, and local vendors characterize the Renting & Leasing Test and Measurement Equipment Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.
The major players in the market include 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. The Renting & Leasing Test and Measurement Equipment Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.
Key Companies in the Renting & Leasing Test and Measurement Equipment Market include
- TRANSCAT, INC.
- KEYSIGHT TECHNOLOGIES
- NATIONAL INSTRUMENTS
- ANRITSU CORPORATION
- ROHDE & SCHWARZ
- VIAVI SOLUTIONS INC
- TELEDYNE TECHNOLOGIES INCORPORATED
- TECHRENTALS
- COM, INC.
- SUPREME TECHNOLOGY & ENERGY SOLUTIONS PTY LTD.
Renting & Leasing Test and Measurement Equipment Industry Developments
- In November, 2020, Anritsu selected Somerset T&M Solutions as a rental and leasing finance partner to better enable immediate availability and delivery of Anritsu 5G field optical test equipment anywhere in the United States. The agreement helps certified contractors and field teams better meet installation verification requirements and provides immediate close-out package deliverables.
- In June 2024, Rohde & Schwarz joins AI-RAN Alliance and leverages its T&M expertise to unlock potential of AI for wireless communications. The membership marks a significant milestone for Rohde & Schwarz on the road to 6G and takes its ongoing collaboration with industry leaders on AI-native air interfaces to a new level.
Renting & Leasing Test and Measurement Equipment Market Segmentation
Renting & Leasing Test and Measurement Equipment Market by Product Outlook (USD Million, 2019-2035)
Renting & Leasing Test and Measurement Equipment Market by Components Outlook (USD Million, 2019-2035)
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Connectors
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Cable Assemblies
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Value Added Accessories
Renting & Leasing Test and Measurement Equipment Market by Application Outlook (USD Million, 2019-2035)
Global Renting & Leasing Test and Measurement Equipment Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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Report Attribute/Metric
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Details
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Market Size 2024
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USD 4,646.0 Million
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Market Size 2025
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USD 4,966.6 Million
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Market Size 2035
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USD 12,831.2 Million
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Compound Annual Growth Rate (CAGR)
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9.8% (2025-2035)
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Base Year
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2024
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Market Forecast Period
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2024-2035
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Historical Data
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2019- 2023
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Market Forecast Units
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Value (USD Million)
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Report Coverage
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Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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By Product, By Components, By Application and Region
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Geographies Covered
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North America, Europe, Asia-Pacific, and South America, Middle East & Africa.
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Countries Covered
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The U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Sweden, Poland, Rest of Europe, ANZ, Rest of Asia-Pacific, GCC Countries
, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of South America.
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Key Companies Profiled
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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.
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Key Market Opportunities
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SUSTAINABLE PRACTICES AND ENVIRONMENTAL REGULATIONS, PROLIFERATION OF IOT IN TEST AND MEASUREMENT EQUIPMENT INDUSTRY
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Key Market Dynamics
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COST SAVING AND FINANCIAL FLEXIBILITY, INCREASING FOCUS ON QUALITY CONTROL BY MANUFACTURING COMPANIES
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Renting Leasing Test Measurement Equipment Market Highlights:
Frequently Asked Questions (FAQ) :
The Renting & Leasing Test and Measurement Equipment Market size is expected to be valued at USD 12,831.2 million in 2035.
The global market is projected to grow at a CAGR of 9.8% during the forecast period, 2025-2035.
North America had the largest share of the global market.
The key players in the market are 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.
The Telecommunication category dominated the market in 2024.
The General-Purpose Test Equipment segment had the largest share of revenue on the global market.
