SIC 7359 - Equipment Rental And Leasing, Not Elsewhere Classified
SIC 7359 - EQUIPMENT RENTAL AND LEASING, NOT ELSEWHERE CLASSIFIED
View full description Collapse full description
Establishments primarily engaged in renting or leasing (except finance leasing) equipment, not elsewhere classified.
Establishments primarily engaged in finance leasing are classified in Finance, Industry 6159.
Establishments renting and leasing automobiles and trucks without drivers are classified in Industry Group 751; those renting automobiles with drivers are classified in Transportation and Public Utilities, Industry 4119; those renting trucks with drivers are classified in Transportation and Public Utilities, Industry Group 421; those renting personal items such as lockers (other than refrigerated), clothes, and pillows are classified in Industry 7299; those renting amusement and recreation items, such as bicycles, canoes, and beach chairs and accessories are classified in Industry 7999; and those renting commercial boats are classified in Transportation and Public Utilities, Industry 4499.
Establishments producing machinery and equipment (including computers and other data processing equipment) which lease or sell their products are classified in Division D, Manufacturing. Manufacturers'sales branches or offices leasing or selling the machinery and equipment of their manufacturing plant are classified in Division F, Wholesale Trade.
Establishments primarily engaged in leasing computer time, including time sharing services, are classified in Industry 7374; and those renting or leasing computers or data processing equipment are classified in Industry 7377.
Explore the industry hierarchy
Drill down to explore more specific industries.
Industry trends
The equipment rental and leasing industry (NAICS 7359) is witnessing notable qualitative trends. One significant trend is the increasing adoption of digital platforms and mobile applications that streamline operations, improve customer experience, and offer real-time inventory management. This digital transformation is becoming crucial as customers demand faster and more efficient service.
Sustainability is another important trend. There is a growing emphasis on renting environmentally friendly and energy-efficient equipment. Companies are investing in green technologies and eco-friendly equipment to meet regulatory requirements and cater to environmentally conscious clients.
Additionally, the industry is seeing a surge in demand due to the growing preference for leasing over purchasing. This shift is driven by the need for flexibility, cost-effectiveness, and risk mitigation. This trend is particularly prominent in sectors like construction and manufacturing, where high capital costs and economic uncertainties make leasing an attractive option.
Looking ahead, forecasts suggest continued growth in the equipment rental and leasing market, driven by infrastructure development projects, technological advancements, and the rising need for equipment across various industries. Companies that adapt to digitalization and sustainability trends are likely to gain a competitive edge in the near future.
- Investment in renewable energy and grid modernization continues to accelerate.
- Regulatory changes and sustainability initiatives are shaping long-term growth.
- Operational efficiency and technology adoption are key focus areas.
Get the Full Industry Report
In-depth analysis, 50+ financial ratios, 4-year trends, and industry forecasts.