Equipment Leasing and Finance Association Announces Top 10 Equipment Acquisition Trends for 2020
WASHINGTON--(BUSINESS WIRE)--Jan 23, 2020--
The Equipment Leasing and Finance Association (ELFA), which represents the nearly $1 trillion equipment finance sector, today revealed its Top 10 Equipment Acquisition Trends for 2020. Given U.S. businesses, nonprofits and government agencies are expected to spend $1.91 trillion in capital goods or fixed business investment (including software) this year, financing a majority of those assets, these trends impact a significant portion of the U.S. economy.
ELFA President and CEO Ralph Petta said, “Equipment acquisition drives supply chains across all U.S. manufacturing and service sectors. Nearly 80 percent of U.S. businesses use equipment leasing and financing to acquire the productive assets they need to operate and grow. We are pleased to again provide the Top 10 Equipment Acquisition Trends to help businesses understand the market environment and make their strategic equipment acquisition plans.”
ELFA distilled recent research data, including the Equipment Leasing & Finance Foundation’s 2020 Equipment Leasing & Finance U.S. Economic Outlook, industry participants’ expertise and member input from ELFA meetings and conferences, in compiling the trends.
ELFA forecasts the following Top 10 Equipment Acquisition Trends for 2020:
For a video and an infographic highlighting the Top 10 Equipment Acquisition Trends for 2020, go to www.EquipmentFinanceAdvantage.org/rsrcs/articles/10trends.cfm.
ELFA has an informational website for businesses that want to learn more about how they can incorporate equipment financing into their business strategies. For resources about equipment financing, including a digital toolkit, videos and infographics, go to www.EquipmentFinanceAdvantage.org.
For forecast data regarding equipment investment and capital spending in the United States, see the Equipment Leasing & Finance Foundation’s 2020 Equipment Leasing & Finance U.S. Economic Outlook at www.leasefoundation.org/industry-resources/u-s-economic-outlook/.
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the nearly $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org.
ELFA is the premier source for statistics and analyses concerning the equipment finance sector. Please visit www.elfaonline.org/Data/ for additional information.
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Amy Vogt, Vice President, Communications and Marketing, ELFA, 202-238-3438 firstname.lastname@example.org
KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA
INDUSTRY KEYWORD: FINANCE BANKING MANUFACTURING OTHER MANUFACTURING PROFESSIONAL SERVICES
SOURCE: Equipment Leasing and Finance Association (ELFA)
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PUB: 01/23/2020 08:00 AM/DISC: 01/23/2020 08:01 AM