Global Farm Equipment Rental Market Overview
Introduction:
Farming equipment consists of mechanical devices such as tractors and various attachments that are designed to be utilized in various farming tasks to save time and labor. These devices are essential to increasing productivity and improving soil maintenance.
The agricultural equipment rental market is booming, as the demand to ease the financial burden of farmers is one of the major factors driving the growth of the agricultural equipment rental market. As such, farm equipment rental helps farmers harvest crops on time by avoiding huge sums of money as a down payment on heavy farm equipment. Farm equipment rental services offer cost-saving benefits to end users. Moreover, they also help transform agriculture through mechanization, a factor, which is expected spur the market.
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Attributes |
Details |
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Farm Equipment Rental Market Value (2022) |
US$ 46.3Bn |
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Farm Equipment Rental Market Projected Value(2032) |
US$ 85.3Bn |
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Farm Equipment Rental Market CAGR (2022-2032) |
8.2% |
Global Farm Equipment Rental Market Dynamics
Increasing number mobile apps offering farm equipment on rent
Long-term factors, such as an increase in the average selling price of farm machinery such as tractors and combine harvesters, agriculture as a service (FaaS) evolution is expected to drive the farm equipment rental market. Increased mobile apps offering farm equipment for rent, and the entry of significant farm equipment manufacturers, is also expected to drive the growth of the farm equipment rental market. However, the growing trend of mechanization and the growing demand for food grains, fueled by technological advancements across the globe, are some of the major factors that drive the demand for the farm equipment rental market.
Rising adoption of farm equipment in several applications
Increasing adoption of agricultural equipment in multiple applications such as ploughing, cultivation, sowing, plant protection, and fertilization, as well as the growing need for various applications such as agriculture and logging, are some of the key factors influencing market growth in the future.
Fluctuating fuel prices
The COVID-19 pandemic has halted the production of various products in agricultural equipment, mainly due to prolonged lockdowns in major countries globally, which have hindered the growth of the agricultural equipment rental market. However, fluctuating fuel prices and labour shortages among leasing companies, such as drivers, may hamper the growth of farm equipment services.
Global Farm Equipment Rental Market Segmentation
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The Farm Equipment Rental Market is segmented based on type, product, power output, drive, automation, application, and region.
Farm Equipment Rental Market, By Type
On the basis of type, the Farm Equipment Rental Market is segmented into Tractors, Harvesters, Soil cultivators, Pest control equipment, Others.
Farm Equipment Rental Market, By Product
On the basis of product, the target market is classified into Tractors, Shredders and Cutters, Combine harvester, Sprayers, Tillers, Others.
Farm Equipment Rental Market, By Power Output
On the basis of power output, the Farm Equipment Rental Market is segmented into <30HP, 31-70hp, 71-130HP, 131-250HP, >250HP.
On the basis of power output, 71-130 has the largest share in the farm equipment rental market.
Farm Equipment Rental Market, By Drive
On the basis of drive, the target market is classified into Four-Wheel Drive, Two-Wheel Drive. In terms of drive, the four-wheel-drive segment has dominated the farm equipment rental market. As such, four-wheel-drive tractors have a much higher traction capacity and greater wheel traction and power. The tractor body provides maximum wear resistance and also reduces total working time.
Farm Equipment Rental Market, By Automation
On the basis of automation, the Farm Equipment Rental Market is segmented into Automatic, Manual.
Farm Equipment Rental Market, By Application
On the basis of application, the target market is classified into Farm and Forest Farm. On the basis of application, farm has dominate segment of farm equipment rental market.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Farm Equipment Rental Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Due to increased demand for tractors and farm equipment such as harvesters, sprayers, and threshing equipment, Asia-Pacific dominates the farm equipment rental market. Government initiatives to reduce the financial burden on farmers in the Asia-Pacific region, such as India and China, act as a major growth driver for the farm equipment rental market.
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Attribute |
Details |
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Base year for estimation |
2022 |
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Forecast period |
2022 – 2032 |
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Market representation |
Revenue in USD Billion & CAGR from 2022 to 2032 |
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Market Segmentation |
By Type - Tractors, Harvesters, Soil cultivators, Pest control equipment, Others By Product - Tractors, Shredders and Cutters, Combine harvester, Sprayers, Tillers, Others By Power Output - <30HP, 31-70HP, 71-130HP, 131-250HP, >250HP By Drive - Four-Wheel Drive, Two-Wheel Drive By Automation - Automatic, Manual By Application - Farm and Forest Farm |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Farm Equipment Rental Market report based on type, product, power output, drive, automation, application, and region:
Farm Equipment Rental Market, By Type:
- Tractors
- Harvesters
- Soil cultivators
- Pest control equipment
- Other
Farm Equipment Rental Market, By Product:
- Tractors
- Shredders and Cutters
- Combine harvester
- Sprayers
- Tillers
- Others
Farm Equipment Rental Market, By Power Output:
- <30HP
- 31-70HP
- 71-130HP
- 131-250HP
- >250HP
Farm Equipment Rental Market, By Drive:
- Four-Wheel Drive
- Two-Wheel Drive
Farm Equipment Rental Market, By Automation:
- Automatic
- Manual
Farm Equipment Rental Market, By Application:
- Farm
- Forest Farm
Farm Equipment Rental Market, By Region:
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-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Farm Equipment Rental Market Key Players
The key players operating the Farm Equipment Rental Market includes, Deere & Company, JFarm Services (TAFE), Messick’s, Pacific Tractor, Premier Equipment Rentals, Pape Group, German Bliss Equipment Inc., Zetor Tractors, Kubota Corporation, and AGCO Corporation.
Global Farm Equipment Rental Market Company Profile
- Deere & Company*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- JFarm Services (TAFE)
- Messick’s
- Pacific Tractor
- Premier Equipment Rentals
- Pape Group
- German Bliss Equipment Inc.
- Zetor Tractors
- Kubota Corporation
- AGCO Corporation.
“*” marked represents similar segmentation in other categories in the respective section
Recent Developments:
- In August 2021, agritech innovation startup Farmkart entered the unstructured agri-equipment rental business by launching rent4farm, a technology-enabled platform.
Global Farm Equipment Rental Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Power Outputs
- Key Thickness Insights
- Secondary Data
- Major Secondary Power Outputs
- Secondary Power Outputs
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Product
- Market Snippet, By Power Output
- Market Snippet, By Drive
- Market Snippet, By Automation
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Farm Equipment Rental Market, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Tractors
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Harvesters
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Soil Cultivators
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Pest Control Equipment
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Other
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Farm Equipment Rental Market, By Product
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Tractors
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Shredders and Cutters
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Combine Harvester
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Sprayers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Tillers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Farm Equipment Rental Market, By Power Output
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- <30HP
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- 31-70HP
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- 71-130HP
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- 131-250HP
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- >250HP
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Farm Equipment Rental Market, By Drive, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Four-Wheel Drive
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Two-Wheel Drive
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Farm Equipment Rental Market, By Automation
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Automatic
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Manual
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Farm Equipment Rental Market, By Application, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Farm
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Forest Farm
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Farm Equipment Rental Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Power Output, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Drive, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Automation, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Power Output, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Drive, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Automation, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Power Output, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Drive, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Automation, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Power Output, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Drive, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Automation, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Power Output, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Drive, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Automation, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Deere & Company
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- JFarm Services (TAFE)
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Messick’s
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Pacific Tractor
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Premier Equipment Rentals
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Pape Group
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- German Bliss Equipment Inc.
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Zetor Tractors
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Kubota Corporation
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- AGCO Corporation.
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Farm Equipment Rental Market is 46.3 billion in 2022.
Farm Equipment Rental Market is projected to increase at a CAGR of 8.2% during the forecast period.
Farm Equipment Rental Market is segmented into basis of on type, product, power output, drive, automation, application, and region.
The agricultural equipment rental market is booming as the need to ease the financial burden of farmers is one of the main factors driving the growth of the agricultural equipment rental market.
Asia-Pacific dominates the farm equipment rental market due to increasing demand for rental of tractors and farm equipment such as harvesters, spraying and threshing equipment.