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Farm Equipment Rental Market by Equipment Type, Drive, Power Output and Region 2023-2028

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    Report

  • 143 Pages
  • January 2023
  • Region: Global
  • IMARC Group
  • ID: 5732718

Quick Summary:

As experts in the agricultural sector well know, farm equipment rental has proven to be a relevant solution to tackle financial constraints and other challenges amongst farmers. This business model offers a range of benefits spanning minimized overheads and maintenance costs, to access to advanced machinery and improved farming techniques. The growing trend towards mechanization in global agriculture and the financial efficiency of renting versus purchasing equipment are significantly driving the market's expansion.

The market has further evolved to meet specific needs with a diverse array of machinery and tools, including tractors, harvesters, sprayers and balers among others, available for rent. Factors such as the increasing demand for staple crops due to limited food sources and government initiatives providing subsidies and affordable farming equipment have notably fueled the market. Simultaneously, market trends such as the rising use of high horsepower tractors for dry soil conditions and the wide-scale integration of rental equipment in crop cleaning and threshing activities, are positively stimulating growth. All these factors underline why this comprehensive report on the global farm equipment rental market is essential reading for decision-makers and stakeholders in this sector.

The global farm equipment rental market size reached US$ 52.4 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 72.9 Billion by 2028, exhibiting a CAGR of 5.66% during 2022-2028.

Farm equipment rental represents a business model and agreement that involves selling, renting, and leasing various agricultural tangible tools and self-propelling equipment to licensed customers at inexpensive rates for a specific duration. It includes tractors, harvesting machines, mower conditioners, tillage systems, rotary tillers, fertilizers, and herbicides as standard components. To attain these products, a rental contract with specified conditions and regulations is signed by both parties. Farm equipment rental helps minimize overhead charges by relinquishing upfront investments, reduces unwarranted maintenance costs, and provides access to advanced agricultural machines. Apart from this, farm equipment rental offers high-performance tools on a contractual basis, allows product testing, improves agriculture procedures, and enables instrument usage in short-term projects to satisfy temporary farming needs. Consequently, the service is used in plowing, cultivating, sowing, and fertilizing applications.

Farm Equipment Rental Market Trends:

The increasing trend of mechanization in the agricultural sector and the growing need for renting various self-propelled machines to mitigate financial constraints and burdens from farmers are primarily driving the market growth. In line with this, the shifting consumer inclination toward renting farm equipment over purchasing several machines to gain profits by excluding maintenance costs and promoting better crop harvesting is acting as another growth-inducing factor. Moreover, the escalating requirement for staple crops due to fueling food scarcity has prompted governments to provide subsidiaries and advanced farming equipment at cost-effective prices, which is propelling the market growth. Additionally, the advent of high horsepower (HP) tractors for farming in dry soil conditions and the availability of harvesting, pest control, planting, and spraying fertilizers and insecticides are impelling the market growth. Apart from this, significant enhancements in the agricultural sector, the large-scale uptake of rental equipment in crop cleaning and threshing activities, and the shortage of skilled labor are positively stimulating the market growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global farm equipment rental market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on equipment type, drive and power output.

Breakup by Equipment Type:

  • Tractors
  • Harvesters
  • Sprayers
  • Balers
  • Others

Breakup by Drive:

  • Four-Wheel-Drive
  • Two-Wheel-Drive

Breakup by Power Output:

< 30 HP
31-70 HP
71-130 HP
131-250 HP
>250 HP

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AGCO Corporation, Deere & Company, Escorts Limited, Flaman Group of Companies, Friesen Sales & Rentals, Messick Farm Equipment Inc., Pacific Ag Rentals, Pacific Tractor & Implement, Premier Equipment Ltd., The Papé Group Inc., Titan Machinery Inc. and Tractors and Farm Equipment Limited. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global farm equipment rental market in 2022?
2. What is the expected growth rate of the global farm equipment rental market during 2023-2028?
3. What are the key factors driving the global farm equipment rental market?
4. What has been the impact of COVID-19 on the global farm equipment rental market?
5. What is the breakup of the global farm equipment rental market based on the equipment type?
6. What is the breakup of the global farm equipment rental market based on the drive?
7. What is the breakup of the global farm equipment rental market based on the power output?
8. What are the key regions in the global farm equipment rental market?
9. Who are the key players/companies in the global farm equipment rental market?
Frequently Asked Questions about the Farm Equipment Rental Market

What is the estimated value of the Farm Equipment Rental Market?

The Farm Equipment Rental Market was estimated to be valued at $52.4 Billion in 2022.

What is the growth rate of the Farm Equipment Rental Market?

The growth rate of the Farm Equipment Rental Market is 5.6%, with an estimated value of $72.9 Billion by 2028.

What is the forecasted size of the Farm Equipment Rental Market?

The Farm Equipment Rental Market is estimated to be worth $72.9 Billion by 2028.

Who are the key companies in the Farm Equipment Rental Market?

Key companies in the Farm Equipment Rental Market include AGCO Corporation, Deere & Company, Escorts Limited, Flaman Group of Companies, Friesen Sales & Rentals, Messick Farm Equipment Inc., Pacific Ag Rentals, Pacific Tractor & Implement, Premier Equipment Ltd. and The Papé Group Inc..

Table of Contents

1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Farm Equipment Rental Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Equipment Type
6.1 Tractors
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Harvesters
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Sprayers
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Balers
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast

7 Market Breakup by Drive
7.1 Four-Wheel-Drive
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Two-Wheel-Drive
7.2.1 Market Trends
7.2.2 Market Forecast

8 Market Breakup by Power Output
8.1 < 30 HP
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 31-70 HP
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 71-130 HP
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 131-250 HP
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 >250 HP
8.5.1 Market Trends
8.5.2 Market Forecast

9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast

10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 AGCO Corporation
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Deere & Company
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Escorts Limited
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 Flaman Group of Companies
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Friesen Sales & Rentals
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Messick Farm Equipment Inc.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Pacific Ag Rentals
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Pacific Tractor & Implement
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Premier Equipment Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 The Papé Group Inc.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Titan Machinery Inc.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Tractors and Farm Equipment Limited
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report

List of Figures
Figure 1: Global: Farm Equipment Rental Market: Major Drivers and Challenges
Figure 2: Global: Farm Equipment Rental Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Farm Equipment Rental Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Farm Equipment Rental Market: Breakup by Equipment Type (in %), 2022
Figure 5: Global: Farm Equipment Rental Market: Breakup by Drive (in %), 2022
Figure 6: Global: Farm Equipment Rental Market: Breakup by Power Output (in %), 2022
Figure 7: Global: Farm Equipment Rental Market: Breakup by Region (in %), 2022
Figure 8: Global: Farm Equipment Rental (Tractors) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Farm Equipment Rental (Tractors) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Farm Equipment Rental (Harvesters) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Farm Equipment Rental (Harvesters) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Farm Equipment Rental (Sprayers) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Farm Equipment Rental (Sprayers) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Farm Equipment Rental (Balers) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Farm Equipment Rental (Balers) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Farm Equipment Rental (Other Equipment Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Farm Equipment Rental (Other Equipment Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Farm Equipment Rental (Four-Wheel-Drive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Farm Equipment Rental (Four-Wheel-Drive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Farm Equipment Rental (Two-Wheel-Drive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Farm Equipment Rental (Two-Wheel-Drive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Farm Equipment Rental (< 30 HP) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Farm Equipment Rental (< 30 HP) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Farm Equipment Rental (31-70 HP) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Farm Equipment Rental (31-70 HP) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Farm Equipment Rental (71-130 HP) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Farm Equipment Rental (71-130 HP) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Farm Equipment Rental (131-250 HP) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Farm Equipment Rental (131-250 HP) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Farm Equipment Rental (>250 HP) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Farm Equipment Rental (>250 HP) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: North America: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: North America: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: United States: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: United States: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Canada: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Canada: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Asia-Pacific: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Asia-Pacific: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: China: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: China: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Japan: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Japan: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: India: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: India: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: South Korea: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: South Korea: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Australia: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Australia: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Indonesia: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Indonesia: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Others: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Others: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Europe: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Europe: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Germany: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Germany: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: France: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: France: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: United Kingdom: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: United Kingdom: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Italy: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Italy: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Spain: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Spain: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Russia: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Russia: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Others: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Others: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Latin America: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Latin America: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Brazil: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Brazil: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Mexico: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Mexico: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Others: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Others: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Middle East and Africa: Farm Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Middle East and Africa: Farm Equipment Rental Market: Breakup by Country (in %), 2022
Figure 80: Middle East and Africa: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Global: Farm Equipment Rental Industry: SWOT Analysis
Figure 82: Global: Farm Equipment Rental Industry: Value Chain Analysis
Figure 83: Global: Farm Equipment Rental Industry: Porter's Five Forces Analysis

List of Tables
Table 1: Global: Farm Equipment Rental Market: Key Industry Highlights, 2022 & 2028
Table 2: Global: Farm Equipment Rental Market Forecast: Breakup by Equipment Type (in Million US$), 2023-2028
Table 3: Global: Farm Equipment Rental Market Forecast: Breakup by Drive (in Million US$), 2023-2028
Table 4: Global: Farm Equipment Rental Market Forecast: Breakup by Power Output (in Million US$), 2023-2028
Table 5: Global: Farm Equipment Rental Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Farm Equipment Rental Market: Competitive Structure
Table 7: Global: Farm Equipment Rental Market: Key Players

Companies Mentioned

  • AGCO Corporation
  • Deere & Company
  • Escorts Limited
  • Flaman Group of Companies
  • Friesen Sales & Rentals
  • Messick Farm Equipment Inc.
  • Pacific Ag Rentals
  • Pacific Tractor & Implement
  • Premier Equipment Ltd.
  • The Papé Group Inc.
  • Titan Machinery Inc. and Tractors
  • Farm Equipment Limited.

Methodology

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