How Big is Farm Equipment Rental Market:
Farm Equipment Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global farm equipment rental rates, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. The global farm equipment rental market size reached US$ 52.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.55% during 2023-2028.
What Are Farm equipment rental?
Farm equipment rental refers to a business model and agreement that involves selling, renting, and leasing numerous agricultural tangible tools and self-propelling equipment to licensed customers at inexpensive rates for a particular duration. It comprises tractors, harvesting machines, rotary tillers, fertilizers, and herbicides as standard components. A rental contract with specified conditions and regulations is signed by both parties to attain these products. It offers high-performance tools on a contractual basis and enables instrument usage in short-term projects to satisfy temporary farming needs. As a result, the service is used in plowing, cultivating, sowing, and fertilizing applications.
Request a Free PDF Sample for more detailed market insights: https://www.imarcgroup.com/farm-equipment-rental-market/requestsample
What are the growth prospects and trends in the Farm Equipment Rental industry?
The emerging trend of mechanization in the agricultural sector and the escalating demand for renting various self-propelled machines to mitigate financial constraints and burdens from farmers are among the key elements stimulating the farm equipment rental market. Moreover, the shifting consumer preferences toward hiring equipment over purchasing several machines to gain profits by excluding maintenance costs and promoting better crop harvesting is also propelling the market growth. Besides this, the elevating need for staple crops, on account of increasing food scarcity, has encouraged government bodies to provide subsidiaries and advanced tools at cost-effective prices, which is further fueling the global market. Furthermore, the development of high horsepower (HP) tractors for farming in dry soil conditions and the easy availability of harvesting, pest control, planting, and spraying fertilizers and insecticides are acting as significant growth-inducing factors. Apart from this, continuous improvements in the agricultural sector, the widespread adoption of rental equipment in crop cleaning and threshing activities, and the shortage of skilled labor are anticipated to fuel the farm equipment rental market over the forecasted period.
Farm Equipment Rental Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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.
- Tractors and Farm Equipment Limited
What is included in market segmentation?
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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/