PUBLISHER: IMARC | PRODUCT CODE: 1451713
PUBLISHER: IMARC | PRODUCT CODE: 1451713
Farm Equipment Rental Market Report by Equipment Type (Tractors, Harvesters, Sprayers, Balers, and Others), Drive (Four-Wheel-Drive, Two-Wheel-Drive), Power Output (<30 HP, 31-70 HP, 71-130 HP, 131-250 HP, >250 HP), and Region 2024-2032
The global farm equipment rental market size reached US$ 55.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 85.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.85% during 2024-2032.
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:
IMARC Group 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 2024-2032. 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 Pape 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 2023?
- 2. What is the expected growth rate of the global farm equipment rental market during 2024-2032?
- 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?
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
- 9.1.1 United States
- 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
- 9.2.1 China
- 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
- 9.3.1 Germany
- 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
- 9.4.1 Brazil
- 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 Pape 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
- 14.3.1 AGCO Corporation
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$), 2018-2023
- Figure 3: Global: Farm Equipment Rental Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Farm Equipment Rental Market: Breakup by Equipment Type (in %), 2023
- Figure 5: Global: Farm Equipment Rental Market: Breakup by Drive (in %), 2023
- Figure 6: Global: Farm Equipment Rental Market: Breakup by Power Output (in %), 2023
- Figure 7: Global: Farm Equipment Rental Market: Breakup by Region (in %), 2023
- Figure 8: Global: Farm Equipment Rental (Tractors) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Farm Equipment Rental (Tractors) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Farm Equipment Rental (Harvesters) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Farm Equipment Rental (Harvesters) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Farm Equipment Rental (Sprayers) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Farm Equipment Rental (Sprayers) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Farm Equipment Rental (Balers) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Farm Equipment Rental (Balers) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Farm Equipment Rental (Other Equipment Types) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Farm Equipment Rental (Other Equipment Types) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Farm Equipment Rental (Four-Wheel-Drive) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Farm Equipment Rental (Four-Wheel-Drive) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Farm Equipment Rental (Two-Wheel-Drive) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Farm Equipment Rental (Two-Wheel-Drive) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Farm Equipment Rental (<30 HP) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Farm Equipment Rental (<30 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Farm Equipment Rental (31-70 HP) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Farm Equipment Rental (31-70 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: Farm Equipment Rental (71-130 HP) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: Farm Equipment Rental (71-130 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: Farm Equipment Rental (131-250 HP) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: Farm Equipment Rental (131-250 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Global: Farm Equipment Rental (>250 HP) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: Farm Equipment Rental (>250 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: North America: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: North America: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: United States: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: United States: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: Canada: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: Canada: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: Asia-Pacific: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: Asia-Pacific: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: China: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: China: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Japan: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Japan: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: India: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: India: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: South Korea: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: South Korea: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Australia: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Australia: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: Indonesia: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: Indonesia: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: Others: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: Others: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Europe: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Europe: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Germany: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Germany: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: France: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: France: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: United Kingdom: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: United Kingdom: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: Italy: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: Italy: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: Spain: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: Spain: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Russia: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Russia: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Others: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Others: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Latin America: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Latin America: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Brazil: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Brazil: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Mexico: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 75: Mexico: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 76: Others: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 77: Others: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Middle East and Africa: Farm Equipment Rental Market: Sales Value (in Million US$), 2018 & 2023
- Figure 79: Middle East and Africa: Farm Equipment Rental Market: Breakup by Country (in %), 2023
- Figure 80: Middle East and Africa: Farm Equipment Rental Market Forecast: Sales Value (in Million US$), 2024-2032
- 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, 2023 & 2032
- Table 2: Global: Farm Equipment Rental Market Forecast: Breakup by Equipment Type (in Million US$), 2024-2032
- Table 3: Global: Farm Equipment Rental Market Forecast: Breakup by Drive (in Million US$), 2024-2032
- Table 4: Global: Farm Equipment Rental Market Forecast: Breakup by Power Output (in Million US$), 2024-2032
- Table 5: Global: Farm Equipment Rental Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Farm Equipment Rental Market: Competitive Structure
- Table 7: Global: Farm Equipment Rental Market: Key Players
