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COVID-19
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Farm Equipment Rental Market 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 2023-2028

Market Overview:

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.

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 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
    Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Equipment Type, Drive, Power Output, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global farm equipment rental market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global farm equipment rental market?
  • What are the key regional markets?
  • What is the breakup of the market based on the equipment type?
  • What is the breakup of the market based on the drive?
  • What is the breakup of the market based on the power output?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global farm equipment rental market and who are the key players?
  • What is the degree of competition in the industry?
     

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the farm equipment rental market from 2017-2028.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global farm equipment rental market.
  • The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the farm equipment rental industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and  provides an insight into the current positions of key players in the market.

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


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