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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

January 2023 | 143 pages | ID: FB3FDBC125CBEN
IMARC Group

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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 PapŠ¹ 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?
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 PapŠ¹ 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 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

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


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