By 2033, the farm equipment rental market is anticipated to grow at a CAGR of 6.2% and be worth US$ 106.2 billion.Rapid technological developments in farm equipment have improved productivity, efficiency, and yield in the agricultural sector. Renting farm equipment encourages the use of cutting-edge machinery by giving farmers access to the most recent technology without making a sizable financial commitment.
Renting agricultural equipment gives farmers the freedom to adapt their equipment requirements to changing workloads and tasks throughout the year, maximising equipment utilisation. The agriculture industry is expanding thanks to government assistance and a growing population, creating prospects for rental service providers.
Download a Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8641
The contribution of agriculture to the growth of the world economy is 4% of the GDP. To fulfil the need for food, it is essential to expand the amount of arable land, and rental services are essential in supplying farmers with effective machinery for agricultural expansion.
Government programmes and initiatives, such as subsidised rental services that make equipment leasing more accessible and inexpensive, support farm mechanisation and productivity.
Key Takeaways from the Market Study
- The US market for farm equipment rental is lucrative growing at a CAGR of 6.5% during the forecast period
- Agriculture tractors type is likely to create an absolute $ opportunity of US$ 25.5 billion during the forecast period
- Cultivation application is a prominent contributor to the growth of the farm equipment rental market growth is estimated to account for a market share of 33.2% in 2023
- German farm equipment rental market registered a growth rate of 5.4% from 2018 to 2022 and is expected to grow at a CAGR of 6.7% during the forecast period
- China is estimated to project a valuation of US$ 12.7 billion in 2023 and is expected to reach a valuation of US$ 25.4 billion by 2033
“Government Support and Economic Growth to Fuel the Farm Equipment Rental Market Expansion” says a Fact.MR analyst.
Competitive Landscape
Rental firms are collaborating and developing strategic alliances with agribusinesses, farming cooperatives, and input suppliers. Mutual benefits from these alliances include enhanced access to new tenants, shared client bases, and cooperative marketing initiatives.
Additionally, rental service providers frequently give value-added services to improve the customer experience in order to set themselves apart from rivals. These services, which include equipment setup, training courses, technical assistance, maintenance services, and online booking and management tools, give market participants room to flourish.
Key Companies Profiled
- AgDirect
- BlueLine Rental
- Farm-Rite Equipment
- Herc Rentals
- NESCO Rentals
- Sunbelt Rentals
- United Rentals
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8641?PS
Market Growth Stratagems
Prominent players operating in the farm equipment market are AgDirect, BlueLine Rental, Farm-Rite Equipment, Herc Rentals, NESCO Rentals, Sunbelt Rentals, and United Rentals.
Rental service providers operating in the farm equipment rental market are adopting various growth strategies to expand their businesses and meet the evolving needs of farmers. Rental companies aim to offer a wide range of farm equipment to cater to different agricultural tasks and varying customer requirements. By diversifying their equipment inventory, rental service providers are likely to attract a larger customer base and capture a larger market share.
Segmentation of Farm Equipment Rental Industry Research
- By Type:
- Agriculture Tractors
- Compact Utility Tractors
- Upto 21.5 HP
- 21.5 HP to 50 HP
- 50 HP to 80 HP
- Row Crop Tractors
- Upto 110 HP
- 110 HP to 250 HP
- 250 HP to 350 HP
- Above 350 HP
- Compact Utility Tractors
- Agriculture Harvesters
- Combine Harvester
- Forage Harvesters
- Others
- Agriculture Planting Equipment
- Row Crop Planters
- Air Seeder
- Grain Drills
- Others
- Irrigation & Crop Processing Equipment
- Sprinkler
- Drip
- Others
- Agriculture Spraying Equipment
- Hay & Forage Equipment
- Mower-Conditioners
- Balers
- Others
- Cultivation and Plowing Equipment
- Tiller
- Rotary Tiller
- Bedtiller
- Rototiller
- Power Tiller
- Harrows
- Plows
- Rotavator
- Others
- Tiller
- Planting Equipment
- Planters
- Seed Drill
- Spreaders
- Others
- Cutter and Shredders Equipment
- Rotary Cutters
- Grooming Mowers
- Other Agriculture Equipment
- Agriculture Tractors
- By Application:
- Land Development & Seed Bed Preparation Equipment
- Sowing & Planting
- Cultivation
- Plant Protection
- Harvesting & Threshing
- Post-Harvest & Agro-Processing
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the farm equipment rental market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of the type (agriculture tractors, agriculture harvesters, agriculture planting equipment, irrigation & crop processing equipment, agriculture spraying equipment, cultivation, and plowing equipment, planting equipment, cutter, and shredders equipment, and other agriculture equipment), application (land development & seedbed preparation equipment, sowing & planting, cultivation, plant protection, harvesting & threshing, and post-harvest & agro-processing), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com
