According to Stratistics MRC, the Global Tractor Rental Market is accounted for $48.45 billion in 2022 and is expected to reach $77.79 billion by 2028 growing at a CAGR of 8.21% during the forecast period.
Tractors are earthmoving equipment utilised for various purposes in the agriculture as well as construction industries. In addition to ploughing and farming, tractors are also employed in the loading and unloading of building materials.
Any farming equipment that is purchased always costs a lot of money, and on top of that, it needs maintenance, but renting eliminates the trouble of upkeep. Owners of tractors can make money from them, giving them a second source of income. Renters, meanwhile, have access to tractors whenever they need them, allowing them to take use of the newest technology at competitive pricing. Major rental service providers are entering this untapped sector because it offers far greater potential for tractor rental than more developed regions.
By geography, Asia Pacific is projected to have the highest CAGR over the forecast period, owing to Rice and other crops like cotton and palm are being grown by farmers more and more throughout the Asia Pacific region. Additionally, the agricultural industry in Asia-Pacific nations has seen a transition away from labour-intensive farming methods and toward high-tech equipment, which has increased demand for tractors and other farming equipment, including harvesters, sprayers, and threshing equipment, for rental purposes. Crop output has increased as a result of investments in diverse agricultural gear, notably in developing nations.
Some of the key players profiled in the Tractor Rental Market include John Deere, EM3 Agri Services, Mahindra & Mahindra, Flaman Group of Companies, Premier Equipment Rental, Pacific Tractor & Implement, Titan Machinery, JFarm Services, Trringo, Farmease and Kwipped Inc.
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Power Sources Covered:
- Electric
- IC Engine
- Other Power Sources
Product Types Covered:
- Row Crop Tractors
- Utility Tractors
- Industrial Tractors
- Earth Moving Tractors
- Other Product Types
Power Types Covered:
- < 40 HP
- 40-100 HP
- < 100 HP
- > 100 HP
- 100-200 HP
- > 200 HP
- Other Power Types
Types Covered:
- High- Powered Engines
- Low- Powered Engines
- Other Types
Driver Types Covered:
- 2-Wheel Drive (2-WD)
- 4-Wheel Drive (4-WD)
Applications Covered:
- Industrial Use
- Household Use
- Other Applications
End Users Covered:
- Warehouse
- Agriculture
- Construction Industry
- Other End Users
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- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client’s interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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