New, Pre-owned, and Rental Agriculture Equipment Market Trend Analysis, Gross Margin Analysis, Cost Structure Analysis and Forecast to 2032

The new, pre-owned, and rental agriculture equipment market size was valued at $236.6 billion in 2020, and is estimated to reach $434.1 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032.

New, pre-owned, and rental agriculture equipment refers to the sale of new, used equipment or temporary leasing of agriculture machinery and tools to individuals, contractors, or companies. It allows access to a wide range of equipment without the need for purchase, offering flexibility and cost saving for farming.

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Emerging markets such as Asia-Pacific, Latin America, and Africa, have witnessed a rise in population, economic growth, urbanization, and an increase in technological advancement in machinery that aid in the improvement of workflow. The population in Asia-Pacific and Africa has grown at a rapid pace, thus creating a surge in demand for food products. Most of the countries in these two regions are emerging nations and have experienced strong economic growth.

Agricultural equipment aids in increasing agricultural productivity with less time consumption. In addition, agricultural equipment requires lower effort inputs, thereby reducing the demand for human labor on farms. This not only saves time on operations but also saves costs incurred on the workforce. Furthermore, advancements in machine technologies promote the growth of the new, pre-owned, and rental agriculture equipment market. This is attributed to the fact that the implementation of automatic and semi-automatic machinery increases crop production owing to lower downtimes and highly precise operations.

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The agreement aims at the development of digital agricultural solutions such as connectivity and agronomic solutions for its various agricultural equipment products. Moreover, it plans to offer unique technology platforms, which feature execution, planning, analysis, and decision-making capabilities to improve agricultural processes using various agriculture equipment. Such trends are expected to drive the growth of new, pre-owned, and rental agriculture equipment market

Top Players:
The major players profiled in the new, pre-owned, and rental agriculture equipment market include Agrostroj Pelhimov A.s., Alamo Group Inc., CNH industrial, Deere & Company, J C Bamford Excavators Ltd. (JCB), Kubota Corporation, Mahindra & Mahindra, Pacific Ag Rentals, SDF S.p.A., and Tractors and Farm Equipment Limited.

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Key findings of the study:
• The report provides an extensive analysis of the current and emerging global new, pre-owned, and rental agriculture equipment market trends and dynamics.
• Depending on sales type, the new segment accounted for maximum share of the new, pre-owned, and rental agriculture equipment industry in 2022.
• By equipment category, the heavy segment generated the highest revenue in 2022.
• Region wise, Asia-Pacific accounted for largest share of the global new, pre-owned, and rental agriculture equipment market share in 2022. LAMEA is anticipated to grow at the highest rate in the new, pre-owned, and rental agriculture equipment market during the analysis period, followed by Asia-Pacific.
• The report provides an extensive analysis of the global new, pre-owned, and rental agriculture equipment market analysis and emerging opportunities of the market.

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