Press release
Farm Equipment Rental Market Analysis, Trends, Growth, Research And Forecast 2033
Farm Equipment Rental Market
The Business Research Company offers in-depth market insights through Farm Equipment Rental Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The farm equipment rental market size has grown strongly in recent years. It will grow from $55.12 billion in 2023 to $58.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to cost savings for farmers, seasonal demand, flexibility and accessibility, variability in land size, avoidance of depreciation costs, diverse crop types.
The farm equipment rental market size is expected to see strong growth in the next few years. It will grow to $76.88 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to environmental sustainability, government support and subsidies, shortage of skilled labor, market entry of rental platforms, rising land fragmentation, global trade dynamics. Major trends in the forecast period include collaborations with agricultural technology, smart farming technologies, flexible rental solutions and models, collaboration platforms for equipment sharing, integration of iot in equipment.
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Market Segmentation:
The farm equipment rental market covered in this report is segmented -
1) By Equipment Type: Tractors, Harvesters, Sprayers, Balers, Other Equipment Types
2) By Power Output:
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