Farm Equipment Rental Market to Witness a Healthy CAGR of 5.30% with USD 85.47 Billion by 2032 | PMR

Farm Equipment Rental Market Insights, Size Revenue, Outlook, Overview, and Analysis. The global farm equipment rental market was estimated to be worth USD 53.98 billion in 2023 and is predicted to expand to USD 85.47 billion by 2032, with a CAGR of 5.30% during the forecast period 2024-2032.

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Report Scope:

This comprehensive study provides an accurate overview of the worldwide farm equipment rental market. Comprehensive analyses of sales volume, price, revenue, market share, and important companies are included. The market is further divided into segments by equipment type, power output, drive, and region in the study, which offers a comprehensive picture of the state of the market.

Market Definition:

Machinery used in farming or agriculture is referred to as farm equipment. There are many different kinds of farm equipment, including tractors, mower conditioners, harvesting equipment, tillage equipment, and other farm implements. The need for farm equipment rental services is heightened by the high cost of maintaining new agricultural equipment and its hefty initial investment. Employing rental services allows farmers to deduct the cost of farm equipment upkeep, resulting in a little profit. By avoiding having to pay hefty down payments for large pieces of heavy equipment, farmers may harvest their crops on schedule by renting the equipment.

Top Companies:

Because there are so many companies in the industry, it is expected to be both competitive and fragmented.

Here are the top companies in the farm equipment rental market:

• Deere & Company
• AGCO Corporation
• Escorts Limited
• Flaman Group of Companies
• The Papé Group Inc.
• Titan Machinery Inc. and Tractors
• Farm Equipment Limited
• Friesen Sales & Rentals
• Pacific Ag Rentals
• Pacific Tractor & Implement
• Messick Farm Equipment Inc.
• Premier Equipment Ltd.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/2487/2

Segmental Outlook:

By Equipment Type

• Tractors
• Balers
• Sprayers
• Harvesters
• Other types

By power output

• >250 HP
• 131-250 HP
• 71-130 HP
• 31-70 HP

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Drivers and Trends:

Another element fueling the global market's growth is the increased demand for farm equipment rentals. It is ascribed to farmers' increased need for more modern and specialized equipment, which may be prohibitively expensive to purchase outright.

The growing usage of applications for renting farm equipment is expected to push the global market. Using rental software has made it easier for farmers to locate and rent equipment.

Country-Wise Insights:

According to regional research, Asia Pacific led the global market in 2022, owing to rapid expansion in agriculture, more product releases, and a variety of other growth factors. An increase in government assistance in the countries is one of the most important factors impacting market growth in this area. Also, North America accounts for a sizable portion of the global market as a result of increasing technical breakthroughs and the employment of many new technologies.

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