Global Farm Equipment Rental Market Report 2023: Growing Need for Renting Various Self-propelled Machines to Mitigate Financial Constraints Fuels the Sector
- Advertisement -
DUBLIN, April 4, 2023 /PRNewswire/ — The “Farm Equipment Rental Market by Equipment Type, Drive, Power Output and Region 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global farm equipment rental market size reached US$ 52.4 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 72.9 Billion by 2028, exhibiting a CAGR of 5.66% during 2022-2028.
Companies Mentioned
- AGCO Corporation
- Deere & Company
- Escorts Limited
- Flaman Group of Companies
- Friesen Sales & Rentals
- Messick Farm Equipment Inc.
- Pacific Ag Rentals
- Pacific Tractor & Implement
- Premier Equipment Ltd.
- The Pape Group Inc.
- Titan Machinery Inc. and Tractors
- Farm Equipment Limited
Farm equipment rental represents a business model and agreement that involves selling, renting, and leasing various agricultural tangible tools and self-propelling equipment to licensed customers at inexpensive rates for a specific duration. It includes tractors, harvesting machines, mower conditioners, tillage systems, rotary tillers, fertilizers, and herbicides as standard components.
To attain these products, a rental contract with specified conditions and regulations is signed by both parties. Farm equipment rental helps minimize overhead charges by relinquishing upfront investments, reduces unwarranted maintenance costs, and provides access to advanced agricultural machines.
Apart from this, farm equipment rental offers high-performance tools on a contractual basis, allows product testing, improves agriculture procedures, and enables instrument usage in short-term projects to satisfy temporary farming needs. Consequently, the service is used in plowing, cultivating, sowing, and fertilizing applications.
The increasing trend of mechanization in the agricultural sector and the growing need for renting various self-propelled machines to mitigate financial constraints and burdens from farmers are primarily driving the market growth.
In line with this, the shifting consumer inclination toward renting farm equipment over purchasing several machines to gain profits by excluding maintenance costs and promoting better crop harvesting is acting as another growth-inducing factor.
Moreover, the escalating requirement for staple crops due to fueling food scarcity has prompted governments to provide subsidiaries and advanced farming equipment at cost-effective prices, which is propelling the market growth. Additionally, the advent of high horsepower (HP) tractors for farming in dry soil conditions and the availability of harvesting, pest control, planting, and spraying fertilizers and insecticides are impelling the market growth.
Apart from this, significant enhancements in the agricultural sector, the large-scale uptake of rental equipment in crop cleaning and threshing activities, and the shortage of skilled labor are positively stimulating the market growth.
Key Questions Answered in This Report
1. What was the size of the global farm equipment rental market in 2022?
2. What is the expected growth rate of the global farm equipment rental market during 2023-2028?
3. What are the key factors driving the global farm equipment rental market?
4. What has been the impact of COVID-19 on the global farm equipment rental market?
5. What is the breakup of the global farm equipment rental market based on the equipment type?
6. What is the breakup of the global farm equipment rental market based on the drive?
7. What is the breakup of the global farm equipment rental market based on the power output?
8. What are the key regions in the global farm equipment rental market?
9. Who are the key players/companies in the global farm equipment rental market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Farm Equipment Rental Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Equipment Type
6.1 Tractors
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Harvesters
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Sprayers
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Balers
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Drive
7.1 Four-Wheel-Drive
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Two-Wheel-Drive
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Power Output
8.1 <_0 />8.1.1 Market Trends
8.1.2 Market Forecast
8.2 31-70 HP
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 71-130 HP
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 131-250 HP
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 >250 HP
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/cdle4x
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo:https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/global-farm-equipment-rental-market-report-2023-growing-need-for-renting-various-self-propelled-machines-to-mitigate-financial-constraints-fuels-the-sector-301789571.html
SOURCE Research and Markets
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Agrigate Global takes no editorial responsibility for the same.
