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Farm Equipment Rental - Global Market Outlook (2018-2027)

Farm Equipment Rental - Global Market Outlook (2018-2027)

Published: May 2020 ID: SMRC19195
Published: May 2020 ID: SMRC19195

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Farm Equipment Rental Market is accounted for $39.68 billion in 2018 and is expected to reach $83.38 billion by 2027 growing at a CAGR of 8.6% during the forecast period. Some of the key factors propelling the market growth include rise in the global population, growing government subsidies for farming equipment, shortage of skilled labor, increasing mechanization trends and rising demand for food grain products. However, low level of awareness among farmers is restricting the market growth.

Farm equipment such as farming implements are not used frequently in farm operations, and only have a limited requirement in each farming season and remain idle during the rest of the year. This increases the need for providing farm equipment on rent for only certain times of the year, this factor has encouraged many start-up companies to enter the global farm equipment rental business.

By drive, the two-wheel-drive tractors are primarily used for farming in dry soil conditions, and also for transporting the field produce. These tractors are efficient and easy to use without much energy consumption. They facilitate farmers with smaller turning cycles, to access corners or smaller areas, and easy usability. These are also cheaper than the robust 4WD tractors, which makes them perfect for the use of smallholding or family farmers. As they are used in smaller areas of land, their demand is higher in the developing regions such as Asia, Africa, and the Middle East, where majority cultivation practices are undertaken by small farmers. 

Based on the geography, Asia Pacific region is expected to have considerable market growth during the forecast period. Farmers in the Asia Pacific region are increasingly producing rice and crops such as palm and cotton. Further, a shift from the adoption of labor-intensive farming techniques to advanced technological equipment in the agricultural sector across the Asia Pacific countries has led to increasing demand for tractor and various farming equipment such as harvester and spraying and threshing equipment for the renting purpose. Investments in various agriculture machinery have also led to increased crop production, particularly in developing countries such as India, China, Vietnam, and Thailand.

Some of the key players in farm equipment rental market include Premier Equipment Rentals, Tractors & Farm Equipments Ltd., Cnh Industrial, Em3 Agri-Services Ltd., Agco Corporation, Mahindra & Mahindra, Jcb, Escorts Ltd., Friesen Sales & Rentals, Pape Group Inc., John Deere, Flaman Group of Companies Ltd., Pacific AG Rentals LLC, Pacific Tractor & Implement Ltd, Farmease, Kwipped, Inc, Cedar Streets Sales & Rentals Inc., Kubota Corporation, and German Bliss Equipment Inc.
 
Power Outputs Covered:
• 131-250 HP
• 71-130 HP
• 31-70 HP
• <30 HP
• >250 HP

Equipment Types Covered:
• Balers
• Sprayers
• Tractors
• Harvesters
• Haying Equipment
• Planters
• Cultivators
• Other Equipment Types

Drives Covered:
• Four-wheel Drive
• Two-wheel Drive

Applications Covered:
• Forest Farm
• Farm

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand      
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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