The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

A skilled labour scarcity is likely to stimulate innovation in farm equipment rental manufacturing, propelling the market during the forecast period.

The global farm equipment rental market is expected to grow from $51.82 billion in 2022 to $55.12 billion in 2023 at a compound annual growth rate (CAGR) of 6.36%. The global farm equipment rental market size is expected to reach $71.20 billion in 2027 at a CAGR of 6.61%.

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Global Farm Equipment Rental Market Segments Include:

• By Equipment Type: Tractors, Harvesters, Sprayers, Balers, Other Equipment Types
• By Power Output: <30 HP, 31-70 HP, 71-130 HP, 131-250 HP, <250 HP
• By Drive: Two-Wheel Drive, Four-Wheel Drive
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global farm equipment rental market in 2021.

Major Market Players in the farm equipment rental market include Deere And Company, AGCO Corporation, Escorts Kubota Limited, Tractors and Farm Equipment Limited, CNH Industrial, Kubota Corporation, Mahindra And Mahindra Limited.

Technological developments will be a prominent trend in the farm equipment rental market in the future. Major players in the farm equipment rental market are creating innovative technology to increase their market position. For example, Carnot Technologies, an India-based agro-tech company backed by Mahindra and Qualcomm, launched Krish-e Smart Kit in March 2023, an IoT device for farm equipment that provides owners with data on their tractors and other agricultural machinery via a smartphone and GPS-enabled time tracking. It helps machinery owners and rental organisations to reduce tractor downtime, prevent illegal usage of their tractors, increase revenue, and better manage maintenance expenses. The Smart Kit’s comprehensive trip replay capability enables for the monitoring of tram and commercial transportation activities. In addition to tracking and monitoring, the programme provides on-demand access to a fleet of high-tech agricultural vehicles. The Krish-e Smart Kit, a market-first aftermarket IoT solution, provides farmers and businesses with a simple, cost-effective, and long-term way to connect with and monitor their farm equipment from anywhere.

The Farm Equipment Rental Global Market Report 2023  provides a farm equipment rental market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The farm equipment rental market forecast analyzes farm equipment rental market size, farm equipment rental market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Farm equipment rental is the service of renting or leasing agricultural equipment for a temporary period of time. Prior to the contract, both parties develop and execute a rental agreement subject to specific terms and restrictions. Farm equipment rentals are used to cultivate, harvest, transport crops, and perform other agricultural tasks.

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