Product Code: GVR-4-68040-363-4
Farm Equipment Rental Market Trends
The global farm equipment rental market size was estimated at USD 53.75 billion in 2023 and is projected to grow at a CAGR of 6.3% from 2024 to 2030. The market is being propelled by several influential factors that are reshaping the agricultural landscape. One of the primary drivers is the high initial cost associated with purchasing modern farm machinery. For many farmers, particularly those with smaller operations, the significant capital investment required for equipment ownership is prohibitive.
Renting equipment offers a financially viable alternative, allowing farmers to access necessary machinery without incurring substantial debt. This economic advantage is particularly critical in regions where agricultural profit margins are thin and fluctuating market conditions can impact income stability.
The rise of agri-tech startups and digital platforms has revolutionized the way farmer's access rental equipment. Online marketplaces and mobile applications have simplified the rental process, making it easier for farmers to find, compare, and rent machinery. These digital solutions enhance transparency, convenience, and efficiency in the rental market, attracting a broader base of users. The integration of advanced data analytics and IoT technologies in rental equipment also offers added value through real-time monitoring and improved operational management.
Technological advancements are playing a pivotal role in transforming the global market, bringing significant benefits to farmers and rental service providers alike. These innovations are not only enhancing the efficiency and productivity of farming operations but are also making the rental process more seamless and user-friendly. One of the key technological advancements is the integration of sophisticated features in modern farm machinery. Equipment available for rent now often includes advanced GPS systems, automated steering, precision planting, and harvesting technologies. These features allow for more precise and efficient farming practices, reducing waste and optimizing resource use. Farmers renting this advanced equipment can achieve higher yields and better-quality produce, thus maximizing their profitability without the need for large capital investments.
The advanced data analytics and machine learning algorithms are being utilized to enhance the effectiveness of rental services. By analyzing historical data and usage patterns, rental companies can predict demand more accurately, optimize inventory management, and offer personalized rental packages. Machine learning can also assist in predictive maintenance, identifying potential issues before they become critical, thereby reducing downtime and repair costs. These technologies enable rental companies to provide more reliable and tailored services, enhancing customer satisfaction and loyalty.
However, one of the primary restraints is the limited awareness and adoption of rental services, particularly in less developed and rural areas. Many farmers are accustomed to traditional ownership models and may not be aware of the benefits of renting equipment. In addition, there can be a reluctance to shift from established practices due to a lack of understanding of rental agreements and the perceived complexity involved. This resistance to change can slow the adoption of rental services, restricting market growth. Moreover, the logistics of delivering and maintaining rental equipment can be complex and costly, especially in regions with poor infrastructure. Transportation issues, inadequate storage facilities, and a lack of repair and maintenance services can deter both rental companies and potential customers.
Global Farm Equipment Rental Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global farm equipment rental market report based on equipment, power output, drive type, and region.
- Equipment Outlook (Revenue, USD Million, 2017 - 2030)
- Tractors
- Harvesters
- Balers
- Sprayers
- Others
- Power Output Outlook (Revenue, USD Million, 2017 - 2030)
- Less than 40 HP
- 41 HP to 100 HP
- More than 100 HP
- Drive Type Output Outlook (Revenue, USD Million, 2017 - 2030)
- Two-wheel Drive
- Four-wheel Drive
- Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
U.S.
Canada
Mexico
U.K.
Germany
France
China
Japan
India
South Korea
Australia
Brazil
- Middle East and Africa (MEA)
KSA
UAE
South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Landscape Outlook
Chapter 3. Farm Equipment Rental Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.3.3. Industry Opportunities
- 3.4. Farm Equipment Rental Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Farm Equipment Rental Market: Equipment Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Farm Equipment Rental Market: Equipment Movement Analysis, USD Million, 2023 & 2030
- 4.3. Tractors
- 4.3.1. Tractors Printing Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.4. Harvesters
- 4.4.1. Harvesters Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.5. Balers
- 4.5.1. Balers Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.6. Sprayers
- 4.6.1. Sprayers Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.7. Others
- 4.7.1. Others Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 5. Farm Equipment Rental Market: Power Output Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Farm Equipment Rental Market: Power Output Movement Analysis, USD Million, 2023 & 2030
- 5.3. Less Than 40 HP
- 5.3.1. Less Than 40 HP Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.4. 41 HP To 100 HP
- 5.4.1. 41 HP to 100 HP Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.5. More Than 100 HP
- 5.5.1. More Than 100 HP Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 6. Farm Equipment Rental Market: Drive Type Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Farm Equipment Rental Market: Drive Type Movement Analysis, USD Million, 2023 & 2030
- 6.3. Two-wheel Drive
- 6.3.1. Two-wheel Drive Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.4. 41 Four-wheel Drive
- 6.4.1. Four-wheel Drive Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 7. Farm Equipment Rental Market: Regional Estimates & Trend Analysis
- 7.1. Farm Equipment Rental Market Share, by Region, 2023 & 2030, USD Million
- 7.2. North America
- 7.2.1. North America Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.2. North America Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.2.3. North America Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.2.4. North America Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.2.5. U.S.
- 7.2.5.1. U.S. Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.5.2. U.S. Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.2.5.3. U.S. Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.2.5.4. U.S. Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.2.6. Canada
- 7.2.6.1. Canada Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.6.2. Canada Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.2.6.3. Canada Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.2.6.4. Canada Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.2.7. Mexico
- 7.2.7.1. Mexico Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.7.2. Mexico Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.2.7.3. Mexico Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.2.7.4. Mexico Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.2. Europe Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.3.3. Europe Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.3.4. Europe Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.3.5. UK
- 7.3.5.1. UK Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.5.2. UK Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.3.5.3. UK Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.3.5.4. UK Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.3.6. Germany
- 7.3.6.1. Germany Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.6.2. Germany Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.3.6.3. Germany Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.3.6.4. Germany Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.3.7. France
- 7.3.7.1. France Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.7.2. France Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.3.7.3. France Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.3.7.4. France Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.2. Asia Pacific Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.4.3. Asia Pacific Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.4.4. Asia Pacific Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.4.5. China
- 7.4.5.1. China Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.5.2. China Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.4.5.3. China Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.4.5.4. China Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.4.6. Japan
- 7.4.6.1. Japan Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.6.2. Japan Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.4.6.3. Japan Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.4.6.4. Japan Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.4.7. India
- 7.4.7.1. India Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.7.2. India Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.4.7.3. India Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.4.7.4. India Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.4.8. South Korea
- 7.4.8.1. South Korea Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.8.2. South Korea Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.4.8.3. South Korea Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.4.8.4. South Korea Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.4.9. Australia
- 7.4.9.1. Australia Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.9.2. Australia Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.4.9.3. Australia Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.4.9.4. Australia Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Latin America Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5.2. Latin America Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.5.3. Latin America Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.5.4. Latin America Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.5.5. Brazil
- 7.5.5.1. Brazil Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5.5.2. Brazil Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.5.5.3. Brazil Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.5.5.4. Brazil Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.6. Middle East and Africa (MEA)
- 7.6.1. MEA Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.2. MEA Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.6.3. MEA Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.6.4. MEA Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.6.5. KSA
- 7.6.5.1. KSA Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.5.2. KSA Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.6.5.3. KSA Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.6.5.4. KSA Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.6.6. UAE
- 7.6.6.1. UAE Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.6.2. UAE Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.6.6.3. UAE Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.6.6.4. UAE Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
- 7.6.7. South Africa
- 7.6.7.1. South Africa Farm Equipment Rental Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.7.2. South Africa Farm Equipment Rental Market Estimates and Forecasts, By Equipment, 2017 - 2030 (USD Million)
- 7.6.7.3. South Africa Farm Equipment Rental Market Estimates and Forecasts, By Power Output, 2017 - 2030 (USD Million)
- 7.6.7.4. South Africa Farm Equipment Rental Market Estimates and Forecasts, By Drive Type, 2017 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Balers Analysis by Key Market Companies
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Market Share Analysis
- 8.5. Strategy Mapping
- 8.5.1. Expansion
- 8.5.2. Mergers & Acquisition
- 8.5.3. Partnerships & Collaborations
- 8.5.4. New Product Launches
- 8.5.5. Research and Development
- 8.6. Company Profiles
- 8.6.1. Deere & Company
- 8.6.1.1. Company Overview
- 8.6.1.2. Financial Performance
- 8.6.1.3. Product Benchmarking
- 8.6.1.4. Recent Developments
- 8.6.2. CNH Industrial
- 8.6.2.1. Company Overview
- 8.6.2.2. Financial Performance
- 8.6.2.3. Product Benchmarking
- 8.6.2.4. Recent Developments
- 8.6.3. AGCO Corporation
- 8.6.3.1. Company Overview
- 8.6.3.2. Financial Performance
- 8.6.3.3. Product Benchmarking
- 8.6.3.4. Recent Developments
- 8.6.4. Kubota Corporation
- 8.6.4.1. Company Overview
- 8.6.4.2. Financial Performance
- 8.6.4.3. Product Benchmarking
- 8.6.4.4. Recent Developments
- 8.6.5. Mahindra & Mahindra
- 8.6.5.1. Company Overview
- 8.6.5.2. Financial Performance
- 8.6.5.3. Product Benchmarking
- 8.6.5.4. Recent Developments
- 8.6.6. Flaman Group of Companies
- 8.6.6.1. Company Overview
- 8.6.6.2. Financial Performance
- 8.6.6.3. Product Benchmarking
- 8.6.6.4. Recent Developments
- 8.6.7. Pacific AG Rentals LLC
- 8.6.7.1. Company Overview
- 8.6.7.2. Financial Performance
- 8.6.7.3. Product Benchmarking
- 8.6.7.4. Recent Developments
- 8.6.8. Messick's
- 8.6.8.1. Company Overview
- 8.6.8.2. Financial Performance
- 8.6.8.3. Product Benchmarking
- 8.6.8.4. Recent Developments
- 8.6.9. CLAAS KGaA mbH
- 8.6.9.1. Company Overview
- 8.6.9.2. Financial Performance
- 8.6.9.3. Product Benchmarking
- 8.6.9.4. Recent Developments
- 8.6.10. The Pape Group, Inc.
- 8.6.10.1. Company Overview
- 8.6.10.2. Financial Performance
- 8.6.10.3. Product Benchmarking
- 8.6.10.4. Recent Developments