The global farm equipment rental market size is expected to reach USD 82.2 Billion by 2028, at a CAGR of 7.4%, according to the latest report by Reports and Data. Market revenue growth is being steadily driven by rapid shift to mechanization of farming and agriculture techniques and adoption of farming machinery, equipment, and services for agricultural operations, especially in developing economies. Farm equipment is not used regularly in every agricultural operation, is used seasonally, and remain idle for most of the time after seeds are deployed. Farmers are increasingly realizing the importance of rental equipment and the savings associated with these services as opposed to the investments required to purchase self-owned equipment. In addition, saving on maintenance costs and other related costs that come with owning farming equipment and vehicles are some other key factors supporting market growth.

In addition, rapid technological advancements in enhancing engine efficiency of vehicles and equipment used in agriculture and increasing tractor horsepower capacity are factors also influencing market growth.

Over the past years, a significant rise in the number of startups offering different farm equipment rental services has been observed. The rental services of farm equipment offer cost-saving advantages to end-users. Moreover, they also help to transform agriculture through mechanization. These factors are further supporting market growth.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3944

Major players in the farm equipment rental market include CNH Industrial (UK), John Deere (US), Kubota Corporation (Japan), Escorts Ltd. (India), Mahindra Mahindra (India), AGCO Corporation (US), and JCB (UK).

Some key findings from the report

• In September 2018, India’s second largest tractor maker, TAFE, introduced the JFarm Service APP, which is a platform based on tractor aggregation; aiding farmers in achieving optimal utilization of farming tractors.
• Tractors accounted for highest revenue share in the farm equipment rental market in 2020, and is expected to maintain dominance over other machinery segments over the forecast period. This growth is attributable to rising demand for tractors with high horse-power, ranging above 40 HP, such as row crop tractors and utility tractors from various developed countries in North America and Europe
• High range of power output offers farmers 4WD and 2WD drive types, making vehicles more feasible for farmers with large and small holdings to utilize more efficiently. Various developing countries with matured agricultural economies can easily work with this range of power output, along with increasing the level of mechanization at farms.
• Rising demand for mechanization in farming and rising number of medium-scale farmers are augmenting demand for hiring tractor in African countries, especially in south of the Sahara.
• Asia Pacific market revenue is projected to increase significantly owing to rapid adoption of different types of farm equipment, including harvesters and tractors, on rental basis.

For the purpose of this report, Reports and Data has segmented the global farm equipment rental market on the basis of equipment type, power output, drive, and region:

Equipment Type Outlook (Revenue, USD Billion, 2018 - 2028)

• Tractors
• Harvesters
• Balers
• Sprayers
• Other equipment types

Power Output Outlook (Revenue, USD Billion, 2018 - 2028)

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

Drive Outlook (Revenue, USD Billion, 2018 - 2028)

• Two-wheel drive
• Four-wheel drive

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/3944

The report further provides key insights into the market share held by each product and application in the Farm Equipment Rental market. Moreover, it also offers radical information about growth prospects and patterns. It also provides extensive coverage of the product consumption of each application and product. The report also provides a pricing analysis and growth trends for the key segments of the market.

Along with the basic information, the report also offers insights into marketing strategies readily adopted by the key manufacturers for the endorsement of their products. The report offers significant data pertaining to development trends and market position to offer deeper insights into targeted clients, brand promotions, and pricing analysis. The report also sheds light on the supply chains and the changes in the trends of the upstream raw materials and downstream distributors. 

The report explains the market share and sales volume of each company, along with the key details of the operations of these companies. The report further offers extensive coverage of their product portfolio, business expansion plans, gross profit margins, revenue contribution, investment plans, and financial standings. The report also covers the strategic alliances observed within these key companies such as mergers and acquisitions, joint ventures, corporate and government deals, partnerships and agreements, and brand promotions and product launches.

To know more about the report, visit @ https://www.reportsanddata.com/report-detail/farm-equipment-rental-market

Furthermore, the research study gives additional insights into the companies’ regional presence through extensive regional analysis. The regional analysis covers the key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East Africa. The regional analysis segment covers details about the market share held by each region along with the prospective growth opportunities and revenue generation. The report also offers a projection of the growth rate for each region in the entirety of the forecast timeline. It also offers a country-wise analysis to impart a better understanding of the industry.

Thank you for reading our report. For further inquiries and information about the customization of this report, please get in touch with us. Our team will ensure you get the report well-suited for your needs.

Browse Related Reports:

Forging Market Growth - https://www.reportsanddata.com/report-detail/forging-market

Liquid Applied Membranes Market Size - https://www.reportsanddata.com/report-detail/liquid-applied-membranes-market          

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Power and Energy, and Chemicals. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W.

Head of Business Development

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Reports and Data | Web: www.reportsanddata.com