agricultural supplies

Farm Equipment Rental Market Size to Grow by USD 14.89 bn | 53% Growth to Originate from APAC

NEW YORK, April 20, 2022 /PRNewswire/ — The latest market analysis offering titled, Farm Equipment Rental Market by Product and Geography – Forecast and Analysis 2022-2026 has been added to Technavio’s catalog. The farm equipment rental market outlook report identifies the market to witness an accelerating growth momentum at a CAGR of 7.78%. The market potential growth difference between 2021 and 2026 is expected to grow by USD 14.89 billion during the forecast period.

Technavio has announced its latest market research report titled Farm Equipment Rental Market by Product and Geography – Forecast and Analysis 2022-2026

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Farm Equipment Rental Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.78%

Market growth 2022-2026

$ 14.89 billion

Market structure

Fragmented

YoY growth (%)

7.41

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 53%

Key consumer countries

US, Canada, China, India, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ALMACO, Associated Supply Co. Inc., Cedar Street Sales and Rentals, Deere and Co., Escorts Crop Solutions, Flaman, German Bliss Equipment Inc., Holmes Rental Station, Mascoutah Equipment Co. Inc., Messicks Farm Equipment, Pacific Ag Rentals, Sandhills Global Inc., Simplex Tool Rental, The Pape Group Inc., TINGA, Titan Machinery, Total Equipment Rental Inc., and Zimmerman Farm Service Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Market Dynamics

  • The rising need to minimize financial burdens on farmers will drive the market positively during the forecast period. Larger farm equipments such as forage harvesters, mower conditioners, and tillage equipment are not only expensive but take longer to offer desired results. Hence, farm equipment rental companies are increasingly engaging in offering large equipment at affordable rental options.

  • Growing need to meet the rising demand for food products is one of the key farm equipment rental market trends that is expected to impact the industry positively in the forecast period. The millennial population in such countries opt for a vegetarian or vegan diet due to ethical issues over animal cruelty. Thus, owing to the large-scale global demand for fruits and vegetables, there will be an increase in the demand for rental farm equipment.

  • However, growing government support for the purchase of new farm equipment will emerge as one of the key challenges limiting the market growth. Government subsidies offered on agriculture equipment will increase the demand for new models of farm equipment. Hence, such government support allows farmers to purchase new models of farm equipment instead of renting them.

Download Report Sample for more insights on key factors influencing the market growth

Competitive Analysis

  • The farm equipment rental market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Vendors try to compete in the market by offering innovative services to farmers. Similarly, the entry of new players in the global farm equipment rental market is also expected to make the market more fragmented during the forecast period.

  • The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

  • The farm equipment rental market report provides complete insights on key vendors including ALMACO, Associated Supply Co. Inc., Cedar Street Sales and Rentals, Deere and Co., Escorts Crop Solutions, Flaman, German Bliss Equipment Inc., Holmes Rental Station, Mascoutah Equipment Co. Inc., Messicks Farm Equipment, Pacific Ag Rentals, Sandhills Global Inc., Simplex Tool Rental, The Pape Group Inc., TINGA, Titan Machinery, Total Equipment Rental Inc., and Zimmerman Farm Service Inc.

Speak to our Analysts for a tailor-made report comprising extensive competitive benchmarking

Market Segment Highlights

  • By Product, the market is classified into tractors, harvesters, haying equipment, and others. The tractors product segment held the largest market share in 2021. The segment will continue to account for the highest share throughout the forecast period. The increase in demand for lower capacity models of tractors is also encouraging farm equipment manufacturers to launch new models of such tractors and make them available to the farmers on a rental basis.

  • By Geography, the market is classified as APAC, Europe, North America, Middle East and Africa, and South America. APAC will have the largest share of the market. The growth in population in many countries of APAC is leading to an increase in demand for food products, which will facilitate the farm equipment rental market growth in APAC over the forecast period. 53% of the market’s growth will originate from the region during the forecast period with China and India emerging as the key revenue-generating economies.

Get Market Report Sample Right Here and Know More about the Key segment highlights

Related Reports:

Vertical Farming Technologies Market by Application and Geography – Forecast and Analysis 2022-2026

Agricultural Machinery Market by Product and Geography – Forecast and Analysis 2022-2026

Key topics Covered

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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