The Farm Equipment Rental Global Market Report 2023, provides comprehensive information on the farm equipment rental market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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In accordance with The Business Research Company's Farm Equipment Rental Global Market Report 2023, there is a noteworthy projection in the global farm equipment rental market, indicating an anticipated expansion from $51.82 billion in 2022 to $55.12 billion in 2023, reflecting a commendable compound annual growth rate (CAGR) of 6.36%. It is imperative to note that the dynamics of global economic recuperation from the COVID-19 pandemic have encountered an abrupt disruption due to the Russia-Ukraine conflict, imparting significant repercussions, particularly in the short term. The hostilities have triggered a series of economic sanctions on multiple nations, a palpable upswing in commodity prices, and intricate supply chain disturbances, consequently instigating inflationary pressures on diverse goods and services and exerting profound impacts on myriad markets across the globe. Projections are poised to propel the global farm equipment rental market to a formidable $71.20 billion by 2027, with a robust CAGR of 6.61%.
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A conspicuous trend shaping the trajectory of the farm equipment rental landscape is the ascendancy of technological advancements. Prominent entities within this domain are fervently engaged in pioneering technologies to fortify their market standing. An illustrative instance in this regard is Carnot Technologies, an India-based agro-tech enterprise supported by Mahindra & Qualcomm, which recently unveiled the Krish-e Smart Kit in March 2023. This groundbreaking Internet of Things (IoT) device caters to farm equipment owners, furnishing them with comprehensive data pertaining to their tractors and other agricultural machinery, seamlessly accessible via smartphones and GPS-enabled time tracking. The Krish-e Smart Kit has been strategically designed to curtail tractor downtime, prevent unauthorized usage, amplify revenue streams, and streamline maintenance expenditures. Leveraging a sophisticated trip replay feature, the Smart Kit facilitates meticulous monitoring of trolley and commercial transportation activities. Positioned as a pioneering aftermarket IoT solution, the Krish-e Smart Kit provides farmers and enterprises an expedient, cost-effective, and environmentally sustainable means to remotely connect with and monitor their agricultural machinery, irrespective of geographical constraints.
The farm equipment rental market is segmented:
1) By Equipment Type: Tractors, Harvesters, Sprayers, Balers, Other Equipment Types
2) By Power Output: <30 HP, 31-70 HP, 71-130 HP, 131-250 HP, <250 HP
3) By Drive: Two-Wheel Drive, Four-Wheel Drive
Asia-Pacific was the largest region in the farm equipment rental market in 2022.
The table of contents in TBRC’s farm equipment rental market report includes:
1. Executive Summary
2. Farm Equipment Rental Market Characteristics
3. Farm Equipment Rental Market Trends And Strategies
4. Farm Equipment Rental Market - Macro Economic Scenario
5. Farm Equipment Rental Market Size And Growth
.....
26. Africa Farm Equipment Rental Market
27. Farm Equipment Rental Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Farm Equipment Rental Market
29. Farm Equipment Rental Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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