North America to Dominate Farm Equipment Rental Market until 2025
Increasing mechanization across agricultural industry is expected to drive the growth of global farm equipment rental market.
According
to TechSci Research report, “Global Farm Equipment
Rental Market By Type (Tractors, Harvesters, Balers, Sprayers, Utility
Vehicles, Implement s, Others), By Power Output (<20 HP, 21-50 HP, 51-150
HP, 151-250 HP, 250-380 HP, 381-600 HP, Above 600 HP), By Drive Type (Two-Wheel
Drive v/s Four-Wheel Drive), By Function (Ploughing & Cultivating, Sowing
& Planting, Plant Protection & Fertilizing, Harvesting & Threshing,
Others), By Purpose (Light Duty, High Clearance, Row Corp, Light Tillage, Heavy
Tillage, Others), By Region, Forecast & Opportunities, 2025”, the global farm equipment rental market is expected to
grow at a formidable rate during the forecast period on account of the growing
global population. This has led to an increase in the demand for food to fulfil
the needs of the population, which in turn has led to increase in food
production activities and improvements across the agricultural industry,
thereby positively influencing the market growth. Additionally, climate change
and changing precipitation patterns are further expected to fuel the market
growth over the next few years. Also, decreasing per capita arable land is
expected to increase the demand for advanced machinery and equipment, which can
aid in increasing the production in small land pieces. This in turn is expected
to fuel the market growth during the forecast period. Furthermore, high cost of
agricultural equipment and affordability constraints faced by the farmers are
expected to spur the market growth until 2025. Besides, dearth of skilled workforce
on agricultural fields might further fuel the market growth. However, lack of
awareness pertaining to the availability of such rental services, especially in
the merging countries might hamper the market growth through 2025. Moreover,
lack of safety regulations pertaining to the use of rental farm equipment,
especially in the developing countries is further expected to obstruct the
market growth over the next few years.
Browse
XX market data Tables and XX Figures spread through XXX
Pages and an in-depth TOC on " Global Farm Equipment Rental Market"
The global farm equipment rental market is segmented based on type,
power output, drive type, function, purpose, company and region. Based on type,
the market can be categorized into tractors, harvesters, balers, sprayers,
utility vehicles, implements and others. The harvesters segment is expected to
hold a significant market share on account of their versatility and ability to
perform multiple functions in a single process. Additionally, increasing labor
cost and unavailability of skilled labor further drives the segmental growth. Based on power output, the market can be fragmented
into <20 HP, 21-50 HP, 51-150 HP, 151-250 HP, 250-380 HP, 381-600 HP and
above 600 HP. The 51-150HP segment is expected to register significant growth
in the market on account of the growing demand for tractors due to increasing
mechanization across the agricultural industry. Additionally, growing crop
production and consumption has led to greater power requirements on the
agricultural fields. Based on drive type, the market can be split into
two-wheel drive and four-wheel drive. The two-wheel drive segment is expected
to register significant growth owing to their extensive use for farming in dry
soil conditions and also transporting the agricultural produce. Additionally,
they are affordable, easy to use and consume less energy.
John Deere (Deere & Company), CNH Industrial N.V., Kubota
Corporation, Mahindra & Mahindra Limited, J C Bamford Excavators, Escorts
Group, AGCO Corporation, Tractors and Farm Equipment’s Ltd., Premier Equipment
Rentals, Flaman Group of Companies, Pacific AG Rental LLC, Kwipped Inc., EM3
Agri Services, German Bliss Equipment Inc., Friesen Sales & Rentals and
others are some of the leading players operating in global farm equipment
rental market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share.
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“North
America is expected to dominate the
global farm equipment rental market during the forecast period, owing to the
increasing demand for food production across the region. Additionally,
mechanization across agricultural industry is further expected to fuel the
market growth. Also, in countries such as Mexico, the difficult climatic
conditions and high price of farm equipment have increased the demand for
rental farm equipment. Furthermore, affordability constraints and shortage of
farm equipment in Canada is expected to foster the market growth through 2025.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Farm Equipment
Rental Market By Type (Tractors, Harvesters, Balers, Sprayers, Utility
Vehicles, Implement s, Others), By Power Output (<20 HP, 21-50 HP, 51-150
HP, 151-250 HP, 250-380 HP, 381-600 HP, Above 600 HP), By Drive Type (Two-Wheel
Drive v/s Four-Wheel Drive), By Function (Ploughing & Cultivating, Sowing
& Planting, Plant Protection & Fertilizing, Harvesting & Threshing,
Others), By Purpose (Light Duty, High Clearance, Row Corp, Light Tillage, Heavy
Tillage, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the
future growth potential of global farm equipment rental market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global farm equipment rental market.
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