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Global Farm Equipment Rental Market By Equipment Type (Tractors, Balers, Sprayers, Others), By Power Output (<30 HP, 31-70 HP, 71-130 HP, Others), By Drive (2 Wheel Drive and 4 Wheel Drive), By Region, Forecast & Opportunities to 2026

The global farm equipment rental market accounted for a value of USD 41.2 billion in 2019 and  is projected to register growth at a CAGR of 6.7% during forecast period.

COVID-19 has impacted farm equipment rental market. The manufacturing units halt to halt its production due to lockdown and the supply chain is disrupted due to travel restriction. The laborers are migrating which leads to lack of workers in the farm and the production houses have piled up a large stock in store and can’t use which caused a great loss to the farmers. This decreases the adoption of farm equipments. Many farms are closed due to COVID-19. The farm equipment rental market is likely to witness loss due to COVID-19.

Definition:

Farm equipments can be defined as machinery used for farming or other agriculture purposes. There are many types of equipments such as hand tools, tractors, harvesters, power tool and others. These equipment increases efficiency of work in farming practices and these equipments are used in non-organic and organic farming.

Market Dynamics (Drivers/Opportunities):

The population is increasing globally and this increases the food demand. There is shortage of skilled labors to cope with the increasing food demands. This leads to adoption of various new technologies for farming. This leads to farmer rent various farm equipments and drives growth in farm equipment rental market during forecast period.

The mechanization trends are increasing and the need for decreasing post harvesting operational loss is increasing around the world. The labor cost is increasing immensely along with the increasing demand for crop productivity. In order to overcome shortage of food government is also supporting farming equipments and this drives growth in farming equipment rentals market.

Market Insights, by Equipment Type

On the basis of equipment type, the farm equipment rental market is segmented into tractors, harvesters, balers, sprayers and others. The harvesters segment is estimated to register growth at highest CAGR during forecast period. The harvesters are self-propelled machines which are designed to harvest an assortment of grain crops efficiently. The harvester is used to winnowing, reaping and threshing operations. The labor cost is high and harvesting cannot tolerate the insufficient workforce. The increases the adoption of harvesters and drives growth in harvesters segment during forecast period.

Market Insights, by Power Output

On the basis of power type, the farm equipment rental market is segmented into <30 HP, 31-70 HP, 71-130 HP, 131-250 HP and >250 HP. The 71-130 HP segment is estimated to dominate the market during forecast period. The 71-130 HP power output segment consists of some 2WD tractor and 4WD tractors models. The farm mechanization is increasing rapidly around various regions such as Asia-Pacific. The demand for various farm equipments such as tractors due factors such as higher food production necessity, greater power requirements and high consumption rates. This increases adoption of 71-130 HP power output segment and drives growth in this segment during forecast period.

Market Insights, by Drive

On the basis of drive, the farm equipment rental market is segmented into two-wheel drive and four wheel drive. The four-wheel drive segment is estimated to be the fastest growing segment during forecast period. The 4WD tractors are robust machines mainly used for large scale commercial farming practices. Tractors have high wheel slip and very high pulling capacity along with very high pulling capacity. The 4WD tractors body is resistant to maximum war and tear and the adoption of 4WD is increasing and this drives growth in 4WD segment during forecast period.

Regional Insights

Asia-Pacific region is estimated to lead the market during forecast period. The land under farming is larger in this region and the production of rice and, cotton and palm is very higher. There is shift from adopting labor intensive farming to adopting advance technique for farming. The use of advance technological equipments is increasing in agricultural sector in Asia-Pacific region. This increases the demand for tractor, harvester and other farming equipments for renting purposes. The investment in machinery agriculture sector is widely increasing in this region and this drives growth in Asia-Pacific region in farm equipment rental market during forecast period.

Key Companies & Market Share Insights

The key market players in farm equipment rental sector are John Deere, CNH Industrial, Kubota Corporation, AGCO Corporation, Mahindra & Mahindra, Escorts Ltd., JCB, Tractors & Farm Equipment Ltd., Pape GrooupInc., Premier Equipment Rentals, Flaman Group of Companies, Pacific AG Rentals, Farmease, Kwipped Inc., Cedar Streets Sales & Rentals Inc., and EM3 Agri-services Ltd.

Segments Covered in the Report

This report forecasts The Global Farm Equipment Rental Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global farm equipment rental market report on the basis of equipment type, power output and end-users.

Farm Equipment Rental Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Farm Equipment Rental Market, By Equipment Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Tractors
  • Harvesters
  • Balers
  • Sprayers
  • Others
  1. Farm Equipment Rental Market, By Power Output, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • <30 HP
  • 31-70 HP
  • 71-130 HP
  • 131-250 HP
  • >250 HP
  1. Farm Equipment Rental Market, By Drive, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Two Wheel Drive
  • Four Wheel Drive
  1. Farm Equipment Rental Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Equipment Type
    • By Power Output
    • By Drive
    • By Country
      • USA
        • By Drive
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Equipment Type
      • By Power Output
      • By Drive
      • By Country
        • Brazil
          • By Drive
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Equipment Type
        • By Power Output
        • By Drive
        • By Country
          • UK
            • By Drive
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Equipment Type
          • By Power Output
          • By Drive
          • By Country
            • China
              • By Drive
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Equipment Type
            • By Power Output
            • By Drive
            • By Country
              • Saudi Arabia
                • By Drive
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • EM3 Agri-services Ltd
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • John Deere
    • CNH Industrial
    • Kubota Corporation
    • AGCO Corporation
    • Mahindra & Mahindra
    • Escorts Ltd.
    • JCB
    • Tractors & Farm Equipment Ltd.
    • Pape GrooupInc.
    • Premier Equipment Rentals
    • Flaman Group of Companies
    • Pacific AG Rentals
    • Farmease
    • Kwipped Inc.
    • Cedar Streets Sales & Rentals Inc.
  2. Appendix
    • Interrelated Market

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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