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Farm Equipment Rental Market Trends

Report ID: GMI6662
Published Date: Sep 2023
Report Format: PDF

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Farm Equipment Rental Market Trends

The farm equipment rental market might see an increase in digital platforms and technology integration. Online platforms could emerge that connect farmers with rental services, making it easier to find, book, and schedule equipment rentals. Additionally, there could be advancements in technology integration, such as IoT sensors and telematics, allowing farmers to monitor rented equipment's performance and usage remotely.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of farm equipment rental was worth USD 35.2 billion in 2022 and may witness over 6% CAGR from 2023 to 2032, due to consistent technological breakthroughs.

The tractor equipment type segment held 40% of the farm equipment rental market share in 2022, driven by their surging need for addressing the cost constraints of small and medium-scale farmers.

Asia Pacific recorded over 41% of the farm equipment rental industry share in 2022 and is expected to observe notable CAGR from 2023 to 2032, due to rising population and changing consumption patterns in the region.

Friesen Sales & Rentals, Cedar Street Sales & Rentals, The Papé Group Inc., Mahindra Trringo, Titan Machinery Inc., Flaman Group of Companies, Pacific Ag Rentals, Deere & Company, and Messick Farm Equipment Inc.