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 comprehensive analysis in the Farm Equipment Rental Global Market Report for 2023, the anticipated trajectory of the global farm equipment rental market is poised for significant expansion. The market is projected to ascend from its 2022 valuation of $51.82 billion to a noteworthy $55.12 billion by the close of 2023, reflecting a commendable compound annual growth rate (CAGR) of 6.36%. However, the landscape has been notably impacted by the Russia-Ukraine conflict, introducing an element of unpredictability into the broader global economic recovery efforts post-COVID-19.
The repercussions of the ongoing conflict have manifested in economic sanctions on multiple nations, a palpable surge in commodity prices, and consequential disruptions within global supply chains. These multifaceted challenges have translated into inflationary pressures across a spectrum of goods and services, exerting substantial influence on various markets worldwide. Despite these challenges, the global farm equipment rental market is expected to continue its upward trajectory, reaching an estimated valuation of $71.20 billion by 2027, driven by a calculated CAGR of 6.61%.
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An observable trend shaping the future of the farm equipment rental domain is the infusion of advanced technologies. Leading industry players are proactively investing in groundbreaking innovations to fortify their market standing. A compelling example is Carnot Technologies, a prominent agro-tech entity headquartered in India and supported by Mahindra & Qualcomm. In March 2023, Carnot Technologies unveiled the Krish-e Smart Kit, an Internet of Things (IoT) device designed for farm equipment. This cutting-edge solution empowers equipment owners with real-time data insights into their tractors and other agricultural machinery, accessible conveniently via smartphone and GPS-enabled time tracking.
The Krish-e Smart Kit proves instrumental in mitigating tractor downtime, preventing unauthorized use, enhancing revenue streams, and facilitating efficient maintenance cost management. Notably, its sophisticated trip replay functionality allows for meticulous monitoring of trolley and commercial transportation activities. This market-first aftermarket IoT solution not only furnishes farmers and companies with on-demand access to a fleet of high-tech agricultural vehicles but also presents a cost-effective, sustainable means to remotely connect with and monitor their farm equipment, regardless 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
Top 5 Major Players:
Asia-Pacific was the largest region in the farm equipment rental market in 2022.
Table of contents :
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
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Farm Equipment Rental Market, Segmentation By Equipment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Farm Equipment Rental Market, Segmentation By Power Output, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Farm Equipment Rental Market, Segmentation By Drive, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
….
Table 46: Deere And Company Financial Performance
Table 47: AGCO Corporation Financial Performance
Table 48: Escorts Kubota Limited Financial Performance
Table 49: Tractors and Farm Equipment Limited Financial Performance
Table 50: CNH Industrial Financial Performance
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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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