The Farm Tractor Rental Global Market Report 2023, provides comprehensive information on the farm tractor 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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As per The Business Research Company’s Farm Tractor Rental Global Market Report 2023, the market size is expected to grow from $46.17 billion in 2022 to $50.52 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global farm tractor rental market size is expected to reach $69.21 billion in 2027 at a CAGR of 8.2%.
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Technological advancements have emerged as the major trend gaining popularity in the farm tractor rental market. Major companies operating in the farm tractor rental market are introducing technologically advanced farm tractor rental products and platform offerings to strengthen their position in the market. For instance, in May 2021, Proxecto, an India-based tractor company launched an innovative fully automatic hybrid tractor with advanced eco-friendly technology. This innovative tractor for agriculture works without battery packs and has the capability to run on multiple fuel options. Additionally, this is a unique tractor with all-wheel electric drive technology with easy three-mode operations without the clutch, and gear that reduces the human effort of the farmers.
The farm tractor rental market is segmented:
1) By Type: Internal Combustion Engine(ICE), Electric
2) By Operations: Manual Tractor Vehicle, Autonomous Tractor Vehicle
3) By Power Output: <30 HP, 31-70 HP, 71-130 HP, 131-250 HP, >250 HP
4) By Drive type: Two Wheel, Four Wheel
5) By Application: Harvesting, Seed Sowing, Irrigation, Other Applications
Asia-Pacific was the largest region in the farm tractor rental market in 2022.
The table of contents in TBRC’s farm tractor rental market report includes:
1. Executive Summary
2. Farm Tractor Rental Market Characteristics
3. Farm Tractor Rental Market Trends And Strategies
4. Farm Tractor Rental Market – Macro Economic Scenario
5. Farm Tractor Rental Market Size And Growth
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26. Africa Farm Tractor Rental Market
27. Farm Tractor Rental Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Farm Tractor Rental Market
29. Farm Tractor Rental Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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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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