Farm Equipment Rental Market Report 2025

The farm equipment rental market size has grown strongly in recent years. It will grow from $58.08 billion in 2024 to $61.75 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to cost savings for farmers, seasonal demand, flexibility and accessibility, variability in land size, avoidance of depreciation costs, diverse crop types.

The farm equipment rental market size is expected to see strong growth in the next few years. It will grow to $83.54 billion in 2029 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to environmental sustainability, government support and subsidies, shortage of skilled labor, market entry of rental platforms, rising land fragmentation, and global trade dynamics. Major trends in the forecast period include collaborations with agricultural technology, smart farming technologies, flexible rental solutions and models, collaboration platforms for equipment sharing, and integration of IoT in equipment.

A shortage of skilled labor is anticipated to drive growth in the farm equipment rental market in the coming years. This labor shortage indicates that there are not enough qualified individuals available for specific occupations. As the scarcity of skilled labor persists, the demand for farm equipment rentals becomes increasingly beneficial for the agricultural sector, as it provides an affordable solution for farmers. For example, in September 2023, the United States Census Bureau, a government agency, projected that by 2030, the manufacturing industry will need to fill 4 million jobs, with 2.1 million of those potentially remaining unfilled due to the skilled labor shortage. Thus, the lack of skilled labor is fueling the expansion of the farm equipment rental market.

The high cost of agriculture equipment is poised to drive the growth of the farm equipment rental market. The high cost of agriculture equipment refers to the substantial financial investment needed for purchasing, maintaining, and operating various types of machinery and equipment utilized in agriculture. For instance, in July 2022, used equipment prices reported by the Alberta Farmer Express showed a 6% increase compared to June 2022. Four-wheel-drive tractors experienced a 5% increase, while tractors with 100 horsepower and above, as well as sprayers, saw a 6% uptick from the previous month. Additionally, combines recorded a 3% rise in prices compared to June 2022. Therefore, the high cost of agriculture equipment is contributing to the growth of the farm equipment rental market.

The farm equipment rental market is witnessing a significant trend towards technological advancements. Leading companies in the market are actively engaged in developing innovative technologies to enhance their market position. For example, in March 2023, Carnot Technologies, an agro-tech company based in India and backed by Mahindra & Qualcomm, introduced the Krish-e Smart Kit. This IoT device for farm equipment enables owners to access data on their tractors and other agricultural machinery using a smartphone and GPS-enabled time tracking. The Smart Kit empowers machinery owners and rental companies to reduce tractor downtime, prevent unauthorized use, increase revenue, and efficiently manage maintenance costs. With advanced features such as trip replay, the Smart Kit allows monitoring of trolley and commercial transportation activities. Representing a market-first aftermarket IoT solution, Krish-e Smart Kit provides farmers and companies with a convenient, cost-effective, and sustainable means to connect with and monitor their farm equipment from anywhere.

Major companies in the farm equipment rental market are concentrating on the development of innovative products, such as high-tech farm machinery renting platforms, to gain a competitive advantage. A farm machinery renting platform is a digital marketplace that facilitates the rental of agricultural machinery and equipment. In August 2021, Sonalika Group, an India-based tractor manufacturing company, launched the 'Sonalika Agro Solutions' app. This app serves as a platform connecting farmers with various agriculture equipment renters offering high-tech agricultural implements for rent within the farmer's vicinity. The application enables the listing of tractors and implements available for rent or assists farmers interested in renting them.

In February 2023, Titan Machinery Inc., a US-based agricultural machinery company, acquired Pioneer Farm Equipment Inc. for an undisclosed amount. This strategic acquisition aims to bolster Titan Machinery Inc.'s presence in the US agricultural market and enhance its ability to provide agricultural equipment services to customers. Pioneer Farm Equipment Inc. is a US-based manufacturer of agricultural machinery and equipment, offering farm equipment rental and leasing services.

Major companies operating in the farm equipment rental market include Deere And Company, AGCO Corporation, Escorts Kubota Limited, Tractors and Farm Equipment Limited, CNH Industrial NV, Kubota Corporation, Mahindra And Mahindra Limited, J.C. Bamford Excavators Limited, Messick Farm Equipment Inc., Pacific Tractor & Implement LLC, Premier Equipment Rentals Inc., JFarm Services (TAFE), Flaman Group of Companies, Friesen Sales And Rentals Ltd., The Pape Group, Cedar Street Sales & Rentals, Farmease, Herc Rentals Inc., Sunbelt Rentals lnc., United Rentals lnc., Nesco LLC, Farm-Rite Equipment lnc., BlueLine Rental Company, Hendershot Equipment Company, Hoober Inc., James River Equipment, Lano Equipment Inc., Martin Implement Sales Inc., Monroe Tractor & Implement Co., P&K Equipment, Redline Equipment, RDO Equipment Co.

Asia-Pacific was the largest region in the farm equipment rental market in 2024. It is expected to be the fastest growing region in the global farm equipment rental market during the forecast period. The regions covered in the farm equipment rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the farm equipment rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Farm equipment rental is the provision of agricultural equipment for a temporary period through a rental or leasing process. Prior to the contract, all parties establish and execute the rental agreement, which is subject to specific terms and restrictions. These rental services are utilized for various agricultural activities, including cultivating, harvesting, and transporting crops.

The primary types of equipment in farm equipment rental include tractors, harvesters, sprayers, balers, and others. A tractor, defined as a vehicle with large rear wheels or one traveling on tracks, is specifically designed to tow farm equipment. Power units come in various types, such as < 30 HP, 31-70 HP, 71-130 HP, 131-250 HP, and 250 HP, with different modes of drive, including two-wheel drive and four-wheel drive.

The farm equipment rental market research report is one of a series of new reports that provides farm equipment rental market statistics, including farm equipment rental industry global market size, regional shares, competitors with a farm equipment rental market share, detailed farm equipment rental market segments, market trends and opportunities, and any further data you may need to thrive in the farm equipment rental industry. This farm equipment rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The farm equipment rental market consists of revenues earned by entities by providing rental app services, commercial farming rentals, and dairy farming rental services. The market value includes the value of related goods sold by the service provider or included within the service offering. The farm equipment rental market also includes sales of dozers, excavators, skid loaders, compact track loaders, and trenchers, which are used in providing farm equipment rental services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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