The growth rate of the market is due to the increase in government initiatives around the world for the rental of agricultural equipment, as this leads to an increase in agricultural production to meet the growing global food demand.
New York, October 14, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Agricultural Equipment Rental Market – A Global and Regional Analysis: Focus on Product and Country Analysis – Analysis and forecast, 2020-2026 ”- https://www.reportlinker.com/p06176310/?utm_source=GNW
In addition, the price inflation for agricultural equipment has made it difficult for small and medium-sized farmers to purchase the equipment. This has led to an increase in the growth of the global agricultural equipment rental market.
The global agricultural equipment rental market in the commodity segment is expected to be dominated by the tractor, followed by the harvester. The dominance of the tractor in the product segment is due to the versatile tractors used in the field.
Tractors are used for transportation as well as to supply power to other implements such as combines and balers.
Tractors from 50 to 100 HP are expected to dominate the tractor rental segment due to the increased applications these tractors can perform in the field. In conventional agriculture, all major activities such as harvesting and cultivation can be easily carried out by attaching an implement to a tractor having a range of 50 to 100 HP.
The agricultural rental tractor market is expected to be dominated by four-wheel-drive tractors due to the increased applications of these tractors as compared to two-wheel-drive tractors. In addition, four-wheel drive tractors can easily be used in wet fields, increasing the adoption of these tractors.
Asia-Pacific is the region that is expected to dominate the global agricultural equipment rental market in the coming years. The average farm size in most countries in the region, such as India, is less than 5 hectares of land, which is considered to be one of the main drivers of the agricultural equipment rental market in the region.
Key Market Players and Competition Summary
Deere & Company, Escorts Limited, JC Bamford Excavators Ltd., Mahindra & Mahindra Ltd., Tractors and Farm Equipment Limited, Associated Supply Company, Inc., Cedar Street Sales & Rentals, Farmease, Flaman Group of Companies, German Bliss Equipment Inc. , KWIPPED, Inc., Messick’s, Pacific Tractor & Implement, The Papé Group, Inc., Titan Machinery Inc.
The companies presented in the report have been selected on the basis of the selective pool of players, mainly level 1 (which hold 50-60% of the market), mid-segment players (comprising 30-40% shares) and small and emerging companies (holding the rest of the 10-20% shares), depending on various factors such as product portfolio, annual revenues, market penetration, research and development initiatives, as well as a national and international presence in the agricultural equipment rental industry.
• North America
• South America
• Rest of South America
• The rest of Europe
• Asia Pacific
• South Korea
• Rest of Asia-Pacific
• Middle East and Africa
• South Africa
• Rest of the Middle East and Africa
Read the full report: https://www.reportlinker.com/p06176310/?utm_source=GNW
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