Farm Equipment Rental Market Size Worth $ 85.47 Billion By 2032 | CAGR: 5.30%

Farm Equipment Rental Market Size Worth $ 85.47 Billion By 2032 | CAGR: 5.30%

The global farm equipment rental market size is expected to reach USD 85.47 billion by 2032, according to a new study by Polaris Market Research. The report “Farm Equipment Rental Market Share, Size, Trends, Industry Analysis Report, By Equipment Type (Tractors, Balers, Sprayers, Harvesters, and Other types); By Power Output; By Drive; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Huge demand for farm equipment is gaining traction in various countries worldwide. These pieces of equipment are popular because they significantly improve farm efficiency and productivity. As a result, many companies are investing in the market to improve their businesses. For instance, in January 2023, John Deere established seven new tractors and three farm implements in India. Also, the company launched its newest edition of Power and Technology 4.0 and numerous new technologies, products, and agricultural solutions to offer farmers an excellent experience. Likewise, many other key players invest millions of dollars in various products and technologies. Advances in farm equipment technology have made equipment more efficient and productive. This factor is flourishing the market’s growth globally.

As the global population grows, food and agricultural products demand increases. This drives demand for farm equipment to help farmers produce more food efficiently. Apart from this, the volatility of commodity prices has led farmers to seek more flexible solutions, such as renting equipment instead of buying it, to manage costs and reduce risks.

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Technological developments are nowadays vital to accomplishing sustainability goals in agriculture worldwide. Sensors, satellite and GPS technologies, drones, smart irrigation, and automation provide the means for precision agriculture and further assist in effective resource utilization. For example, in September 2018, with the release of the Automated Concept Tractor, which delivers the strength of cutting-edge digital vehicle technology focused on precision-based farming, Escorts Limited, India’s foremost engineering conglomerate, introduced its distinctive Automated Farming Solutions. Surging awareness regarding the significance of technology in agriculture has led to technological innovation. As a result, the global market is expanding at a high pace.

Farm Equipment Rental Market Report Highlights

  • Harvester equipment segment is expected to grow at the fastest CAGR during the forecast period primarily due to its beneficial aspects such as versatility, self-propelled machines, and many more
  • 4-wheel drive segment held the largest share of the global market. This is linked to its high pulling capacity and high wheel power capacities
  • 71-130 HP segment is dominating the global market in 2022 as it mainly consists of 2WD tractors and 4WD tractor models
  • Asia Pacific held the largest share in 2022 due to growing demand for renting tractors and harvesters and rising investments in many agriculture machineries among market players in the region
  • The global players include Deere & Company, AGCO Corporation, Escorts Limited, Flaman Group, Pape Group, Titan Machinery, Farm Equipment, Friesen Sales, Pacific Ag Rentals, Pacific Tractor, Messick Farm Equipment, and Premier Equipment.

Polaris Market Research has segmented the farm equipment rental market report based on equipment type, power output, drive, and region:

Farm Equipment Rental, Equipment Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Tractors
  • Balers
  • Sprayers
  • Harvesters
  • Other types

Farm Equipment Rental, Power Output Outlook (Revenue - USD Billion, 2019 - 2032)

  • >250 HP
  • 131-250 HP
  • 71-130 HP
  • 31-70 HP
  • <30 HP

 Farm Equipment Rental, Drive Outlook (Revenue - USD Billion, 2019 - 2032)

  • Four Wheel
  • Two Wheel

Farm Equipment Rental, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Farm Equipment Rental Market Report Scope

Report Attributes


Market size value in 2024

USD  56.68 billion

Revenue forecast in 2032

USD  85.47 billion


5.30% from 2024 – 2032

Base year


Historical data

2019– 2022

Forecast period

2024– 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Equipment Type, By Power Output, By Drive, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Deere & Company, AGCO Corporation, Escorts Limited, Flaman Group of Companies, The Papé Group Inc., Titan Machinery Inc. and Tractors, Farm Equipment Limited, Friesen Sales & Rentals, Pacific Ag Rentals, Pacific Tractor & Implement, Messick Farm Equipment Inc., and Premier Equipment Ltd.

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