Farm Equipment Rental Market

Farm Equipment Rental Market Size by Type (Agriculture Tractors, Agriculture Harvesters, Agriculture Planting Equipment, Irrigation and Crop Processing Equipment, Cultivation and Ploughing Equipment, Planting Equipment, Cutter and Shredders Equipment, and Others), Application (Land Development and Seed Bed Preparation Equipment, Sowing and Planting, Cultivation, Plant Protection, Harvesting and Threshing, Post-Harvest and Agro-Processing and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14123
  • Published Date: Feb, 2024
  • Pages: 237
  • Category: Agriculture
  • Format: PDF
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The global farm equipment rental market was valued at USD 50 billion in 2023 and grew at a CAGR of 7% from 2024 to 2033. The market is expected to reach USD 98.35 billion by 2033. The increasing number of providers or suppliers/rental services in the farm equipment product category will drive the growth of the global farm equipment rental market.

Market Introduction:

Farm Equipment Rental businesses offer agricultural machinery and equipment on a rental basis. They primarily cater to farmers who require access to specialized or expensive equipment without the burden of purchasing it outright. Providers range from specialized companies focusing solely on agricultural machinery to more diversified rental businesses serving various industries. Farmers benefit from the flexibility, cost savings, and reduced maintenance burdens renting equipment offers. It significantly reduces the upfront costs associated with purchasing agricultural machinery. Renting offers flexibility. Farmers can adjust the type and size of equipment based on their evolving needs, seasonality, or specific tasks. Rental agreements often include maintenance services, reducing the burden on farmers to upkeep and repair machinery. Furthermore, renting enables scalability. Access to the right equipment at the right time enhances farm productivity and profitability. Additionally, renting allows farmers to test new technologies and equipment before making long-term commitments, mitigating risks associated with an investment in unfamiliar machinery.

Farm Equipment Rental Market Size

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Recent Development
  • The Agriculture Ministry of India created an app allowing farmers to rent tractors, rotavators, and other farm-related machinery for variable periods. The app appears to provide farmers with a comparable level of convenience and is compared to Uber. The research states that 38K custom hiring centres, or CHCs, have been established nationwide in India and can rent 2.5 Lakh farm equipment annually. According to the article, the ministry has successfully concluded trials in Chhattisgarh, Madhya Pradesh, Rajasthan, and Punjab.

Market Dynamics:


The increasing awareness about farm equipment rentals – the cost efficiency of renting over purchasing outright addresses the financial challenges farmers face, particularly small farmers. Farmers can access necessary machinery without incurring substantial upfront costs, allowing them to allocate their capital more effectively across other operations. Moreover, the flexibility and adaptability offered by rental services cater to the dynamic nature of farming. Additionally, the emphasis on sustainability and environmental concerns in modern agriculture underscores the importance of equipment sharing through rental services. By reducing the number of machines in operation and promoting resource conservation, renting contributes to mitigating the environmental impact of farming. Furthermore, farm equipment rentals facilitate market access and risk mitigation for farmers. Additionally, renting allows farmers to test new equipment or techniques before committing to long-term investments. These factors collectively drive the growing demand for farm equipment rentals.


Cost considerations Concerns about equipment reliability and performance arise from variations in the quality of rental machinery, influenced by factors like age, usage history, and maintenance practices of rental companies. Instances of breakdowns or malfunctions due to inadequate maintenance can disrupt farm operations and erode trust in rental services. Moreover, rental fees remain a substantial expense for farmers, especially during peak seasons or when multiple pieces of equipment are required simultaneously. Fluctuations in rental costs, influenced by equipment type, duration, and operating expenses, pose challenges for farmers in budgeting. These limitations may deter farmers from relying on rental services, reducing accessibility and utilization of rental equipment in agricultural operations. Therefore, the cost considerations will limit the adoption of rental services and hamper the market’s growth.


Technological advancements – technology has revolutionized the design and functionality of agricultural machinery, leading to more efficient, precise, and versatile equipment. The rapid pace of technological innovation has made new equipment available on the market, and renting allows farmers to access cutting-edge technology without the long-term commitment or financial burden of ownership. Technological advancements have led to a proliferation of specialized equipment designed for specific tasks or conditions. For example, precision agriculture technologies, such as GPS guidance systems and variable rate application technology, enable farmers to optimize inputs and maximize yields with greater precision. Renting provides a cost-effective solution for accessing such equipment on an as-needed basis. Technological advancements drive the need for farm equipment rentals by offering farmers access to the latest innovations without financial risks and long-term commitments.

  • An agreement was made by Burro and Pacific Ag Rentals to supply the robotic platforms as part of PAR's equipment rentals. The partnership will make the Burro robots more widely available in the U.S. The autonomous robotic platform Burro is transforming field work for agricultural labourers. It raises field efficiency in both nursery settings and a range of crops. Pop-up autonomy on the Burro platform means that the technology is plug-and-play. Users need little training to start using the system immediately because it functions out of the box.
Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the most significant global farm equipment rental market, with a 44% market revenue share in 2023.

The region’s diverse agricultural landscape, ranging from smallholder farms to large commercial operations, creates a substantial demand for various farm equipment. Rapid urbanization and population growth in the region have increased pressure on agricultural land and labour, driving the need for mechanization and modernization. The Asia Pacific region has seen significant advancements in agricultural technology, supported by government initiatives, private sector investment, and international collaborations. Government support through Subsidies, incentives, and support programs makes it easier for farmers to access equipment rental services. Infrastructure development has improved access to rental services in rural areas. Investments in transportation networks, market facilities, and rural electrification have reduced logistical challenges and facilitated the expansion of rental companies into remote regions.

Asia Pacific Region Farm Equipment Rental Market Share in 2023 - 44%

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  • Part of the Mahindra Group, Swaraj Tractors is a quickly expanding tractor brand in the nation that just introduced the "Swaraj 8200 Wheel Harvester." An innovative aspect of the 'Swaraj 8200' is its intelligent system, which provides real-time information to machine owners. This information includes live position tracking and business parameter tracking, such as fuel usage, road kilometres travelled, and acres harvested. AdBlue level indicators, engine warnings, vehicle servicing, and health alerts provide real-time monitoring for equipment owners, farmers, and rental business owners, optimizing the machine's use and profitability. This reduces downtime and permits preventative maintenance as well.
Type Segment Analysis

The type segment is divided into agriculture tractors, agriculture harvesters, agriculture planting equipment, irrigation and crop processing equipment, cultivation and ploughing equipment, planting equipment, cutter and shredders equipment, and others. The agriculture tractors segment dominated the market, with a market share of around 37% in 2023. Tractors are the most sought-after equipment in farm equipment rentals due to their versatility, multi-functional capabilities, power, adaptability, and ease of use and maintenance. Their versatility enables them to perform various tasks throughout the farming process. Tractors can be equipped with various attachments and implements to accomplish different tasks efficiently. Additionally, tractors come in various sizes and configurations, making them suitable for diverse farm sizes and types. Tractors are user-friendly machines, making them easy to operate. Their relatively simple mechanical systems also contribute to ease of maintenance, reducing downtime and operational disruptions.

  • The co-operative department of Bihar introduced an app-based system that allows small and marginal farmers in about 3,000 primary agricultural credit societies (PACS) to rent farm equipment, such as tractors and harvesters. By this method, farmers who lack farm equipment for tilling their land or other cultivation needs might reserve it through the app, and the machines would be brought to their door based on availability. Hourly rates would apply to the rentals. The farm equipment the new service will cover has already been mapped, making it simple to access the units when needed.
Application Segment Analysis

The application segment is divided into land development and seed bed preparation equipment, sowing and planting, cultivation, plant protection, harvesting and threshing, post-harvest and agro-processing and others. The cultivation segment dominated the market, with a market share of around 39% in 2023. cultivation tasks, such as planting and soil preparation, are often seasonal, leading to fluctuations in equipment needs throughout the year. Renting allows farmers to access the necessary machinery only when needed. Additionally, cultivation equipment includes specialized implements designed for specific tasks, and Renting provides a cost-effective solution for accessing such specialized equipment without needing a large capital investment. Technological advancements in cultivation equipment drive the demand for renting by enabling farmers to access the latest technology.

  • To close the technology gap between farmers and high-tech farm equipment, Sonalika Group introduced its new "Sonalika Agro Solutions" tractor and implemented a rental app, covering everything from harvesting to land preparation. The network links farmers with a vast array of machinery renters in their area who provide high-tech farming tools for hire. The software allows farmers to select from various solutions based on their needs and convenience. If farmers want assistance, a tele-customer support service is available to help with the registration procedure. With this software, farmers interested in renting tractors or equipment can do so and receive the same rent.
Some of the Key Market Players:
  • Aktio Corporation
  • Ashtead Group Plc.
  • Cramo
  • H&E Equipment Services, Inc.
  • Loxam
  • Maxim Crane Works, L.P.
  • Nishio Rent All Co. Ltd.
  • Ramirent Plc.
  • Sarens NV
  • Speedy Hire Plc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 50 Billion
Market size value in 2033 USD 98.35 Billion
CAGR (2024 to 2033) 7%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level.
Segments Type and Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global farm equipment rental market was valued at USD 50 billion in 2023 to USD 98.35 billion by 2033.

Global farm equipment rental market is growing at a CAGR of 7% during the forecast period 2024-2033.

The market's growth will be influenced by the increasing awareness about farm equipment rentals.

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This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global farm equipment rental market based on below mentioned segments:

Global Farm Equipment Rental Market by Type:

  • Agriculture Tractors
  • Agriculture Harvesters
  • Agriculture Planting Equipment
  • Irrigation and Crop Processing Equipment
  • Cultivation and Ploughing Equipment
  • Planting Equipment
  • Cutter and Shredders Equipment
  • Others

Global Farm Equipment Rental Market by Application:

  • Land Development and Seed Bed Preparation Equipment
  • Sowing and Planting
  • Cultivation
  • Plant Protection
  • Harvesting and Threshing
  • Post-Harvest and Agro-Processing
  • Others

Global Farm Equipment Rental Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa


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