North America Farm Equipment Rental Market Size & Outlook
North America farm equipment rental market highlights
- The North America farm equipment rental market generated a revenue of USD 14,194.3 million in 2023.
- The market is expected to grow at a CAGR of 5.6% from 2024 to 2030.
- In terms of segment, tractors was the largest revenue generating equipment type in 2023.
- Tractors is the most lucrative equipment type segment registering the fastest growth during the forecast period.
North America data book summary
| Market revenue in 2023 | USD 14,194.3 million |
| Market revenue in 2030 | USD 20,799.8 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Tractors |
| Fastest growing segment | Tractors |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tractors |
| Key market players worldwide | Deere & Co, CNH Industrial NV, AGCO Corporation, Kubota Corp, Mahindra & Mahindra Ltd DR |
Other key industry trends
- In terms of revenue, North America region accounted for 26.4% of the global farm equipment rental market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 29,944.0 million by 2030.
Tractors was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the North America farm equipment rental market based on tractors covering the revenue growth of each sub-segment from 2018 to 2030.
The adoption of advanced technologies in agriculture, such as precision farming tools and automated machinery, is driving the demand for rental equipment in North America.
Renting enables farmers to utilize the latest technological innovations without the long-term commitment of ownership. Equipment with GPS guidance, variable rate technology, and data analytics capabilities helps improve efficiency, reduce input costs, and enhance overall farm management practices.
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Farm Equipment Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| AGCO Corporation | View profile | 10001+ | Beloit, Kansas, United States, North America | https://www.sunflowermfg.com/ |
| Kubota Corp | View profile | 65532 | 2-47, Shikitsuhigashi 1-Chome, Naniwa-ku, Osaka, Japan, 556-8601 | http://www.kubota.co.jp |
| Mahindra & Mahindra Ltd DR | View profile | 61874 | Dr. G. M. Bhosale Marg, Mahindra Towers, 5th Floor, Worli, Mumbai, MH, India, 400 018 | https://www.mahindra.com |
| CNH Industrial NV | View profile | 40496 | Cranes Farm Road, Basildon, Essex, London, United Kingdom, SS14 3AD | https://www.cnhindustrial.com |
| Deere & Co | View profile | 83000 | One John Deere Place, Moline, IL, United States, 61265 | https://www.deere.com |
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