How big is the farm equipment rental market | Insights & Growth 2025

Q: How big is the farm equipment rental market size?

The farm equipment rental market is expected to reach USD 104.9 billion by 2031.

Q: What is the expected CAGR for the farm equipment rental market?

The farm equipment rental market is projected to grow at a CAGR of 8.6% during the forecast period.

Q: Which types of equipment are most commonly rented?

Tractors, harvesters, seeders, and tillers are among the most commonly rented agricultural machinery.

Q: Which regions are witnessing rapid growth in this market?

Asia-Pacific and Latin America are emerging as strong growth markets due to increased farming mechanization.

Q: How does 6W market outlook report help businesses in making decisions?

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Code: MTA6042

Publication Date: Jul 2025

How big is the farm equipment rental market?

According to 6Wresearch internal database and industry insights, Global farm equipment rental market was valued at approximatelyUSD 58.4 billion in 2024 and is projected to reachUSD 104.9 billion by 2031, growing at aCAGR of 8.6% during the forecast period.

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This growth is driven by the rising cost of new agricultural machinery, increasing adoption of mechanized farming in emerging economies, and flexibility offered by rental models. The trend toward precision agriculture and short-term usage needs is also accelerating demand for rental services.

Key Growth Factors of the Farm Equipment Rental Market

High upfront cost of new farming machinery
Expansion of mechanized agriculture in developing regions
Increased focus on cost-effective farming operations
Short-term and seasonal equipment needs
Rising popularity of precision agriculture tools
Government incentives promoting agricultural efficiency

Farm Equipment Rental Market Trends

The market is witnessing a rise in digital platforms enabling on-demand equipment rental and real-time availability tracking. Subscription-based rental services and bundled offerings equipment and operator are becoming more common, especially in Asia and Africa. Environment-friendly electric tractors are also making their way into rental fleets.

Emerging Developments in the Farm Equipment Rental Market

Emerging developments in the farm equipment rental market include autonomous tractors for hire, smart fleet management with IoT tracking, and blockchain-based rental contracts. Rental platforms are expanding into tier-2 and rural markets to meet the growing mechanization demands of small and mid-sized farmsâ€”an indicator of rising industry queries like how big is the farm equipment rental market in future projections.