Global Tractor Rental Market Growth, Trends, and Forecast 2020-2025 Featuring Major Players - John Deere, Farmease, Trringo, and JFarm Services - ResearchAndMarkets.com

The "Tractor Rental Market- Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The global tractor rental market is anticipated to register a CAGR of about 8% during the forecast period (2020 - 2025).

In the current market scenario where everything can be rented from bicycle to home, from car to workplace sharing or renting a tractor is much-needed service as most of the tractors are just parked in the garage. Tractor rental companies offer tractors as per the requirements of the farmers.

Purchasing any farming machinery always requires a huge amount of money and in addition to that, it needs maintenance but in case of renting there is no hassle of any maintenance.

The increasing demand for mechanization and the rising number of low and medium-scale farmers are the primary factors that are creating a huge demand for tractor rental in underdeveloped countries such as Ghana and other African countries, majorly in the south of the Sahara, tractor rental firm allows tractor owners to fully utilize their machines, and additionally providing services to farmers, who cannot afford their tractors.

Key Market Trends

Increase in Online Rental Services is driving the Market

Tractor rental market has created the best solution to the middle-class farmers' who can't afford and maintain the tractor as now they can rent a vast variety of tractors on basis of location, type, feature, and duration. Farmease one of the leading rental service providers in the United States connects the farmers to share their spare farm machinery to the needy farmers who can't afford the machinery.

Tractor owners can earn from their tractor which adds a second income source to them, and on the renters front, they get access to the tractor on demand by that they get the latest technology at affordable prices according to the need. Major rental service providers are tapping on the unexplored market as the developing countries have huge potential for tractor rental as compared to matured markets such as North America and Europe.

For instance, in 2018, Aeris, the United State based technology company is coming together with Hello Tractor, an agriculture technology company that has previously worked with farmers in Nigeria and Kenya, to launch a tractor rental service in India.

Competitive Landscape

The global tractor rental market is moderately fragmented, has several active players, and also the market is witnessing the emergence of many new startups. Some of the major players in the market are John Deere, Farmease, Trringo, and JFarm Services amongst others. The companies are expanding their presence by acquiring other market participants, increasing their tractor counts, tapping in new and unexplored markets. For instance,

In 2019, John Deere entered into an agreement with the Plooua mobile application, The platform makes the renting process easy and convenient it formalizes the contract and carries out the payment process by a secure payment platform.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Drivers

4.2 Market Restraints

4.3 Industry Attractiveness - Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Tractor Type

5.1.1 Utility Tractors

5.1.2 Row Crop Tractors

5.1.3 Industrial Tractors

5.1.4 Earth Moving Tractors

5.2 By Power Source

5.2.1 IC Engine

5.2.2 Electric

5.3 By Power Type

5.3.1 Less than 100 hp

5.3.2 100-200 hp

5.3.3 More than 200 hp

5.4 By Geography

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles

6.2.1 Kwipped Inc.

6.2.2 John Deere

6.2.3 EM3 Agri Services

6.2.4 Titan Machinery

6.2.5 The Pape Group, Inc.

6.2.6 Premier Equipment Rental

6.2.7 Flaman Group of Companies

6.2.8 Pacific Tractor & Implement

6.2.9 JFarm Services

6.2.10 Farmease

6.2.11 Trringo

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/9jvfef

View source version on businesswire.com: https://www.businesswire.com/news/home/20201130005440/en/