![]() The demand for high-powered tractors is higher in European countries, whereas Asian countries demand low-powered tractor rental. The North American and European countries have a higher demand for tractor rental compared to developing regions. ![]() Companies collaborate with application companies to promote leasing businesses and encourage farmers to use farm equipment at affordable prices. Tractors hold the largest share among all the rented farm equipment. The 31-70 HP farm tractor would hold the largest share in the rental market However, the benefits such as energy efficiency, high torque, low emission, and low maintenance of electric tractors would boost their demand in the long run. Challenges such as high battery cost, limitations in battery technology and limited possible applications of battery electric tractors would slow down the demand for these tractors for the next 3-4 years. Hybrid electric tractors can offer 35-40% savings on annual fuel expenditures. Alternatively, the pure battery electric tractors would run on battery power only. Hybrid electric farm tractors use a diesel engine and a regenerative energy storage system that helps increase fuel efficiency and offers the required propulsion in heavy-duty applications. To meet the stringency of Non-Road Mobile Machinery (NRMM) emission regulations, the OEMs are developing hybrid and electric farm tractors. The demand for electric & autonomous tractors and the rising demand for farm equipment rental services would create growth opportunities in the Farm Equipment Market.īattery electric tractors would lead the future of the tractors industry An increase in farm mechanization, government support with farm loan waivers/credit finance, contract farming, and a shortage of skilled labor are the key factors driving farm equipment growth globally.īrowse in-depth TOC on “ Farm Equipment Market” 12, 2022 (GLOBE NEWSWIRE) - Farm Equipment Market is projected to grow from USD 111.8 billion in 2022 to USD 141.6 billion by 2027, at a CAGR of 4.8% during the forecast period, according to a new report by MarketsandMarkets™. The enclosed operator cab maximizes productivity and speed of operation, making for a safer working environment with heavy equipment.Chicago, Sept. Visibility: Easily complete precision grade work with a John Deere SmartGrade™ ready machine. A powerful 130 hp (97kW) engine gives operators plenty of muscle to push heavy loads of dirt, gravel, sand, or construction and demolition materials. Browse our wide selection of heavy equipment rentals if you require a smaller machine. Power: The John Deere 700K LGP dozer rental is a versatile piece of heavy equipment with good maneuverability for medium sized construction work.
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