The report forecasts the global tractor rental market to grow at a CAGR of 8.09% during the period 2016-2020.
The report, Global Tractor Rental Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is increase in consolidation of fragmented land in Europe and the Americas. There has been a growing trend where the size of the land in the Americas and Europe is getting consolidated since the return from the larger farms is much greater than the smaller farms. Large companies such as Farm and ranch supply stores in the US, Monsanto, and Archer-Daniels Midland have started dominating the agricultural market. The consolidation of smaller farms to larger farms is attributed to the fact that large farm size rationalizes better financial returns than the smaller or mid-sized farms.
According to the report, one of the major drivers for this market is high labor wage. The labor wage in regions such as the Americas and Europe is already high, whereas APAC countries such as India and China are experiencing a rise in the minimum wage of laborers. As a result, it is difficult for farmers to employ more laborers in the market. Farmers are finding out ways of renting out tractors and other farm equipment in their agricultural field to fulfill the low employment of laborers in their fields. It can be inferred that increase in the wage of laborers is acting as a strong growth driver for this market.
- Pacific Rentals
- Sunbelt Rentals
- John Deere
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by engine power
Part 07: Geographical segmentation
Part 08: Key leading countries
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Key vendor analysis
Part 15: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/srx42x/global_tractor
Research and Markets
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SOURCE Research and Markets