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Summary of our market study
In 2020, the French agricultural equipment rental market is expected to grow by more than 10% a year, and is estimated to be worth around 150 million euros.
Worldwide, the market is valued at over $45 billion.
France's trade balance in agricultural equipment is in deficit by over 1.5 billion euros. Exports exceed 4 billion euros.
One of the main trends is the gradual shift from purchase to rental of agricultural equipment.
There are between 350,000 and 400,000 active farms, representing a decline of around 20% in ten years.
The average useful agricultural area per farm is between 65 and 70 hectares.
The fall in new vehicle registrations coincides with an increase in sales of leased equipment.
Total production of goods in the agricultural sector amounts to between 75 and 80 billion euros. Over 60% comes from crop production.
Crops and meadows, which make up the agricultural machinery market, account for just over half of total land use.
Tractors account for around 30% of sales by value, followed by grounds maintenance equipment with around 20%.
Players in the agricultural equipment rental market
- Manufacturers offering rental services through their dealerships: Deere, New Holland, Claas, AGCO, Case IH and Kubota
- Farm equipment rental specialists: TMC LOC, Slo-Location, Bretagne Location and Alcator represent a group of farm equipment rental specialists
The digitization of the rental offer has led to the emergence of online advertising platforms such as WeFarmUp and Agriaffaires. - Construction equipment rental: Kiloutou and Loxam have diversified their portfolios to include agricultural equipment rental.
Cooperatives for the use of agricultural equipment (CUMA) purchase equipment for rental to their members.
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Summary and extracts
1 Market overview
1.1 Definition and scope of study
Agricultural machinery refers to the various machines used in farming (tractors, combines, etc.). These machines are usually expensive to buy and maintain.
Worldwide, the agricultural equipment rental market is expected to grow at a CAGR of 6.1% over the period 2022 - 2028. The Asia-Pacific region in particular is expected to drive growth in the global agricultural equipment rental market. However, public policies in a number of developed and developing countries, such as China and India, are supporting the purchase of agricultural equipment, which could de facto slow growth in the global rental market.
The French market, meanwhile, grew by 57% between 2010 and 2020. In particular, the very sharp rise in 2020 compared with 2019 (+14.8%), may be explained by farmers' preference for the rental model, which is less financially risky, given the uncertainties caused by the pandemic. The often fragile financial situation of farmers is also a factor in favor of the rental model. Moreover, in 2021, the market remains at the same level as in 2020.
The market is characterized by significant seasonality of demand around the periods corresponding to different stages of agricultural production, such as harvesting, ploughing and sowing, which require substantial material resources, particularly in terms of farm machinery. As a result, the agricultural equipment rental sector is particularly competitive, with many different types of players positioned in the rental market (such as the French subsidiaries/branches of foreign manufacturers, dealers, agricultural rental specithere is also indirect competition from CUMAs (cooperatives for the use of agricultural equipment), which can rent equipment to their members.
In addition, the trend in the market is towards the digitalization of the offer, as well as the collaborative economy, with, for example, rental between private individuals.
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the agricultural equipment rental market | France
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