NEW YORK, Oct. 13, 2023 /PRNewswire/ -- The agricultural equipment finance market is estimated to grow by USD 156.65 billion from 2022 to 2027, growing at a CAGR of 5.41%. The agricultural equipment finance market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer agricultural equipment finance market are Adani Group, AGCO Corp., Agricultural Bank of China Ltd., Argo Tractors SpA, Barclays PLC, BlackRock Inc., BNP Paribas SA, Citigroup Inc., Deere and Co., ICICI Bank Ltd., IDFC FIRST Bank Ltd., IndusInd Bank Ltd., JPMorgan Chase and Co., Key Corp., Larsen and Toubro Ltd., Mahindra and Mahindra Ltd., Rabobank Group, State Bank of India, The Capital Group Companies Inc., and Wells Fargo and Co. For details on companies and their offerings – Buy report!
Company Offering:
- Adani Group: The company offers agricultural equipment finance services for Tractor Loan, the rural and semi-urban regions witness huge demand for finance from buyers of tractors, harvesters and other farm equipment.
- Agricultural Bank of China Ltd.: The company offers agricultural equipment finance services such as Kins Farmers Benefit Card, Farmers Benefit Credit Card, Micro-finance to Farmer Households, Personal Business Loan for Farmers.
- IndusInd Bank Ltd.: The company offers agricultural equipment finance services such as Tractor and Farm Equipment Loan.
- The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
By Geography, the market is classified as APAC, North America, Europe, South America, and Middle East and Africa. APAC is estimated to contribute 36% to the growth of the global market during the forecast period. APAC is an attractive market for agricultural equipment finance players. This is due to the high growth potential and significant contribution of the agricultural sector to GDP in countries such as India, China, and Bangladesh.
Download free sample report to get more insights on the market share of various regions and contribution of the segments.
- Impactful driver- Quick and easy access to credit
- Key Trend - Replacement of outdated agricultural equipment with advanced equipment
- Major Challenges - Costlier bank lending rates
Market Segmentation
- By Type, the market is classified into lease, loan, and line of credit. The lease segment is estimated to witness significant growth during the forecast period. The use of rental equipment is a growing trend in regions such as North America, Western Europe, and APAC. Many national governments, such as the US and India, offer tax flexibility for equipment purchases or equipment lease payments.
Technavio Research experts have provided more insights on the market share of segments - View Free Sample Report
Related Reports:
The Alternative Finance Market size is estimated to grow at a CAGR of 7.71% between 2022 and 2027 and the size of the market is forecast to increase by USD 63.35 billion.
The Decentralized Finance (DeFi) Market size is estimated to grow at a CAGR of 40.32% between 2022 and 2027 and the size of the market is forecast to increase by USD 99,652 million.
Agricultural Equipment Finance Market Scope |
|
Report Coverage |
Details |
Historic period |
2017-2021 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.41% |
YoY growth 2022-2023 (%) |
4.74 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Key countries |
US, China, India, UK, and Germany |
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact US:
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
Share this article