DUBLIN, May 3, 2019 /PRNewswire/ -- The "Global Agricultural Equipment Finance Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The agricultural equipment finance market will register a CAGR of more than 4% by 2023.
Agricultural equipment finance provides quick and easy access to credit unlike traditional financial institutions, which may take more than a day to complete the paperwork for the loan application. Many banks also have policies that encourage them to provide loans to farmers due to government support. In addition, alternative finance caters to such businesses by providing quick and easy access to credit. Many alternative finance sources also provide small-to-medium scale unsecured loans, which allows small, asset-light businesses to obtain funding.
The growth of online finance platforms has also simplified access to funds for the agricultural sector participants. Agricultural entities such as farmers, contractors, and dealers can apply for credit on these platforms within minutes of registering, and funds are credited instantly once the application is approved. Hence, quick and easy access to loans will drive the growth of the global agricultural equipment finance market during the forecast period.
Increase in farm equipment renting
Renting equipment is a cost-effective option for farmers and contractors and enables them to use the latest equipment and machinery without incurring huge cost. The increasing number of agricultural equipment rental providers is encouraging finance companies to increase their funding for well-maintained quality equipment.
Costlier bank lending rates
Bank financing was considered the cheapest way of funding in the last decade; however, since then, banks have changed strategies to boost liquidity in the market. The financial institutions downsize the customer portfolio by demanding that the borrowers pay off their credit line balances at higher interest rates. Such factors have encouraged agricultural farmers to take equipment on lease rather buying their own equipment. This, in turn, will hinder the market's growth during the forecast period.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY TYPE
- Market segmentation by type
- Comparison by type
- Lease - Market size and forecast 2018-2023
- Loan - Market size and forecast 2018-2023
- Line of credit - Market size and forecast 2018-2023
- Market opportunity by type
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- BNP Paribas
- Deere & Company
- JPMorgan Chase & Co.
- Wells Fargo
PART 14: APPENDIX
For more information about this report visit https://www.researchandmarkets.com/r/1aqrdo
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