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.
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- 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- Key Trend - Replacement of outdated agricultural equipment with advanced equipment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.
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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
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SOURCE Technavio
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