Global Agricultural Equipment Finance Market 2019-2023

The global agricultural equipment finance market size will grow by USD 115.09 billion during 2019-2023. This industry research report provides a detailed analysis of the market based on type (lease, loan, and line of credit) and geography (North America, APAC, Europe, South America, and MEA). The report analyzes the market’s competitive landscape and offers information on several agricultural equipment finance providers including BNP Paribas; Deere & Company; DLL; JPMorgan Chase & Co.; and Wells Fargo.

Global agricultural equipment finance industry overview

Farmers and contractors opt for farm equipment renting because it is a cost-effective option and enables them to use the latest machinery without incurring a huge cost. This encourages finance companies to increase their funding for well-maintained quality equipment, which propel the expansion of agricultural equipment finance business. Moreover, farm equipment renting is an attractive proposition for contractual agricultural workers because it offers the convenience of using the machine as per requirement. These factors are the fundamental reasons for the popularity of agricultural equipment finance globally.

The technological advancements used by financial institutions is one of the critical trends of the global agricultural equipment finance market. Agricultural equipment rental business was used to be a highly paper-intensive process until the technological advancements changed it. Technological advancements offer a higher level of automation and a certain level of standardization. This reduces manual processes to a great extent, work as a risk mitigation tool, and helps in optimizing the working capital of the bank. Adopting technological advancements by agricultural equipment finance providers helps them to identify adverse trends in their cost and performance. This has positively impacted the market growth at a CAGR of more than 4% during the forecast period.

Top agricultural equipment finance providers covered in this report

The global agricultural equipment finance market is moderately fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this agricultural equipment finance industry analysis report will help clients identify and design new growth strategies.

The report offers a detailed analysis of several leading agricultural equipment finance providers, including:

BNP Paribas

Deere & Company

DLL

JPMorgan Chase & Co.

Wells Fargo

Agricultural equipment finance market segmentation based on type

Lease

Loan

Line of credit

Lease segment held the largest agricultural equipment finance market share in 2018 owing to the option provided by financing companies to borrowers based on the residual fair market value. The market share of this segment will increase, and it will continue to dominate the market throughout the next five years.

Agricultural equipment finance market segmentation based on region

North America

Europe

APAC

South America

MEA

North America accounted for the largest agricultural equipment finance market share in 2018 owing to the expanding agricultural industry. However, this region will witness a decrease in its market share for the next five years.

Key highlights of the global agricultural equipment finance market for the forecast years 2019-2023:

CAGR of the market during the forecast period 2019-2023

Detailed information on factors that will accelerate the growth of the agricultural equipment finance market during the next five years

Precise estimation of the global agricultural equipment finance market size and its contribution to the parent market

Accurate predictions on upcoming trends and changes in consumer behavior

The growth of the agricultural equipment finance industry across North America, APAC, Europe, South America, and MEA

A thorough analysis of the market’s competitive landscape and detailed information on several vendors

Comprehensive details on factors that will challenge the growth of agricultural equipment finance providers