Published Date : Jun 07, 2016
Albany, NY, June 07, 2016: The global market for agricultural equipment finance has been analyzed in a market research report recently added to the vast research report database of MarketResearchReports.biz. The report gives a thorough account of the present state of the market and gives a forward looking perspective about the growth prospects of the market over the period between 2016 and 2020. The report is titled “Global Agricultural Equipment Finance Market 2016-2020.”
The market is expected to exhibit a modest 3.61% CAGR over the said period. Growth will be driven by factors such as special finance programs introduced by government bodies for farmers and the availability of several finance options. The increased availability of agricultural equipment at competitive prices across the globe in recent times has led to a substantial reduction in overall capital costs, prompting farmers to acquire finances for fulfilling their equipment requirements.
The rising demand for easy finance options has enticed many equipment manufacturers in offering deals such as long-term contracts with personal guarantees, asset liens, and covenants. The rising number of agriculture equipment manufacturers and vendors willing to offer finance options and the high demand for such services will be the major driving forces for the global agricultural equipment finance market over the forecast period.
One of the most prominent finance programs run by government bodies for the benefit of farmers is the Aggie Bonds and guaranteed funding by the US Department of Agriculture. Several banks in the country also have initiatives through which depositor funds are linked to special lending pools, allowing farmers easy and affordable loans. The Aggie Bond initiative also offers tax-free bond programs with a view of helping farmers buy equipment and land. Such and several other programs that help farmers with assistance in down payments, refinance on debts, and purchase of equipment are expected to significantly propel the agricultural equipment finance market over the report’s forecast period.
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The global agricultural equipment finance market has been segmented from the point of view of geography into Americas, EMEA, and APAC. Of these, APAC dominated in 2015, accounting for nearly 72% in the global agricultural equipment finance market. Over the forecast period, the demand for agricultural equipment such as rice trans planters, combined harvesters, tillers, large tractors, balers, and threshers is expected to rise in APAC countries such as India, China, South Korea, Japan, and Thailand. A rising focus on the mechanization of agricultural processes is also expected to drive the market for agricultural equipment finance in APAC over the forecast period.
The report also presents a detailed overview of the competitive landscape of the global agricultural equipment finance market, along with through business profiles of some of the most influential vendors in the market. Market players profiled in the report include Agricultural Bank of China Ltd., Wells Fargo & Co., BNP Paribas SA, Deere & Co., JP Morgan & Chase Co, Banc of America, KeyCorp, and PNC Financial Services Group.
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