Agriculture Equipment Finance Market Size & Share Analysis - Growth Trends & Forecasts (2024 – 2029)

The Agriculture Equipment Finance Market Report is Segmented by Type of Finance (Lease, Loan, And Line of Credit), By Product (Tractors, Harvesters, Haying Equipment, And Other Products), And by Geography (Asia-Pacific, North America, Europe, South America, And Middle East and Africa). The Report Offers Market Size and Forecast of Agriculture Equipment Finance Market for all the Above Segments in Value (USD).

Agriculture Equipment Finance Market Size

Agriculture Equipment Finance Market Summary
Study Period 2020-2028
Market Size (2024) USD 240.17 Billion
Market Size (2028) USD 295.44 Billion
CAGR (2024 - 2028) 4.23 %
Largest Market Asia Pacific
Market Concentration Low

Major Players

Agriculture Equipment Finance Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Agriculture Equipment Finance Market Analysis

The Agriculture Equipment Finance Market size is estimated at USD 240.17 billion in 2024, and is expected to reach USD 295.44 billion by 2028, growing at a CAGR of 4.23% during the forecast period (2024-2028).

The market is mainly driven by the growing trend of farm mechanization around the world. The market is also driven by the increasing demand for simplified and fast financing through online finance platforms. The market on a global level is also being driven by the emergence of blockchain technology, which ensures real-time information transparency of a loan to all parties involved. Other factors that are contributing to the market growth include low import duty on agricultural equipment.

In addition, online financial platforms have made it easier for farmers, contractors, and dealers to access capital. These platforms allow users to apply for credit within minutes of registering, and funds are credited as soon as the loan is approved. Quick and convenient access to loans is expected to be a major driver of growth in the global farm equipment financing market over the next few years.

As the number of providers of agricultural equipment rental grows, so too does the number of finance companies willing to invest in top-notch quality equipment. This will drive the growth of the agriculture equipment finance market over the next several years. Programs like farm loan waivers are designed to encourage farmers to purchase farm equipment. Governments around the world have implemented these programs to help farmers get out of debt and encourage them to switch to mechanized farming.

Alternative finance helps businesses by providing fast and easy credit. There are many small to medium-size unsecured loans available from various alternative finance sources, which make it easier for small to medium-sized businesses to get funding. As a result, the demand for credit in agriculture-related works is expected to increase in the coming years, thus driving the growth of the agriculture & agriculture finance market.

Agriculture Equipment Finance Market Trends

Rising Demand For Tractors In Agriculture Industry

The market size of the agricultural tractor market is constantly increasing due to the increasing mechanization of the agriculture industry and the need for increased productivity and efficiency. Factors such as population increase, urbanization, food demand increase, and technological innovation in farming practices have contributed to the steady growth of the market size of agricultural tractors.

Labor costs have been rising at an alarming rate due to urbanization and the migration of people into urban areas. Labor costs are directly related to production costs. Mechanization reduces labor wages. As labor wages are rising and there is a shortage of farm labor, the rate of mechanization is increasing. The government is also supporting the increase in farm mechanization to get high yields by offering subsidies. Technological advances are also contributing to the increase in mechanization and increasing awareness among farmers of the advantages of agricultural mechanization.

Agriculture Equipment Finance Market: Annual Growth Rate in Sales Volume of Tractors, in India, in %, FY2019 – FY2023

Rise In The Sales Of Agriculture Equipment In Asia-Pacific

Asia Pacific is one of the largest markets for agricultural machinery. With a large population and high dependency on the agricultural economy, rising disposable income, the governments of emerging countries in the APAC region like India, Japan and China are focusing on cost-effective solutions for high agricultural production.

China is expected to dominate the Asia-Pacific agricultural equipment market in 2023. The country’s high market share is due to its large number of farmers, a large area under agricultural cultivation, growing demand for advanced agricultural equipment due to labor shortage, increasing government initiatives to modernize and mechanize the agriculture sector, and the presence of many agriculture equipment manufacturers.

India and China account for 60% of the farm machinery share in Asia-Pacific. Demand for farm mechanization has been steadily increasing in India and China. The main market drivers are labor shortage, the need to improve farm efficiency, contract farming, government incentives, and a high labor wage. In addition, the Indian government offers subsidies, low import taxes on agricultural equipment, and easy financing programs that encourage farmers to mechanize their farms.

Agriculture Equipment Finance Market: Rising Agriculture Equipment Sales in India, in 1,000 Units, 2019-2023

Agriculture Equipment Finance Industry Overview

The agriculture equipment finance market is fragmented. Agricultural equipment finance market companies are implanting strategic alliances, partnerships, mergers and acquisitions, geographic expansion, and product/service launches. Key players in the market are Adani Group AGCO Corp Agricultural Bank of China Ltd and Argo Tractors S.A. Barclays PLC.

Agriculture Equipment Finance Market Leaders

  1. Adani Group

  2. AGCO Corp.

  3. Agricultural Bank Ltd.of China

  4. Argo Tractors SpA

  5. Barclays PLC

*Disclaimer: Major Players sorted in no particular order

Agriculture Equipment Finance Market Concentration
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Agriculture Equipment Finance Market News

  • September 2023: AGCO Corporation, a global manufacturer and distributor of precision agriculture equipment and technology, entered a joint venture with Trimble in which AGCO will purchase an 85% share of Trimble's portfolio of agricultural assets and technologies for a cash consideration of USD 2 billion, subject to the participation of JCA Technologies.
  • May 2023: AGCO Corporation, the world’s leading designer, manufacturer, and distributor of agricultural equipment and precision agricultural technology, announced a capital improvement project to expand production capacity for Massey Ferguson, Fendt, and Momentum.

Agriculture Equipment Finance Market Report - Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Financing to support women in the agricultural sector is the primary trend shaping the growth of the market

      2. 4.2.2 Government initiatives to provide loans at a lower interest rate

    3. 4.3 Market Restraints

      1. 4.3.1 Costlier bank lending rates are a challenge that affects the growth of the market.

      2. 4.3.2 One of the biggest obstacles to market growth is the ever-evolving emission standards.

    4. 4.4 Market Opportunities

      1. 4.4.1 Quick and easy access to loans will drive the growth of the global agricultural equipment financing market

      2. 4.4.2 Increased usage of modern technologies and growing demand for high quality of food & agricultural production

    5. 4.5 Value Chain / Supply Chain Analysis

    6. 4.6 Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Insights into technological developments and advancements in agricultural industry


    1. 5.1 By Type of Finance

      1. 5.1.1 Lease

      2. 5.1.2 Loan

      3. 5.1.3 Line of Credit

    2. 5.2 By Product

      1. 5.2.1 Tractors

      2. 5.2.2 Harvesters

      3. 5.2.3 Haying Equipment

      4. 5.2.4 Others

    3. 5.3 By Geography

      1. 5.3.1 Asia-Pacific

      2. 5.3.2 North America

      3. 5.3.3 Europe

      4. 5.3.4 South America

      5. 5.3.5 Middle East & Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Mergers & Acquisitions

    3. 6.3 Company Profiles

      1. 6.3.1 Adani Group

      2. 6.3.2 AGCO Corp.

      3. 6.3.3 Agricultural Bank Ltd.of China

      4. 6.3.4 Argo Tractors SpA

      5. 6.3.5 Barclays PLC

      6. 6.3.6 BlackRock Inc.

      7. 6.3.7 BNP Paribas SA

      8. 6.3.8 Citigroup Inc.

      9. 6.3.9 Deere and Co.

      10. 6.3.10 ICICI Bank Ltd.

      11. 6.3.11 IDFC FIRST Bank Ltd.*

    4. *List Not Exhaustive

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Agriculture Equipment Finance Industry Segmentation

The term agricultural equipment finance is used to describe the loans that banks provide to farmers so that they can purchase agricultural equipment easily. The agriculture equipment finance market is segmented by type, product and geography. By type of finance, the market is segmented into lease, loan, and line of credit. By product, the market is segmented into tractors, harvesters, haying equipment and others and By geography, the market is segmented into Asia-Pacific, North America, Europe, South America, and Middle East and Africa. The report offers market size and forecast of the agriculture equipment finance market for all the above segments in value (USD).

By Type of Finance
Line of Credit
By Product
Haying Equipment
By Geography
North America
South America
Middle East & Africa
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Agriculture Equipment Finance Market Research FAQs

The Agriculture Equipment Finance Market size is expected to reach USD 240.17 billion in 2024 and grow at a CAGR of 4.23% to reach USD 295.44 billion by 2028.

In 2024, the Agriculture Equipment Finance Market size is expected to reach USD 240.17 billion.

Adani Group, AGCO Corp., Agricultural Bank Ltd.of China, Argo Tractors SpA and Barclays PLC are the major companies operating in the Agriculture Equipment Finance Market.

In 2023, the Asia Pacific accounts for the largest market share in Agriculture Equipment Finance Market.

In 2023, the Agriculture Equipment Finance Market size was estimated at USD 230.01 billion. The report covers the Agriculture Equipment Finance Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Agriculture Equipment Finance Market size for years: 2024, 2025, 2026, 2027 and 2028.

Agriculture Equipment Finance Industry Report

Statistics for the 2024 Agriculture Equipment Finance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Agriculture Equipment Finance analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Agriculture Equipment Finance Market Size & Share Analysis - Growth Trends & Forecasts (2024 – 2029)