According to research firm Technavio, increased dominance of banks, movement of assets through ABL and farmers’ special financing program in the U.S. are the top three emerging trends in the agricultural equipment finance market in the coming years.

The global agriculture equipment finance market is expected to exceed $202 billion, growing at a CAGR of almost 4% during the forecast period.

“Agricultural equipment spending is expected to grow as global exports are on the rise,” said Bharath Kanniappan, a lead analyst at Technavio for agricultural equipment research. “A large number of individual farmers are turning to equipment financing to buy equipment for their operations and growth.”