The global car finance market is experiencing significant growth due to an increase in the average global vehicle price, and a rise in the demand for vehicles. On the other hand, the market across Asia-Pacific cites the fastest CAGR during the forecast period.
Wilmington, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the global car finance market is predicted to achieve $2,334.3 billion by 2027, having endorsed a value of $1,290.7 billion in 2019, exhibiting a remarkable CAGR of 14.3% from 2020 to 2027. The report offers a detailed evaluation of the latest trends, profitable investment pockets, top segments, competitive scenarios, and regional analysis. The report assists market-leading players, investors, new competitors, and stakeholders in devising and taking steps to bolster their competitive edge.
Request Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/4336
(We are providing report as per your research requirement, including the Latest Industry Insight’s Evolution, Potential and COVID-19 Impact Analysis)
140 – Tables
65 – Charts
281 – Pages
Report Coverage & Details:
|Market Size in 2019||$1,290.7 Billion|
|Market Size in 2027||$2,334.3 Billion|
|No. of Pages in Report||281|
|Segments Covered||Distribution Channel, Vehicle Age, Application, Purpose, and Region|
|Drivers||An increase in the average global vehicle price|
|A rise in the demand for vehicles|
|Opportunities||Integration of technologies into existing product lines|
|The untapped potential of developing economies|
|Restraints||An increase in the utilization of rideshare services|
|Debt increases from various borrowers|
Inquiry before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/4336
The global car finance market is categorized into different segments based on distribution channel, vehicle age, application, purpose, and region. It is offered in two-dimensional and graphical form, permitting an individual or an organization to benefit from approaching the highly profitable and swiftly expanding segments.
The NFT new vehicles segment to maintain its lead position during the forecast period-
By vehicle age, the new vehicles segment held the major market share in 2019, holding more than half of the global car finance market revenue, and is projected to rule the roost by 2027. On the other hand, the used vehicle segment would exhibit the fastest CAGR of 14.6% from 2020 to 2027.
The banks segment to maintain prominent revenue growth in 2032-
By distribution channel, the banks segment dominates the highest market share in 2019, acquiring nearly two-fifths of the global car finance market revenue, and is expected to retain its lead position during the forecast period. The OEMs segment, however, would display the fastest CAGR of 15.5% from 2020 to 2027. The credit unions and others segment are also classified in the report.
Request Customization: https://www.alliedmarketresearch.com/request-for-customization/4336
Asia-Pacific to maintain its dominance throughout the forecast timeframe–
By region, the market across Asia-Pacific garnered the highest share in 2019, contributing to more than two-fifths of the global car finance market revenue, and is expected to maintain its dominance throughout the forecast period. The same region would also showcase the fastest CAGR of 15.4% from 2020 to 2027. The other provinces studied in the report are North America, LAMEA, and Europe.
The report also provides detailed information on the prominent players in the global car finance market such as Toyota Financial Services, Capital One, Volkswagen Finance Private Limited, Ally Financial Inc., General Motors Financial Company, Inc. JPMorgan Chase & Co., Daimler AG, Hitachi Capital Corporation, Bank of America Corporation, and Ford Motor Company. These leading players have adopted various strategies such as new product launches, novel technological advances, partnerships, joint ventures, and more to maintain their foothold in the market.
Buy This Report (281 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/49wmwIO
Key benefits for stakeholders
- The study provides an in-depth analysis of the global car finance market share along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the car finance market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- An extensive analysis of the key segments of the industry helps to understand the global car finance market trends.
- The quantitative analysis of the global car finance market share from 2020 to 2027 is provided to determine the market potential.
Car Finance Market Key Segments:
By Distribution Channel
- Credit Unions
By Vehicle Age
- New Vehicles
- Used Vehicles
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
Trending Reports in BFSI Industry (Book Now with 10% Discount + Covid-19 scenario):
Trade Finance Market by Product Type (Commercial Letters of Credit (LCs), Standby Letters of Credit (LCs), Guarantees, and Others), Provider (Banks, Trade Finance Houses, and Others), Application (Domestic and International), and End User (Traders, Importers, and Exporters): Global Opportunity Analysis and Industry Forecast, 2021-2030.
Supply Chain Finance Market by Offering (Export and Import Bills, Letter of Credit, Performance Bonds, Shipping Guarantees, Others), by Provider (Banks, Trade Finance House, Others), by Application (Domestic, International), by End User (Large Enterprises, Small and Medium-sized Enterprises): Global Opportunity Analysis and Industry Forecast, 2022-2031.
Auto Finance Market by Vehicle Type (Passenger Vehicles, Commercial Vehicles), by Vehicle Age (New Vehicles, Used Vehicles), by Purpose (Loan, Leasing), by Loan Provider (Banks, OEMs, Credit Unions, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.
Microfinance Market By Provider (Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions), and Others) and End User (Small Enterprises, Micro Enterprises, and Solo Entrepreneurs or Self-Employed): Global Opportunity Analysis and Industry Forecast, 2021-2030.
Embedded Finance Market by Type (Embedded Payment, Embedded Lending, Embedded Investment, Embedded Insurance), by Industry Vertical (Retail and E-Commerce, Transportation and Logistics, Healthcare, Media and Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
South Korea Car Finance Market: https://www.alliedmarketresearch.com/south-korea-car-finance-market-A15933
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
1209 Orange Street,
Corporation Trust Center,
Delaware 19801 USA.
Toll Free: +1-800-792-5285
India (Pune): +91-20-66346060