Sector expected to reach $400 billion by 2027 from $250 billion in 2022

Finance


Dublin, May 22, 2023 /PRNewswire/ — Global Automotive Financial Market Outlook to 2027 report added of ResearchAndMarkets.com Recruitment.

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This report offers a comprehensive analysis of the potential of the global automotive finance industry. This report provides an overview and composition of the industry and discusses the market size in terms of loan value.

Its market segmentation includes types of vehicles financed, distribution channels, tenure of new and used vehicles, types of purpose, types of commercial and passenger vehicles, geography, etc. Growth enablers and drivers. challenges and bottlenecks. Trends driving adoption trends. regulatory framework; competitive landscape including end-user analysis, industry analysis, competitive scenario, and market shares of key players; The report concludes with future market forecasts and analyst recommendations for each market segment.

Market overview:

The publisher estimates that demand for automobiles has increased significantly since the second half of the year, which has boosted the auto finance industry and is likely to continue stimulating the market during the forecast period. The global automotive finance market is valued at approximately US$250 billion in 2022 and is projected to grow to be the next largest. $400 billion It will grow by 2027 and grow at a strong CAGR from 2022 to 2027.

of Asia Pacific The region is expected to lead the auto finance market, followed by North America and Europe. This region is expected to offer several growth opportunities for the market vendors during the forecast period.

Banks are major players because they have huge pre-built databases that they use to their advantage.

The passenger car auto loan market is projected to rise with increasing spending power, increasing number of female drivers, changing customer lifestyles, increasing vehicle manufacturing levels, and expanding market for fuel efficient vehicles.

Key trends by market segment:

  • By distribution channel: In terms of distribution channel, banks hold the largest auto finance market size, and digital auto finance is being implemented to meet changing customer needs around the world. However, the OEM segment is expected to grow the fastest during the forecast period due to the availability of identical auto parts, which offer better after-sales service.

  • By type of financing: The commercial vehicle segment is expected to witness significant growth during the forecast period. Commercial vehicles are more expensive than other vehicles, so many banks and financial institutions have introduced reasonable financing schemes with simple terms. Additionally, the processing time required for commercial vehicle loan approval is shorter compared to passenger vehicles.

competitive environment
Future prospects

The global automotive finance market is expected to experience significant growth from 2022 to 2027 due to increased investment in autonomous vehicles, increasing demand for EVs, and government investment. During the forecast period, Asia Pacific is expected to grow the fastest in the regional market. Favorable government initiatives in the economy, such as: India, Japanand China Boosting the growth of the automotive industry and sustaining consumer interest is expected to create opportunities for growth in the regional market.

In addition, advanced technologies such as blockchain, AI, digital payment systems, and online mobile banking systems will become the most prominent technologies used in the financial industry to provide customers with the best car loan services. Heavy investment in the automotive industry, strong R&D programs, increasing penetration of electric vehicles and the introduction of self-driving cars are just some of the factors driving the auto finance industry forward.

Main topics covered:

1.executive summary
1.1 Overview: Global Automotive Finance Market

2. Global Automotive Finance Market Size and Segmentation, 2017-2022
2.1 Global automotive finance market ecosystem
2.2 Value chain of global automotive finance market
2.3 Market Size of Global Automotive Finance Market, 2017-2022
2.4 Global Automotive Finance Market Segmentation by Components, 2017 and 2022
2.5 Global Automotive Finance Market Segmentation by Deployment, 2017 and 2022
2.6 Global Automotive Finance Market Segmentation by Application, 2017 and 2022
2.7 Global Automotive Finance Market Functional Segmentation, 2017 and 2022
2.8 Automotive Finance Market by Region, 2022
2.9 Regional Market Growth Drivers

3. Regional Analysis of North American Automotive Finance Market

4. Regional Analysis of European Auto Finance Market

5. Regional Analysis of Asia Pacific Automotive Finance Market

6. Regional Analysis of South America Automotive Finance Market

7. Regional Analysis For MEA Automotive Finance Market

8. Competitive Analysis of Auto Finance Market
8.1 Gartner Magic Quadrant
8.2 Vendor Landscape
8.3 Inter-Comparison of Leading Automotive Finance Market Providers
8.4 Competitive Dashboard Analysis
8.5 Impact Analysis of Recent Mergers and Acquisitions
8.6 Impact Analysis of Recent Product Developments
8.7 Impact analysis of recent partnerships and collaborations

9. Company Profiles of Key Players in Automotive Finance Market

10. Industry Analysis of Automotive Finance Market

11. Future Prospects and Forecasts for the Automotive Finance Market

12. Analyst Recommendations

13. Research methods

Some of the companies mentioned in this report include:

For more information on this report, please visit https://www.researchandmarkets.com/r/9zhy6n.

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