Dublin, March 25, 2022 (GLOBE NEWSWIRE) -- The "Bank Guarantee Market by Type, Application, Enterprise Size and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
A bank guarantee is a sort of financial guarantee provided by a lender. A bank guarantee ensures that a debtor's obligations are satisfied. To put it another way, if a debtor does not pay, the bank will cover the debt. In addition, a bank guarantee allows a consumer, or debtor, to purchase products, purchase equipment, or avail a particular loan.
Moreover, the guarantee enables a firm to purchase items that it might not otherwise afford, promoting corporate growth, and encouraging entrepreneurial activity. In addition, direct guarantees, which are granted directly to the recipient, are commonly used by banks in international and local transactions.
The bank guarantees reduce the chances and financial risks for importers and exporters as in the event that a buyer fails to pay on time, the seller may rest certain that payment will be made by the bank. Moreover, it includes funding both from foreign and domestic trade flows and it decreases the seller's risk of financial fraud. These factors notably contribute toward the growth of the global bank guarantee market.
However, lack of funding for small and medium-sized businesses in emerging nations, as well as growth in trade conflicts between countries such as India and China are some of the factors that hamper the market growth.
On the contrary, digitization of bank guarantee platforms, surge in new trade agreements and development in existing contracts of trade in various countries are expected to provide lucrative opportunities for market growth in the coming years.
Key players have adopted various strategies to increase their market penetration and strengthen their position in the bank guarantee industry.
Market Dynamics
Drivers
- Bank guarantee reduces the chances of financial risks for importers and exporters
- Facilitates importers and exporters to increase cross border transactions
- Digitalization of the bank guarantee platforms
Restraints
- Lack of credit facilities for SMEs
- Trade wars between countries
Opportunities
- Rising import and export activities between countries
COVID-19 impact analysis on bank guarantee market
- Impact on bank guarantee market size
- Change in consumer trends, preferences, and budget impact, owing to COVID-19
- Framework for market challenges faced by bank guarantee solution providers
- Economic impact on bank guarantee solution providers
- Key player strategies to tackle negative impact on the industry
- Opportunity analysis for bank guarantee solution providers
The bank guarantee market analysis includes top companies that operate in the market such as
- BNP Paribas
- Citibank Inc.
- DBS Bank Ltd.
- Deutsche Bank AG
- HSBC Holdings plc
- HDFC Bank Ltd.
- ICICI bank Limited
- JPMorgan & Chase
- Royal Bank of Scotland plc
- Wells Fargo
KEY MARKET SEGMENTS
By Type
- Financial Guarantee
- Performance Guarantee
By Application
- International
- Domestic
By Enterprise Size
- Small Enterprises
- Medium-Sized Enterprises
- Large Enterprise
By End User
- Exporters
- Importer
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/k48isq
