Global Auto Finance Market Is Expected to Reach $5.6 Trillion by 2031: Says AMR

Growing importance of captive automotive finance worldwide and the rise in the adoption of cryptocurrency across the automotive finance industry drive the growth of the global Auto Finance market. By vehicle type, the passenger vehicles segment held the major share in 2021. By region, LAMEA would cite the fastest CAGR by 2031.


Portland, OR, Jan. 31, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Auto Finance market was estimated at $1.9 Trillion in 2021 and is expected to hit $5.6 Trillion by 2031, registering a CAGR of 11.5% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.  

Download Free Sample Report @ https://www.alliedmarketresearch.com/request-sample/10755 

Report coverage & details: 

Forecast Period 2022–2031 
Base Year 2021 
Market Size in 2021 $1.9 Trillion 
Market Size in 2031 $5.6 Trillion 
CAGR 11.5% 
No. of Pages in Report 283 
Segments Covered Vehicle Type, Vehicle Age, Purpose, Loan Provider and Region. 
Drivers  Increase in the vehicle prices and adoption of digital technologies for automotive financing 
The emergence of online automotive finance applications 
Restraints High competition and market saturation 
The emergence of rideshare services and the surge in debts from various borrowers 
Opportunities Enactment of technologies in existing product lines and untapped potential of emerging economies 

Covid-19 scenario- 

  • The outbreak of COVID-19 is anticipated to have an adverse impact on the market. The economic uncertainty has forced car buyers to postpone their purchase of a new vehicle which is negatively impacting the growth of the market.  
  • However, as the global situation started recovering, the auto lenders are adopting digital tools to expedite the service processes, and remotely got retrieved slowly and steadily.  

    Interested to Procure the Data? Inquire Here (Get Full Insights in PDF –283+ Pages) @ 

    https://www.alliedmarketresearch.com/purchase-enquiry/10755 

    The global Auto Finance market is analyzed across type, loan provider, purpose, vehicle type, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report. 

    By vehicle type, the passenger vehicles segment held the largest share in 2021, garnering more than two-fifths of the global Auto Finance market revenue, and is projected to maintain its dominance by 2031. The commercial vehicles segment, on the other hand, would showcase the fastest CAGR of 13.8% during the forecast period. 

    By vehicle age, the new vehicle segment contributed to nearly one-fifth of the global Auto Finance market share in 2021 and is projected to rule the roost by 2031. The used vehicles segment, on the other hand, it would display the fastest CAGR of 12.5% throughout the forecast period. 

    By purpose, the loan segment accounted for the highest share in 2021, generating around half of the global Auto Finance market revenue. The leasing segment, simultaneously, would portray the fastest CAGR of 16.2% during the forecast period. The Banks, OEMs, Credit Unions segments are also analyzed through the report. 

    By region, Asia-Pacific held the major share in 2021, garnering more than two-thirds of the global Auto Finance market revenue. The LAMEA region would also showcase the fastest CAGR of 14.7% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA. 

    The key market players analyzed in the global Auto Finance market report include Ally Financials Inc., Bank of America, Capital One Financial Corporation, Chase Auto Finance, Ford Motor Company, General Motors Financial Company, Inc., Mercedes-Benz Mobility, Novuna, Toyota Financial Services and Volkswagen Finance Private Limited. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players. 

    Key benefits for stakeholders 
  • The study provides an in-depth analysis of the global auto finance market forecast along with current & future trends to explain the imminent investment pockets.  
  • Information about key drivers, restraints, & opportunities and their impact analysis on global auto finance market trends is provided in the report.  
  • The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.  
  • The auto finance market analysis from 2022 to 2031 is provided to determine the market potential.  

Auto Finance Market Key Segments: 

Vehicle Age 

  • New Vehicles 
  • Used Vehicles 

Vehicle Type 

  • Passenger Vehicles 
  • Commercial Vehicles 

Purpose 

  • Loan 
  • Leasing 

Loan Provider 

  • Banks 
  • OEMs 
  • Credit Unions 
  • Others 

By Region 

  • North America (U.S., Canada) 
  • Europe (UK, Germany, France, Spain, Italy, Rest of Europe) 
  • Asia-Pacific (China, Japan, South Korea, India, Australia, Rest of Asia-Pacific) 
  • LAMEA (Latin America, Middle East, Africa) 

Buy This Research Report – http://bit.ly/3RhSPCH 

Trending Reports in BFSI Industry (Book Now with 10% Discount + Covid-19 scenario): 

Supply Chain Finance Market to Reach $ 13.4 billion by 2031 
Sustainable Finance Market to Reach $ 22485.6 billion by 2031 
Saudi Arabia Microfinance Market to Reach $ 1.68 billion by 2031 
Car Finance Market to Reach $ 2,334.3 billion by 2027 
Trade Finance Market to Reach $6 90,212 million by 2030 
About Us 
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" 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. 
Contact: 
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com