Finance markets

Global consumer credit markets, competition, forecasts and

Dublin, Oct. 04, 2021 (GLOBE NEWSWIRE) — The “global consumer credit market, by type (secured consumer credit, unsecured consumer credit), by type of secured consumer credit product, By Unsecured Consumer Credit Product Type, By Region, Competition, Forecast & Opportunities, 2026” report has been added to from ResearchAndMarkets.com offer.

The global consumer credit market is expected to grow at a CAGR of 5% in value to reach over $1,306.10 billion by 2026

Consumer credit refers to the decisions households make over time about saving, borrowing, and investing. The global consumer credit market is growing steadily, driven by increasing disposable incomes and strong economic growth. New entrants are rapidly expanding into this market, including major peer-to-peer lenders and pure digital players.

The consumer credit market is driven by the fact that consumer lives and financial situations are changing rapidly. No wonder, the consumer credit industry is one of the synchronized and well-developed sectors among other sectors in the world. It is due to the continuous increase in population and economic development that the production of consumer credit has experienced continuous growth.

Furthermore, easy availability of various loans such as home loans, auto loans and education loans from various public and private banks or financial services, along with fast processing of loan applications, is expected to boost the global market for Consumer credit. growth.

The global consumer credit market can be divided into type, type of secured consumer credit product, type of unsecured consumer credit product, regions and company. The global consumer credit market is segmented into two major segments: secured consumer credit and unsecured consumer credit.

Among these, the secured consumer credit market is the dominant segment compared to the unsecured consumer credit market which accounted for more than 65% of the global consumer credit market in 2020. The most popular way to borrow large sums of money is by collateral. loans. Due to driving factors such as lower interest rates, higher borrowing limits, longer repayment terms, lower financial risk for the lender, etc.

The global secured consumer credit market has been further segmented into home loans, auto loans, mortgages and others. In 2020, home loans accounted for the majority of the market share in the global consumer credit market, driven by factors such as continued increase in demand, housing affordability, interest rates affordable interest rates, etc. However, an auto loan is expected to increase over the forecast period.

On the basis of unsecured consumer credit product type, the global consumer credit market is divided into sustainable consumer finance, personal loan, credit card, home improvement loan, education loan and others. The global consumer finance industry is experiencing profitable growth due to changing lifestyles and increased spending on durable consumer goods.

Improved availability of credit information, manufacturers continuing to provide subsidies, and increasing penetration of consumer durable products are some of the factors that have contributed to the growth of consumer sustainable finance in the global market. consumer credit.

Goal of the study:

  • To analyze the historical market size growth of the global consumer credit market from 2016 to 2020.
  • Estimate and forecast the market size of Global Consumer Finance Market from 2021 to 2026 and the growth rate till 2026.
  • To classify and forecast the global consumer credit market based on type, secured consumer credit product type, unsecured consumer credit product type, region and company.
  • To identify the dominant region or segment in the global consumer credit market.
  • Identify drivers and challenges in the global consumer credit market.
  • Examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the global consumer finance market.
  • To identify and analyze the profile of major players operating in the global consumer credit market.
  • To identify the key sustainable strategies adopted by market players in the global consumer credit market.

Competitive landscape

Companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers and acquisitions and the development of new services.

Some of the major players in the global consumer credit market are

  • JPMorgan Chase & Co.
  • Citigroup, Inc.
  • Wells Fargo and company
  • BNP Paribas
  • American Express Company
  • HSBC Holdings plc
  • TD Bank, North America
  • Berkshire Hathaway Inc.
  • Bank of America Corporation
  • Industrial and Commercial Bank of China

Report Scope:

Years considered for this report:

  • Historical years: 2016-2019
  • Reference year: 2020
  • Estimated year: 2021
  • Forecast period: 2022-2026

Global consumer credit market, by type:

  • Secure consumer credit
  • Unsecured consumer credit
  • Global Secured Consumer Credit Market Size, By Product Type:
  • Home loan
  • Automatic loan
  • Mortgage
  • Others

Global Unsecured Consumer Credit Market Size, By Product Type:

  • Sustainable Consumer Finance
  • Personal loan
  • Credit card
  • Home Improvement Loan
  • Education loan
  • Others

Global consumer credit market, by region:

  • North America
  • UNITED STATES
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Middle East and Africa
  • Saudi Arabia
  • United Arab Emirates
  • South Africa
  • Kuwait

For more information about this report visit https://www.researchandmarkets.com/r/batlfq