Egypt Auto Finance Market is expected to grow at a CAGR of ~11% between 2023F – 2027F owning to digital financing and introduction of smart contracts: Ken Research
The report covers Egypt Vehicle Loan Sector Outlook, Number of Vehicles Financed Egypt, Egypt Hire Purchase Loans Market, Car Loan Disbursed Egypt, Auto Loan Portfolio Egypt, Car Parcs in Egypt, Used vehicle Financed Egypt, Auto Loan NPAs in Egypt, Car Loan Outstanding Egypt, Vehicle Loan interest rate, Vehicle refinanced market, passenger vehicle loan market, commercial vehicle loan market, New car financed portfolio, online auto loan finance market, motorcycle finance sector, Challenges auto finance, Leading auto loan service providers, auto finance lenders, Competitors in Egypt car finance market, Major players in Egypt vehicle finance market, e-platforms players Egypt auto finance market, Bank auto loan interest rates Egypt, top NBFCs auto loan providers.
Gurugram, India, Dec. 14, 2022 (GLOBE NEWSWIRE) — Egypt Automotive Finance Market is in the growing stage, being driven digital advancement, smart contracts, digital Financing and positive covid-19 impacts and government policies. There are several players in the Egypt auto finance market some of which are QNB Alahli Leasing, Global Corp, Banque Misr, ADIB, AI Bank, Al Baraka etc.
- Financial Penetration is anticipated to increase, while share of down payment will continue to decline backed by improvement in financial access and better offerings by financial institutions
- Several fin-tech start-ups are also projected to enter the landscape which could pose a threat to conventional finance companies and banks. These start-ups would commonly work towards developing products to develop the digitalization of the banking sector.
- Banks and Captives are focused to develop their share in the used cars segment; also new NBFCs are expected to enter the competitive landscape to cater to the growing requirement of vehicle financing in the country.
Changing consumer preference: The demand for loans for private vehicles is expected to be greater than the commercial vehicle segment. Buyers are showing a preference for costlier vehicles, and those seeking lower costs are costing up to second-hand ones as the segment gets more organized. This is making passenger loan segment to grow. The finance penetration of new vehicle and used vehicle is expected to increase, along with surge in share of amount financed. These factors are bound to support growth in credit disbursement.
Positive Impact of COVID 19: Market is dominated by the unorganized sector, where the scope for consumer protection is on the lower side. Unorganized dealers gain the confidence of the buyers by eliminating subjective bias about sellers (which might include particular vehicle brands & models), while simultaneously easing the overall transaction.
Introduction to Smart Contracts: “Smart contracts” is the future. This would allow more secure and faster settlement of financial market transactions. These contracts use software to enable automatic triggers that allow transactions without human intervention. The digital disruptions will make the financial services process faster, cheaper, more transparent and user-friendly. It will raise the prospects of expanding financial inclusion also.
Analysts at Ken Research in their latest publication “Egypt Auto Finance Market Outlook to 2027– Driven by women drivers entering the market, digital advancements and initiatives by the Government“ by Ken Research provides a comprehensive analysis of the potential of Auto Finance Market in Egypt. The rising demand for financing of cars among the population, along with Government Initiatives, is expected to contribute to the market growth over the forecast period. The Egypt Auto Finance Market is expected to grow at a robust CAGR of 11% over the forecasted period 2023F-2027F.
Key Segments Covered:-
Egypt Auto Finance Market
By Vehicle Type (by Credit Disbursed) 2022P& 2027F:
- Passenger
- Commercial
By Vehicle Age (by Credit Disbursed) 2022P& 2027F:
- New Vehicle
- Used Vehicle
By Institution (by Credit Disbursed) 2022P& 2027F:
- Banks
- NBFCs
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By Tenure (by Credit Disbursed) 2022P& 2027F:
- 1-3 years
- 3-5 years
- 5-7 years
Key Target Audience:-
- Auto Finance Providers
- Insurance companies
- Car Manufacturers
- financial service provider
- NBFCs
- fin-tech companies
- Government Bodies & Regulating Authorities
Time Period Captured in the Report:-
- Historical Year: 2017-2022
- Base Year: 2022
- Forecast Period: 2023F– 2027F
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Companies Covered:-
- Banque Misr
- National Bank of Egypt
- Agricultural Bank of Egypt
- Industrial Development Bank
- Banque Du Caire
- The United Bank
- Bank of Alexandria
- Commercial International Bank (Egypt)
- Attijariwafa bank Egypt S.A.E.
- Societe Arabe Internationale de Banque
- Blom Bank – Egypt
- Credit Agricole Egypt S.A.E
- Emirates National Bank of Dubai S.A.E.
- Suez Canal Bank
- Qatar National Bank Alahli S.A.E.
- Arab Investment Bank
- AL Ahli Bank of Kuwait – Egypt
- First Abu Dhabi Bank – Misr
- Housing and Development Bank
- Al Baraka Bank of Egypt S.A.E.
- National Bank of Kuwait – Egypt (NBK)
- Abu Dhabi Islamic Bank – Egypt
- Abu Dhabi Commercial Bank Egypt
- Egyptian Gulf Bank
- Arab African International Bank
- HSBC Bank Egypt S.A.E.
- Arab Banking Corporation – Egypt S.A.E.
- Export Development Bank of Egypt
- Arab Bank PLC
Key Topics Covered in the Report:-
- Egypt Auto Finance Market Overview
- Ecosystem of Egypt Auto Finance Market
- Business Cycle and Genesis of Egypt Auto Finance Market
- Industry Analysis of Egypt Auto Finance Market
- SWOT Analysis of Egypt Auto Finance Market
- Key Growth Drivers in Auto Finance Market in Egypt
- Major Challenges and Bottlenecks in Egypt Auto Finance Market
- Regulatory Framework in Egypt Auto Finance Market
- Competitive Landscape in in Egypt Auto Finance Market
- Market Share of Major Auto Finance Providers in Egypt Auto Finance Market
- Detailed Analysis on Egypt Auto Finance Market (Market Size and Segmentation, 2017-2022; Future Market Size and Segmentation, 2023-2027F)
- Market Opportunity and Analyst Recommendations
For more insights on the market intelligence, refer to the link below:-
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