Singapore Auto Finance Market Outlook Report 2022-2025 : Driven by Exorbitant Car Prices, Growing Digital Penetration and Evolving Vehicle Ownership Characteristics - ResearchAndMarkets.com
The "Singapore Auto Finance Market Outlook to 2025 (Edition Ii) - Driven by Exorbitant Car Prices, Growing Digital Penetration and Evolving Vehicle Ownership Characteristics Amidst Systemically Regulated Car Ownership Polices by the Government" report has been added to ResearchAndMarkets.com's offering.
The report covers various aspects including credit disbursed, trends & developments, issues & challenges faced by the industry, competition landscape and more. The Singapore Auto Finance market report concludes with projections for future of the industry including forecasted values by 2025, market segmentations, COVID - 19 impact and analysts' recommendations.
Singapore Auto Finance Market Overview and Size
The Singapore Auto Finance Market was observed to be in maturity stage during the period of 2015-2020 despite growing digital advancements to ease loan application process, emerging green car loans and introduction of finance aggregators.
This is due to the strict regulations of government in terms of maintaining the on-road vehicles. The Singapore Auto Finance Industry had shrunk at a CAGR of ~0.1% on the basis of Auto credit disbursed and slightly grown at ~1.5% basis Auto Loan Outstanding in 2015-20. The CAGR was comparatively low owing to less number of cars financed in 2020 due to COVID - 19.
Competitive Landscape of Singapore Auto Finance Market
The Auto Finance market of Singapore consists of a large number of Domestic as well as international players. However, only top few players occupy a lion's share of the market (basis credit disbursed) making the Industry highly concentrated. Major Baking Institutions involved in Auto Loans Services in Singapore include DBS Bank, Standard Chartered, OCBC, MayBank, and UOB among others.
Also, Major Non Banking Financial Institutions in the country include Hong Leong Finance, Singapura Finance, Sing Investment and Finance and more. The parameters at which the companies are competing are Interest Rate Offered, Clientele, service portfolio, Technology and more.
Singapore Auto Finance Market Future Outlook & Projections
The Singapore Auto Finance industry is expected to increase at a CAGR of ~11% basis Auto credit disbursed and ~0.4% basis Auto Loan Outstanding during 2020 to 2025. The credit disbursed is expected to rise in Singapore at higher than average CAGR owing to higher number of cars financed in the future.
The government of Singapore is working towards expansion of Green Car Sales in the country, which is expected to increase the demand of 'Green Car Loans' in the future years. New Business Models such as Shared Ownership Financing may also emerge in the country in the coming years. Lastly, Industry is expected to move towards a digital growth with the expansion of Artificial Intelligence, Machine Learning, Big Data and more to further simplify loan application process.
Singapore Auto Finance Market Segmentations
By Type of Cars Financed (Units)
By Type of Institution (Loan Outstanding) (SGD Billion)
Key Target Audience
Time Period Captured in the Report
Key Topics Covered in the Report
Key Topics Covered:
1. Executive Summary
2. Country Overview
3. Singapore Automotive Industry
4. Singapore Automotive Finance Industry
5. Singapore Automotive Finance Aggregator Market
6. Singapore Automotive Finance Competitive Analysis
7. Singapore Auto Finance Major Players Company Profiles (Banks)
8. Singapore Auto Finance Major Players Company Profiles (NBFCs)
9. Singapore Automotive Finance Market Future Analysis
10. Analyst Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/nazu1u