New Financial Services research report from BRICdata is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/19/2012 -- The Indian consumer finance market recorded a compound annual growth rate (CAGR) of 16.4% during the review period (2007-2011). It is projected to retain a high CAGR of 14.55% over the forecast period (2012-2016). The strong growth will be driven by the country's improving macro- and micro-economic fundamentals, and by the increasing domestic demand for consumer finance services. India's rising employment levels are expected to generate more demand for consumer finance in the country. The unemployment rate in India is projected to decrease from 6.6% in 2011 to 6.3% in 2016. The improving employment conditions in the country will encourage Indians to increase their personal consumption expenditure, which will create a higher demand for consumer finance products, such as personal loans, education loans, auto loans and mortgage loans. The country's sustained economic growth, rising disposable income levels, affordable interest rates and tax incentives are the main macroeconomic growth drivers that are encouraging the housing loan category's development in India. Although the Indian consumer finance market registered significant growth during the review period, the market's growth decelerated towards the end of the review period as a result of the country's microfinance crisis caused by India's strict regulatory environment. The Indian banking industry is well regulated and contains 167 commercial banks. The banks operating in India include a mixture of both domestic and foreign businesses. Despite the fragmented nature of the Indian banking industry, the competitive landscape for the Indian consumer finance market varies significantly depending on each product category.
View Full Report Details and Table of Contents
- Housing loans was the largest category in the Indian consumer finance market, and it generated approximately 56.9% of the total market value in 2011.
- The gold loans category was the fastest growing in the Indian consumer finance market during the review period. It recorded an impressive CAGR of 43.93% during the review period.
- The education loans category recorded the second-fastest CAGR of 30.20% during the review period. This growth was primarily due to the rapid expansion of India's education services, as well as the rising number of students choosing to travel aboard to access higher education.
- The auto finance category recorded a strong CAGR of 18.85% during the review period
- The Indian credit card loans category is in the initial stages of development. It recorded a CAGR of -0.28% during the review period. This was mainly due to the country's high defaults rate and the availability of other popular credit products in the Indian consumer finance market.
Companies Mentioned in this Report: State Bank of India, Housing Development Finance Corp. Ltd (HDFC), ICICI Bank Ltd, Kotak Mahindra Bank, AXIS Bank Limited, DBS Bank Ltd, Deutsche Bank, Standard Chartered Bank, HSBC
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- Emerging Opportunities in the Latin America Consumer Finance Market: Market Size, Strategies, Products and Competitive Landscape
- Emerging Opportunities in the Indian Wealth Management Industry: Market Size, Strategies, Products and Competitive Landscape
- Emerging Opportunities in the Indian Prepaid Card Market: Market Size, Strategies, Products and Competitive Landscape
- Emerging Opportunities in the Non Resident Indian Wealth Management Industry: Market Size, Strategies, Products and Competitive Landscape: Market Profile
- Life Insurance in India, Key Trends and Opportunities to 2015
- Industry Dynamics and Competitive Landscape in the Indian Life Insurance Industry to 2016: Market Profile
- Industry Dynamics and Competitive Landscape in the Indian Non-Life Insurance Industry to 2016: Market Profile
- Life Insurance in BRIC Countries: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015
- The Indian Packaging Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015
- The Indian Mining Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015