India Consumer Finance Market is
projected to post robust growth by 2024, owing to factors such as increasing
per capita income, high economic growth, rapid urbanisation and rise in
consumer spending power. Growing consumer preference towards the use of credit
cards owing to the associated benefits related to it such as reward points and
a host of promotional offers like movie tickets, discounts on flight bookings
etc., is likely to drive the growth of the consumer finance segment in India during
the forecast period. Additionally, the rising number of consumers opting for
Equated Monthly Instalments (EMIs), available at 0% interests or low interest
rates will further propel the India Consumer Finance Market by 2024. Moreover,
the easy availability of different loans like home loans, car loans, education
loans across a variety of public sector as well as private banks or financial
services and easy processing of loan requests is likely to have a positive
impact on the growth of the market. Demonetization also had a major positive
impact on the shift of consumers towards the use of digital transactions
however it had a moderate long-term effect on the use of plastic money.
Additionally, the ease of obtaining Consumer Durable Finance at chained large
format electronic stores like Croma and Vijay Sales that collaborate with financial
service providers like Bajaj Finserv, Tata Capital will propel the growth of
the market during the forecast period. Based on the type, the secured consumer
finance segment dominated the market in 2016, due to rising auto-loans. The Unsecured
Consumer Finance segment is expected to lead the market by 2024 owing to
increasing number of credit card users across the country.
considered for this report:
Years : 2014-2017
Year : 2018
Year : 2019
Period : 2020-2024
Objective of the
- To analyse and forecast the market size of Consumer
Finance Market, in terms of value.
- To classify and forecast India Consumer
Finance Market based on type, company and regional distribution.
- To identify drivers and challenges for India
Consumer Finance Market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in India
Consumer Finance Market.
- To conduct the pricing analysis for Consumer
- To identify and analyse the profile of leading
players involved in the India Consumer Finance Market.
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Some of the leading players in the
India Consumer Finance Market are Bajaj Capital Limited, Birla Global
Finance Limited, Housing Development Finance Corporation, ICICI Group, LIC
Finance Limited, L & T Finance Limited, Mahindra & Mahindra Financial
Services Limited, Muthoot Finance Ltd, Cholamandalam, Tata Capital Financial
Services Ltd etc.
To perform the study, TechSci Research
conducted primary as well as exhaustive secondary research. Initially, TechSci
Research prepared an exhaustive list of Consumer Finance companies and service
providers operating in India. Subsequently, TechSci Research conducted primary
research surveys, which include primary calls, email responses, etc., with the
identified companies. While interviewing, the respondents were also asked about
their major competitors. TechSci Research analysed product offerings, services and
regional presence of all major Consumer Finance companies in India.
TechSci Research calculated the market size for India
Consumer Finance market using a bottom-up technique, wherein sales value data
of different finance companies was recorded as well as forecast for the future
years. TechSci Research sourced these values from industry experts and company
representatives, and externally validated through analysing historical sales
data of consumer finance companies to arrive at the overall market size.
- Consumer Finance Companies
- Banking Sectors
- End users
- Industry associations and
- Research organizations and
- Research Institutes
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders,
end users, etc., besides allowing them in strategizing investments and
capitalizing on market opportunities.
In this report, India Consumer Finance Market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
- Market, By Type:
- Secured Consumer Finance
- Collateral Loans
- Housing Loans
- Auto Loan
- Unsecured Consumer Finance
- Personal Loan
- Home Improvement Loan
- Credit Card
- Consumer Durable Finance
- Education Loan
- Market, By Region:
Company Profiles: Detailed analysis of the major
companies present in Consumer Finance Market.
With the given market data, TechSci
Research offers customizations according the company’s specific needs. The
following customization options are available for the report:
In case you don’t find what
you are looking for, please get in touch with our custom research team at [email protected]
- Detailed analysis and profiling of additional
market players (up to five).