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.

Years considered for this report:

Historical Years : 2014-2017

Base Year : 2018

Estimated Year : 2019

Forecast Period : 2020-2024

Objective of the Study:

  • 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 Finance Market.
  • 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.

 

Key Target Audience:

  • Consumer Finance Companies
  • Banking Sectors
  • End users
  • Industry associations and experts
  • Research organizations and consulting companies.
  • 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.

Report Scope:

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
      • Others
  • Market, By Region:
    • North Region
    • South Region
    • West Region
    • East Region

 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Consumer Finance Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according the company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]

1.    Consumer Finance: An Introduction & Classification

2.    Research Methodology

3.    Executive Summary

4.    Voice of Customers/End User Analysis

4.1.  Customer Savings Propensity

4.2.  Preference of Type of Consumer Finance

4.3.  Willingness to Mortgage

4.4.  Awareness of Consumer Finance Providers

4.5.  Awareness of the Interest Rates

4.6.  Factors Influencing the Decision

4.7.  Challenges-faced/Unmet needs

5.    India Consumer Finance Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type (Secured Consumer Finance and Unsecured Consumer Finance)

5.2.2.     By Company

5.2.3.     By Region

5.3.  Market Attractiveness Index (By Type & By Region)

6.    India Secured Consumer Finance Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Product Type

6.2.1.1.         India Collateral Loan Market Size

6.2.1.2.         India Housing Loan Market Size

6.2.1.3.         India Auto Loan Market Size

6.2.2.     By Company

6.2.3.     By Region

6.3.  Market Attractiveness Index (By Product Type)

7.    India Unsecured Consumer Finance Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Product Type

7.2.1.1.         India Personal Loan Market Size

7.2.1.2.         India Home Improvement Loan Market Size

7.2.1.3.         India Credit Card Market Size

7.2.1.4.         India Consumer Durable Finance Market Size

7.2.1.5.         India Education Loan Market Size

7.2.1.6.         Other Unsecured Consumer Finance Market Size

7.2.2.     By Company

7.2.3.     By Region

7.3.  Market Attractiveness Index (By Product Type)

8.    SWOT Analysis

9.    Market Dynamics

9.1.  Drivers

9.2.  Challenges

10.  Market Trends & Developments

11.  India Economic Profile

12.  Policy & Regulatory (including Government interventions; initiatives; and other regulatory aspects)

13.  Competitive Landscape

14. Strategic Recommendations