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

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.

egypt-auto-finance-market

Key Segments Covered:-

Egypt Auto Finance Market

By Vehicle Type

Passenger

Commercial

Total

By Vehicle Age

New Vehicle

Used Vehicle

Total

By Institution

Banks

NBFCs

Total

By Tenure

1-3  years

3-5 years

5-7 years

Total

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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:-

Auto Finance Providers

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, 2016-2022; Future Market Size and Segmentation, 2023-2027F)

Market Opportunity and Analyst Recommendations

For more information on the research report, refer to below link:-

Egypt Auto Finance Market

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Malaysia Automotive Finance Market Outlook to 2026

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