(At a CAGR of 7.4%) Trade Finance Market to Reach US$ 90,212 Million by 2030 | Bank of America, Euler Hermes Group
(At a CAGR of 7.4%) Trade Finance Market to Reach US$ 90,212 Million by 2030 | Bank of America, Euler Hermes Group
NEW CASTLE, DELAWARE, UNITED STATES, July 26, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Trade Finance Market by Product Type (Guarantees, Standby Letters of Credit (LCs), Commercial Letters of Credit (LCs), and Others), by Provider (Trade Finance Houses, Banks, and Others), by Application (International and Domestic), and by End User (Traders, Exporters, and Importers): Global Opportunity Analysis and Industry Forecast, 2021โ2030." According to the report, the global trade finance industry was estimated to reach $90,212 million by 2030, having endorsed a value of $44,098 million in 2020, registering a CAGR of 7.4% during the forecast period.โฏ
๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/request-sample/4332
Primary Factors of Market Growth:โฏ
The global trade finance market growth is attributed to the rise in demand for enhanced safety and security in the trading environment, growth in SME adoption in developing countries, and novel trade agreements. On the other hand, the rise of the trade war and the high implementation costs limit market growth. Moreover, the utilization of blockchain technology in the realm of trade finance brings lucrative opportunities for market expansion.โฏ
The commercial letters of credit (LCs) segment to lead its trail during the forecast period-โฏ
By product type, the commercial letters of credit (LCs) segment held the major share in 2020, contributing to more than two-fifths of the global trade finance market revenue, and is anticipated to lead its trail during the forecast period. This is attributed to the growth of global trade, the varying regulations in each nation, linguistic differences, and the difficulty of personal interaction between parties. Furthermore, the guarantees segment would cite the fastest CAGR of 9.0% from 2021 to 2030.โฏ
The importers segment to maintain its leadership status throughout the forecast period-โฏ
By end user, the importers segment held the major share in 2020, establishing nearly three-fifths of the global trade finance market revenue, and is expected to maintain its leadership status throughout the forecast period. This is because of an increase in operating costs, increased competition, and additional risks such as data breaches, increased importer protection, well-publicized market abuse scandals, inappropriate regulatory implementation, and constant growth in direct trade execution. However, the traders segment would display the fastest CAGR of 15.5% during the forecast period. This is attributed to utilizing funds prior to export shipment and avoiding financial difficulties. Furthermore, trade finance enhances the supply chain effectiveness for the traders.โฏ
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/4332
Asia-Pacific garnered the major share by 2030-โฏ
By region, the Asia-Pacific region held the major share in 2020, garnering nearly two-fifths of the global trade finance market revenue, and is likely to dominate the market by 2030. The same region would also exhibit the fastest CAGR of 10.0% over the forecast period. This is because trade finance for security in trading transactions is in high demand from verticals like business premises and banks across the region.โฏ
Buy This Report (405 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3FyLLwq
Industry-Leading Players: -โฏ
Euler Hermes Groupโฏโฏ
Asian Development Bankโฏโฏ
Standard Chartered PLCโฏโฏ
Citigroup Inc.โฏโฏ
The Royal Bank of Scotland Group plcโฏโฏ
HSBC Holdings PLCโฏโฏ
Mitsubishi UFJ Financial Inc.โฏโฏ
JPMorgan Chase & Co.โฏโฏ
Bank of America Corporationโฏโฏ
BNP Paribas S.A.โฏ
The report provides a detailed assessment of these key players in the global trade finance market. These players have adopted various strategies such as new product launches, geographic expansion, partnerships, and agreements to increase their market dominance and strengthen their foothold in the industry. The report helps resolve the business performance, top market segments, advancements, and product portfolios of leading market players to emphasize the competitive landscapes.โฏโฏโฏโฏ
Key Benefits for Stakeholders
This study includes the trade finance market analysis, trade finance services market trends, and future estimations to determine the imminent investment pockets.
The report presents key drivers, restraints, and trade finance market opportunity information.
The trade finance market size is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the industry.
Porterโs five forces analysis illustrates the potency of buyers & suppliers in the trade finance market.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ฌ๐ฉ๐๐๐ข๐๐ฅ ๐ซ๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ, ๐ซ๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง@ https://www.alliedmarketresearch.com/request-for-customization/4332
Trade Finance Market Key Segments:
By Product Type:
Commercial Letters of Credit (LCs)
Standby Letters of Credit (LCs)
Guarantees
others
By Provider:
Banks
Trade Finance Houses
Others
By Application:
Domestic
International
By End User:
Traders
Importers
Exporters
By Region:
North Americaโฏ (U.S., Canada, Mexico)
Europeโฏ (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
Asia-Pacificโฏโฏ (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEAโฏ (Brazil, Turkey, Saudi Arabia, South Africa, Rest of LAMEA)
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๐๐ก๐๐ง๐ค๐ฌ ๐๐จ๐ซ ๐ซ๐๐๐๐ข๐ง๐ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐ญ๐ข๐๐ฅ๐; ๐ฒ๐จ๐ฎ ๐๐๐ง ๐๐ฅ๐ฌ๐จ ๐ ๐๐ญ ๐ข๐ง๐๐ข๐ฏ๐ข๐๐ฎ๐๐ฅ ๐๐ก๐๐ฉ๐ญ๐๐ซ-๐ฐ๐ข๐ฌ๐ ๐ฌ๐๐๐ญ๐ข๐จ๐ง๐ฌ ๐จ๐ซ ๐ซ๐๐ ๐ข๐จ๐ง-๐ฐ๐ข๐ฌ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฏ๐๐ซ๐ฌ๐ข๐จ๐ง๐ฌ ๐ฅ๐ข๐ค๐ ๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐, ๐๐๐๐๐, ๐๐ฎ๐ซ๐จ๐ฉ๐, ๐จ๐ซ ๐๐ฌ๐ข๐-๐๐๐๐ข๐๐ข๐.
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