Industry Research Report

Friday, 24 September 2021

Access Control System Market Size, Recent Advancement & Scope Top Trends

"Access Control System Market 2021-2027"

The report “Access Control System Market Share, Size, Trends, Industry Analysis Report, By Type [Hardware (Card-based Readers, Biometric Readers, Multi-technology Readers, Electronic Locks, Controllers, Others), Software (Visitor Management System, Other), Services (Installation & Integration, Support & Maintenance); By End Use; By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth. The global access control system market size is expected to reach USD 15.62 billion by 2027 according to a new study by Polaris Market Research

The shift from key-based to keyless Access Control System has eliminated the stress associated with key-dependent access systems, such as keys misplacement, etc. It has, furthermore, enhanced the end-user experience, as these systems are comparatively more efficient, faster processing power, and multitude options for unlocking doors (RFID, biometric, keypad, and key, all in one access system to eliminate the dependence on one type of access system), and remote accessibility.

Owing to such features, Access Control System are now widely installed across several industries, and the market, globally, is furthermore expected to witness impelling growth during the forecast period as well. Moreover, the desired need for enhanced security, living standards, and spending capability of the population are furthermore expected to drive the market.

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Finger-vein recognition technology requires finger scanning with the use of infrared sensor and a chargeable device, which highlighting unique finger pattern in a database aiming to reduce dummy finger issues providing high security and has found mass growth in sectors like attendance tracking, border control, etc.

Owing to the increasing burglaries in residential areas has led to the high demand for enhanced access systems. Besides this, increasing adoption of smartphones is observed, globally. Henceforth, the lack of presence of competition in the remote access control system market, in response to the increasing demand for remote access security from the end-users, poses a high growth opportunity for vendors planning on investing in the same.

Use of artificial intelligence and smart applications like biometrics and card-based access control system add value to business ensuring high-level security with enormous indirect data collection pertaining to the employees. High-security doors mounted with intelligent PACs are being installed in areas like server room racks and cabinets, this is expected to drive market growth.

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Companies such as Honeywell International, Allegion, Avigilon, Bosch security, Johnson controls, 3M Cogent Inc., Accu-Time Systems Inc., Aware Inc., Bio-Key International Inc., Axis communications, Assa Abloy, United Technologies Corporation, Digital Persona Inc., IrisID Systems Inc., Morphotrak LLC, NEC Corporation, and Secugen Corporation are few key players operating in the Access Control System market.

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Alkyl polyglucoside Market Overview, Trends Forecast Analysis By Top Manufactures

The global alkyl polyglucoside market size is expected to reach USD 1,844.4 million by 2027 according to a new study by Polaris Market Research. The report “Alkyl Polyglucoside Market Share, Size, Trends, Industry Analysis Report, By Product (Coco, Lauryl, Decyl, Capryl); By Functionality (Cleansing Agent, Emulsifying Agent, Wetting Agent, Degreasing Agent, Solubilizing Agent, Hydrotope, Foaming Agent); By Application; By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Alkyl polyglucosides are non-ionic surfactants that are produced from vegetable oils. They are bio-degradable and used in a variety of applications such as cosmetics and industrial. They are typically derived from glucose and fatty alcohols. Alkyl polyglucosides are largely used to enhance foam formation in detergents. Consumer awareness is growing, wherein they need to know the ingredients present in the products, as a result, in reference to surfactants, this is an opportunity for the formulators and manufacturers to make a compelling case for themselves and the products. The sulfate-free shampoo product segment is well-established and populated by companies such as L’Oreal which evidently shows that the demand for green products is increasing.

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Key companies involved in the manufacturing of alkyl polyglucosides are largely focusing on expanding their production capacities to cater to the growing demand across the globe. In addition, alkyl polyglucosides have replaced petroleum-based surfactants in several end-use applications, thus creating gaps in the supply and demand equation. Participants involved in the production of alkyl polyglucosides are focusing on setting up production plants at strategic locations to enhance their sales output. For instance, BASF is expanded their alkyl polyglucoside production capacity by initiating two production expansion projects in Jinshan (China) and Cincinnati (Ohio).

Market participants include Croda International PLC, BASF SE, Huntsman Corporation, Dow Chemical Company, Akzo Nobel NV, SEPPIC S.A., LG Household & Health Care Ltd., Galaxy Surfactants, Pilot Chemical Company, and Shanghai Fine Chemical Co Ltd. In September 2019, BASF showcased new data and proof of concept for the alkyl polyglucosides as a natural thickening agent. These formulations would be used in the company’s body wash and shampoo segments.

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Polaris Market Research has segmented the alkyl polyglucoside market report on the basis of product, functionality, application, and region

Alkyl Polyglucoside, Product Outlook (Revenue – USD Million, 2016 – 2027)

Coco
Lauryl
Decyl
Capryl
Others

Alkyl Polyglucoside, Functionality Outlook (Revenue – USD Million, 2016 – 2027)

Cleansing Agent
Emulsifying Agent
Wetting Agent
Degreasing Agent
Solubilizing Agent
Hydrotope
Foaming Agent
Others

Alkyl Polyglucoside, Application Outlook (Revenue – USD Million, 2016 – 2027)

Homecare
Surface Cleaners
Dishwashing Detergent
Laundry Detergents
Others
Personal Care
Bath Products
Cleansers & Wipes
Oral Care
Others
Industrial & Institutional Cleaners
Agricultural Chemicals
Oil Fields
Admixtures for Cement, Concrete & Plaster
Others

Automotive Lightweight Material Market With Business Strategies And Analysis To 2028

The global automotive lightweight material market size is expected to reach USD 109.5 billion by 2027 according to a new study by Polaris Market Research. The report “Automotive Lightweight Material Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Passenger Cars, LCV, HCV); By Material Type (Metal, Polymers, Composites, Elastomers); By Application (Engine & Mechanical, Exterior & Structural, Interior, HVAC & Electrical), By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Automotive lightweight materials have low corrosion rate, high design flexibility, and high weight to strength ratio. These are the mixture of alloys and composites and common alloys used are non-ferrous metals with low density. Metal alloys are easy to forge and find utility in several applications. Growing trend for vehicle customization is expected to drive the demand for lightweight materials in automotive aftermarket.

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With improvements in materials and technology used for automotive manufacturing, the average age of vehicles has increased substantially. For instance, in Thailand, the average age of vehicles is between 5 and 7 years in 2019. As per the survey, consumers are holding previously owned cars as back up vehicles rather than scraping them. With the increasing vehicle age, there is growing need for replacement of parts and MRO.

The increasing need to improve the performance of the vehicles and optimized the fuel consumption by reducing the vehicle weight is expected to drive the demand for lightweight materials in automotive industry. Furthermore, the growing demand for composites in premium cars to improve vehicle performance and aesthetics is likely to complement demand over the forecast period.

Market participants include BASF, Covestro, Toray, Borealis, WHB Brasil, LyondellBasell, ThyssenKrupp AG, Owens Corning, Alcoa Corporation, ArcelorMittal, Stratasys Ltd., LANXESS, Aleris Corporation, POSCO, SGL Carbon, AK Steel Corporation, and Novelis, among others.

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Automotive producers are shifting their production houses or manufacturing plants in low-income countries to capitalize on growing local needs and to benefit from low capital and labor costs. Major automotive manufacturers are mostly based in Brazil, India, South Korea, China, and Mexico, and are projected to benefit from OEM and aftermarket.

Thursday, 23 September 2021

Bio-Based Epoxy Resins Market Size, Recent Advancement & Scope Top Trends

The global bio-based epoxy resins market expected to reach USD 117.0 million by 2027, according to a new study by Polaris Market Research. The report “Bio-based Epoxy Resins Market Share, Size, Trends, Industry Analysis Report, By Ingredient (Vegetable, Glycerol, Canola, Hemp, Soyabean Oil, Plant Oils, Others); By Application (Coatings, Electronics, Adhesives, Food Industry, Composites, Others); By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global bio-based epoxy resins industry is driven by strong government intent towards decreasing carbon footprint, abundant natural feedstock in the emerging nations, and innovations in the epoxy resin systems. Moreover, the growth outlook in various end-use industries also boosting the sales of bio-based epoxies.

The global bio-based epoxy resins industry is fragmented based on ingredient, application, and region. In terms of ingredient, the market for bio-based epoxy resins is segmented into vegetable, glycerol, canola, hemp, soya bean oil, plant oils, and others. The market segment is further divided into coatings, electronics, adhesives, food industry, composites, and others.

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Segment Highlights:

The plant oils segment accounted for the largest revenue share of the global bio-based epoxy resins industry owing to its wide availability as a feedstock or raw material. However, the soyabean oil market segment is expected to expand at the fastest CAGR during the forecast period.
Based on application, the electronics market segment is expected to account for a significant share in 2027. This can be attributed to the use of bio-based epoxy resins in several electronic components as they require high thermal conductivity, low cross-reactivity, and higher efficiency.
North America’s bio-based epoxy resins industry accounted for the highest share in terms of market revenue in 2019. Key market factors responsible include forward product integration by ingredient and chemicals companies. Moreover, the expertise and technical know-how by the enterprises also favoring its market growth.
The major bio-based epoxy resins industry players include Entropy Resins (acquired by Gougeon Brothers Inc.), Specific Polymers, Wessex Resins, and Stahl Holdings B.V. These companies together account for a significant market share.

List of Key Players

Kukdo Chemical
Bitrez Ltd
Sicomin Epoxy Systems
Huntsman Corporation
Entropy Resins (acquired by Gougeon Brothers Inc.)
ALPAS
Chang Chun Group
Nagase ChemteX Corporation
LEUNAHarze GmbH
Spolchemie
Specific Polymers
Stahl Holdings B.V.
Wessex Resins
Others

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Polaris Market Research has segmented the bio-based epoxy resins market report on the basis of ingredient, application, and region:

Bio-based Epoxy Resins, Ingredient Outlook (Revenue – USD Million, 2016 – 2027)

Vegetable
Glycerol
Canola
Hemp
Soyabean Oil
Plant Oils
Others

Bio-based Epoxy Resins, Application Outlook (Revenue – USD Million, 2016 – 2027)

Coatings
Electronics
Adhesives
Food Industry
Composites
Others

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Architectural Coatings Market Overview, Trends Forecast Analysis By Top Manufactures

The global architectural coatings market size is expected to reach USD 99.03 billion by 2027 according to a new study by Polaris Market Research. The report “Architectural Coatings Market Share, Size, Trends, Industry Analysis Report, By Resin Type (Acrylics, Alkyds, Epoxy, Urethanes, Vinyl, Others); By Technology (Water-borne, Solvent-borne, Powder); By Application (Residential, Non-Residential); By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The demand for architectural coatings is expected to witness growth on account of increasing demand in the residential and non-residential sectors. In addition, technological advancement in the field of coatings and development of green products is expected to drive the demand for architectural coatings across the globe. Furthermore, increasing construction projects in Asia Pacific countries such as China and India are likely to complement market growth.

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Several traditional solvent-based architectural coatings owing to presence of high levels of Volatile Organic Compounds (VOCs) are losing popularity in the coatings industry. On account of the wide range of advantages of solvent-based coatings such as liquefying properties, increased evaporation rates, and reduced drying time, solvent-based coatings are being used in a variety of industrial applications. Water-borne coatings are gaining popularity on account of eco-friendly nature of the coatings.

Increasing levels of emission of Hazardous Air Pollutants (HAPs) and Volatile Organic Compounds (VOCs) from conventional solvent-based coatings have raised concerns pertaining to environmental degradation. The government across the globe are restricting the usage of toxic and harmful coatings. With enactment of stricter laws and regulations to curb air pollution caused due to hazardous emissions and conventional solvent-based coatings are likely to be soon replaced by green- or bio-based solvents. In order to comply with the laws and regulations, consumers are increasingly opting for green coatings.

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Market participants such as PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Kansai Paints Co., Ltd., Asian Paints Limited, and Nippon Paint Holdings Co., Ltd., BASF SE, Masco Corporation, Jotun Group, and RPM International Inc. are some of the key players operating in the concerned market. The research scholars at the premier IIT Hyderabad are using fly ash to form water repellent structure. These hydrophobic structures can be used as anti-soiling coatings, stainless textiles, self-cleaning coatings, and anti-sticking surfaces for the antennae.

Crude Glycerine Market With Business Strategies And Analysis To 2028

The global crude glycerine market size is expected to reach USD 1.26 billion by 2028 according to a new study by Polaris Market Research. The report “Crude Glycerine Market Share, Size, Trends, Industry Analysis Report, By Glycerol Content (Less than 80%, 80% – 90%, More than 90%); By Application (Animal Feed, Wastewater Treatment, Biogas, Oleochemistry, Others); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing use of biodiesel owing to increasing environmental concerns and greenhouse emissions has resulted in increased production of crude glycerine. Growth in industrialization and rising demand from wastewater treatment drive the growth of the market for crude glycerine. Greater demand from applications such as animal feed, biogas production, and oleochemistry further stimulates the growth of the market.

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Growing demand from developing economies, technological advancement, and significant investments in research and development by leading players fuels the growth of the market. On the basis of glycerol content, the market is segmented into less than 80%, 80%-90%, and more than 90%. Increasing applications, technological advancements, and extensive research and development have increased the application of crude glycerol with varied glycerol content.

The different applications of crude glycerine include animal feed, wastewater treatment, biogas, oleochemistry, and others. The demand for animal feed has increased significantly over the past few years. Crude glycerol is used as an energy source in animal feed. The growing availability of crude glycerol from the biodiesel industry and cost availability supports the growth of this segment. Rising industrialization, technological advancements, and growing use in oleochemistry support the growth of the crude glycerine demand in the market.

The demand for crude glycerine in Asia Pacific is expected to grow at a significant rate during the forecast period. Rising industrial growth, urbanization, and growth in the demand for animal feed support market growth for crude glycerine in this region. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries. There has been increasing demand for crude glycerine from applications such as wastewater treatment, and biogas production, thereby driving the growth of the market for crude glycerine in Asia Pacific.

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Owing to technological advancements, and the greater need to cater to customer requirements, companies are collaborating in order to strengthen the market presence and gain market share. Broadening of the product portfolio is another trend that is visible in the industry. Some of the major market players in crude glycerine industry include GF Energy, Oleon NV, Cargill, Aemetis, Inc., Peter Cremer, Pasand Speciality Chemicals, Renewable Energy Group, Inc., Abengoa Bioenergia SA, Cremer Oleo GmbH & Co. KG, and STOCKMEIER Chemie GmbH & Co. KG.

Concrete Repair Mortars Market With Business Strategies And Analysis To 2028

The global concrete repair mortars market size is expected to reach USD 3.73 billion by 2028 according to a new study by Polaris Market Research. The report “Concrete Repair Mortars Market Share, Size, Trends, Industry Analysis Report, By Mortar Type (Epoxy-Based Mortar, Polymer-Modified Cementitious Mortar); By End-Use (Utility, Roads & Infrastructure, Buildings); By Method of Application (Spraying, Manual, Pouring); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market for concrete repair mortars is expected to increase during the forecast period owing to rising urbanization, growing population, and development of public infrastructure. Increasing environmental concerns along with rising investments in the maintenance of aging infrastructure would further support the market growth. Increasing development of transportation and road networks, and growth in the construction industry, especially in emerging economies of Asia Pacific, supplement the market growth for concrete repair mortars.

The different types of concrete repair mortars include epoxy-based, polymer-modified cementitious, and others. Polymer-modified cementitious segment dominated the global market for concrete repair mortars in 2020. Apart from its cost efficiency and ease of use, polymer-modified cementitious material also offers high tensile and flexural strength, greater abrasion resistance, superior adhesion, and high chemical resistance. Increasing environmental concerns and growing infrastructure development has increased the demand for polymer-modified cementitious materials worldwide.

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The end-uses of concrete repair mortars include utility, roads and infrastructure, buildings, and others. There has been an increasing demand for concrete repair mortars from the roads & infrastructure sector. Governments, especially in emerging economies, are investing significantly in the development of roads, highways, and bridges.

Rising population, increasing urbanization, growing construction industry, and several public-private partnerships are driving the growth of this segment. The development of improved transportation networks, a growing number of road accidents, increasing road safety concerns, and the rising need to streamline traffic networks are some factors attributing to the growth of this segment.

On the basis of the method of application, the market is segmented into spraying, manual, pouring, and others. The demand for manual applications is expected to increase during the forecast period. Hand troweling or manual application is a common method used for repairing concrete. It is easy to use and works well for vertical, overhead, and horizontal concrete surfaces. It is widely used for shallow surface repairs and does not require significant equipment.

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Economic development in countries of Asia-Pacific coupled with growth in the construction industry, increasing population, rising disposable income, and increasing urbanization are expected to contribute towards market growth in the region. Owing to technological advancements, companies are providing technologically advanced products in order to retain existing customers and strengthen their market presence. Broadening of the product portfolio is another trend that is visible in the industry.

Some of the major market participants operating in the industry include Fosroc International Ltd., Adhesive Technology Corporation, Ardex Group, Saint-Gobain Weber S.A., Baumit, Sika AG, Remmers Baustofftechnik GmhH, Bostik, Mapei S.P.A, Pidilite Industries Ltd, Flexcrete Technologies Ltd., BASF SE, and The Euclid Chemical Co.

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Barrier Systems Market Size, Recent Advancement & Scope Top Trends

The global barrier systems market size is expected to reach USD 29.54 billion by 2028 according to a new study by Polaris Market Research. The report “Barrier Systems Market Share, Size, Trends, Industry Analysis Report, By Operation (Passive, Active); By Technology (Token Reader Technology, Biometric Systems, Turnstile, Perimeter Security Systems & Alarms); By Type (Flexible, Semi-Rigid, Rigid); By Access Control; By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing investments in infrastructure development coupled with growth in the automotive sector drive the growth of the market. Increasing occurrences of road accidents have encouraged governments to develop road networks and install barrier technologies for efficient traffic management and improved road safety. The significant growth in transportation sectors and growing applications in the commercial and industrial sectors have resulted in the growth of the market.

The demand for active products is expected to increase during the forecast period. Active products are manually, or mechanically operated systems equipped with movable parts for the passage of traffic. Active products offer protection by securing an environment and permitting movement only when required. Active systems such as drop arms, slide gates, vertical lift, wedge, and swing gates are installed at critical vehicle access control points or other entry locations to prevent unauthorized access.

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On the basis of type, the market is segmented into flexible, semi-rigid, and rigid. Flexible barrier systems consist of several wire cables supported by steel posts. The ropes are responsible for the guidance of vehicles along the barrier while the posts slow down the vehicles by absorbing their kinetic energy. These systems are designed to minimize the impact of crashes by smoothly redirecting the vehicles.

The demand for biometric-based barrier products is expected to increase during the forecast period. Biometric-based products can provide high identification accuracy and a superior level of security. Biometric-based barrier systems offer advantages such as time efficiency, ease of use, harder to falsify, cost efficiency, reliability, and privacy. Biometric-based barrier products are increasingly being used in banks and financial institutions, government organizations, and other areas requiring a high level of security.

Crash barrier products accounted for a major share of the global market in 2020. These products are installed for enhanced safety on roads and highways to prevent accidents and the impact associated with them. Governments across the globe are investing in safer road infrastructure and integrating advanced technologies to redirect vehicles and decrease the severity of vehicle impacts.

The transportation segment is expected to grow at a significant rate during the forecast period. An increasing number of road accidents, a greater need to manage traffic, and enhance commuter experience are some factors attributing to the market growth. The products offer control access to transportation infrastructures such as tunnels, bridges, and roadways and also enable control of gates and others remotely.

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These products are developed to prevent the crashing of out-of-control vehicles and reduce crash severity. The increasing penetration of passenger vehicles, rising investments in the development of transport infrastructure, the introduction of stringent road safety regulations, and the development of smart cities are expected to fuel the market growth during the forecast period.

The demand for the product in Asia Pacific is expected to significantly increase during the forecast period. Growing penetration of vehicles, rising occurrence of accidents, and greater need for efficient traffic management drive the market growth in the region. Significant investments in infrastructure development and growth in the construction and real estate sectors have increased the adoption of the product. Rising demand from commercial and industrial sectors is expected to provide growth opportunities during the forecast period.

Vendors in the global market are expanding their geographical presence and product portfolios to strengthen their presence. The developing nations of Asia-Pacific would provide significant growth opportunities in the market. Some of the major market participants include Hill & Smith Holdings PLC, Trinity Industries, Inc., Bekaert SA, Delta Scientific Corporation, A-Safe, ATG Access Ltd, BBS Barriers, Tata Steel Limited, Automatic Systems, Inc., Avon Barrier, Valmont Industries, Inc., Lindsay Corporation, and FutureNet Group.

Automotive Finance Market With Business Strategies And Analysis To 2028

The report “Automotive Finance Market Share, Size, Trends, Industry Analysis Report, By Type (Indirect, Direct); By Service Type (New Vehicles, Used Vehicles, Others); By Vehicle Type (Passenger Vehicles, Commercial Vehicles); By Purpose (Leasing, Loan, Others); By Provider; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.The global automotive finance market size is expected to reach USD 392.78 billion by 2028 according to a new study by Polaris Market Research.

The increasing penetration of passenger vehicles, rising modernization of vehicles, and development of autonomous vehicles are some factors expected to drive the market growth during the forecast period. Governments across the world are collaborating with automotive lenders to promote the adoption of electric vehicles.

The lenders are adopting technologies such as data analytics, cloud computing, artificial intelligence, and machine learning to offer timely services to customers and improve the overall experience. Integration of these technologies enables lenders to expand business operations and offer personalized offers by analyzing external databases, internal data, credit bureaus, social media, and online searches.

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The different types of automotive finance include indirect finance and direct finance. In 2019, the direct automotive finance segment accounted for the highest market share. However, the demand for indirect automotive finance is expected to increase during the forecast period. Indirect automotive finance is offered by the vehicle dealer through auto finance companies, local banks, and the auto manufacturer’s captive car fund company. Indirect automotive finance provides access to a wide network of lenders for consumers in varied credit situations.

On the basis of service type, the market is segmented into new vehicles and used vehicles. Automotive loan for new vehicles includes longer tenure owing to lower risks and manufacturer guarantee. The higher price of new vehicles and reduced risk of new vehicles result in disbursal of the higher loan amount at a lower interest rate. The down payment and EMI payments for new vehicles are lower as compared to used vehicles.

On the basis of vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and others. There has been significant demand for automotive finance from the commercial vehicles segment owing to the high cost associated with them. The rising need to increase efficiency and reduce maintenance costs of transportation of commercial goods has significantly increased the demand for commercial vehicles, supporting the growth of this segment. Special initiatives are taken by governments in the form of subsidies, and special schemes for users of commercial electric vehicles also supplement the growth of this segment.

The market is segmented into banks, OEMs, financial institutions, credit unions, and others based on providers. In 2019, the banks segment accounted for the highest market share owing to benefits such as long repayment tenure, low-interest rate, and quick disbursement. Banks across the works are collaborating with Governments to promote the adoption of electric vehicles.

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Countries such as China, India, France, and the U.S. have introduced several incentives and subsidies to encourage the use of electric vehicles. Several banks such as Bank of America have demonstrated their support to acceptance of alternative fuel vehicles by joining the US Department of Energy’s Workplace Charging program.

On the basis of purpose, the market is segmented into leasing, loan, and others. In 2020, the loan segment dominated the global market. However, the demand for leasing is expected to increase during the forecast period. Automotive loan assists consumers in the purchase of a vehicle, while leasing involves payments allowing car possession for a pre-determined amount of time. Some benefits offered by leasing include lower monthly payments, reduced repair expenses, no loan approval, and easy return after the expiry of the lease term.

The demand from Asia Pacific is high owing to increase demand for passenger vehicles, rising disposable income, and modernization of vehicles. Growing concerns regarding air pollution and the increasing need for fuel-efficient vehicles have increased the number of electric cars in countries such as China, the U.S., India, and Japan, driving the growth of the market. The governments in the region have taken various initiatives in the form of subsidies and incentives to increase the acceptance of electric vehicles, thereby increasing the need for automotive finance.

Vendors in the global market are expanding their geographical presence and product portfolios to strengthen their presence. The developing nations of Asia Pacific would provide significant growth opportunities during the forecast period. Some of the major market participants in the global market include GM Financial Inc., Toyota Financial Services, Daimler Financial Services, Ford Motor, and Standard Bank Group Ltd.

Polaris Market research has segmented the automotive finance market report on the basis of type, service type, vehicle type, provider, purpose, and region:

Automotive Finance, Type Outlook (Revenue, USD Million, 2016 – 2028)

Indirect
Direct

Automotive Finance, Service Type Outlook (Revenue, USD Million, 2016 – 2028)

New Vehicles
Used Vehicles

Automotive Finance, Vehicle Type Outlook (Revenue, USD Million, 2016 – 2028)

Passenger Vehicles
Commercial Vehicles
Others

Automotive Finance, Provider Outlook (Revenue, USD Million, 2016 – 2028)

Banks
OEMs
Financial Institutions
Credit Unions
Others

Automotive Finance, Purpose Outlook (Revenue, USD Million, 2016 – 2028)

Leasing
Loan
Others

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