Europe Automotive Finance Market Size & Outlook, 2023-2030
Europe automotive finance market, 2017-2030 (US$B)
Related Markets
Europe automotive finance market highlights
- The Europe automotive finance market generated a revenue of USD 108.8 billion in 2023.
- The market is expected to grow at a CAGR of 7.1% from 2024 to 2030.
- In terms of segment, banks was the largest revenue generating provider type in 2023.
- OEMs is the most lucrative provider type segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 108.8 billion |
| Market revenue in 2030 | USD 175.4 billion |
| Growth rate | 7.1% (CAGR from 2023 to 2030) |
| Largest segment | Banks |
| Fastest growing segment | OEMs |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Banks, OEMs, Other Financial Institutions |
| Key market players worldwide | Ally Financial Inc, Bank of America Corp, Capital One Financial Corp, JPMorgan Chase & Co, Mercedes-Benz Group AG, Ford Motor Co, General Motors Co, Hitachi Ltd, Toyota Motor Corp, Volkswagen AG |
Other key industry trends
- In terms of revenue, Europe region accounted for 39.3% of the global automotive finance market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 89.8 billion by 2030.
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Automotive Finance Market Scope
Automotive Finance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe automotive finance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive finance market will help companies and investors design strategic landscapes.
Banks was the largest segment with a revenue share of 55.24% in 2023. Horizon Databook has segmented the Europe automotive finance market based on banks, oems, other financial institutions covering the revenue growth of each sub-segment from 2017 to 2030.
The European government is making efforts to improve the automotive industry sales after COVID 19, which is thereby creating the opportunity for automotive finance companies in coming years. For instance, in July 2020, the government in Germany announced the subsidy on Renault Zoe electric cars, which will enable motorists to lease the car for free.
The aim of this subsidy is to stimulate car sales after the COVID 19. The U.K. is witnessing an increase in the number of car finance in recent days. According t o the statistics provided by the Finance and Leasing Association (FLA), 91% of new cars were financed by car owners at the end of April 2019.
Spain was the second largest European new car market, just behind Italy, according to a press release from the government statistics. The country is experiencing the fastest growth rate of new registrations in Europe according to the European Automobile Manufacturers' Association (ACEA).
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Our clientele includes a mix of automotive finance market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe automotive finance market , including forecasts for subscribers. This continent databook contains high-level insights into Europe automotive finance market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Europe automotive finance market size, by country, 2017-2030 (US$B)
Europe Automotive Finance Market Outlook Share, 2023 & 2030 (US$B)
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