sales@reportocean.com (Bussiness Sales)
+18882123539 (Us - Toll Free)
+919997112116 (Rest Of World)
Refinance Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Mortgage Refinancing, Auto Loan Refinancing, Student Loan Refinancing, Personal Loan Refinancing, Business Loan Refinancing), by Lenders (Banks, NBFC's, Others), by End User (Individuals, Businesses): Global Opportunity Analysis and Industry Forecast, 2023-2032

Refinance Market Size, Share, Competitive Landscape and Trend Analysis Report...

Home / Categories / Other
Refinance Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Mortgage Refinancing, Auto Loan Refinancing, Student Loan Refinancing, Personal Loan Refinancing, Business Loan Refinancing), by Lenders (Banks, NBFC's, Others), by End User (Individuals, Businesses): Global Opportunity Analysis and Industry Forecast, 2023-2032
Refinance Market Size, Share, Competitive...
Report Code
RO13/128/1054

Publish Date
21/Feb/2024

Pages
200
PRICE
$ 4900/-
This is a single user license, allowing one specific user access to the product. The product is a PDF.
$ 5400/-
This is a 1-5 user license, allowing up to five users have access to the product. The product is a PDF.
$ 8700/-
This is an enterprise license, allowing all employees within your organization access to the product. The product is a PDF..
The global refinance market revenue was around US$ 19.9 billion in 2022 and is estimated to reach US$ 44.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.7% during the forecast period from 2023 to 2032.

Refinancing is the procedure of transforming the conditions of a preexisting credit agreement, naturally one that includes a mortgage or loan. When a company or person picks to refinance a financial obligation, they are necessarily looking to change the repayment schedule, the interest rate, and/or other contract terms in a way that aids them.

Factors Influencing Market Growth

- The growing government programs and initiatives and the rise in the adoption of digital technologies for refinancing are encouraging the growth of the global refinance market.

- The emergence of online refinance applications positively influences the growth of the refinance market.

- The lack of accessibility and awareness about refinancing services security issues, and privacy situations is hindering the growth of the global refinance market.

- The implementation of technologies in existing product lines and the untapped possibility of emerging economies are anticipated to deliver remunerative opportunities for the development of the refinance market during the forecast period.

Impact of COVID-19

The impact of the COVID-19 pandemic outbreak had a positive influence on the growth of the refinance market. As the situation restricted household incomes globally, borrowers began opting for financial services with lower interest rates to preserve money on the high-interest rates. Due to crawling economic activity, refinancing at a lower interest rate allowed the borrowers to decrease mortgage costs. The refinancing activity among high-income borrowers increased particularly compared to low-income homeowners. As a result, refinancing has grown significantly during the pandemic.

Regional Analysis

In 2022, North America dominated the refinance market in terms of revenue and is anticipated to maintain its position during the forecast period. The growth can be attributed to the presence of several prominent players in the region, like Bank of America and ALLY FINANCIAL INC, among others.

Also, Asia-Pacific is anticipated to notice significant growth during the forecast period, due to the rising urban population adopting home loans and the growing mortgage loan offerings, including refinancing across the region.

Leading Companies

The leading prominent companies profiled in the global refinance market are: -

- Wells Fargo & Company
- Bank of America Corp.
- Ally Financial Inc
- JPMorgan Chase & Co
- Rocket Companies, Inc.
- Citigroup Inc., RefiJet
- Better Holdco, Inc
- loanDepot, Inc
- Caliber Home Loans, Inc.
- Other prominent key players

Segmentation Outline

The global refinance market segmentation focuses on Type, Lenders, End User, and Region.

Segmentation based on Type

- Mortgage Refinancing
- Auto Loan Refinancing
- Student Loan Refinancing
- Personal Loan Refinancing
- Business Loan Refinancing

Segmentation based on Lenders

- Banks
- NBFC's
- Others

Segmentation based on End User

- Individuals
- Businesses

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

OUR CLIENTS

500 N Michigan Ave, Suite 600, Chicago, Illinois 60611, UNITED STATES
+18882123539
sales@reportocean.com