According to the report published by Allied Market Research, the Canada financial guarantee market was estimated at $1.32 billion in 2020 and is expected to hit $2.19 billion by 2028, registering a CAGR of 7.3% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Reduction in financial risks, rise in financial guarantee in international business, and technological advancements in the field of financing drive the growth of the Canada financial guarantee market. On the other hand, lack of credit facilities for SMEs and trade wars between countries impede the growth to some extent. However, surge in import and export activities are expected to create lucrative opportunities in the industry.
Top Impacting Factors
Financial Guarantee Facilitates International Business among Importers and Exporters
Financial guarantee facilitates cross-border transactions between importers and exporters. Importers can import goods to and from Canada by availing financial guarantors from banks and pay back later. Exporter can be rest assured that there will be no default in payment, as banks provide guarantee for the payment. Therefore, importers and exporters can increase international business and deal with number of traders for different types of goods & services for cross-border transactions. Thus, increase in cross-border business between Canada and other countries significantly contributes toward the growth of the market.
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Based on enterprise size, the large enterprises segment contributed to nearly three-fifths of the total market share in 2020, and is expected to dominate by 2028. The small-sized enterprises segment, on the other hand, would cite the fastest CAGR of 8.7% throughout the forecast period.
Based on end user, the importers segment held the major share in 2020, garnering more than half of the total market. The same segment would also cite the fastest CAGR of 7.6% from 2021 to 2028. The report also studies the exporters segment.
Key Benefits for Stakeholders
- The study provides in-depth analysis of the Canada financial guarantee market share along with current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the Canada financial guarantee market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the market.
- An extensive analysis of the key segments of the industry helps to understand the Canada financial guarantee market trends.
- The quantitative analysis of the Canada financial guarantee market forecast from 2021 to 2028 is provided to determine the market potential.
Key Market Segments
By Product Type
- Bank Guarantees
- Documentary Letter of Credit
- Standby Letter of Credit (SBLC)
- Receivables Financing
- Others
By Enterprise Size
- Small Enterprises
- Medium-sized Enterprises
- Large Enterprises
By End User
- Exporters
- Importers
Key Market Players
- Scotiabank
- Toronto Dominion
- Banque Nationale du Canada (National Bank of Canada)
- Banque de Montreal (Bank of Montreal)
- BNP Paribas
- HSBC
- Citigroup, Inc.
- CIBC
- Royal Bank of Canada
- Export Development Canada
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