The Canadian financial guarantees market is expected to reach
Portland, OR, August 09, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the Canadian Financial Guarantees Market was estimated at $ 1.32 billion in 2020 and should reach $ 2.19 billion by 2028, achieving a CAGR of 7.3% from 2021 to 2028. The report provides in-depth analysis of major investment pockets, top winning strategies, drivers and opportunities, market size and estimates, competitive scenario, and faltering market trends.
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The reduction of financial risks, the increase in financial guarantees in international business and technological advances in the field of financing are driving the growth of the Canadian financial guarantees market. On the other hand, the lack of credit facilities for SMEs and trade wars between countries hamper growth to some extent. However, increased import and export activities are expected to create lucrative opportunities in the industry.
- The outbreak of the pandemic created enormous uncertainty in the commercial sector, which negatively impacted the Canadian financial collateral market.
- In addition, the foreclosure across the country has financially affected several businesses, leaving room for a sharp decline in financial guarantee products.
The Canadian financial guarantees market is analyzed by product type, company size and end user. Based on product type, the documentary letters of credit segment accounted for nearly three-fifths of the total market share in 2020 and is expected to lead the way by 2028. The receivables financing segment, however, would register the CAGR fastest 10.1%. during the forecast period.
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Based on company size, the large business segment contributed almost three-fifths of the total market share in 2020 and is expected to dominate by 2028. The small business segment, on the other hand, would cite the Fastest CAGR of 8.7. % throughout the forecast period.
Based on the end user, the importer segment held the largest share in 2020, capturing 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.
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Major market players analyzed in the Canada Financial Guarantees Market report include Toronto Dominion, National Bank of Canada (National Bank of Canada), Bank of Montreal (Bank of Montreal), BNP Paribas, Export Development Canada, Bank Scotia, HSBC, CIBC, Citibank and Royal Bank of Canada. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures and others to strengthen their position in the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization towards providing high quality data and information. We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.