Portland,OR, Aug. 09, 2021 (GLOBE NEWSWIRE) -- 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.
COVID-19 Scenario:
- The outbreak of the pandemic led to huge uncertainty in the trade sector, there by impacting the Canada financial guarantee market negatively.
- Also, the lockdown across the country has affected several businesses financially, giving way to a steep decline for financial guarantee products.
The Canada financial guarantee market is analyzed across product type, enterprise size, and end user. Based on product type, the documentary letter of credit segment accounted for nearly three-fifths of the total market share in 2020, and is anticipated to lead the trail by 2028. The receivables financing segment, however, would register the fastest CAGR of 10.1% during the forecast period.
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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.
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The leading market players analyzed in the Canada financial guarantee market report include Toronto Dominion, Banque Nationale du Canada (National Bank of Canada), Banque de Montreal (Bank of Montreal), BNP Paribas, Export Development Canada, Scotia Bank, HSBC, CIBC, Citibank, and Royal Bank of Canada. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
