Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 218.88 Trillion | USD 259.48 Trillion | 2.15% | 2024 |
FrequentlyAsked Questions
Non-banking financial companies, or NBFCs, are financial institutions that offer banking services without holding a banking license. They provide a broad range of financial products but do not accept deposits, unlike traditional banks. They play a vital role in financial inclusion, particularly in rural and underserved areas, by facilitating sectors such as real estate, small businesses, and infrastructure.
The global NBFC market is projected to grow due to rising disposable income and urbanization, the growth of the digital payment ecosystem and e-commerce, and the adoption of alternative credit scoring models.
According to study, the global NBFC market size was worth around USD 218.88 trillion in 2024 and is predicted to grow to around USD 259.48 trillion by 2034.
The CAGR value of the NBFC market is expected to be approximately 2.15% from 2025 to 2034.
Asia Pacific is expected to lead the global NBFC market during the forecast period.
The key players profiled in the global NBFC market include Bajaj Finance Ltd., HDB Financial Services, Shriram Finance, LIC Housing Finance, L&T Finance Holdings, Mahindra & Mahindra Financial Services, Cholamandalam Investment and Finance Company, Muthoot Finance, Manappuram Finance, Power Finance Corporation, Tata Capital Financial Services, Indiabulls Housing Finance, Aditya Birla Finance, Clix Capital, and Piramal Capital & Housing Finance.
Major challenges limiting the growth of the NBFC market include limited access to low-cost capital and regulatory tightening. Moreover, growing default risks and liquidity emergencies have damaged investor confidence in the industry.
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