Repossession Services in the US - Industry Market Research Report

Repossession Services in the US - Industry Market Research Report

  • March 2020 •
  • 30 pages •
  • Report ID: 5103773 •
  • Format: PDF
Take back: More loans will likely lead to increased demand for industry services

Abstract

Repossession Services
Operators in the Repossession Services industry repossess properties including automobiles, boats, furnishings and equipment on behalf of creditors when individuals fail to keep up with their loan payments. Before the five years to 2018, industry revenue was falling as demand for repossessions normalized following a surge caused by the recession. However, over the five years to 2018, demand began to stabilize as the economy expanded. As disposable income levels have risen, consumers have begun to increase their purchases while creditors have expanded financing. As a result, loan volumes have increased and the overall number of delinquencies has climbed, though the share of delinquent loans has contracted. Over the five years to 2023, industry revenue is forecast to increase. However, rising interest rates and cautious consumers will temper loan volume growth.

This industry repossesses tangible assets (e.g. automobiles, boats, equipment, planes, furniture and appliances) for a creditor as a result of delinquent debt by an individual.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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