Sukuk Market 2023 - By Size, Share Analysis, Growth Trends And Forecasts To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Sukuk Global Market Report 2023 identifies rapid urbanization in Middle Eastern countries as the major driver for the Sukuk market's growth in the forecast period. Urbanization is the process of a nation's population gradually moving from rural to urban areas, with the proportion of urban residents growing faster than that of rural residents. The demand for infrastructure investment is created by urbanization, which subsequently spurs economic growth through a variety of avenues, such as lowering transaction costs and increasing productivity. In infrastructure development, sukuk is a popular and extremely effective way for governments to raise money locally and internationally through a sharia-compliant procedure without paying interest for the development of the country.

The global sukuk market size is expected to grow from $754.93 billion in 2022 to $973.25 billion in 2023 at a compound annual growth rate (CAGR) of 28.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global sukuk market size is expected to reach $1,821.75 billion in 2027 at a CAGR of 17.0%.

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Major competitors in the Sukuk market are Abu Dhabi Islamic Bank PJSC, Al Baraka Group B.S.C, Al Rajhi Bank, Banque Saudi Fransi, Dubai Islamic Bank, HSBC Holdings PLC.

A key trend in the Sukuk market includes strategic partnerships. Many companies operating in the sukuk market are undergoing partnerships to strengthen their position in the market. For instance, in March 2021, City Bank Capital Resources Limited, a Bangladesh-based investing banking company partnered with Bangladesh Export Import Company Limited (BEXIMCO), a Bangladeshi multinational conglomerate holding company, to jointly issue Tk 3,000 core worth of sukuk Al Istisna bonds that are consistent with Islamic law. This partnership aims to purpose the construction of the solar projects of Teesta Solar Limited and Korotoa Solar Limited.

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The Sukuk market is segmented -

• By Sukuk Type: Murabahah Sukuk, Salam Sukuk, Istisna Sukuk, Ijarah Sukuk, Musharakah Sukuk, Mudarabah Sukuk, Hybrid Sukuk, Other Sukuk Types
• By Currency: Turkish Lira, Indonesian Rupiah, Saudi Riyal, Kuwaiti Dinar, Malaysian Ringgit, United States Dollar, Other Currencies
• By Issuer Type: Sovereign, Corporate, Financial Institutions, Quasi-Sovereign, Other Issuer Types
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Saudi-Arabia was the largest region in the Sukuk market.

The Business Research Company's "Global Sukuk Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Sukuk Market Include:

1. Executive Summary
2. Sukuk Market Characteristics
3. Sukuk Market Trends And Strategies
4. Sukuk Market - Macro Economic Scenario
5. Sukuk Market Size And Growth
……………………………….
26. Africa Sukuk Market
27. Sukuk Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sukuk Market
29. Sukuk Market Future Outlook and Potential Analysis
30. Appendix

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