Summary
Banks in the United States industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Banking industry involves the activities of banks and similar institutions that offer financial services such as savings, loans, mortgages, and related services to businesses and consumers. Market value represents the total assets held by banks or related institutions in a country in a year. The market share represents the total asset held by the companies in the specific year. Geographical segmentation measures the total assets held by commercial banks of a particular region.
- The US banking industry recorded assets of $23,506.7 billion in 2024, representing a compound annual growth rate (CAGR) of 5.8% between 2019 and 2024.
- The bank credit segment accounted for the industry's largest proportion in 2024, with total assets of $17,800.2 billion, equivalent to 75.7% of the industry's overall value.
- The US banking industry grew by 1.2% in 2024, primarily driven by the decline in bank lending rates, which reduces borrowing costs and encourages greater credit uptake. Lower lending rates stimulate demand for personal and business loans, leading to an expansion in the bank credit segment, which directly increases the total assets held by banks. According to Federal Reserve, the bank lending rate in the United States was reduced to 7.5% in December 2024, down from 8.5% in December 2023, facilitating broader access to credit.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the banks market in the United States
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the banks market in the United States
- Leading company profiles reveal details of key banks market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the United States banks market with five year forecasts by both value and volume
Reasons to Buy
- What was the size of the United States banks market by value in 2024?
- What will be the size of the United States banks market in 2029?
- What factors are affecting the strength of competition in the United States banks market?
- How has the market performed over the last five years?
- Who are the top competitors in the United States's banks market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What are the strategies of the leading players?
7.4. What have been the recent M&A activities?
8 Company Profiles
8.1. JPMorgan Chase & Co
8.2. Bank of America Corp
8.3. Citigroup Inc
8.4. Wells Fargo & Co
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: United States banks industry value: $ billion, 2019-24
Table 2: United States banks industry category segmentation: % share, by value, 2019-24
Table 3: United States banks industry category segmentation: $ billion, 2019-24
Table 4: United States banks industry geography segmentation: $ billion, 2024
Table 5: United States banks industry value forecast: $ billion, 2024-29
Table 6: United States banks industry share: % share, by value, 2024
Table 7: JPMorgan Chase & Co: Key Facts
Table 8: JPMorgan Chase & Co: Annual Financial Ratios
Table 9: JPMorgan Chase & Co: Key Employees
Table 10: JPMorgan Chase & Co: Key Employees Continued
Table 11: Bank of America Corp: Key Facts
Table 12: Bank of America Corp: Annual Financial Ratios
Table 13: Bank of America Corp: Key Employees
Table 14: Bank of America Corp: Key Employees Continued
Table 15: Citigroup Inc: Key Facts
Table 16: Citigroup Inc: Annual Financial Ratios
Table 17: Citigroup Inc: Key Employees
Table 18: Citigroup Inc: Key Employees Continued
Table 19: Wells Fargo & Co: Key Facts
Table 20: Wells Fargo & Co: Annual Financial Ratios
Table 21: Wells Fargo & Co: Key Employees
Table 22: Wells Fargo & Co: Key Employees Continued
Table 23: United States Size of Population (Million), 2020-24
Table 24: United States Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 25: United States GDP (Current Prices, $ Billion), 2020-24
Table 26: United States Inflation, 2020-24
Table 27: United States Consumer Price Index (Absolute), 2020-24
Table 28: United States Exchange Rate, 2019-24
List of Figures
Figure 1: United States banks industry value: $ billion, 2019-24
Figure 2: United States banks industry category segmentation: $ billion, 2019-24
Figure 3: United States banks industry geography segmentation: % share, by value, 2024
Figure 4: United States banks industry value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the banks industry in the United States, 2024
Figure 6: Drivers of buyer power in the banks industry in the United States, 2024
Figure 7: Drivers of supplier power in the banks industry in the United States, 2024
Figure 8: Factors influencing the likelihood of new entrants in the banks industry in the United States, 2024
Figure 9: Factors influencing the threat of substitutes in the banks industry in the United States, 2024
Figure 10: Drivers of degree of rivalry in the banks industry in the United States, 2024
Figure 11: United States banks industry share: % share, by value, 2024
