PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1794778
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1794778
Global Sukuk Market to Reach US$2.6 Billion by 2030
The global market for Sukuk estimated at US$1.2 Billion in the year 2024, is expected to reach US$2.6 Billion by 2030, growing at a CAGR of 13.2% over the analysis period 2024-2030. Murabahah Sukuk, one of the segments analyzed in the report, is expected to record a 13.2% CAGR and reach US$792.2 Million by the end of the analysis period. Growth in the Salam Sukuk segment is estimated at 10.7% CAGR over the analysis period.
The U.S. Market is Estimated at US$320.7 Million While China is Forecast to Grow at 12.4% CAGR
The Sukuk market in the U.S. is estimated at US$320.7 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$399.8 Million by the year 2030 trailing a CAGR of 12.4% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 12.2% and 11.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.7% CAGR.
Global Sukuk Market - Key Trends & Drivers Summarized
What’s Elevating Sukuk in Global Islamic Finance?
Sukuk-Sharia-compliant investment certificates-provide investors illiquid asset-based returns while avoiding interest (riba). Structured around leasing, profit-sharing, or asset transfer models, sukuk occupy a unique niche in Islamic and global bond markets. They’re used to finance infrastructure, real estate, energy, and sovereign initiatives in Muslim-majority countries and now beyond. Governments in Southeast Asia and the GCC, plus global supranationals, increasingly rely on sukuk to attract ethical capital and diversify funding sources.
Are Structuring Innovations and International Growth Emerging?
Yes. Innovations include Green Sukuk for ESG-aligned projects, Sustainability Sukuk to fund social programs, hybrid aircraft lease structures, and cross-border dual-currency issuances. Regulatory harmonization efforts are easing issuance and secondary market liquidity-supported by platforms in Malaysia, Dubai, and London. Furthermore, consultation with legal bodies (AAOIFI, IFSB) helps align structures to Sharia and global securities standards, attracting mainstream pension and sovereign wealth investors.
Why Are Issuers and Investors Turning to Sukuk?
Issuers benefit from tapping global Islamic capital, improving funding diversification, and gaining public trust through asset-backed instruments. For investors, sukuk offer yield returns, Sharia compliance, and support projects with tangible assets. Central banks and investors across Asia, Africa, and Europe seek sukuk to manage capital efficiency and meet Islamic investor mandates.
What’s Powering the Growth in the Sukuk Market?
The growth in the sukuk market is fuelled by several factors related to infrastructure needs, investor diversification, and ESG alignment. Massive investment in transportation, utilities, and housing is drawing capital via infrastructure sukuk. Rising demand for Sharia-compliant instruments among Gulf and Southeast Asian investors supports product innovation. ESG bond strategies are integrating sukuk into green portfolios. Financial hubs are expanding regulatory frameworks to encourage issuance. Lastly, sukuk's resilience during global volatility makes it a strategic tool for central banks and development agencies.
SCOPE OF STUDY:
The report analyzes the Sukuk market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Sukuk Type (Murabahah Sukuk, Salam Sukuk, Istisna Sukuk, Ijarah Sukuk, Musharakah Sukuk, Mudarabah Sukuk, Other Sukuk Types); Currency (Turkish Lira Currency, Indonesian Rupiah Currency, Saudi Riyal Currency, Kuwaiti Dinar Currency, Other Currencies); Issuer Type (Sovereign Issuer, Corporate Issuer, Financial Institutions Issuer, Quasi-Sovereign Issuer, Other Issuer Types)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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