New innovative ways to finance equipment has seen the global leasing market grow by 9.4%, according to an annual report conducted by White Clarke Group.
What is the Global Leasing Report?
The Global Leasing Report – a study of the world’s top fifty leasing markets – tracks country trading environments and trends in auto and equipment finance.
The author of the report and White Clarke Group CEO, Brendan Gleeson, explained:
“The report reveals a confident industry outlook, with the top 50 countries in 2016 reporting growth in new business volume of 9.40% rising from $1,005.30 billion in 2015 to $1,099.77 billion in 2016.”
“The leasing industry has experienced significant growth and has introduced new and innovative ways to finance equipment for companies worldwide.”
China experience huge market surge
The Chinese market, second only to the US, has enjoyed significant growth in recent years, with leasing now seen as an important finance option in China’s domestic economy. According to the Survey of Equipment Finance Activity (SEFA), the Chinese leasing market is now worth $206 billion; a year-on-year increase of 61.9%.
Europe’s leasing markets continue to be dominated by Germany and the United Kingdom which between them account for 42% of Europe’s market total. The year-on-year market growth of both nations indicates strong demand for leasing within Europe. Germany registered 3.42% growth and the UK jumped 8.98%, rising to $64.3 billion and $81.77 billion respectively.
White Clarke Group’s CEO, Gleeson, pressed on 2016, sharing how the year was hugely significant with regards to market developments.
“The year 2016 has brought significant socioeconomic events, namely Brexit negotiations and tense political situations over the world. It is quite early to assess how these markets will react to these events, however the tone for 2017 figures is currently optimistic regardless of such instabilities in international economies.”