What Is The Scope Of The Global Financial Leasing Services Market?
Financial leasing services involve leasing assets to lessees for a specified period in exchange for periodic payments, where the lessor retains ownership while the lessee uses the asset. This arrangement includes both operating and finance leases, catering to businesses' and individuals' needs for equipment, vehicles, real estate, and other assets without requiring immediate full ownership.
Financial Leasing Services Global Market Report 2024 provides data on the global financial leasing services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The financial leasing services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Financial Leasing Services ?
The financial leasing services market has experienced rapid growth in recent years, with its value increasing from $200.03 billion in 2023 to $221.11 billion in 2024, at a CAGR of 10.5%. This expansion has been driven by factors such as economic development, tax advantages, improved asset utilization, industry-specific demands, and a heightened focus on risk management. Projections indicate that the market will continue to grow, reaching $331.22 billion in 2028 at a CAGR of 10.6%. The anticipated growth will be fueled by sustainability initiatives, investments in infrastructure, urbanization, optimization of global supply chains, and a shift toward asset-light models. Key trends include the adoption of digital technologies, expansion of fintech solutions, increased leasing by small and medium-sized enterprises, integration of circular economy principles, and greater customization.
What Factors Are Driving Growth In The Financial Leasing Services Market?
The growing number of small and medium-sized enterprises (SMEs) is expected to drive the growth of the financial leasing services market. These businesses are characterized by their limited size in terms of employees and revenue, with their rise attributed to increasing entrepreneurial activity and supportive policies that encourage innovation. Financial leasing services help SMEs acquire necessary equipment and assets with lower upfront costs and improved cash flow management. For example, in May 2024, data from the House of Commons Library showed that the number of private-sector businesses in the UK rose from 5,509 in 2022 to 5,555 in 2023, a small yet positive increase in the private sector. As a result, the growing number of SMEs is fueling the growth of financial leasing services.
Get Your Free Sample Of The Global Financial Leasing Services Market Report
What Are The Main Segments Of The Global Financial Leasing Services Market?
The financial leasing services market covered in this report is segmented –
1) By Type: Capital Lease, Operating Lease, Other Types
2) By Provider: Banks, Non-Banks
3) By Application: Transportation, Aviation, Information Technology (IT) And Telecommunication, Manufacturing, Healthcare, Construction, Other Applications
What Emerging Trends Are Influencing The Growth Of The Financial Leasing Services Market?
Several companies in the financial leasing services market are focused on creating innovative leasing options, such as fitout lease services, aimed at large and medium-sized businesses. Fitout lease services involve providing and managing leased office spaces that are fully furnished and customized to suit the specific needs of tenants. For example, in March 2021, Skootr Global Pvt. Ltd. launched Skootr FinSave, a fitout financing solution in India that enables businesses to lease fully furnished office spaces without the need for upfront capital. Key features include flexible lease terms, complete interior design, and reduced initial costs, allowing businesses to focus on their core operations while benefiting from high-quality workspaces.
What Is The Largest Region In The Financial Leasing Services Market?
North America was the largest region in the financial leasing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the financial leasing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
