The financial leasing services market size has grown rapidly in recent years, increasing from $200.03 billion in 2023 to $221.11 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. This growth during the historic period can be attributed to factors such as economic growth, tax benefits, asset utilization efficiency, industry-specific demand, and an increased focus on risk management. Looking ahead, the market size for financial leasing services is expected to continue its rapid growth, reaching $331.22 billion in 2028 at a CAGR of 10.6%. This forecasted growth is driven by sustainability and green initiatives, increased infrastructure investment, urbanization and the development of smart cities, global supply chain optimization, and a rising interest in asset-light models. Major trends expected during this period include digital transformation and automation, expansion of fintech solutions, growth in leasing among small and medium-sized enterprises, the emergence of circular economy practices, and the customization and personalization of services.
Global Financial Leasing Services Market Key Driver
The growing number of small and medium-sized enterprises (SMEs) is anticipated to drive the expansion of the financial leasing services market in the near future. SMEs, which are defined by specific employee and revenue thresholds, are growing due to a surge in entrepreneurial activity and supportive policies that promote business creation and innovation. Financial leasing services offer SMEs the ability to acquire essential equipment and assets with reduced upfront costs, thus improving cash flow management. For example, according to the House of Commons Library, the number of private-sector businesses in the UK grew from 5,509 in 2022 to 5,555 in 2023, a slight increase that reflects the positive trend of private sector expansion. This growing SME base will continue driving the financial leasing services market through 2023, into 2024, and is expected to further accelerate by 2028.
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Global Financial Leasing Services Market Segments
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
By Geography:The regions covered in the financial leasing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
Major Financial Leasing Services Industry Players
JPMorgan Chase & Co, Bank of America Corporation, Banco Santander S.A, Wells Fargo & Company, Siemens AG, Citigroup Inc, International Business Machines Corporation, Royal Bank Of Canada, HSBC Holdings plc, Barclays plc, Société Générale Equipment Finance, U.S. Bancorp, Nordea Bank AB, KBC Lease, Bank of Beijing Co. Ltd., ABN AMRO Bank N.V., First American Equipment Finance, Macquarie Equipment Finance LLC, General Electric Capital Corporation, De Lage Landen International B.V., Deutsche Leasing AG, Crédit Agricole Leasing & Factoring, Hannover Leasing GmbH & Co. KG, BNP Paribas Lease Group S.A.
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Financial Leasing Services Market Overview
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 2023 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.
