The thirteenth Global Leasing Report by White Clarke Group showed 32.7% growth in leasing in Europe for the calendar year 2017.

As a result the European market share of the global leasing market grew by 1.9% in 2017, while North America’s share of the global market has declined by 3.1% due to the rapid growth of other leasing markets.

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Compilation of the report began in November 2018, and the White Clarke Group reports showed continued growth in the European sector for the first three financial quarters of last year.

The UK asset finance market was up by 5% in 2017 bringing the seventh consecutive year of growth in the UK asset finance market. Figures released by the Finance & Leasing Association (FLA) show that asset finance business in the UK hit £32.57bn in 2018, a 3% rise on 2017’s figure.

According to the report: “Brexit continues to dominate the UK political agenda. In 2017 the UK economy grew by 1.7% and forecasts for 2018 predict growth at similar levels. Due to political and economic uncertainty predictions for the economy through 2019 and 2020 are somewhat troublesome.”

In 2017, the leasing annual volume in Europe was an estimated $428.3bn (€379bn), making up a third of the worldwide share. The five largest countries in the rankings were the US, China, UK, Germany and Japan, accounting for more than 70% of world volume.

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According to the German leasing association’s quarterly trend report, the value of new equipment leased or supplied on hire purchase in the first quarter of 2017 was up 10% over the corresponding quarter in 2016. The White Clarke Group report estimated the German market is to continue to have grown in the subsequent quarters and over the course of 2018.

Brendan Gleeson, group chief executive officer at the White Clarke Group, said: “The leasing industry continues its significant growth whilst companies introduce new and innovative ways to finance equipment for companies worldwide. This year’s report sees the top 50 leasing markets growing new business volume by 16.6%, rising from $1.099tn in 2016 to a remarkable $1.282tn in 2017.”

The Global Leasing Report is prepared by White Clarke Group in association with the World Leasing Yearbook.