The European leasing industry is confident of growth in business and profitability in 2013 yet expects significant consolidation, according to an exclusive report published by Leasing Life.

More than three-quarters of respondents to the European Asset Finance Industry Business Outlook Survey 2013 said they expected their business volumes to increase in the year ahead, while 69% predicted a growth in profits.

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Respondents also predicted consolidation was set to increase in the asset finance industry during 2013, with just 5% of those questioned predicting either a decrease or significant decrease in M&A activity.

In geographical terms, the BRIC nations and Eastern Europe were viewed as promising emerging markets for the asset finance industry.

Of these regions, 33% of respondents viewed Brazil as having high growth potential for asset finance, with China, India and Eastern Europe being seen as key emerging markets by 29% of respondents.

Despite the general optimism, respondents did identify several areas of concern. Of these, "market uncertainty," as indentified by 63% of those asked, was chief, followed by regulatory challenges (38%) and reduction in demand (31%).

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The survey interviewed 105 industry executives, with 45% of these being directors and other C-level respondents. Companies of all sizes and ownership models were surveyed, including both asset finance lenders and suppliers to the asset finance industry.

A selection of headline findings from the 88 page report will be published in January’s issue of Leasing Life. The full report is available for purchase online here.