Solifi, in partnership with the World Leasing Yearbook, released its 2022 global leasing report, which provided an update for the leasing industry and data to understand the trajectory of the market.
The COVID-19 pandemic has borne some unexpected leasing market positivity for a few countries, although the challenges of the period have taken a toll on the industry as a whole. Few countries reported positive growth in this year’s report, although these were dotted across several regions, such as India (9.68%), Colombia (87%), Greece (15%) and China (11.94%). The Asia region as a whole maintained a moderate level of growth through 2022, achieving 3.9% growth in market share from the previous year, while other regions did not perform as well.
The effects of the pandemic have been felt by a majority of global markets. Some of the largest markets experienced negative growth through 2020, including the UK (-19.65%), Australia (-11.76%) and Japan (-14.2%). The United States experienced -7% growth, while the North America region as a whole — although it remains the world’s biggest leasing market — experienced a 1.9% loss of global market share over the year.
“The global leasing report continues to form a key educational resource for country and regional leasing market performance to date,” David Hamilton, CEO at Solifi and author of the foreword of the report, said. “Solifi and the World Leasing Yearbook continue to invest in research to capture these critical leasing market changes. Off the back of this year’s insights, we anticipate next year will be a fascinating study of global efforts to resume our everyday lives and livelihoods.
“To date, our research suggests that organizations are recouping the losses of the early pandemic. We expect to see a significant market recovery to pre-2020 volumes through the rest of this year.”
Solifi’s global leasing report features data on international leasing volume and growth by region, market penetration, GDP penetration ratios and market shares, as well as a ranking of the top 50 leasing markets by size. Solifi prepared the report in association with the World Leasing Yearbook.
