CURRENT TRENDS OF THE WORLD MARKET OF LEASING SERVICES

Abstract

The article analyzes the features of the functioning of the global leasing market after the unprecedented crisis of 2020 associated with the Covid-19 pandemic. It is assumed that quarantine in the world has practically paralyzed such types of business as retail, hotel and restaurant business, air travel. Revenues to the budget were sharply reduced. It is shown that the pandemic crisis gave impetus to the rapid development of e-commerce in the field of leasing. It is assumed that the development of e-commerce in the leasing business will become one of the main trends in the global leasing services market in the medium and long term. It was shown that the leasing services market has revived in 2021 and shows all signs of recovery. In 2020, the Asia-Pacific region was the largest region in the leasing market and accounted for 36.3% of total leasing transactions. The second place was occupied by the region of North America. It is argued that the growth of the leasing market in recent years is due to the sharp growth in the markets of developing countries, the demand from the aerospace and defense industries, the increase in economic literacy of the population, the growth of the used car market, the growth of activity in housing construction and the spread of the Internet in the world. It was shown that the level of concentration of the global leasing market today is relatively insignificant, since the share of the ten largest participants in the leasing market in 2021 was 8.15% of the total market. However, studies show that this figure may decrease in the near future due to an increase in the number of franchising transactions and an increase in the number of airlines choosing to purchase aircraft on lease. It is noted that the global leasing market is highly fragmented with a large number of market participants. It is argued that the emergence of start-ups as large providers of leasing services will be an incentive for the rapid expansion of the leasing market, since, guided by economic efficiency and the need to buy modern equipment, which is often expensive, start-ups have begun to rent or lease their equipment.