证券借贷市场（2026—2031）
证券借贷市场规模预计由2026年的46000亿美元增至2031年的66000亿美元，预测期复合年增长率为7.20%。北美是当前最大市场，亚太地区增长最快。
市场研究正文
规模、增长、细分、驱动因素与关键问题
当前质量分 100.00，审核状态 accepted。结构化字段已按 RoboInd 内容层级组织。
核心结论
证券借贷市场规模预计由2026年的46000亿美元增至2031年的66000亿美元，预测期复合年增长率为7.20%。北美是当前最大市场，亚太地区增长最快。
市场走势
结构化指标
| 指标 | 年份 | 数值 | 性质 |
|---|---|---|---|
| 复合年增长率 | 2031 | 7.2% | 机构预测 |
| 市场规模 | 2026 | USD 4.6 trillion | 机构预测 |
| 市场规模 | 2031 | USD 6.6 trillion | 机构预测 |
细分市场份额
市场结构
| 维度 | 细分项 | 年份 | 份额 |
|---|---|---|---|
| asset_class | equities | 2025 | 45.300% |
| geography | North America | 2025 | 38.200% |
| lending_model | agent lending | 2025 | 78.900% |
| participant_type | government and sovereign entities | 2025 | 28.100% |
关键结论
- asset_class 维度中，equities 在 2025 年的公开份额为 45.3%。
- geography 维度中，North America 在 2025 年的公开份额为 38.2%。
- lending_model 维度中，agent lending 在 2025 年的公开份额为 78.9%。
- participant_type 维度中，government and sovereign entities 在 2025 年的公开份额为 28.1%。
主要参与者
- J.P. Morgan
- BNY Mellon
- State Street Corporation
- BNP Paribas
- Citi
增长驱动因素
| 因素 | 影响 CAGR | 地区相关性 | 影响周期 |
|---|---|---|---|
| Short-Selling And Relative-Value Trading Expanding Borrow Demand | +1.500% | Global, concentrated in North America and Asia-Pacific | Short term (≤ 2 years) |
| Institutional And ETF Assets Expanding Lendable Supply | +1.800% | Global, strongest in North America and Europe | Medium term (2-4 years) |
| Institutional Adoption For Portfolio Income | +1.200% | Global, with early acceleration in Asia-Pacific and Middle East and Africa | Medium term (2-4 years) |
| Market Making And Settlement Coverage Increasing Borrowing | +0.900% | North America and Europe, with spillover to Asia-Pacific | Short term (≤ 2 years) |
| Higher Utilization Of Scarce And Special Securities | +0.800% | Global, highest in Asia-Pacific and select United States names | Short term (≤ 2 years) |
| Agency And Centralized Programs Improving Asset Mobilization | +0.700% | Global, with early gains in Middle East and Africa and South America | Long term (≥ 4 years) |
市场制约因素
| 因素 | 影响 CAGR | 地区相关性 | 影响周期 |
|---|---|---|---|
| Capital And Balance-Sheet Constraints On Intermediaries | -0.600% | Global, most acute in North America and Europe | Medium term (2-4 years) |
| Counterparty And Collateral Risks For Beneficial Owners | -0.400% | Global | Short term (≤ 2 years) |
| Cross-Border Tax, Legal, And Settlement Complexity | -0.500% | Asia-Pacific, Middle East and Africa, and cross-border Europe and United States flows | Medium term (2-4 years) |
| Collateral Management And Post-Trade Processing Costs | -0.300% | Global, highest in multi-jurisdictional programs | Long term (≥ 4 years) |
报告关注的关键问题
What is the projected growth rate for securities lending through 2031?
The securities lending market is forecast to grow at a 7.2% CAGR from 2026 to 2031 and reach USD 6.6 trillion.
Which asset class leads securities lending activity?
Equities led with 45.3% of value in 2025 and are forecast to grow at an 8% CAGR through 2031.
Why are institutional investors expanding lending programs?
Asset owners use lending programs to earn portfolio income while applying controls for collateral, proxy voting, and counterparty exposure.
Which region is growing fastest in securities lending?
Asia-Pacific is forecast to grow at a 10.2% CAGR through 2031, supported by regulatory normalization and technology-related special securities.
How is central clearing affecting lending programs?
Central clearing can improve netting and balance-sheet efficiency, especially as Treasury clearing requirements take effect in the United States.
What is the leading lending model?
Agent lending led with 78.9% of value in 2025 because large asset owners require global administration, collateral management, and indemnification options.
市场概览
- 增长最快市场：亚太地区
- 最大市场：北美
- 市场集中度：高
查看来源：Mordor Intelligence