UK Event Rental Market On The Rise
Published on 22/08/2014
According to a recent article on International Rental News, the UK event rental market is poised for growth over the next five years.
Although the market for event rental equipment was estimated to be worth an impressive £560 million in 2013, a report from AMA Research predicts that it will see 23% growth during the forecast period.
Director of AMA Research Andrew Hartley said that 2014 has been positive for the event hire business, and the market is expected to grow steadily to 2018. Hartley accredits this boost to “sporting events across the period, as well as a wide range of music concerts and festivals, exhibitions and trade shows and corporate events” which could improve the equipment hire market to over £600 million.
The findings showed that good weather in 2013, particularly over the summer months when the majority of events take place, benefited the events sector – and thus the equipment hire sector. If this pattern continues, underlying growth should remain strong. They also suggest that exhibitions and trade shows accounted for the largest proportion of the event market (over 50%). Other significant sectors included sports, music, festivals and cultural events, corporate hospitability and charity events.
The largest equipment rental sectors were said to be structures, staging and seating, as well as portable buildings and sanitation – which held a combined market share of 50% to 60% respectively.
AMA Research added that the events rental sector had improved in recent years in areas such as standards of safety, comfort and sanitation, which can all be said to have driven growth in the rental of equipment. Mr Hartley added that “while adverse weather can impact negatively on the market, developments in the climate control and structures product sectors have led to outdoor events being less dependent on the prevailing weather.”
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