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Party Supply Rental Market Size, Trends, Share Analysis, Size And Forecast To 2033
Party Supply Rental Market Size
As per the report, the party supply rental market size has grown rapidly in recent years. It will grow from $11.23 billion in 2023 to $12.84 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The party supply rental market size is expected to see rapid growth in the next few years. It will grow to $21.99 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%.
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Expanding Event Budgets Fuel Growth In Party Supply Rental Market
The rising budgets for event expenses are expected to propel the growth of the party supply rental market. Rising budgets for event expenses are driven by the growing demand for immersive experiences, increased competition, and the need to meet higher attendee expectations. The event spending funds are utilized for party supplies to enhance attendee experiences with diverse and engaging decorations and accessories. For instance, in September 2023, according to a survey of 500 professionals published by American Express Global Business Travel, a US-based travel management company, 67% of companies predict an increase in overall event spending in 2024, up from 65% in 2023. Additionally, 10% of these companies anticipate an increase in expenditure of 11% or more. Furthermore, 70% of respondents expect attendee numbers to return to 2019 levels by 2024, compared to 67% in 2023. Therefore, rising budgets for event expenses will drive growth in the party supply rental market.
Customized Tent Rental Services Revolutionizing The Party Supply Market
Major companies operating in the party supply rental market are focusing on customization and personalization services, such as tent rental, to ensure customer satisfaction with reliable and efficient service. Tent rental services offer various tent sizes, styles, and accessories for diverse events, enabling hosts to create memorable experiences despite weather or location constraints. For instance, in May 2024, Jump Monkey's Party Rental, a U.S.-based party equipment rental company, launched a new tent rental service in Houston, Texas. The rental service showcases an assortment of marquee and pole tents available in various sizes and styles, apt for a wide range of celebrations, including weddings, corporate gatherings, family reunions, and community events. The company offers an extensive selection of tables and chairs, allowing customers to customize the layout and decor to match their tastes.
The party supply rental market covered in this report is segmented -
1) By Types: Tableware And Linens, Decorations And Decor, Furniture And Seating, Tents And Canopies, Audio And Visual Equipment, Party Games And Entertainment, Catering Equipment, Themed Party Supplies, Dinnerware And Glassware, Outdoor Cooking And Grilling Equipment
2) By Events Or Occasions: Weddings, Birthdays, Corporate Events, Seasonal Events, Graduations, Outdoor Events, Baby Showers, Anniversaries, Festivals And Fairs, Other Events Or Ocassions
3) By Customer: Individual Consumers, Event Planners, Corporate Clients, Nonprofit Organizations, Government And Municipalities, Caterers And Catering Services
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Major companies operating in the party supply rental market are CORT Party Rental Corporation, Chase Canopy Company Inc., Marquee Event Group LLC, Bright Event Rentals LLC, Quest Events LLC, Hartmann Studios Inc, Stamford Tent & Event Services Inc, Hall's Rental Service Inc, All Occasions Party Rental Inc, Party Reflections Inc, Stuart Event Rentals Inc, Event Source Inc, Avalon Event Rentals Inc, Baker Party Rentals, Classic Party Rentals LLC, Elite Party Rentals Inc, Abbey Tent & Party Rentals Inc, Diamond Event and Tent LLC, Gervais Party and Tent Rentals Inc, Prime Event Group Inc, Signature Party Rentals LLC, The Fun Ones Inc, Total Events LLC, US Event Structures Inc, Xtreme Fun Rentals Inc, Platinum Event Rentals LLC, Ventura Rental Center Inc.
Contents of the report:
1. Executive Summary
2. Party Supply Rental Market Report Structure
3. Party Supply Rental Market Trends And Strategies
4. Party Supply Rental Market - Macro Economic Scenario
5. Party Supply Rental Market Size And Growth
…..
27. Party Supply Rental Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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