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Party Supply Rental Global Market Report 2024 - Trends, Scope, Key Drivers Report 2033
Party Supply Rental Global Market
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According to The Business Research Company's, 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 growth in the historic period can be attributed to increased social events, economic growth, rising disposable income, urbanization, and growing population.
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%. The growth in the forecast period can be attributed to increasing advancements in online booking platforms, growing preferences for themed parties, increasing corporate events, and rising demand for premium services. Major trends in the forecast period include sustainability focus, customization demand, integration of augmented reality, enhanced customer experience, and expansion of rental inventory.
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Market Drivers and Trends:
The growing popularity of e-sports is expected to propel the growth of the PC gaming mouse market. Esports, or electronic sports, refers to organized, competitive video gaming where professional players and teams compete against each other in various video game titles at local, national, and international levels. The widespread availability of high-speed internet and affordable gaming devices has made e-sports more accessible to a broader audience. PC gaming mice are essential tools in e-sports, offering precision, customization, and ergonomic design for competitive advantage and improved gameplay performance. For instance, in January 2023, according to the Entertainment Software Association (ESA), a US-based trade association that represents the video game industry, console sales increased by 8% year over year to $6.57 billion in 2022, with over $1.5 billion being spent on consoles in just one month, December 2022. Additionally, the total amount spent by American consumers on video game content, hardware, and accessories in December 2022 was $7.6 billion, up 2% from the same month the previous year and totaling $56.6 billion for the entire year. Therefore, the growing popularity of e-sports is driving the PC gaming mouse 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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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.
Party Supply Rental Market 2024 Key Insights:
• 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%.
• Expanding Event Budgets Fuel Growth In Party Supply Rental Market
• Customized Tent Rental Services Revolutionizing The Party Supply Market
• North America was the largest region in the party supply rental market in 2023
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