UK event rental market poised for growth
14 August 2014
The UK event rental equipment market was estimated to be worth £560 million (€699 million) in 2013, and is forecast to see 23% growth over the next five years, according to a report from AMA Research.
Andrew Hartley, director of AMA Research, said, “2014 has been positive for the event hire sector and the market is forecast to grow steadily to 2018.
"Up-coming sporting events across the period, as well as a wide range of music concerts and festivals, exhibitions and trade shows and corporate events, are expected to boost the equipment hire market to over £600 million (€748 million) by the end of the forecast period.”
AMA Research said good weather in 2013, particularly over the key months of the year, benefited the events sector and consequently the event hire sector. It said underlying growth remained strong with prospects for 2014 positive, given the reasonable weather.
It is estimated that the exhibitions and trade show sector accounted for the largest share of the event market at more than 50%. Other key sectors included sports, music, festivals and cultural events, corporate hospitability and other events such as charity events and hobby festivals.
AMA Research estimated the largest equipment rental sectors to be staging, structures and seating, and portable buildings and sanitation – with a combined market share of 50% to 60%.
It said other important hire sectors were power generation and climate control, audio-visual and lighting, signage, traffic and crowd control, security and portable access, interiors and access equipment and other plant.
The company added that the events rental sector had seen some changes in recent years as event organisers improve standards of safety, comfort and sanitation, as well as investing in better AV equipment to enhance the visitor experience – all factors driving growth in equipment rental.
Mr Hartley added, “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.”