Party Supply Rental Global Market Report 2024

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 observed during the historic period can be attributed to several factors, including increased social events, economic growth, rising disposable income, urbanization, and a 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 projected growth in the forecast period can be attributed to several factors, including increasing advancements in online booking platforms, growing preferences for themed parties, rising corporate events, and the rising demand for premium services. Key trends expected during this period encompass a sustainability focus, increasing demand for customization, integration of augmented reality, enhanced customer experience, and expansion of rental inventory.

The party supply rental market is poised for growth due to increasing budgets allocated for event expenses. This rise in budgets is fueled by the rising demand for immersive event experiences and the need to meet heightened attendee expectations in today's competitive landscape. These event funds are often directed towards party supplies, enhancing attendee experiences with a diverse array of decorations and accessories. For example, a survey conducted by American Express Global Business Travel revealed that 67% of companies anticipate an uptick in overall event spending in 2024, with 10% expecting a significant increase of 11% or more. Additionally, 70% of respondents foresee attendee numbers returning to pre-pandemic levels by 2024.

Key players in the party supply rental market are prioritizing customization and personalization services, such as tent rentals, to ensure customer satisfaction and provide reliable and efficient service. Tent rental services offer a wide selection of tent sizes, styles, and accessories, allowing hosts to create memorable experiences regardless of weather conditions or venue limitations. For instance, Jump Monkey's Party Rental recently introduced a tent rental service in Houston, Texas, featuring an assortment of marquee and pole tents suitable for various events, from weddings to corporate gatherings. Their extensive selection of tables and chairs enables customers to customize the event layout and decor to suit their preferences.

In March 2023, Chair-Man Mills Corp. (CMMC), a company based in Canada that specializes in event and tent services, completed the acquisition of Higgins Event Rentals for an undisclosed sum. This strategic move bolsters the capabilities of both organizations to provide an extensive range of high-quality products and top-notch services to leading venues, catering services, event organizers, and corporate clients in Ontario. Higgins Event Rentals, also based in Canada, is known for its comprehensive offerings in event rentals, particularly party supplies.

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.

North America was the largest region in the party supply rental market in 2023. The regions covered in the party supply rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the party supply rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Party supply rental entails the provision of various items and equipment required for parties, events, celebrations, or gatherings on a rental basis. These businesses offer a diverse range of products and party essentials for a specified duration to enhance convenience for customers.

The primary types of party supply rental encompass 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, and outdoor cooking and grilling equipment. Tableware and linens consist of items such as plates, cups, cutlery, napkins, tablecloths, and placemats utilized during meals at parties, contributing to both functionality and aesthetic appeal. These rentals cater to a variety of events or occasions, including weddings, birthdays, corporate events, seasonal events, graduations, outdoor gatherings, baby showers, anniversaries, festivals and fairs, among others. Customers served include individual consumers, event planners, corporate clients, nonprofit organizations, governments and municipalities, as well as caterers and catering services.

The party supply rental market research report is one of a series of new reports that provides party supply rental market statistics, including party supply rental industry global market size, regional shares, competitors with an party supply rental market share, detailed party supply rental market segments, market trends and opportunities, and any further data you may need to thrive in the party supply rental industry. This party supply rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The party supply rental market includes revenue earned by providing services such as delivery and pickup, setup and installation, consultation and planning. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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