PUBLISHER: 360iResearch | PRODUCT CODE: 1471175
PUBLISHER: 360iResearch | PRODUCT CODE: 1471175
[185 Pages Report] The Party Supply Rental Market size was estimated at USD 14.13 billion in 2023 and expected to reach USD 16.22 billion in 2024, at a CAGR 14.96% to reach USD 37.50 billion by 2030.
The party supply rental services provide the necessary resources for a particular party or event. These can include renting event venues, including a building or room space, tables, chairs, tents, cooking, and sound equipment. These equipment and supplies are rented by organizations and individuals for the success of their event. The rise in disposable income of individuals worldwide and the growing trend of event celebrations are accelerating the use of party supply rentals. However, the concerns associated with thefts and damage to rental products may adversely impact the party supply rental businesses. Besides, the availability of customized rental solutions and packages is expected to encourage the use of party supply rentals.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 14.13 billion |
Estimated Year [2024] | USD 16.22 billion |
Forecast Year [2030] | USD 37.50 billion |
CAGR (%) | 14.96% |
Product: Growing demand for audio-visual equipment in large entertainment events
Audio-visual equipment includes items such as microphones, speakers, and projectors, which are crucial for enhancing the auditory and visual experience at events. Beverage servers encompass equipment such as coffee urns, punch bowls, and portable bars, facilitating the service of beverages in a convenient and aesthetic manner. Cooking equipment comprises portable grills, ovens, and stoves, essential for onsite food preparation, ensuring fresh and hot servings. Decor encompasses a broad range of items, from table centerpieces to themed decorations, playing a key role in setting the event's ambiance and mood. Flooring & staging involve temporary flooring and stage platforms, which are critical for transforming and customizing venues to suit specific event needs. Glassware & food service supplies include all necessary serving and eating utensils, from plates to cutlery and glassware, ensuring guests have a pleasant dining experience. Lighting, heaters & fans comprise equipment to control the event environment, including lighting to set the mood, heaters for warmth, and fans for cooling. Portable bars provide a complete setup for serving drinks, often including storage and display areas, essential for events serving beverages. Social distancing supplies a category that has gained importance, including barriers and signage to ensure guest safety by facilitating social distancing measures. Soft play zones / fun activities include bounce houses, ball pits, and other interactive entertainment options for children. Soft play zones / fun activities are important for family-friendly events & where children's entertainment is key. Tables, chairs & cloths are fundamental items for guest seating and dining, available in various styles and materials. Tables, chairs & cloth selections are influenced by event formality, theme, and comfort requirements. Tents & umbrellas are essential for outdoor events, providing shelter from the elements and creating defined spaces for various activities. Wedding decor are specialized decorations catering specifically to weddings, including arches, aisle runners, and more, to create a romantic and personalized setting.
Distribution: Increasing preference for online distribution channels due to its convenience, variety, and competitive pricing
Offline distribution involves physical locations such as retail stores, specialty party supply shops, and direct locations from rental warehouses where customers can browse, consult, and secure party supplies directly. This segment benefits from the tangible experience, where customers can physically inspect the quality of products, receive personalized service, and obtain immediate fulfillment without waiting for delivery. Online distribution of party supply rentals encompasses e-commerce platforms, dedicated rental service websites, and mobile applications. This segment has seen significant growth, fueled by the comfort of browsing a vast selection from anywhere, competitive pricing, customer reviews, and direct-to-consumer delivery options.
Regional Insights
The United States and Canada represent substantial markets within the Americas, each with their distinct characteristics but united by a common trend towards personalized and experience-centric events. In the United States, consumer demand is propelled by diverse cultural celebrations and an increasing tendency for lavish birthday parties, weddings, and corporate events. The trend toward DIY parties among American consumers influences the demand for unique and customizable rental options. The party supply rental market in the EU countries is marked by a high demand for eco-friendly and sustainable products, reflecting the region's strong focus on environmental concerns. Consumer purchasing behavior often leans towards quality over quantity, with a preference for high-end, durable items for events and parties. The Middle East showcases a preference for opulent and extravagant celebrations, driving demand for luxurious party supplies and comprehensive event management services. The region is seeing a surge in investments geared towards enhancing event experiences through technology and innovation. The Asia Pacific region, covering major economies such as China, Japan, and India, exhibits unique consumer needs and purchasing behaviors in the party supply rental market. The demand in this region is driven by an increasing trend towards celebrating traditional and cultural festivals on a grand scale, coupled with the rising influence of Western lifestyles and celebrations.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Party Supply Rental Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Party Supply Rental Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Party Supply Rental Market, highlighting leading vendors and their innovative profiles. These include A Classic Party Rental, All City Rentals, All Occasions Party Rental, American Party Rental, Avalon Tent, BabyQuip, Baker Party Rentals, Big D Party Rentals, Bright Event Rentals, Bright Event Rentals, LLC, Celebration Party Equipment Rentals, Inc., Cheers Party Rentals, CORT Party Rental, Diamond Event & Tent, Eventective, Inc., J&S Party Rental, Jump Monkey's Party Rental, Karlorent, KM Party Rental, La Pinata Party Rental, Inc, Montana Party Rentals, ONE STOP PARTY STORE, Party Reflections, Inc., Party Rentals, Inc., Pico Party Rents, Pleasanton Rentals, Premiere Events, Reventals Event Rentals, Sainath Decorators, Taylor Rental, and Ventura Rental Center.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Party Supply Rental Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Party Supply Rental Market?
3. What are the technology trends and regulatory frameworks in the Party Supply Rental Market?
4. What is the market share of the leading vendors in the Party Supply Rental Market?
5. Which modes and strategic moves are suitable for entering the Party Supply Rental Market?