Good times for the industry as revenue continues to grow
Melbourne, Australia (PRWEB) May 25, 2013
IBISWorld estimates that the Party Supply Rental industry accounts for just under 10% of the hire and rental market in Australia, at $375.1 million in 2012-13. According to IBISWorld industry analyst Alen Allday, “the industry is largely influenced by general economic trends, changes in consumer incomes and business confidence.” During periods of strong economic growth, households and businesses are more likely to have sufficient funds to hold parties and functions and celebrate special events. While these activities can be carried out in a wide range of facilities, such as restaurants, function rooms and conference centres, a proportion of are conducted at home, in parks and at other locations with the use of rented equipment from the industry.
The Party Supply Rental industry has a low concentration level, with just one major player operating in the industry: Harry the Hirer Pty Ltd. “The concentration level has not changed significantly in the past five years due to limited industry consolidation and merger activity”, says Allday. The low concentration level is a result of the large number of small firms operating in the industry. However, geographically and within some product segments, concentration is higher.
The industry suffered in 2008-09 due to the negative impact of the global financial crisis, which resulted in a drop in demand for party supply rentals. Growth was low in the following year, before recovering strongly from 2010-11 through 2012-13. The industry is expected to have recovered as business confidence returned, employment remained high and consumer spending increased. Future growth is forecast to be strong and steady as economic conditions remain strong and demand for the industry's products increases at a solid rate.
For more information, visit IBISWorld’s Party Supply Rental report in Australia industry page.
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IBISWorld Industry Report Key Topics
This industry rents out tables, chairs, kitchenware, linen, centrepieces, stages, marquees, canopies, lighting and other items for public and private parties, small functions and events. The industry excludes products and services for major events, such as temporary fencing, portable toilets, temporary grandstand seating, fresh flowers, catering services and security services.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.