Event Equipment Hire market to grow by 23% over the next 5 years

The UK market for event equipment hire is estimated to be worth some £560m in 2013, according to a new report by AMA Research. Good weather in 2013, particularly over the key months of the year, benefited the events sector and consequently the event hire sector.

The UK has a well-developed infrastructure of event destinations, venues and service suppliers, and the market does not appear to have been impacted by the economic downturn to the same extent as many other product and service sectors, though corporate events have seen a decline.

The market was boosted significantly in 2012 due to the Queen’s Diamond Jubilee and the London 2012 Olympic Games and related events. While good weather provided a boost to the market in 2013, some post-Olympic readjustment meant that the market size fell marginally during the year compared to the peak in 2012. However, underlying growth remains strong with prospects for 2014 positive, given the reasonable weather.

It is estimated that the exhibitions & trade show sector accounts for the largest share of the event market at more than 50%. Other key sectors include sports, music, festivals & cultural events, corporate hospitability and ‘other events’ such as charity events and hobby festivals. The largest equipment hire sectors are estimated to be staging, structures & seating, and portable buildings & sanitation, which have a combined share of 50-60% of the market.

Other important hire sectors are power generation & climate control, audio-visual & lighting, signage, traffic & crowd control, security & portable access, interiors and access equipment & other plant. The sector has 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 hire.

“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 & festivals, exhibitions & trade shows and corporate events, are expected to boost the equipment hire market to over £600m by the end of the forecast period.” said Andrew Hartley, Director of AMA Research. “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.”

The ‘Event Equipment Hire Market Report - 2014-2018 Analysis’ report is published by AMA Research, a leading provider of market research and consultancy services within the construction and home improvement markets. The report is available now and can be ordered online at www.amaresearch.co.uk or by calling 01242 235724.