Event Rentals Projected to Rise in 2020 But Coronavirus Cancellations May Add Uncertainty
Photo Credit: Karri Saarinen presents at Nordic Design. Event rentals are set to lead the way for overall rental growth in 2020, bit it remains to be seen how the coronavirus outbreak and its fallout will impact this positive outlook. Unsplash / Teemu Paananen
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Events are growing across the world, and rental companies are set to reap the benefits, particularly compared to their construction equipment and tool rental counterparts. Will fallout from the coronavirus outbreak dampen this momentum?
A recently released rentals forecast from the American Rental Association (ARA) paints a rosy picture of continued growth in the event rentals market, mirroring an increase in the events industry as a whole.
While many event planners opt to completely hire out the creative planning process or simply buy their own equipment, these new methods of acquisition have yet to replace the traditional model of contracting with a rental company. Multiyear growth is currently in a positive direction, but the impact of global event cancellations due to the coronavirus outbreak remains to be seen. Rental companies may need to brace for an unexpected drop in the coming weeks and months. If you have any fe
