The internal tourism expenditure on transport equipment rental services in Australia has shown fluctuations over the years. Starting at 1.64 billion AUD in 2013, it reached 1.94 billion AUD by 2023. The largest dip occurred in 2020, likely due to COVID-19, with a significant rebound in 2021. The CAGR for the last five years up to 2023 is 0.48%. The year-on-year variation over the last two years indicates an upward trend with 12.98% in 2022 and 8.14% in 2023.
The forecast from 2024 onwards shows a steady increase, with an estimated figure of 2.02 billion AUD by 2028. The forecasted 5-year CAGR is optimistic at 0.6%, with an overall growth rate of 3.01% over the next five years.
Future trends to watch for include the impact of technological advancements in transport rental services and potential shifts in consumer behavior post-pandemic. Additionally, sustainability and eco-friendly initiatives might influence the growth trajectory in this sector.
