The tourism output of transport equipment rental services in Australia exhibited a growth trend from 2013 to 2019, reaching 1.84 billion AUD in 2019. A significant decline occurred in 2020 due to the pandemic, reducing the value to 1.05 billion AUD, followed by a sharp recovery in 2021. By 2023, the output reached 1.99 billion AUD.
Over the last two years, 2022 and 2023, the year-on-year variations were 13.26% and 1.85% respectively. The five-year CAGR from 2018 to 2023 stood at 1.96%. Forecasts suggest moderate growth with a 1.46% CAGR over the next five years, reaching 2.16 billion AUD by 2028.
Future trends to watch for:
- Potential impact of global travel restrictions easing post-pandemic.
- Technological advancements in transport equipment rental services.
- Increasing focus on sustainable and eco-friendly transport options.
