In 2023, the domestic tourism expenditure on transport equipment rental services in Australia stood at 1.31 Billion AUD. The forecasted data from 2024 to 2028 shows a slight growth, with values increasing from 1.32 Billion AUD in 2024 and 2025 to 1.33 Billion AUD from 2026 onwards. The year-on-year variation from 2023 to 2024 is approximately 0.76%, and from 2024 to 2025 there is no significant change. The compound annual growth rate (CAGR) over the five-year period (2024-2028) indicates a marginal positive trend, representing an average annual growth rate around 0.3%.
Future trends to watch for:
- Digital transformation in rental services could streamline operations and reduce costs.
- Potential impact of environmental policies favoring electric and eco-friendly transport options.
- Shifts in domestic travel behaviors post-COVID could influence rental service demands.
- Technological advancements in autonomous vehicles might reshape the rental market landscape.
