ASEAMAC report highlights fragmented Spanish rental market
By Murray Pollok12 September 2023
More than 70% of rental companies in Spain reported a significant increase in their rental businesses last year and so far this year, according to the latest market report by Spanish rental association ASEAMAC.
Just short of 20% of respondents to the survey report growth expectations of more than 20% in their business for this year, marginally up from 17% in 2022.
The report also provides insight into the highly fragmented nature of the rental market in Spain. Just less than 20% of the survey respondents reported annual revenues of more than €15 million, with the largest proportion of companies - 53% of the total - reporting revenues of less than €3 million.
That is changing, however. In 2018, the survey reported than 60% of companies had revenues under €3 million and 15% in excess of €15 million.
Another finding highlights some of the key concerns in the market. For example, 80% of respondents said that machine breakdown because of missuse by customers was an important or “critical” problem. That figure has risen significantly since 2021.
The report estimates that the market compresis around 1200 rental companies, of which ASEAMAC members represent approximately 65%.
The 2023 edition, the eighth to be carried out by the association, reviews the current state of the market in Spain and highlights several factors in the industry, including turnover, figures for billing, employees, investments as well as an outlook for the rest of 2023.
The report is accessible from any type of device and is available on the ASEAMAC website. Companies who have submitted data will be eligible for free access to the report.