Analysis of the Rental LED Screen Market From 2022 to 2024

Year-on-year increase of 35%, the global LED display rental market size reached 13.3 billion USD in 2023.

LED display rental applications are very extensive, including film and television shooting, large-scale entertainment events (ceremonies, concerts, theaters), sports and athletics, conferences and exhibitions, high-end entertainment venues, etc.

According to data from HJS Research, the global rental market relatively warmed up, especially with the incremental market brought by virtual production. In 2023, the overall global rental LED market size increased by 35% year-on-year, reaching 13.3 billion USD, of which the China rental market increased by approximately 68% year-on-year.

The growth is mainly due to the outstanding performance of three major sectors in 2023, including large-scale entertainment events, film and television shooting, and sports and athletics.

As an indispensable display device for concerts, LED displays were fully utilized in the rental market in 2023. The rental display sector became a bright spot for the LED display industry in 2023, complementing the hot concert scene.

In the field of film and television shooting, the value brought by LED displays replacing green screens is highlighted, and Hollywood's application has led to a trend of LED displays globally, but more productions are hindered by the high cost of establishing customized studios.

The research has observed that the usage pattern is shifting from fixed production scenes to financing leasing, making it also an emerging growth point in the rental market. Currently, in regions with developed film and television industries such as the United States, the United Kingdom, India, Thailand, Japan, South Korea, etc., the film and television industry has a high degree of industrialization, and there is a high acceptance of high-end rental displays for film and television shooting, thus the demand for high-end rental studios is relatively large.

Although the demand for high-end rentals in the field of film and television shooting slowed down in 2023, at the same time, high-end rental displays used for film and television shooting are developing towards high parameters, high configurations, and larger sizes, driving the additional value of high-end rental displays on one hand and the size demands on the other.

In the long run, driven by demand, area, and additional value, high-end rentals in the field of film and television shooting are expected to maintain growth in the future.

In the field of sports and athletics (partially fixed, partially rental), the applications of LED displays include bucket screens, spectator screens, scoreboard screens, fence screens, stage screens, etc., which not only enhance the viewing experience but also increase the commercial value and interactivity of sports events.

In 2023, with the decline of the pandemic's impact, sports events were successfully held, and spectators were also able to watch live. The sports event market has ushered in recovery and growth. In 2023, multiple important international and domestic sports events were held, such as the FISU World University Game and the Hangzhou Asian Games, driving the demand for LED rental displays.

In terms of the performance of supply chain companies, China LED screen manufacturers suffered greatly in 2021 and 2022, and it was not until 2023 that they rebounded strongly. Some companies did not survive 2021 and 2022. The global high-end rentals rebounded earlier in 2022 due to earlier increases in social activities and earlier recovery in high-end virtual production increments.

In 2024, high-end rentals are expected to remain vibrant.

The Research believes that looking at the two years of 2022-2023 as a whole, from a global perspective, the rental market is a typical representative of a strong rebound and retaliatory recovery, reaching an unprecedented peak, with the overall scale accounting for over 20%. In 2024, it is still expected to be good, especially for high-end rentals.

Entering 2024, overall, the rental display market is expected to remain a favorable market. Although the entertainment market is a strong cyclical industry, and one should be wary of the fluctuations brought by cycles, this year, there are still various large-scale events and sports competitions globally, such as the 2024 elections (with 40 countries/regions holding leadership elections) and the 2024 Olympics. Additionally, despite a cooling trend, the popularity of concert events remains high, as well as the continued growth in the film and television shooting market.

It is expected that the market in 2024 will bring new demand for rental screens, especially high-end rentals. Therefore, The research predicts that the rental display market in 2024 is expected to continue the growth trend of 2023, maintaining vitality. Related rental display screen companies are expected to benefit from this; however, there may be localized changes in growth areas and business types.