Furniture Rental Market Top Key Players - In-Lease, The Lounge, Athoor, Asia Furniture Rental, Feather, Furlenco, Rentmojo, Churchill

 

The idea of renting furniture generally refers to the practice of doing so rather than buying it. Some of the defining benefits of renting furniture include the simplicity of obtaining goods when needed and returning them later, a reduction in the burden of moving heavy, old-style furniture during a move, fewer maintenance costs, and lower cost of furniture.

The multi-functional, portable, and/or convertible furniture items, like sofas that can also serve as beds, desks that can also serve as cabinets, and other similar items, not only help make rooms appear larger and more attractive inside of homes and offices, but they can also be quickly and easily transformed to meet a variety of needs, which makes them very popular with buyers and end users.

The furniture rental market is expected to grow at a CAGR of around 18.4% over the period of next 5 years.

 

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MARKET DRIVERS:

The growth of this market is attributed to several key relying factors, such as the rising propensity of people to rent furniture because of its cost-effectiveness, the rising number of employers including rental furniture in their corporate mobility policies, the growing disparity related to the settlement of people across all regions, the surging housing population around the world, the expanding student community across major regions, and the escalating.

Additionally, particularly over the past few years, the start-up environment and the co-working culture in some of the world's largest regions have undergone significant change. Renting office furniture enables new start-ups with limited resources to obtain the appropriate workplace style without incurring additional costs, which is why modern office owners prefer it to buying it. Therefore, the furniture rental market is projected to experience significant growth in the next years due to the increase in startups and co-working spaces across a variety of industries and nations.

 

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The rise in rented apartments due to an increase in the working population's preference for multifunctional and compact furniture that fits their changing lifestyles, as well as other factors like the expanding number of businesses globally, the booming real estate industry, and the quick development of the e-commerce sector all contribute to the growth of the furniture rental market.

FURNITURE RENTAL MARKET SEGMENTATION:

By Furniture Type:

·         Domestic:

o   Sofa

o   Bed

o   Wardrobe

o   Dining Table

o   Others

·         Commercial:

o   Tables

o   Overhead Bins

o   Systems

o   Storage Units

o   Others

 

By Material:

·         Leather

·         Plastic

·         Wood

·         Metal

·         Glass

·         Others

 

By Distribution Channel:

·         Online Stores

·         Offline Stores

 

By Business Model:

·         Self Inventory

·         Tie-Up With Various Vendor

·         Verified Vendor

 

By Tenure:

·         Less than 1 Year

·         1-2 Year

·         Over 2 Years

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

 

FEW KEY PLAYERS IN FURNITURE RENTAL MARKET:

·         In-Lease

·         The Lounge

·         Athoor

·         Asia Furniture Rental

·         Feather

·         Furlenco

·         Rentmojo

·         Churchill

·         Arenson

·         Jmt

·         Cityfurnish

·         Brook Furniture Rental

·         Luxe Modern Rentals

·         Cort

·         Rent-A-Center

·         Aaron

·         Other Players

 

RECENT DEVELOPMENTS:

·         In March 2021, 1RentPlace.com announced the launch of its online marketplace, which offers a massive inventory of rentable luxury furniture, art and home décor. It offers exclusive access to an assorted catalog of items from the most exclusive shops and dealers across the United States. 

·         In April 2021, Chair-man Mills Corp. , Canada's leading event rental provider, announced its partnership with Contemporary Furniture Rentals Inc. Contemporary Furniture Rentals Inc. is known to be the first and largest specialty furniture rental company in the Greater Toronto Area.

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                                                             

                                                                             

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