Furniture Rental Market Size is estimated to grow at a CAGR of 18.4% during the forecast period

 

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

 

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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.

MARKET DRIVERS:

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.

Additionally, it appears that the companies in the furniture rental market are placing an increased emphasis on catering to the current lifestyles of consumers in various locations. Along with ongoing technological developments, consumer lifestyle changes, and furniture rental companies' increased focus on differentiating themselves in the market through the introduction of aesthetically pleasing and lightweight products and the provision of value-added services like free delivery and installation, etc., are creating new opportunities and contributing to the overall 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

 

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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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