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Market Research Report

Furniture Rental Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 01:21 AM, 23rd April, 2018 REP-ID-295 Category: Miscellaneous

Furniture Rental Market Overview

The practice of renting furniture instead of purchasing has proven to be beneficial for consumers. Gone are the days when consumers demanded a permanent ownership of products, goods and commodities. With the progress in design and style, consumers are considering the dynamic nature of trends. Leasing furniture is about providing access and comfort to consumers who feels that these services are about both saving money and convenience. Emerging growth of e-commerce sector has made the process more convenient and affordable for the people to rent the furniture by going through various online channels.  

Market size and forecast

The furniture rental market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. The primary factor responsible for the growth is an increase in number of employers that are incorporating rental furniture’s into their corporate mobility policies as a core service offering. The practice of renting instead of purchasing furniture has proven to be beneficial for consumers because of lower price with reduced expense and maintenance which will drive the furniture rental market size.

The industry is driven by wide range macroeconomic factors, such as the number of businesses operating domestically, the unemployment rate and the business sentiment index, all of which are expected to get better during that timeframe. Growth in the number of businesses stimulates the demand for office furniture. Moreover, as the unemployment rate falls, demand for office furniture is anticipated to rise, as businesses require furniture for new employees.

furniture rental

North American region has been consistently dominating the market globally, in terms of the demand for rental furniture. It is followed by Asia-Pacific occupying the second position in the market. Massive growth in urbanization along with rising number of corporate offices is expected to fuel the growth of furniture rental market in Asia Pacific region. Europe is anticipated to showcase robust growth in the next few years.

Market Segmentation

Our in-depth analysis segmented the global furniture market in the following segments:

By Material

  • Leather
  • Plastic
  • Wood
  • Metal
  • Glass

By Type

  • Domestic use
  • Sofa
  • Bed
  • Wardrobe
  • Dining Table
  • Others
  • Commercial use
    • Tables
    • Overhead Bins
    • Systems
    • Storage Units
    • Others

By Distribution Channel

  • Online Stores
  • Offline Stores

By Region

Global furniture rental market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis

Growth drivers and challenges

Rising number of working population and unevenness related to the settlement has prospered the growth of furniture rental market over the past few years. The urbanization and growth in the real estate industry is influencing the furniture rental market all across the globe. In U.S. the growing trend towards the rented apartments has been observed among the population who are inclined towards affordable, multifunctional and smaller furniture that suits their changing lifestyles. Moreover, the rental furniture service providers are trying to cater to the metropolitan ways of life of consumers and are adding appealing features to the furniture. Presently, rental furniture includes various attributes that are aesthetically appealing and light weight, and thus supplementing the growth of the global rental furniture market. Rising expenses coupled with changing lifestyle is expected to prompt the consumer towards rental furniture in the near future.

However, the market growth is anticipated to be hampered by tracking rental furniture equipment availability, managing complex bookings and pricing models, maintaining furniture and delivering amazing customer service.   

 Key Players

The key players for furniture rental market are as follows:

  • CORT
  • Furlenco
  • Rentmojo
  • Churchill
  • Brook
  • AFR
  • Arenson
  • JMT

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global furniture rental market is segmented as follows:

  • By Material Market Size & Y-O-Y Growth Analysis
  • By Type Market Size & Y-O-Y Growth Analysis
  • By Distribution Channel Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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