Global Furniture Rental Market Report Size, Trends & Growth Opportunity, By Product (Bed, Sofa & Couch, Table & Desks, Chairs & Stools, Wardrobe & Dressers, Others) By Material (Wood, Metal, Plastic, Glass, Others), By Application (Commercial, Residential), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa) And Forecast Till 2027.
Global Furniture Rental Market
The Global Furniture Rental market was worth USD 63.92 Billion in 2021 and is estimated to be USD 120.39 Billion growing at a CAGR of 8.61 % from 2022 to 2027.
Households primarily use rented furnishings to meet the interior needs of their indoor spaces. Furthermore, students prefer renting chairs and tables to meet the study needs of their co-living spaces. Customers prefer the furniture rental concept because of the monthly and yearly payment options.
The introduction of recent online furniture rentals platforms like CORT, INHABITER, and others will significantly increase service demand among the global population. Fuleco, an online furniture rental platform based in Bengaluru, India, for example, provides subscription-based rented chairs, tables, and other furnishing items to Indian households based on their interior decoration needs.
Market Drivers
The global increase in the housing population is a major factor driving the growth of the global furniture rental market. Furthermore, an increase in the number of employers incorporating furniture rental into their corporate policies is a primary factor responsible for the market's growth.
With the e-commerce sector experiencing significant growth as a result of increased internet subscribers and smartphone penetration, the process of renting furniture has become more convenient and cost-effective for people.
Moreover, an increase in disposable income combined with lower rented furniture expenses is expected to accelerate the growth of the furniture rental market. The rising trend of rented apartments as the working population expands into urban areas, along with the demand for aesthetically pleasing furniture, is expected to supplement the growth of the furniture rental market.
Market Restraints
The lack of public awareness of this market and the complexity of managing complex bookings limit growth. Moreover, Furthermore, the furniture rental market may face difficulties in maintaining furniture and providing customer service. Besides that, the emergence of new entrants with similar product offerings aimed at rural customers poses challenges to the prominent payer's business growth, stifling the industry's growth.
Market Segmentation
The Global Furniture Market is segmented into Products (Beds, Sofas & Couch, Table & Desks, Chairs & Stools, Wardrobe & Dressers, Others), Materials (Wood, Metal, Plastic, Glass, Others), Applications (Commercial, Residential) and Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa).
Regional Analysis
In 2022, the North American region dominated the global industry, accounting for more than 35.00% of total revenue. The presence of key service providers, increasing consumer preference for rental furniture due to flexibility, and the concept of a shared economy are driving the regional market growth. Rental furniture has grown in popularity in recent years, particularly among younger generations who value convenience, independence, and flexibility. Even well-known companies, such as Ikea, can lease furniture and transition to a circular economic model.
From 2022 to 2027, Asia Pacific is expected to have the fastest CAGR. The Asia Pacific regional market is rapidly developing and has enormous growth potential. The Gen-Z and millennial generations are driving the demand for rental furniture in the region because it allows them to frequently move, change places, and change careers while also providing them with access to fashionable designs. This demonstrates that consumers regard furniture rentals and subscriptions as a more sustainable option for maintaining flexibility and engaging in responsible consumption.
Key Players
The Key Players in the Global Furniture Rental Market are Feather, Rent mojo, Brook Furniture Rental, Rent-A-Center, Luxe Modern Rentals, The Everest, Furnished Inc., Author, Fashion Furniture Rental and Fuleco.
Market Taxonomy
Product
• Bed
• Sofa & Couch
• Table & Desks
• Chairs & Stools
• Wardrobe & Dressers
• Others
Material
• Wood
• Metal
• Plastic
• Glass
• Others
Application
• Commercial
• Residential
Regional Outlook
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and South Africa
Global Furniture Rental Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Furniture Rental Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Furniture Rental Market, By Product
5.1 Y-o-Y Growth Comparison, By Product
5.2 Furniture Rental Market Share Analysis, By Product
5.3 Furniture Rental Market Size and Forecast, By Product
5.3.1 Bed
5.3.2 Sofa & Couch
5.3.3 Table & Desks
5.3.4 Chairs & Tools
5.3.5 Wadrobe & Dressers
5.3.6 Others
6 Furniture Rental Market, By Material
6.1 Y-o-Y Growth Comparison, By Material
6.2 Furniture Rental Market Share Analysis, By Material
6.3 Furniture Rental Market Size and Forecast, By Material
6.3.1 Wood
6.3.2 Metals
6.3.3 Plastic
6.3.4 Glass
6.3.5 Others
7 Furniture Rental Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Furniture Rental Market Share Analysis, By Application
7.3 Furniture Rental Market Size and Forecast, By Application
7.3.1 Commercial
7.3.2 Residential
8 Furniture Rental Market, By Region
8.1 Furniture Rental Market Share Analysis, By Region
8.2 Furniture Rental Market Share Analysis, By Region
8.3 Furniture Rental Market Size and Forecast, By Region
9 North America Furniture Rental Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Furniture Rental Market Share Analysis, By Product
9.3 North America Furniture Rental Market Size and Forecast, By Material
9.4 North America Furniture Rental Market Size and Forecast, By Application
9.5 North America Furniture Rental Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Furniture Rental Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Furniture Rental Market Share Analysis, By Product
10.3 Europe Furniture Rental Market Size and Forecast, By Material
10.4 Europe Furniture Rental Market Size and Forecast, By Application
10.5 Europe Furniture Rental Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4. Rest of Europe
11 Asia Pacific Furniture Rental Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Furniture Rental Market Share Analysis, By Product
11.3 Asia Pacific Furniture Rental Market Size and Forecast, By Material
11.4 Asia Pacific Furniture Rental Market Size and Forecast, By Application
11.5 Asia Pacific Furniture Rental Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Furniture Rental Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Furniture Rental Market Share Analysis, By Product
12.3 Latin America Furniture Rental Market Size and Forecast, By Material
12.4 Latin America Furniture Rental Market Size and Forecast, By Application
12.4 Latin America Furniture Rental Market Size and Forecast, Country
12.5.1. Brazil
12.5.2. Rest of Latin America
13 Middle East Furniture Rental Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Furniture Rental Market Share Analysis, By Product
13.3 Middle East Furniture Rental Market Size and Forecast, By Material
13.4 Middle East Furniture Rental Market Size and Forecast, By Application
13.5 Middle East Furniture Rental Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Feather
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Rentomojo
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Brook Furniture Rental
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Rent-A-Center
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Luxe Modern Rentals
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 The Everest
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Fernished Inc.
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Athoor
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Fashion Furniture Rental
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Furlenco
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
