Wilmington, Delaware, Oct. 17, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Furniture Rental Market value is estimated at US$ 9,264.7 million in 2023 and is expected to rise at a strong CAGR of over 7.0% over the forecast period of 2023-2030
Market Definition, Market Scope, and Report Overview
The furniture rental firm comprises the temporary use of furniture items or sets for a price. Individuals and corporations can hire furniture for a variety of reasons, including temporary living, home staging, events, and offices. Instead of purchasing furniture completely, clients can rent it for a set period of time.
Customers may now browse various furniture alternatives, compare rates, and make rental orders online thanks to the advent of e-commerce and online furniture rental platforms. This convenience has greatly aided the growth of the furniture rental business.
- According to a deep-dive market assessment by RationalStat, the global furniture rental market has been analyzed on the basis of market segments, including product, material, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global furniture rental market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global furniture rental market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Furniture Rental Market: Segmental and Market Share Analysis
- Based on product, In 2022, the bed product segment led the global furniture rental market, accounting for more than 31.25% of total sales.
- Based on material, wood material segment led the global furniture rental market, accounting for more than 38.65% of total sales. Wood gives natural appeal to furniture while being lightweight and providing a strong basis for tables, desks, benches, chairs, beds, and other furnishings.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 9,264.7 million |
| Market Size Forecast | US$ 14,868.4 million |
| Growth Rate | 7.0% |
| Dominant Segment | Bed |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global furniture rental market include,
- In July 2021, Furlenco, an online furniture rental company, launched "UNLMTD," an annual subscription service that provides clients with all of the furniture and appliances they require all at once and at a single fee.
- In February 2021, Acima Holdings acquired by Rent-A-Center, Inc. Because of the united operation, clients take advantage of the company's versatile Lease-To-Own (LTO) solutions via e-commerce, digital, and mobile channels.
Some of the prominent players and suppliers operating and contributing significantly to the global furniture rental market growth include Furlenco, Rentomojo, Brook Furniture Rental, Rent-A-Center, Luxe Modern Rentals, The Everest, Fernished Inc., and Fashion Furniture Rental, among others.
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RationalStat has segmented the global furniture rental market based on product, material, application and region
- Global Furniture Rental Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product
- Bed
- Sofa & Couch
- Table & Desks
- Chairs & Stools
- Wardrobe & Dressers
- Others
- Global Furniture Rental Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Material
- Wood
- Metal
- Plastic
- Glass
- Others (Vinyl, Leather)
- Global Furniture Rental Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Residential
- Commercial
- Global Furniture Rental Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Furniture Rental Market
- US
- Canada
- Latin America Furniture Rental Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Furniture Rental Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Furniture Rental Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Furniture Rental Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Furniture Rental Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Furniture Rental Market
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Key Questions Answered in the Furniture Rental Report:
- What will be the market value of the global furniture rental market by 2030?
- What is the market size of the global furniture rental market?
- What are the market drivers of the global furniture rental market?
- What are the key trends in the global furniture rental market?
- Which is the leading region in the global furniture rental market?
- What are the major companies operating in the global furniture rental market?
- What are the market shares by key segments in the global furniture rental market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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