What will the Home Furniture Rental Market size and the growth rate be in 2024?
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 con
(EMAILWIRE.COM, November 25, 2017 ) 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.
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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.
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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
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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.
For Sample Pages please go through link below: https://www.researchnester.com/sample-request/2/rep-id-295
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.
Request For TOC:- https://www.researchnester.com/toc-request/1/rep-id-295
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
To Know More About This Research, Kindly Visit: https://www.researchnester.com/reports/furniture-rental-market-global-demand-analysis-opportunity-outlook-2024/295
Contact Information:
Research Nester
Ajay Daniel
Tel: +1 6465869123
Email us
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Research Nester
Ajay Daniel
Tel: +1 6465869123
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results