Demand For Furniture On Rent Is Set To Increase At A CAGR Of 7% By 2033

The global furniture on rent market is expected to grow at a high CAGR of 7%, from a valuation of US$ 6.1 billion in 2023 to US$ 12 billion by the end of 2033.

Long rental cycles, ranging from 18 months to more than two years, account for over 60% of furniture on rent revenue. When compared to short and custom cycles, long rental cycles provide more benefits. A long renting cycle also provides the renter with peace of mind. New users typically choose shorter cycles, and after a few months of obtaining satisfactory services, they upgrade to longer cycles.

According to Huurwoningen, a Dutch house planning firm, the Netherlands has over 3 million rental dwellings, with housing associations accounting for 75% of them. Low-income residents often look for accommodation in these homes.

The Netherlands has therefore emerged as a highly lucrative market for the furniture on rent industry, with low-income groups having a limited budget for purchasing household assets and housing associations preferring to furnish dwellings with low-maintenance household assets.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗮 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/connectus/sample?flag=S&rep_id=6820?PS

Furniture renting has been common in the U.S. and Canada hence both these countries exhibit the presence of several companies offering renting solutions in these countries. Some of the leading players in these markets are CORT, Aaron's LLC, Rent-A-Center, Feather, Brook Furniture Rental, Inc., Fernish, American Furniture Rental, and Fashion Furniture Rental, among others.

In Europe, Germany will emerge as a highly lucrative market backed by the presence of some of the leading brands in cities such as Hamburg, Stuttgart, Munich, Heidelberg, Berlin, and Frankfurt.

"With the rising cost of home assets, it is likely that next generation will rely heavily on renting their furniture to save cost of living. In addition, the rising interest of tier-2 city inhabitants in furniture rental is opening up new revenue streams for furniture on rent suppliers," said a Fact.MR analyst.

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗙𝘂𝗿𝗻𝗶𝘁𝘂𝗿𝗲 𝗼𝗻 𝗥𝗲𝗻𝘁 𝗠𝗮𝗿𝗸𝗲𝘁

The Netherlands is estimated to account for over 30% of overall Europe furniture on rent revenue owing to presence of leading furniture
manufacturers and rental providers such as IKEA and JMT International.

North America is anticipated to account for over 30% of total market share.

By rental model, furniture subscription generated over 3/4 of total revenue in 2020.

By rental cycle, long rental cycles accounts for over 60% of overall furniture on rent revenue.

By user type, commercial users are estimated to account for over 55% of total market share.

By business model, furniture on rent revenue through the buy and rent business model is expected to swell at a CAGR of 7.2%.

𝗚𝗿𝗼𝘄𝘁𝗵 𝗗𝗿𝗶𝘃𝗲𝗿𝘀:

Migration of national residents between states and cities is propelling furniture on rent market.
Rising inclination towards affordable furniture alternatives will drive market growth.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 :https://www.factmr.com/connectus/sample?flag=RC&rep_id=6820?PS

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗹𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲:

Key players are focusing on investment and various strategies to increase market revenue.

Tech-based start-ups like Credit Suisse, Zinnia Global Fund, CE Ventures, Lightbox, and Great North Labs, the industry is gaining traction and attracting investments from key propellers like Credit Suisse, Zinnia Global Fund, CE Ventures, Lightbox, and Great North Labs. Fulenco, Feather, Inhabitr, and RentoMojo are among players showcasing inclination for investment.

Furlenco secured US$ 140 million in a Series D investment round led by Mauritius-based Zinnia Global Fund, with CE Ventures and Lightbox as the other two investors, in July 2021.
Rentomojo secured US$ 1.3 million in Series C investment from two returning investors in March 2021.

Feather, a furniture-on-rent company based in the United States, got US$ 30 million in Series B investment from Credit Suisse in August 2020. Feather has previously raised $46 million in stock and loan funding.
RentoMojo secured US$ 2.9 million in a Series C investment round from Pratithi Investment Trust in June 2020.

𝗞𝗲𝘆 𝗽𝗹𝗮𝘆𝗲𝗿𝘀 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗳𝘂𝗿𝗻𝗶𝘁𝘂𝗿𝗲 𝗼𝗻 𝗿𝗲𝗻𝘁 𝗺𝗮𝗿𝗸𝗲𝘁 𝗶𝗻𝗰𝗹𝘂𝗱𝗲

• CORT
• JMT International
• Aaron's, LLC
• Rent-A-Center
• Thomas Rentals
• Feather
• Brook Furniture Rental, Inc.
• IKEA
• Fernish
• Lyght Living furniture leasing GmbH & Co. KG
• American Furniture Rental
• Fashion Furniture Rental
• Charter Furniture Rental
• Furniture Rentals
• Custom Furniture Rental
• The Attic
• Furlenco
• CityFurnish
• Inhabitr
• Fabrento
• Others

𝗠𝗼𝗿𝗲 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗼𝗻 𝗙𝘂𝗿𝗻𝗶𝘁𝘂𝗿𝗲 𝗼𝗻 𝗥𝗲𝗻𝘁 𝗠𝗮𝗿𝗸𝗲𝘁:

Fact.MR provides an unbiased analysis of furniture on rent market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the furniture on rent market with a detailed segmentation on the basis of:

Rental Model

• Individual Furniture
• Living Room Furniture
• Bedroom Furniture
• Dining Room Furniture
• Other Furniture Categories
• Furniture Subscription

Rental Cycle

• Short Cycle Furniture on Rent
• Day-based Furniture on Rent
• Monthly Furniture on Rent
• Quarterly Furniture on Rent
• Bi-Annually Furniture on Rent
• Annually Furniture on Rent
• Long Cycle Furniture on Rent
• 18 Months Furniture on Rent
• 2 Years Furniture on Rent
• 2.5 Year Furniture on Rent
• 3 Years Furniture on Rent
• More than 3 Years Furniture on Rent
• Custom Cycle Furniture on Rent

User Type

• Furniture on Rent for Residential Users
• Furniture on Rent for Commercial Users
• Corporate Users
• Hotels and Restaurants
• Educational Institutions
• Other Commercial Users
• Furniture on Rent for Occasion-based Users

Business Model

• Buy and Rent
• Rental Intermediates
• Manufacture and Rent

𝗚𝗲𝘁 𝗙𝘂𝗹𝗹 𝗔𝗰𝗰𝗲𝘀𝘀 𝗼𝗳 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/checkout/6820

𝗞𝗲𝘆 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗚𝗹𝗼𝗯𝗮𝗹 𝗙𝘂𝗿𝗻𝗶𝘁𝘂𝗿𝗲 𝗼𝗻 𝗥𝗲𝗻𝘁 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝗽𝗼𝗿𝘁

The report offers insight into furniture on rent demand outlook for 2021-2031
The market study also highlights projected sales growth of furniture on rent market between 2021 and 2031

Furniture on rent sales survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Furniture on rent market share analysis of the key companies within the industry and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, and others

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This release was published on openPR.