Furniture on Rent Market to Reach US$ 12.8 Billion by 2034, Expanding at 7.0% CAGR | Fact.MR Report

The global furniture on rent market, valued at US$ 6.5 billion in 2024, is projected to reach US$ 12.8 billion by 2034, growing at a CAGR of 7.0%. Driven by young professionals, students, and millennials prioritizing flexibility, the market benefits from rapid urbanization and the rise of remote work, boosting demand for home office furniture.

Wooden furniture holds a 24.6% share (US$ 1.6 billion in 2024), with a 6.6% CAGR. The U.S. market, valued at US$ 0.7 billion, is expected to grow at 7.4% CAGR, while China dominates East Asia with a 48.9% share. Challenges include high transportation costs and logistical complexities. Online sales, particularly through company-owned websites and e-commerce platforms, are key growth drivers.

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Market Analysis

The furniture on rent market grew from US$ 4.6 billion in 2019 to US$ 6.1 billion in 2023 at a CAGR of 7.0%, driven by the shift toward flexible, sustainable living solutions. Short-term growth (2024-2027) is fueled by co-living spaces, e-commerce convenience, and cost-effective rental options for transient populations. Medium-term (2027-2030), urbanization and the gig economy will sustain demand, particularly in urban areas with high rental housing. Long-term (2030-2034), economic uncertainties and circular economy models will further boost rentals as eco-friendly alternatives.

Residential applications dominate, but commercial demand grows with flexible workspaces. Logistical challenges, such as high delivery costs, may hinder affordability and market expansion.

Segment Analysis

The market is segmented by material type, rental cycle, application type, distribution channel, and region. Wooden furniture leads with a 24.6% share due to its durability and aesthetic appeal, growing at a 6.6% CAGR. Short-cycle rentals cater to transient lifestyles, while long-cycle rentals suit stable tenants.

Residential applications dominate due to urban mobility, but commercial rentals grow with co-working spaces. Online sales, via company-owned websites and e-commerce platforms, are expanding rapidly, driven by digital accessibility. North America and East Asia lead regionally, with South Asia & Pacific showing high growth potential due to urbanization.

Country-wise Insights

The U.S. market, valued at US$ 0.7 billion in 2024, grows at a 7.4% CAGR, driven by urbanization and flexible living trends among millennials. Canada follows similar patterns. In East Asia, China holds a 48.9% share, fueled by urban growth and affordable rental models. Western Europe, including Germany and the UK, benefits from strong rental cultures and sustainability preferences.

South Asia, particularly India, sees rising demand due to young professionals and co-living trends. Latin America and the Middle East & Africa lag due to logistical constraints and lower adoption rates.

Key Players
• Aaron's Inc.
• AFR Furniture Rental
• Asia Furniture Rental
• Brook Furniture Rental
• Casaflex
• Churchill Furniture Rental
• CORT (A Berkshire Hathaway Company)
• Feather
• Fernish
• Furlenco
• In-lease
• Rent-A-Center
• Rentomojo
• The Furniture Rental Company

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Strategic Outlook and Industry Trends

Key players are innovating to meet urban and millennial demands. In August 2023, Furlenco introduced premium furnishing packages and modular furniture for flexible subscriptions targeting young professionals. In June 2023, CORT launched eco-friendly furniture lines to appeal to environmentally conscious urban consumers.

Companies are leveraging digital platforms to enhance accessibility and customer experience. The market is driven by urbanization, remote work, and sustainability trends but faces challenges from high logistics costs and delivery complexities. Expansion into emerging markets and eco-conscious offerings will drive growth through 2034.

Segmentation of Furniture on Rent Market

By Material Type:
• Wood
• Plastic
• Metal
• Glass
• Other Material Types

By Rental Cycle:
• Short Cycle
• Long Cycle

By Application Type:
• Residential
• Commercial

By Distribution Channel:
• Offline Sales
• Company-owned Showrooms
• Furniture Retailers
• Other Offline Sales
• Online Sales
• Company-owned Websites
• E-Commerce Platforms

By Region:
• North America
• Latin America
• Western Europe
• Eastern Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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