Press release
GCC Furniture Rental Market Estimated at 7.35% CAGR by 2030 | Top Leaders: ARREKA, Arena Group PLC, Innovative Hiring, Style Works, Risala Furniture
The GCC Furniture Rental Market is poised for significant growth, expected to expand at a CAGR of approximately 7.35% from 2024 to 2030. This growth is primarily driven by the rising demand from the hospitality and corporate sectors, large-scale events, and an increasing expatriate population seeking cost-effective and flexible furniture solutions. The consumer trend towards rental services aligns with economic shifts in real estate and a burgeoning e-commerce industry in the GCC region, making this market a lucrative investment opportunity for stakeholders and businesses alike.
GCC Furniture Rental Market Overview
The GCC Furniture Rental Market has emerged as a dynamic sector, demonstrating resilience in the face of evolving consumer preferences and economic landscapes. The region has witnessed a surge in hotel construction, restaurant openings, and corporate events, amplifying the demand for stylish and functional furniture rentals. As expatriates continue to flock to the GCC for work, there is a notable shift towards renting over buying, enabling flexibility and affordability for transient residents. This market presents substantial potential for growth, innovation, and diversification in furniture offerings.
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Key Objectives of the Report
◾ To analyze the current trends and future outlook of the GCC furniture rental market.
◾ To identify key drivers and challenges affecting market growth.
◾ To provide a comprehensive landscape of prominent companies and their market positioning.
◾ To forecast market size and share based on material, segment, and end-user.
◾ To assess the competitive strategies employed by market leaders.
Largest Furniture Rental Provider Companies in the GCC Market By 2030
The major companies operating in the GCC Furniture Rental Market include:
◾ AREEKA
◾ Arena Group PLC
◾ Innovative Hiring
◾ Style Works
◾ Risala Furniture
◾ CORT
◾ Chapter One
◾ Indigo Living Limited
◾ Lafeef
◾ The Furniture Rental Company
◾ Other Players
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GCC Furniture Rental Market Segmentation
◾ By Product Type: Indoor Furniture, [Bedroom Furniture, Dining Furniture, Office Furniture, Kitchen Furniture, Living Room Furniture, Storage Furniture], Outdoor Furniture
◾ By Type of Furniture: Bed, Sofa & Couch, Table & Desk, Chair & Stool, Wardrobes & Dresser, Others: Nightstand, storage benches, etc.
◾ By Material: Wood, Plastic, Others: Leather, Glass, Metal, etc.
◾ By End-Users: Residential, Offices, Healthcare Sector, Retail, Others: Government Agencies, Entertainment sector, etc.
Regional Insights
◾ The UAE
◾ Saudi Arabia
◾ Oman
◾ Qatar
◾ Kuwait
◾ Bahrain
The UAE dominates the GCC Furniture Rental Market with a considerable share during the period of 2019-2023. The UAE, particularly the major cities such as Abu Dhabi and Dubai, has substantial progression in the hospitality sector as the country is the hub for the major events relating to the cooperate conferences and the international sports.
Strategic Highlights
◾ Expanding e-commerce platforms provide easier access for customers to rental services.
◾ The rise of major international events enhances the need for rental furniture.
◾ Government initiatives in various GCC countries promote tourism and hospitality, driving demand.
◾ Increasing awareness of sustainability enhances the appeal of rental services.
◾ Rapid urbanization fuels the demand for rental furniture in metropolitan areas.
◾ A focus on interior decoration trends is influencing consumer preferences in furniture rental.
Key Reasons for Buying the GCC Furniture Rentals Market Report
◾ Gain comprehensive insights into market dynamics and trends.
◾ Understand competitive positioning and strategies of prominent players.
◾ Access data-driven forecasts to guide investment decisions.
◾ Identify growth opportunities in an evolving market landscape.
◾ Analyze consumer preferences in both residential and corporate sectors.
◾ Evaluate the impact of regulatory frameworks on market growth.
◾ Leverage insights for strategic planning and risk mitigation.
Questions Answered by the Report
◾ What is the GCC Furniture Rental market size and forecast?
◾ What is the market share of key players in the GCC Furniture Rental sector?
◾ Who are the top 7 companies in the GCC Furniture Rental market?
◾ What are the prevailing trends shaping the GCC Furniture Rental market?
◾ What are the essential statistics regarding the GCC Furniture Rental market?
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Table of Contents:
◾ Introduction
◾ Market Segmentation Overview
◾ Executive Summary
◾ Market Dynamics
◾ Competitive Landscape
◾ Company Profiles
◾ Regional Market Insights
◾ Key Trends and Developments
◾ Industry Challenges
◾ Growth Opportunities
◾ Market Forecast 2024-2030
◾ Conclusion
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Explore More Market Research Insights:
◾ The UAE and Saudi Arabia Furniture Market is projecting around 8.40% CAGR by 2026. (Source: https://www.marknteladvisors.com/research-library/uae-saudi-arabia-furniture-market.html )
◾ The Latin America Furniture Market size was valued at around USD 34.6 Billion in 2024 and is projected to reach USD 44 Billion by 2030. (Source: https://www.marknteladvisors.com/research-library/latin-america-furniture-market.html )
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About US:
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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