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Commercial and Residential Furniture Rental Market Share 2021: Developing Growth Factors, Global Size and Research Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Commercial and Residential Furniture Rental Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Commercial and Residential Furniture Rental Market products.

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The Report Title Commercial and Residential Furniture Rental Market has been added by Kenneth Research, provides detailed insights of the market scenario which is further classified on the basis of market size and market volume, along with the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2021-2025.

The global Commercial Furniture Rental Market reached USD 13,066.55 Million in 2018. In addition, the market is expected to garner USD 33,861.19 Million by the end of 2025 by registering a CAGR of 14.89% across the globe. The global demand for Commercial Furniture Rental is increasing due to significant growth of service sector in the region. Transformation and generation of startup ecosystem in countries such as India, China, Malaysia, Singapore, Indonesia, Bangladesh South Africa, Estonia, Lithuania, Latvia and Brazil, rapid urbanization, growth of hospitality industry, rise in gross tourist turnout catalyzing the growth of rental furniture market over the forecast period.

“The CAGR value Could change due to COVID-19 Pandemic on Global Industry”

The global residential Furniture Rental Market reached USD 7,787.92 Million in 2018. In addition, the market is expected to garner USD 16,844.48 Million by the end of 2025 by registering a CAGR of 11.75% across the globe. Rapid urbanization in developing countries is coherently responsible for the growth of global residential furniture rental market over the forecast period.

Asia Pacific is slated to account highest share of 47.33% by 2025 in the Commercial Furniture Rental market. The growth in the region can be attributed to the rapidly growing demand from developing economies such as China & India. This is followed by the European region which is expected to account for 26.45% by the year 2025 mostly due to high demand generated from countries such as Germany and U.K. gathering for USD 685.56 Million & USD 555.55 Million respectively in the year 2018.

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“The Final Report will cover the impact analysis of COVID-19 on this industry.”

Within the residential furniture rental market, Asia Pacific region is witnessing an accelerated rate of construction related activities to address the demands of the constantly rising urban population. This is resulting in the region capturing overall market share of 53.14% in the year 2018.
Within the commercial rental furniture segment by product, the market for rental sofas is expected to grow at the highest CAGR 15.42% and is expected to capture a market size of USD 2,200.99 Million by the year 2025.

In the residential rental furniture segment by product, the market for rental wardrobes is expected to grow at the highest CAGR 13.51% and is expected to capture a market size of USD 1,226.61 Million by the year 2025. The online distribution channels are expected to rise at the highest rate with a CAGR of 16.06% in the commercial rental furniture market and 12.52% in the residential rental furniture market over the forecast period of 2019-2025

Download Sample of This Strategic Report-:
https://www.kennethresearch.com/sample-request-10094788

About Kenneth Research:

Kenneth Research is a reselling agency that provides market research reports which consist of various insights into the market for investors and companies willing to expand their businesses in industries such as Healthcare and Pharmaceuticals, Chemicals, ICT and Telecom, Energy and Power, Automotive and Transportation and several others. Our collaboration with a number of market research publishers allows our buyers to fulfill all their requirements by understanding the research objective and providing information on all research areas including regions and market segments.

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James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology

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