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Furniture Rental Market Size & Share 2021 – Global Business Review, Growth Strategy, Developing Technologies, Trends and Forecast by Regions 2030

In a recent published report, Kenneth Research has updated the market report for 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 Furniture Rental Market products.

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The Report Title 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., 2021-2024.

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 considering the dynamic nature of trends. Leasing furniture is about providing access and comfort to consumers who feels that these services are about both saving money and convenience. Emerging growth of e-commerce sector has made the process more convenient and affordable for the people to rent the furniture by going through various online channels.

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

Market size and forecast

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 time-frame. 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.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

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.

Key Players

The key players for furniture rental market are as follows:

CORT
Furlenco
Rentmojo
Churchill
Brook
AFR
Arenson
JMT

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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. 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.

Download Sample of This Strategic Report-:
https://www.kennethresearch.com/sample-request-10075450

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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