Furniture Rental Service Market Share, Size, Trends, Industry Analysis Report, By Material (Wood, Metal, Plastic, Glass, and Others); By Product; By Application; By Region; Segment Forecast, 2024 – 2032

Furniture Rental Service Market Share, Size, Trends, Industry Analysis Report, By Material (Wood, Metal, Plastic, Glass, and Others); By Product; By Application; By Region; Segment Forecast, 2024 – 2032

The global furniture rental service market size is expected to reach USD 106.34 billion by 2032, according to a new study by Polaris Market Research. The report “Furniture Rental Service Market Share, Size, Trends, Industry Analysis Report, By Material (Wood, Metal, Plastic, Glass, and Others); By Prduct; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rapid increase in the demand for urban housing, the constantly booming global housing population, and the drastic shift in consumer perspective way of living coupled with the emergence of renting furniture as a cost-effective option to utilize high-quality and comfortable furnishings are the prominent factors driving its market growth. Additionally, the significant upsurge in residential and commercial infrastructural settings all over the world, with customers preferring subscription-based furniture rental services to regularly change the look of their spaces without investing a significant amount, will also propel the market’s growth in the near future.

For instance, in February 2022, Nornorm announced the launch of its subscription-based furniture rental service, including three different subscription packages. It includes a full office design service, a partial office redesign, and one for home offices.

In recent years, with the growing sustainability awareness, several rental service provider companies have been emphasizing eco-friendly practices like recycling and reusing furniture to reduce waste and help protect the environment. Also, some companies are significantly focusing on highlighting the environmental benefits of using furniture rental services, like reducing waste and promoting a cleaner and circular economy, which, in turn, helps companies to cater to environmentally friendly consumers.

Furthermore, the constantly growing demand for flexible office spaces and the continuous rise of remote work all over the world, mainly after the COVID pandemic, coupled with technological innovations, including the integration of virtual reality and augmented reality in furniture rental services by leading market companies with the aim to differentiate themselves in this competitive market and lead to increased revenue and sales, are also likely to bode well for market growth at a significant pace in the coming years.

Furniture Rental Service Market Report Highlights

The wood segment accounted for the noteworthy market share, mainly due to greater demand for wooden furniture products due to their durability and low maintenance

The bed segment held the majority market revenue share on account of greater proliferation for temporary living among individuals and newly married couples

The residential segment will grow at the highest growth rate, which is mainly attributable to the rising number of people adopting it as a cost-effective option over purchasing expensive furniture

North America dominated the global market with a considerable share, owing to higher awareness about the availability of such services and their several benefits

The key market players include Fashion Furniture Rental, Luxe Modern Rental, Apartment List, Aaron’s LLC, Brook Furniture Rental, and CORT Business Services

Polaris Market Research has segmented the furniture rental service market report based on material, product, application, and region:

Furniture Rental Service, Material Outlook (Revenue - USD Billion, 2019 - 2032)

Wood

Metal

Plastic

Glass

Others

Furniture Rental Service, Product Outlook (Revenue - USD Billion, 2019 - 2032)

Bed

Sofa & Couch

Table & Desks

Chairs & Stools

Wardrobe & Dressers

Others

Furniture Rental Service, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Commercial

Residential

Furniture Rental Service, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa