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The global furniture rental service market size was valued at USD 72.50 billion in 2022. Fortune Business Insights™ in its report titled “Furniture Rental Service Market Size, Share & Industry Analysis, By Material (Wood, Plastic, Metal, Glass, and Others), By Application (Residential and Commercial), and Regional Forecasts, 2023-2030” observes that the market is projected to grow from USD 77.81 billion in 2023 to 142.91 billion by 2030, exhibiting a CAGR of 9.07% during the forecast period. The high number of residential and commercial settings has escalated the needed for furniture rental services. Furthermore, people prefer using subscription-based furniture renting services over buying furniture as it is economical and a wide variety of items is available. These factors are responsible for market augmentation.
WeWork and Feather to Join Forces to Provide Rental Workplace Furniture in 35 Major Markets across the U.S.
In October 2021, WeWork, a leading flexible space provider, announced its decision to partner with U.S.-based furniture rental services provider, Feather. Under this deal, Feather’s stylish workplace furniture collection will be available to WeWork members in more than 35 major markets in the U.S. Moreover, after the successful pilot program in New York, the companies developed a custom Office Builder tool, which enables WeWork members to design their office using Feather furniture. The tool also provides several layout options and curated office bundles to choose from. Once the user selects a bundle, Feather provides seamless delivery and installation.
Implementation of Work-From-Home Policies Amid COVID-19 Pandemic Aided Market Proliferation
The COVID-19 outbreak caused the implementation of stringent nationwide lockdowns and social distancing norms. Schools and offices were closed and people started working remotely from home to control the spread of the virus. This factor significantly boosted consumer demand for rented furniture items to fulfill their home-office furniture needs. As per data published by Glassdoor, Glassdoor’s online job searches for work-from-home (WFH) positions jumped by a 460% between June 2019 and 2021. Furthermore, the rising trend of renting furniture and other essential products amid pandemic further escalated market expansion.
Innovative Marketing Campaigns Adopted by Industry Leaders to Aid Market Augmentation
Renowned companies in this domain are conducting promotional events to increase customer interest in adopting furniture rental services. For example, in January 2019, RentoMojo, India's leading rental solutions provider, started a video campaign to target the Indian youth who are relocating for better career prospects. This video campaign showcased scenarios related to the relocation hassles of households. It aimed to provide practical and effortless way of subscribing the company’s furniture renting and swapping services. Thus, the innovative marketing campaigns adopted by industry leaders will drive the furniture rental service market growth.
On the other hand, limited awareness regarding the availability of furniture rental services especially among geriatric populace will pose as a challenge for industry stakeholders.
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Partnerships Between Leading Companies to Drive Market Growth
Leading companies in the global market are focused on strengthening their foothold in the domain by adopting tactical strategies. One such strategy is partnering with other companies in this domain to expand geographical reach, improve product portfolio, and expand customer base. For example, in April 2021, Chair-man Mills Corp., Canada's leading event rental provider, announced plans to partner with Contemporary Furniture Rentals Inc. The transaction represents an amalgamation of two leading event service providers in Canada. This partnership will enable customers to benefit from a wider array of décor offerings and furniture options along with exceptional customer service.
Notable Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
CAGR of 9.07% from 2023 to 2030
Value (USD Billion)
North America (By Material, Application, and Country)
Europe (By Material, Application, and Country)
Asia Pacific (By Material, Application, and Country)
South America (By Material, Application, and Country)
Middle East and Africa (By Material, Application, and Country)