Growth Factors of Furniture Rental Service Market
The global furniture rental service market is witnessing significant traction as consumers and businesses shift toward more flexible, sustainable, and cost-efficient solutions. According to Fortune Business Insights, the global furniture rental service market size was valued at USD 76.80 billion in 2022 and is projected to grow from USD 84.61 billion in 2023 to USD 149.80 billion by 2030, exhibiting a CAGR of 8.5% during the forecast period.
This surge is largely driven by urban mobility, evolving consumer lifestyles, increasing housing affordability challenges, and the demand for temporary, adaptable furnishing solutions in both residential and commercial spaces.
Market Dynamics Driving Growth
Several structural and behavioral shifts are pushing the demand for furniture rentals globally:
1. Millennial and Gen Z Lifestyle Preferences: These demographics are less inclined toward ownership and are more focused on experiences and convenience. Furniture rental offers the flexibility to upgrade, relocate, and personalize spaces without long-term commitments.
2. Urbanization and Frequent Relocations: With more professionals relocating for job opportunities and students moving for education, the demand for short-term furniture solutions is rising, especially in metropolitan areas.
3. Start-up Culture and Co-working Spaces: Small businesses and startups often face budget constraints. Furniture rentals provide a cost-effective way to design professional spaces without upfront capital expenditure.
4. Sustainability Trends: Renting reduces waste and promotes reusability. Consumers are increasingly aligning their purchase decisions with environmental consciousness, boosting demand for rental services that offer sustainable and refurbished furniture.
Residential vs. Commercial Demand
The residential segment dominates the furniture rental market, as consumers seek aesthetic and functional furnishings for short-term or temporary housing. Tenants, students, and individuals on work assignments are major contributors to this demand.
The commercial segment, including corporate offices, co-working hubs, and retail showrooms, is also gaining momentum. Businesses are leveraging rentals for agile expansion, short-term projects, and event setups, benefiting from the ease of access and return policies.
Technological Advancements and Online Platforms
Digital innovation is a crucial enabler in the industry. Furniture rental providers are investing in online platforms, mobile apps, and AR/VR technologies that allow users to visualize products in their spaces before renting. AI-powered recommendation systems and subscription-based pricing models are further enhancing the customer journey.
Moreover, the emergence of “furniture-as-a-service” (FaaS) models—where rental agreements include maintenance, delivery, and pickup—is redefining value propositions in the market.
Regional Outlook
North America holds a significant share of the global market, driven by a strong rental culture, high disposable incomes, and a mature commercial office sector.
Asia Pacific is expected to register the fastest growth due to rapid urbanization, high student and young professional populations, and increased digital penetration. India and China are emerging as key markets due to expanding start-up ecosystems and rising awareness of furniture rental platforms.
Europe is also growing steadily, particularly in urban areas where sustainability mandates and space constraints make rentals a more appealing alternative to ownership.
Key Players and Competitive Landscape
Leading companies operating in the global furniture rental service market include:
Furlenco
CORT (A Berkshire Hathaway Company)
Feather
Cityfurnish
Brook Furniture Rental
Rentomojo
Fernish
CasaOne
Inhabitr
The Everset
These players are focused on expanding their inventory portfolios, strengthening logistics networks, and offering value-added services such as customization, free delivery, and flexible tenures.
Conclusion
The furniture rental service market is rapidly evolving as consumers and businesses prioritize convenience, flexibility, and sustainability. With a market value expected to reach nearly USD 150 billion by 2030, driven by digital innovation and changing living standards, this sector presents significant opportunities for growth and disruption in the broader home and office furnishings industry.
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2024
Estimated Year 2025
Forecast Period 2025-2032
Historical Period 2019-2023
Growth Rate CAGR of 9.99% from 2025 to 2032
Unit Value (USD Billion)
Segmentation By Material
Wood
Metal
Plastic
Glass
Others
By Application
Commercial
Residential
By Region
North America (By Material, Application, and Country)
U.S. (By Material)
Canada (By Material)
Mexico (By Material)
Europe (By Material, Application, and Country)
Germany (By Material)
France (By Material)
Italy (By Material)
Spain (By Material)
U.K. (By Material)
Rest of Europe (By Material)
Asia Pacific (By Material, Application, and Country)
China (By Material)
India (By Material)
Japan (By Material)
Australia (By Material)
Rest of Asia Pacific (By Material)
South America (By Material, Application, and Country)
Brazil (By Material)
Argentina (By Material)
Rest of South America (By Material)
Middle East and Africa (By Material, Application, and Country)
UAE (By Material)
Saudi Arabia (By Material)
Rest of Middle East & Africa (By Material)
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