Frequently asked questions
In 2022, the market for residential furniture rental was estimated to be worth USD 25147.5 million.
The market for residential furniture rental is anticipated to increase at a CAGR of 12.36% from 2023 to 2030, reaching USD 63883.49 million in 2030.
The most widely used type of furniture is bedroom furniture.
Short-term rentals, by rental duration, are the notable segment.
During the projection period, the hospitality and event industry category is anticipated to exhibit the highest CAGR.
North America ruled the residential furniture rental market.
The top players include Furlenco, Cityfurnish, RentoMojo, Brook Furniture Rental, Cort, Luxe Modern Rentals, In-lease, The Lounge, Athoor, Asia Furniture Rental, and others.
The drivers accelerating the expansion of the residential furniture rental market are the rise in minimalism’s popularity, the growing need for flexibility, the need for diversity and customization, and rising mobility.
The challenges limiting the growth of the residential furniture rental market are the lower perceived quality, initial cost worries, a lack of customization, and hidden charges and agreements.
The residential furniture rental industry has a lot of potential opportunities due to factors including web-based integration, green living, the growing need for subscription-based services, and demand from professionals of all ages and students.