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India Furniture Rental Market By Category (Residential Furniture Rental, Office Furniture Rental, Hospitality & Institutional Furniture Rental, Others (Event Furniture Rental, etc.)), By Tenure (Up to 1 year, 1-2 years, Over 2 years) By Distribution Channel (Offline, Online) By Region, Competition, Forecast & Opportunities, 2029

September 2023 | 85 pages | ID: I92AFECB2B88EN
TechSci Research

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The India Furniture Rental Market is growing at a robust growth rate owing to cost effectiveness, changing lifestyle of Indian consumers, and availability of affordable furniture rental options.

India Furniture Rental Market Scope

Furniture rental refers to a service where customers can rent furniture for a specified period, typically ranging from a few weeks to a few years.

Residential furniture rental refers to a service where customers can rent furniture for their homes on a short-term or long-term basis. Residential furniture rental companies offer a wide range of furniture options, including sofas, beds, tables, chairs, and home decor items, which can be customized to meet the specific needs and preferences of the customers.

Office furniture rental refers to a service where companies can rent furniture for their office spaces on a short-term or long-term basis. Office furniture rental companies offer a wide range of furniture options, including desks, chairs, tables, cabinets, and other office accessories.

Hospitality and institutional furniture rental refer to a service where hotels, resorts, and other institutional customers can rent furniture for their businesses or events on a short-term or long-term basis.

India Furniture Rental Market Overview

The India Furniture Rental Market is a rapidly growing industry that provides customers with the flexibility and convenience of renting furniture for their homes or offices. The market has seen significant growth in recent years, driven by factors such as growing population of nuclear families, changing consumer preferences, and the rise of sharing economy. As more people choose to rent rather than buy, rental companies are catering to this demand by offering a wide range of furniture options at affordable prices. Additionally, the convenience of online rental platforms has made it easier for customers to rent furniture from the comfort of their homes.

Moreover, the India Furniture Rental Market is the rise of co-living and co-working spaces. These spaces require flexible furniture rental solutions that can adapt to changing needs and preferences. Rental companies are offering customized furniture solutions for co-living and co-working spaces, enabling them to cater to the unique needs of their customers.

The India Furniture Rental Market faces several challenges, including logistics, trust, and regulatory issues. However, these challenges have not prevented the market from growing at a rapid pace. As the market continues to evolve and adapt to changing consumer preferences and market dynamics, the India Furniture Rental Market is poised for continued growth in the coming years.

India Furniture Rental Market Drivers

The India Furniture Rental Market has witnessed a significant surge in recent years, driven by various factors, one of the primary drivers of this growth is the rapid urbanization of the country. As more people move into cities, the demand for flexible and affordable furniture solutions has increased. Renting furniture offers customers the flexibility to change their furniture as per their needs without incurring the high costs of buying new furniture each time they move. Another key driver of the furniture rental market in India is the changing lifestyle of Indian consumers. The younger generation is more inclined towards the latest furniture designs and trends. Renting furniture provides them with the opportunity to experiment with various designs without having to spend a lot of money. This has created a massive demand for furniture rental services among millennials and Generation Z, who prefer to rent furniture instead of owning it. The cost-effectiveness of furniture rental services is a significant factor driving the market's growth.

Renting furniture is much cheaper than buying it outright, especially for those who are on a tight budget or do not plan to stay in one place for a long time. Additionally, renting furniture eliminates the need for customers to spend money on transportation, assembly, and maintenance costs, making it an attractive option for many. Convenience is another significant driver of the furniture rental market in India. Renting furniture provides a hassle-free solution for customers, who can avoid the stress of moving and assembling furniture themselves. Rental companies take care of everything from delivery to installation, allowing customers to focus on other important aspects of their lives.

India Furniture Rental Market Trends

The India Furniture Rental Market has been witnessing several trends in recent years, driven by changing consumer preferences and market dynamics. One of the most significant trends is the rise of online rental platforms, which have made it easier for customers to rent furniture from the comfort of their homes. The growth of e-commerce has led to increased competition among rental companies, resulting in better prices, more extensive product ranges, and improved customer service.

Another trend in the India Furniture Rental Market is the increasing popularity of customized furniture. As more customers seek unique and personalized furniture solutions, rental companies are offering a wide range of customization options. This trend has been particularly noticeable among millennials and Generation Z, who prefer furniture that reflects their individual style and personality. Sustainability is a growing trend in the India Furniture Rental Market. With more consumers becoming aware of the environmental impact of furniture production and disposal, rental companies are offering eco-friendly options such as recycled or upcycled furniture. This trend has been well-received by environmentally conscious customers who are willing to pay more for sustainable furniture options.

India Furniture Rental Market Challenges

Despite the rapid growth of the India Furniture Rental Market, there are several challenges that rental companies face. One of the significant challenges is the lack of awareness among potential customers. Many people in India are still unaware of the benefits of renting furniture and may prefer to buy it outright. Rental companies must invest in marketing and education initiatives to increase awareness of the benefits of renting furniture. Another significant challenge for rental companies in India is the issue of trust.

Customers may be hesitant to rent furniture from unfamiliar companies, especially if they have had negative experiences with rental services in the past. Logistics is a significant challenge for the India Furniture Rental Market. Delivery and installation can be challenging, particularly in densely populated urban areas. Rental companies must have an efficient logistics network to ensure timely and cost-effective delivery and installation of furniture.

Market Opportunities

Furniture rental companies can focus on expanding their services beyond just renting furniture, by partnering with real estate developers to provide furnished apartments, targeting the corporate sector, and offering sustainable furniture options. Leveraging technology can help improve customer experience and differentiate companies in a crowded market. With the right strategies in place, furniture rental companies in India can tap into a growing market and drive continued success in the years to come.

Market Segmentation

The India Furniture Rental Market is segmented based on category, tenure, distribution channel, and region. Based on category the market is segmented into residential furniture rental, office furniture rental, hospitality & institutional furniture rental, and others like event furniture rental, etc. Based on tenure, the market is segmented into up to 1 year, 1-2 years, and over 2 years. Based on distribution channel, the market is segmented into online and offline. Based on region, the market is divided into north, south, east, west.

Company Profiles

Edunetwork Private Limited (Rentomojo), Cityfurnish India Private Limited, Kieraya Furnishing Solutions Pvt. Ltd. (Furlenco), AVA Lifestyle Products & Services Pvt. Ltd. (Rentickle), Pepperfry Limited, Rentomania Private Limited (Fabrento), Guarented Rental Private Limited, VOKO.com, RentMacha, and rentsewa.com are some of the major players in the India Furniture Rental Market.

Report Scope:

In this report, India Furniture Rental market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
  • India Furniture Rental Market, By Category:
    • Residential Furniture Rental
    • Office Furniture Rental
    • Hospitality & Institutional Furniture Rental
    • Others
  • India Furniture Rental Market, By Tenure:
    • Up to 1 year
    • 1-2 years
    • Over 2 years
  • India Furniture Rental Market, By Distribution Channel:
    • Offline
    • Online
  • India Furniture Rental Market, By Region:
    • North
    • West
    • South
    • East
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Furniture Rental market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
1. Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments

4. VOICE OF CUSTOMER ANALYSIS

4.1. Brand Awareness
4.2. Challenges Faced

5. INDIA FURNITURE RENTAL MARKET OUTLOOK

5.1. Market Size & Forecast
  5.1.1. By Value
5.2. Market Share & Forecast
  5.2.1. By Category Market Share Analysis (Residential Furniture Rental, Office Furniture Rental, Hospitality & Institutional Furniture Rental, and Others (Event Furniture Rental, etc.))
  5.2.2. By Tenure Market Share Analysis (Up to 1 year, 1-2 years, and Over 2 years)
  5.2.3. By Distribution Channel Market Share Analysis (Offline and Online)
  5.2.4. By Region Market Share Analysis
    5.2.4.1. North India Market Share Analysis
    5.2.4.2. West India Market Share Analysis
    5.2.4.3. South India Market Share Analysis
    5.2.4.4. East India Market Share Analysis
  5.2.5. By Top 5 Companies Market Share Analysis, Others (2023)
5.3. India Furniture Rental Market Mapping & Opportunity Assessment
  5.3.1. By Category Market Mapping & Opportunity Assessment
  5.3.2. By Tenure Market Mapping & Opportunity Assessment
  5.3.3. By Distribution Channel Market Mapping & Opportunity Assessment
  5.3.4. By Region Market Mapping & Opportunity Assessment

6. INDIA RESIDENTIAL FURNITURE RENTAL MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value
6.2. Market Share & Forecast
  6.2.1. By Type Market Share Analysis (Beds, Sofa, Wardrobe, Dining Set, and Others (Standalone Tables, Chairs, Cabinets, etc.))
  6.2.2. By Tenure Market Share Analysis
  6.2.3. By Distribution Channel Market Share Analysis

7. INDIA OFFICE FURNITURE RENTAL MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Type Market Share Analysis (Chairs, Workstations, Cabinets & Lockers, and Others (Desks, Conference Tables, Reception Counters, Bookshelves, Sofas, etc.))
  7.2.2. By Tenure Market Share Analysis
  7.2.3. By Distribution Channel Market Share Analysis

8. INDIA HOSPITALITY & INSTITUTIONAL FURNITURE RENTAL MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Type Market Share Analysis (Chairs, Beds, Desks, Tables and Others (Cabinets & Lockers, Sofas, etc.))
  8.2.2. By Tenure Market Share Analysis
  8.2.3. By Distribution Channel Market Share Analysis

9. MARKET DYNAMICS

9.1. Drivers
  9.1.1. Growing e-commerce industry
  9.1.2. Increasing working class population
  9.1.3. Cost-Effectiveness
9.2. Challenges
  9.2.1. Increasing Competition
  9.2.2. Lack of Awareness

10. MARKET TRENDS & DEVELOPMENTS

10.1. Availability of Customization
10.2. Sustainable and eco-friendly options
10.3. Subscription-based models
10.4. New product launches in Furniture Rental market
10.5. Online rental platforms

11. SWOT ANALYSIS

11.1. Strengths
11.2. Weaknesses
11.3. Opportunities
11.4. Threats

12. POLICY & REGULATORY LANDSCAPE

13. INDIA ECONOMIC PROFILE

14. COMPETITIVE LANDSCAPE

14.1. Company Profiles
  14.1.1. Edunetwork Private Limited (Rentomojo)
    14.1.1.1. Company Details
    14.1.1.2. Product
    14.1.1.3. Financials (As Per Availability)
    14.1.1.4. Key market Focus & Geographical Presence
    14.1.1.5. Recent Developments
    14.1.1.6. Key Management Personnel
  14.1.2. Cityfurnish India Private Limited
    14.1.2.1. Company Details
    14.1.2.2. Product
    14.1.2.3. Financials (As Per Availability)
    14.1.2.4. Key market Focus & Geographical Presence
    14.1.2.5. Recent Developments
    14.1.2.6. Key Management Personnel
  14.1.3. Kieraya Furnishing Solutions Pvt. Ltd. (Furlenco)
    14.1.3.1. Company Details
    14.1.3.2. Product
    14.1.3.3. Financials (As Per Availability)
    14.1.3.4. Key market Focus & Geographical Presence
    14.1.3.5. Recent Developments
    14.1.3.6. Key Management Personnel
  14.1.4. AVA Lifestyle Products & Services Pvt Ltd (Rentickle)
    14.1.4.1. Company Details
    14.1.4.2. Product
    14.1.4.3. Financials (As Per Availability)
    14.1.4.4. Key market Focus & Geographical Presence
    14.1.4.5. Recent Developments
    14.1.4.6. Key Management Personnel
  14.1.5. Pepperfry Limited
    14.1.5.1. Company Details
    14.1.5.2. Product
    14.1.5.3. Financials (As Per Availability)
    14.1.5.4. Key market Focus & Geographical Presence
    14.1.5.5. Recent Developments
    14.1.5.6. Key Management Personnel
  14.1.6. Rentomania Private Limited (Fabrento)
    14.1.6.1. Company Details
    14.1.6.2. Product
    14.1.6.3. Financials (As Per Availability)
    14.1.6.4. Key market Focus & Geographical Presence
    14.1.6.5. Recent Developments
    14.1.6.6. Key Management Personnel
  14.1.7. Guarented Rental Private Limited
    14.1.7.1. Company Details
    14.1.7.2. Product
    14.1.7.3. Financials (As Per Availability)
    14.1.7.4. Key market Focus & Geographical Presence
    14.1.7.5. Recent Developments
    14.1.7.6. Key Management Personnel
  14.1.8. VOKO.com
    14.1.8.1. Company Details
    14.1.8.2. Product
    14.1.8.3. Financials (As Per Availability)
    14.1.8.4. Key market Focus & Geographical Presence
    14.1.8.5. Recent Developments
    14.1.8.6. Key Management Personnel
  14.1.9. RentMacha
    14.1.9.1. Company Details
    14.1.9.2. Product
    14.1.9.3. Financials (As Per Availability)
    14.1.9.4. Key market Focus & Geographical Presence
    14.1.9.5. Recent Developments
    14.1.9.6. Key Management Personnel
  14.1.10. rentsewa.com
    14.1.10.1. Company Details
    14.1.10.2. Product
    14.1.10.3. Financials (As Per Availability)
    14.1.10.4. Key market Focus & Geographical Presence
    14.1.10.5. Recent Developments
    14.1.10.6. Key Management Personnel

15. STRATEGIC RECOMMENDATIONS/ACTION PLAN

15.1. Key Focus Areas
15.2. Target Category
15.3. Target Distribution Channel

16. ABOUT US & DISCLAIMER

(Note: The companies list can be customized based on the client requirements.)


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