Furniture Rental Market size was USD 59.9 billion in 2024 and is estimated to reach USD 149.5 billion by the end of 2037, expanding at a CAGR of 7.3% during the forecast period, i.e., 2025-2037. In 2025, the industry size of furniture rental is assessed at USD 64.2 billion.
The corporate sector is a major end user of furniture rental services, the companies rent furniture rather than purchase, especially to cut down infrastructure costs, during office relocations, or restructuring. This rental aspect enables businesses to maintain flexible workspaces without heavy capital investment in furniture assets. For instance, according to the Research Nester study, by 2037, the commercial segment is estimated to account for 60.9% of the rental furniture use.
Rent-A-Center a brand of Unbound Group, a leader in the furniture rental market revealed a total revenue earning of USD 1.06 billion in its third quarter 2024 report. Shared office spaces or co-working spaces are the most trending aspects benefiting furniture rental companies to earn high profits. Research Nester estimates that numerous people are working in co-spaces, driving sales of furniture rental services. Shared office spaces are designed to cater to various businesses, from start-ups to medium-sized enterprises and rental furniture is a perfect cost-effective option as these businesses can avoid long-term commitments and costly investments in office furnishing.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.3% |
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Base Year Market Size (2024) |
USD 59.9 billion |
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Forecast Year Market Size (2037) |
USD 149.5 billion |
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Regional Scope |
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Product (Bed, Sofa & Couch, Table & Desks, Chairs & Stools, Wardrobe & Dressers, Others (Ottomans, Kitchen Islands, Nightstands, Storage Benches))
Bed segment is anticipated to hold over 31.6% furniture rental market share by the end of 2037. The high prices of beds are major reasons why individuals are opting for rental options to cut upfront investment costs. Also, homeownership is increasingly becoming unaffordable due to high property prices and mortgage rates. This is making individuals moving to urban cities in search of jobs or education opt for the more viable option of renting. This factor is also directly augmenting the demand for cost-effective furniture rental solutions including beds.
Material (Wood, Metal, Plastic, Glass, Others (Vinyl, Leather))
By the end of 2037, wood segment is set to hold over 39.1% furniture rental market share. Wood rental furniture is often opted by end users due to its durability, strength, and natural aesthetics. Today, modern wood-based furniture can be easily assembled at the location into a finished product. This ease appeals to consumers as the furniture is delivered and set up quickly. Also, the home office trend is augmenting the demand for rental wooden furniture products such as chairs, tables, shelves, and cabinets, as individuals can set up a professional home office with limited upfront costs. China, India, Malaysia, and Vietnam are some of the lucrative marketplaces for wooden rental furniture, as consumers in these countries widely opt for wooden furniture compared to other materials.
Our in-depth analysis of the global furniture rental market includes the following segments:
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Product |
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Material |
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Application |
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North America Market Forecast
North America furniture rental market is projected to capture revenue share of around 35.5% by the end of 2037. The high presence of migrants, the popularity of the shared economy, and the existence of key service providers are positively influencing the market growth in the region. The young generation is the major contributor to the rental furniture demand.
In the U.S., the presence of renters is high as many people migrate to this developed economy in search of jobs, education, and a better standard of living. In September 2022, the U.S. Bureau of Labor Statistics revealed that over 44 million households in the country are living on rent. This information aids in understanding how the high rental population positively influences rental furniture sales growth, as this is the most cost-effective approach for this demographic.
Similar to the U.S., Canada witnesses a high presence of migrated people, mostly for educational purposes. For instance, according to Statistique Canada, around one-third of Canadians rent their primary residence. The students living on rent in the country for a short-term period, prefer investing in rental furniture rather than purchasing. Thus, the country is expected to witness a steady demand for rental furniture during the forecast period.
Asia Pacific Market Statistics
The Asia Pacific furniture rental market is driven by the increasing urban activities, expansion of industry giants, and shared office space trends. Corporate companies are highly investing in the co-space renting of offices and furniture as it offers long-term benefits without high upfront capital expenditure. Furthermore, the demand for rental furniture is set to expand at a healthy pace in India, China, Japan, and South Korea during the projected period.
In India, consumer views on purchasing furniture are changing unprecedently driven by their modified spending decisions. Rental furniture is emerging as easy and affordable options to set up their homes. The high price of properties, expensive mortgage loans, and the rise in the millennial population are collaboratively augmenting the adoption of furniture rental solutions in the country.
In China, the urbanization rates are consistently rising, which is increasing the demand for flexible living arrangements such as rental furniture. Young workers and international workers prefer renting furniture rather than purchasing long-term assets due to the transient nature of their stay. Furthermore, the increasing emergence of start-ups is set to promote the awareness of rental furniture in the country.
Key players in the furniture rental market are employing various tactics such as dynamic pricing models, new product offerings, expansion into high-potential regions, branding, and mergers & acquisitions. Subscription-based pricing is aiding companies to attract a wider consumer base. In this model, customers pay a fixed monthly fee for furniture use, which provides a predictable and consistent revenue stream for businesses and is attractive to customers with different budgets and lifestyles.
Expansion of product offerings keeps customers engaging as these platforms offer a one-stop shop for temporary home needs. Industry giants are increasingly targeting urban locations where mobility is high and people prefer renting more than owning. Furthermore, collaboration with furniture designers and real estate companies is aiding them to expand their furniture rental market reach and bring in new customers.
Some of the key players include:
Author Credits: Radhika Pawar
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