Appliances Rental Market Segmentation:
Appliances Type Segment Analysis
The home appliances segment for appliances rental market is estimated to gain a robust revenue share of 43% in the coming years owing to the constantly changing consumer behavior and higher convenience and flexibility. These appliances have low and sometimes no service and maintenance costs which act as a surge in the market while making them highly affordable. Due to this, the demand for rental services from lower-income groups, who are unable to purchase these appliances is increasing. Additionally, the increase in demand for home appliances including- Freezers, Microwave, Dishwashers, Cookers, Washing Machines, and others is increasing the rentability of these appliances.
Application Segment Analysis
The personal segment for the appliances rental market is expected to hold the highest share during the forecast period increased demand for rental services from lower-income groups and the shift in working culture i.e., work-from-home that has led to a surge in sales of personal home appliances demand and by 2025, the Indian demand for electronic appliances is expected to increase by billions of dollars. The business application segment, i.e., the use of appliance rental for commercial purposes, is also contributing to the growth of the appliances rental market through the increased demand for rental services from small businesses.
Distribution Channel Segment Analysis
The offline distribution channel segment in the appliances rental market held the largest revenue size in 2020 and is also estimated to grow during the forecasted period. The online distribution channel is expected to increase as the transformation of society from offline rentals to offline distribution channels. This transition is mainly attributed to the increase in the millennial population along with the rise of middle-class income families, mainly in developing countries. Apart from these, other factors such as ease of shipments, free coupons, and other maintenance benefits from online distribution channels act as a growth driver for this segment specifically.
Our in-depth analysis of the global appliances rental market includes the following segments:
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Appliances Type |
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Application |
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Distribution Channel |
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