Appliances Rental Market Size

Appliances Rental Market size is poised to reach USD 249.65 Billion by the end of 2036, growing at a CAGR of 11.6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the appliances rental was USD 66.89 Billion. Over the past century, the growing demand for affordability, and the growth in the economic conditions, along with the continuously changing consumer lifestyle acts as a major growth driver for the rise in sharing the market. According to the World Economic Outlook, global growth will fall to 2.9% in 2023 but will rise to 3.1% in 2024.

There is an increasing demand for kitchen food processors such as espresso machines, and built-in appliances such as dishwashers or cooktops, according to the United Nations COMTRADE database, in March 2023, a US-based inter-governmental organization, Australia’s electrical equipment exports reached up to 3.6 billion sales in 2022, and this data raised about 87% from 6.6 million in 2014. Such demand and awareness are believed to fuel the appliances rental market growth.