The global furniture rental market size was estimated at USD 52.05 billion in 2022 and is projected to reach USD 89.68 billion by 2030, growing at a CAGR of 7.0% from 2023 to 2030. This robust growth in the furniture rental sector is largely driven by the rising popularity of the rental economy, which is influenced by changing cultural trends and evolving consumer ideologies that prioritize flexibility, sustainability, and cost-efficiency over traditional ownership.

Insights from the online rental industry report (2019-2023) highlight that various economic factors have fueled the expansion of the rental market. Consumers increasingly favor the flexibility, affordability, and wide variety of options offered by rental service providers compared to outright purchases. The rental model allows customers to access quality furniture without the high upfront costs, making it an attractive alternative in today’s economically cautious environment.

The COVID-19 pandemic played a significant role in accelerating demand for furniture rentals. With more than 60% of the global population required to work from home, there was a surge in interest in home improvement, remodeling, and renovation. This shift made furniture rental services, particularly those offering office-related furniture such as desks and chairs, essential to creating functional and comfortable home workspaces. Key providers in the industry noted a marked increase in rental demand from working professionals seeking to equip their homes for remote work.

Furthermore, the adoption of hybrid work models—where employees split time between home and office—is expected to sustain this demand in the long term. This shift in work culture is influencing purchasing behaviors, making furniture rental a preferred choice for many. Supporting this trend, companies like Fabrento, an Indian furniture rental provider, observed that both businesses and individual consumers in urban centers are increasingly renting ergonomically designed furniture. This furniture is aimed at improving productivity and comfort for remote workers.

An additional factor contributing to the growing appeal of furniture rental is the availability of flexible payment options, including monthly and yearly subscription plans. Such payment models align well with consumer preferences for manageable expenses without long-term financial commitments, enhancing the attractiveness of renting over buying.

Recognizing this trend, key market players such as Furlenco, Rentomojo, and Feather have introduced new product categories focused on work-from-home furniture, directly responding to the increasing demand driven by remote and hybrid working environments. These companies continue to innovate their offerings to capture a growing customer base seeking convenient, cost-effective, and stylish furniture rental solutions.

Key Market Trends & Insights:

• In 2022, the North American region emerged as the dominant player in the global furniture rental industry, capturing the largest market share of over 35.00% of the total revenue generated worldwide. This substantial share reflects the region’s well-established rental economy, high consumer demand for flexible furniture solutions, and a growing preference for rental services among both residential and commercial customers.

• When analyzing the market by product category, the bed products segment led the global industry in 2022, accounting for the highest revenue share of more than 31.25% of the overall market. This segment’s dominance can be attributed to the fundamental need for beds in both residential and commercial settings, combined with the convenience and affordability that rental options provide to consumers who seek flexible living arrangements or temporary furnishing solutions.

• Looking at the market from a material perspective, wood stood out as the leading choice, with the wood material segment dominating the global furniture rental industry in 2022. This segment accounted for the largest share of over 38.65% of the total revenue. Wood’s popularity is driven by its durability, aesthetic appeal, and versatility, making it a preferred material for a wide range of furniture products, especially in rental markets where long-lasting quality is essential.

• In terms of application, the commercial segment was the clear leader in 2022, commanding the largest share of more than 60.45% of the total industry revenue. This highlights the extensive use of rented furniture in commercial environments such as offices, hotels, event venues, and other business establishments. The preference for rental furniture in these settings is often motivated by the need for cost-effective, scalable, and flexible furnishing solutions that can adapt to changing business requirements and reduce capital expenditure.

Order a free sample PDF of the Furniture Rental Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

• 2022 Market Size: USD 52.05 Billion

• 2030 Projected Market Size: USD 89.68 Billion

• CAGR (2023-2030): 7.0%

• North America: Largest market in 2022

• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights:

The global furniture rental industry is characterized by intense competition, with a diverse array of companies actively offering a wide variety of products tailored for rental purposes. To strengthen their positions and capture larger market shares, many leading players are intensifying their efforts by focusing on new product launches, forging strategic partnerships, and expanding their footprints into emerging and untapped markets. These initiatives are designed to meet evolving consumer demands and to differentiate themselves in a crowded marketplace.

For example, in July 2021, Furlenco, a prominent online furniture rental service, launched an innovative offering called “UNLMTD”. This service is a yearly subscription model that allows customers to access the furniture and appliances they desire simultaneously, all bundled into a single fixed price. This approach simplifies the rental process for customers by providing flexibility and convenience, appealing especially to those who prefer hassle-free, all-inclusive furniture solutions.

Another significant development occurred in February 2021, when Rent-A-Center, Inc. acquired Acima Holdings. This strategic acquisition enhanced Rent-A-Center’s service portfolio by enabling customers to benefit from flexible Lease-To-Own (LTO) solutions across multiple platforms, including e-commerce, digital, and mobile channels. By combining the strengths of both companies, Rent-A-Center expanded its reach and improved the accessibility of its rental offerings, positioning itself more competitively in the digital marketplace.

Key Players

• Furlenco

• Feather

• Rentomojo

• Brook Furniture Rental

• Rent-A-Center

• Luxe Modern Rentals

• The Everest

• Fernished Inc.

• Athoor

• Fashion Furniture Rental

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion:

The furniture rental market is experiencing strong growth driven by increasing demand for flexible, affordable, and convenient furnishing solutions. Factors such as the rise of the rental economy, growing remote work trends, and changing consumer preferences toward sustainability and cost-efficiency are fueling market expansion. Companies are focusing on innovation, expanding product offerings, and leveraging digital platforms to capture new customers and enhance their market presence.