The furniture leased for a brief period of time is known as rental furniture. It makes furniture accessible to both people and companies without requiring them to pay for it up front or make a long-term commitment. As an alternative to making investments in long-term furniture purchases, the rental furniture market offers customers options for both short- and long-term needs which is time saving and convenient. If someone moves around a lot, it's a viable preference. A large variety of furniture choices are usually available from rental furniture businesses, including office and home furnishings including desks and chairs as well as furniture for dining rooms, living rooms, refrigerators and others.
According to SPER market research, ‘GCC Rental Furniture Market Size- By Product Type, By Type of Furniture, By Material, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the GCC Rental Furniture Market is predicted to reach USD XX billion by 2033 with a CAGR of 7.58%.
The GCC serves as the hub for a variety of gatherings, conferences, trade shows, and exhibitions. A significant quantity of event furniture, such as chairs, tables, booths, and décor, would be required for this. Therefore, impending events serve as a catalyst, creating a sizable potential market for furniture rental businesses throughout the GCC. Due to notable increase in interior designing in the region, customers desire to update their furniture to reflect the newest styles. As a result, renting furniture has become a popular and adaptable way to get the required design. The building of residential and commercial properties has increased in the GCC region in recent years in the major countries. Due to the wide variety of budgets and varying tastes, the need for furniture rental emerges. All these propel GCC rental furniture market expansion.
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Inadequate knowledge about furniture rental and subpar advertising has a detrimental effect on the growth of the market in the GCC. The general public's ignorance of furniture leasing services causes consumers to continue using the more conventional strategy of purchasing pricey furniture outright. This impacts the prospective expansion of the local furniture rental industry. Moreover, a noteworthy obstacle is the apparent lack of confidence among prospective clients. Customers believe rental furniture is created from old materials, which raises more questions about its quality. Thus. It functions as a deterrent, reducing the likelihood of furniture rental demand in the GCC.
Due to the early limitations and shutdown during the COVID 19 pandemic, the furniture sector in the GCC was severely hit. There have been instances where personnel sickness absences and illness have slowed down production process and output. The length of time required for customer deliveries increased as well because of an inadequate supply of certain goods, such as wood and fabrics. Since the majority of furniture in the GCC is imported, during the outbreak years, furniture imports for practically all nations was declined. On the other hand, as more professionals favored remote work during the pandemic, the demand for rental furniture market increased.
GCC Furniture Rental Market Key Players:
The UAE dominates the GCC furniture rental market as a result of the industry's significant growth in the hospitality and healthcare industries. The leading market players in the GCC furniture rental market include ARREKA, Arena Group PLC, Innovative Hiring, Style Works, Risala Furniture, and others.
GCC Furniture Rental Market Segmentation:
By Product Type: Based on the Product Type, GCC Furniture Rental Market is segmented as; Indoor Furniture, Outdoor Furniture.
By Type of Furniture: Based on the Type of Furniture, GCC Furniture Rental Market is segmented as; Bed- Market , Chair Stool, Sofa Couch, Table Desk, Wardrobes Dresser, Others.
By Material: Based on the Material, GCC Furniture Rental Market is segmented as; Wood, Plastic, Others.
By End User: Based on the End User, GCC Furniture Rental Market is segmented as; (Residential, Offices, Healthcare Sector, Retail, Others)
By Region: This research also includes data for The UAE, Saudi Arabia, Oman, Qatar, Kuwait, and Bahrain.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
GCC Rental Furniture Market Scope
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