GCC Furniture Rental Market 2024: Industry Growth, Competitive Analysis, Future Prospects and Forecast 2030

According to MarkNtel Advisors study the GCC Furniture Rental Market is estimated to grow at a CAGR of around 7.35% during the forecast period, i.e., 2024-30, due to the significant construction of hotels, multi-cuisine restaurants, resorts, etc.

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Key Findings of the Study: GCC Furniture Rental market

Positioning of GCC as an Event Hub to Promote the Furniture Rental Market – The GCC region has long been a global hub for hosting & organizing major international events. With the rise of the UAE, Saudi Arabia, Qatar, etc., as an event hub, the number of furniture rental companies has increased across the region. Hosting numerous events, conferences, trade shows, and exhibitions in the GCC requires a vast amount of event furniture, including seating, booths, tables, and décor. Event organizers opt for furniture rental to create visually appealing and functional event spaces. Thus, upcoming events are acting as a driving force for equipment rental companies, opening up a massive potential market for furniture rental companies across the GCC region.

Furthermore, the UAE, Saudi Arabia, Qatar, etc., government is pushing its capabilities to increase the number of events held in the country each year. For instance, the DBE (Dubai Business Events) captured around 120 events in 2021 and now plans to capture over 400 global events in 2025. Such initiatives for substantial growth in the event sector increase the market size of outdoor furniture and it is anticipated to elevate the GCC Furniture Rental Market in the coming years.

Lack of Awareness and Poor Advertising about Furniture Rental Services – In the GCC region, inadequate awareness about furniture rental and poor advertising negatively impact the market growth. The lack of awareness among the population about furniture rental services leads customers to stick with the traditional approach of buying expensive furniture. This leads to a drastic impact on the potential growth of the furniture rental market in the region.

In addition, furniture rental provides flexibility, a wide array of choices, and affordability, but a lack of awareness hinders its adoption among the population seeking economical furniture solutions across the region. Furthermore, a significant challenge is the perceived insecurity among potential customers. This further doubts about the quality of rental furniture arise because customers think it's made from used materials. Hence. it acts as a barrier, dampening the potential demand for furniture rental in the GCC region. Therefore, factors such as lack of awareness, poor advertising, and lack of confidence among the population are expected to hamper the market growth in the coming years.

For more detailed information about the GCC Furniture Rental market report, click here – https://www.marknteladvisors.com/research-library/gcc-furniture-rental-market.html

Scope of the Report and GCC Furniture Rental Market Segmentation:

By Product Type

• Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
  • Bedroom Furniture- Market Size & Forecast 2019-2030, (USD Million)
  • Dining Furniture- Market Size & Forecast 2019-2030, (USD Million)
  • Office Furniture- Market Size & Forecast 2019-2030, (USD Million)
  • Kitchen Furniture- Market Size & Forecast 2019-2030, (USD Million)
  • Living Room Furniture- Market Size & Forecast 2019-2030, (USD Million)
  • Storage Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Outdoor Furniture- Market Size & Forecast 2019-2030, (USD Million)

By Type of Furniture

• Bed- Market Size & Forecast 2019-2030, (USD Million)
• Sofa & Couch- Market Size & Forecast 2019-2030, (USD Million)
• Table & Desk- Market Size & Forecast 2019-2030, (USD Million)
• Chair & Stool- Market Size & Forecast 2019-2030, (USD Million)
• Wardrobes & Dresser- Market Size & Forecast 2019-2030, (USD Million)
• Others (Nightstand, storage benches, etc.)- Market Size & Forecast 2019-2030, (USD Million)

 By Material

• Wood- Market Size & Forecast 2019-2030, (USD Million)
• Plastic- Market Size & Forecast 2019-2030, (USD Million)
• Others (Leather, Glass, Metal, etc.)- Market Size & Forecast 2019-2030, (USD Million)

By End-Users

• Residential- Market Size & Forecast 2019-2030, (USD Million)
• Offices- Market Size & Forecast 2019-2030, (USD Million)
• Healthcare Sector- Market Size & Forecast 2019-2030, (USD Million)
• Retail- Market Size & Forecast 2019-2030, (USD Million)
• Others (Government Agencies, Entertainment sector, etc.)- Market Size & Forecast 2019-2030, (USD Million)

During 2019-2023, the demand for wood-based rental furniture witnessed considerable growth in the GCC Furniture Rental Market.

Geographical Analysis:

By Country

• The UAE
• Saudi Arabia
• Oman
• Qatar
• Kuwait
• Bahrain

The UAE dominates the GCC Furniture Rental Market with a considerable share during the period of 2019-2023.

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