Consumer Goods And General Rental Centers Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Consumer Goods And General Rental Centers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Consumer Goods And General Rental Centers Global Market Report 2024, The consumer goods and general rental centers market size has grown strongly in recent years. It will grow from $169.45 billion in 2023 to $183.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to economic conditions, housing market activity, construction industry health, seasonal demand, environmental regulations, consumer awareness.

The consumer goods and general rental centers market size is expected to see strong growth in the next few years. It will grow to $250.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to sustainability practices, e-commerce integration, circular economy initiatives, health and safety compliance, smart home device rentals. Major trends in the forecast period include supply chain innovations, subscription-based models, flexible rental terms, integration of technology, customer loyalty programs, collaborations with manufacturers.

With the rise in mobile phone and internet penetration, online portals and mobile applications are being widely used to rent or lease goods. These mobile applications and online portals consist of an interface that enables users to view products and choose the desired one to be rented. The online leasing portals may offer various types of products or specialize in a single product. Major products being widely offered for lease through online portals include electronics, furniture, appliances, cameras, and others. For instance, according to PricewaterhouseCoopers, around 44% of US adults are familiar with the sharing economy which includes leasing and this market is expected to increase from $15 billion in 2014 to $335 billion by 2025.

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The consumer goods and general rental centers market covered in this report is segmented –

1) By Type: Consumer Goods Rental, General Rental Centers

2) By Distribution Channel: Online, Offline

3) By Application: Electronics, Healthcare, Formal Wear and Costume, Video Tape and Disc, Recreational Goods

Subsegments Covered: Consumer Electronics And Appliances Rental, Formal Wear And Costume Rental, Video Tape And Video Games Rental, Other Consumer Goods Rental, Audio Visual Equipment Rental, Contractors And Builders Tools And Equipment Rental, Home Repair Tools Rental, Lawn And Garden Equipment Rental, Other Equipment Rental

Major companies operating in the consumer goods and general rental centers market are incorporating new technologies such as Rent Online, and Pick-up In-Store technology to gain a competitive edge in the market. Rent Online, Pick-up In Store (ROPIS) technology is a retail strategy that combines the convenience of online shopping with the immediacy of in-store pick-up that allows customers to rent or reserve products online through a retailer’s website or app and then collect them in person from a physical store location. For instance, in June 2021, The Home Depot, a US-based company that provides rental services for tools, trucks, and large equipment through its well-stocked rental centers unveiled Rent Online, Pick-up In Store” technology. This innovative online technology saves pro and DIY customer’s time and travel to the store by allowing them to verify equipment availability and reserve what they need in advance, allowing them to get in and out of our rental centers faster than ever before.

The consumer goods and general rental centers market report table of contents includes:

Executive Summary
Consumer Goods And General Rental Centers Market Characteristics
Consumer Goods And General Rental Centers Product/Service Analysis -Product/Service Examples
Consumer Goods And General Rental Centers Market Trends And Strategies
Consumer Goods And General Rental Centers Market – Macro Economic Scenario

Global Consumer Goods And General Rental Centers Market Competitive Benchmarking
Global Consumer Goods And General Rental Centers Market Competitive Dashboard
Key Mergers And Acquisitions In The Consumer Goods And

General Rental Centers Market