Global Appliances Rental Market Overview:
In some countries, appliances rental is also known as equipment rental or plant hiring. It is a business that rents out machinery, equipment, and tools of all kinds and sizes to end users, primarily construction contractors, but also industry and individual customers, for a certain length of time. Renting is frequently defined as obtaining equipment for a limited time in order to aid those who are unwilling to shop for the equipment.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
India and China are presently high demand for rental appliances especially fridge freezers, washing machines, air conditioners and air coolers, water heaters, etc. among other appliances
Market Growth Drivers:
Changing consumer behaviour towards rental industry which includes getting good quality products
Challenges:
Growing convenience and flexibility provided by the rental appliances companies, higher focus on value experience
Restraints:
Cost effective is highly associated with appliances
Opportunities:
Rising government initiatives towards appliances rental
Competitive Landscape:
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are United Rentals (United States), Ashtead Group (United Kingdom), Aktio Corp (Japan), Loxam (France), Aggreko (United States), Herc Rentals (United States), Kanamoto (Japan), Boels Verhuur (Netherlands), Nishio Rent All Co (Japan) and Algeco Scotsman (France). Considering Market by Appliances, the sub-segment i.e. Dishwashers will boost the Appliances Rental market. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Appliances Rental market.
Latest Market Insights:
In May 2020, United Rentals acquired Neff Corporation for nearly USD 1. 3bn.This acquisition helped company to expand its presence in appliances rental market
In 2020, Cityfurnish - a Gurgaon-based furniture and consumer appliances rental startup, which was recently part of the Y Combinator winter batch of 2019, has announced the launch of its operations in Hyderabad. The offerings of Cityfurnish already live in Delhi, Mumbai, Bangalore, Pune, and Gurgaon & Noida. The online rental furniture startup is revolutionizing the on-demand rental economy in India. Cityfurnish was founded in September 2015 by Neerav Jain and Saurabh Gupta with a vision to set consumers free from the shackles of buying expensive commodities like furniture and consumer appliances, so that they can rather invest in meaningful experiences and other valuable assets.
What Can be Explored with the Appliances Rental Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Appliances Rental Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Appliances Rental
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Appliances Rental market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Appliances Rental market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers, Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.