Quick Overview of the GCC Furniture Rental Market Analysis
The GCC Furniture Rental Market Analysis, research report provides an in-depth market study with qualitative and quantitative research of the continuing industry trends, opportunities, growth areas, drivers, and challenges, which would enable stakeholders to align their market strategies according to the present & future market dynamics.
Detailed Analysis of GCC Furniture Rental Industry (2024-30): Reveals Further Growth &Market Expansion
According to the most recent 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. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, regional landscape, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024-30.
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GCC Furniture Rental Market Challenge:
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.
GCC Furniture Rental Market Segmentation Analysis
-By Product Type
- Indoor 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)
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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. The UAE, particularly the major cities such as Abu Dhabi and Dubai, has substantial progression in the hospitality sector as the country is the hub for the major events relating to the cooperate conferences and the international sports. For instance, entities like ADNEC (Abu Dhabi National Exhibition Company), are strategizing for the expansion of the infrastructures, aiming to attract and hold the majority of the international events in the UAE regions. This expansion for the uplifting the national and international events in the UAE upsurges the demand for rental furniture based on the themes and demand of the diverse events.
Key Players and Competitive Strategies in the GCC Furniture Rental Market
The report provides a study that looks at the requirements for manufacturing and processing, project expenses, finance, and economics, as well as projected profit margins and returns on investment. This also helps in identifying the major market players in the market such as:
- AREEKA
- Arena Group PLC
- Innovative Hiring
- Style Works
- Risala Furniture
- CORT
- Chapter One
- Indigo Living Limited
- Lafeef
- The Furniture Rental Company
- Others
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Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the globe?
- How has the industry been evolving in terms of geography and product adoption?
- How has the competition been shaping up across various regions?
- How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2024-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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