Press Release

India Electric Appliance Rental Market to Grow with a CAGR of 10.07% through 2030

The India electric appliance rental market is growing, driven by urbanization, changing lifestyles, and the preference for flexible consumption models, offering convenience and affordability for consumers and businesses alike.

 

According to TechSci Research report, “India Electric Appliance Rental Market – By Region, Forecast & Opportunities, 2030F”, the India Electric Appliance Rental market stood at USD 1.80 billion in 2024 and is anticipated to grow with a CAGR 10.07% through 2030. The India Electric Appliance Rental Market has emerged as a significant segment within the broader consumer goods sector, driven by changing consumer preferences, increasing urbanization, and the growing trend of mobility and convenience. In recent years, the rental model has gained popularity among consumers who prefer flexibility over ownership, particularly in urban areas where living space is often limited and the pace of life is fast. This shift in mindset has led to the proliferation of rental services for various electric appliances, including refrigerators, washing machines, air conditioners, and kitchen gadgets. As more consumers recognize the advantages of renting over purchasing, the market is poised for substantial growth, reflecting broader trends in lifestyle and consumption patterns.

 

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The increasing number of young professionals and students moving to urban centers for work and education. This demographic often prefers renting appliances as a cost-effective solution that aligns with their transient lifestyles. Additionally, the rising cost of living in urban areas has prompted many consumers to seek affordable alternatives to outright purchases. The rental model allows them to enjoy the benefits of modern appliances without the burden of high upfront costs or long-term commitments. Moreover, the convenience of maintenance and servicing provided by rental companies adds to the appeal, as consumers are relieved from the responsibilities of repairs and upkeep. The India Electric Appliance Rental Market is characterized by a diverse array of service providers catering to different consumer segments. Major players include both established rental companies and emerging startups that focus on niche markets. These providers offer a range of electric appliances for rent, from basic essentials like fans and irons to high-end products like smart refrigerators and washing machines. The market is increasingly segmented based on consumer needs, with options for short-term rentals catering to events and temporary housing, as well as long-term rentals for individuals seeking flexibility without the hassles of ownership. This diversification enables companies to tailor their offerings to specific consumer preferences, enhancing customer satisfaction and loyalty.

The India Electric Appliance Rental Market is set to witness sustained growth, fueled by several emerging trends and opportunities. The increasing focus on sustainability and responsible consumption aligns well with the rental model, as it promotes resource-sharing and reduces waste. As awareness of environmental issues grows, consumers may gravitate towards rental services as a way to minimize their ecological footprint. Additionally, advancements in technology, such as mobile applications and online platforms, are revolutionizing the rental experience by making it easier for consumers to browse, book, and manage their rentals. Companies that leverage digital tools to enhance customer engagement and streamline operations will likely gain a competitive edge in this evolving market.

Furthermore, the ongoing shift towards remote work and flexible living arrangements, driven by the COVID-19 pandemic, may further boost demand for rental appliances as consumers seek adaptable solutions for their changing lifestyles. The India Electric Appliance Rental Market is experiencing a transformative phase, shaped by changing consumer behaviors, urbanization, and technological advancements. As more individuals and families embrace the benefits of renting electric appliances, the market is positioned for robust growth in the coming years. The focus on convenience, affordability, and sustainability will continue to drive consumer interest, creating opportunities for rental companies to innovate and expand their offerings. By addressing consumer concerns regarding quality and reliability, optimizing logistics, and leveraging digital platforms, players in the electric appliance rental market can successfully navigate the challenges ahead. With a commitment to meeting the evolving needs of consumers, the India Electric Appliance Rental Market is well-equipped to thrive in an increasingly dynamic and competitive environment.

The India Electric Appliance Rental market is segmented into business model, category, end use and region.

The tie-up with various vendors is the fastest-growing segment by business model in the India Electric Appliance Rental Market. This approach allows rental companies to expand their product offerings and enhance customer satisfaction by providing a wider range of high-quality electric appliances. By collaborating with manufacturers and suppliers, rental businesses can access the latest technology and innovative products, which is crucial for attracting a diverse consumer base. These partnerships enable rental firms to ensure better pricing, availability, and maintenance services, making it easier for consumers to choose rental options over purchases. Additionally, vendor tie-ups facilitate streamlined logistics and inventory management, reducing operational costs and improving efficiency. As more consumers prioritize convenience and variety, the emphasis on strong vendor relationships will likely continue to shape the growth trajectory of the electric appliance rental market in India, making it a competitive landscape for both established and emerging players. 

Major companies operating in India Electric Appliance Rental market are:

  • Edunetwork Private Limited (Rentomojo)
  • Cityfurnish India Private Limited
  • House of Kieraya Private Limited (Furlenco)
  • AVA Lifestyle Products & Services Pvt Ltd (Rentickle)
  • Godrej & Boyce Mfg. Co Ltd (Godrej HUB)
  • BhadePay E-commerce Pvt. Ltd.
  • Pepperfry Limited
  • Rentomania Private Limited (Fabrento)
  • Guarented Rental Private Limited (Guarented)
  • Rentsher

 

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“The India electric appliance rental market is thriving, driven by urbanization and a shift towards flexible, cost-effective consumption models. Catering to residential and commercial sectors, rental services offer access to appliances like refrigerators and air conditioners without the burden of ownership. Key trends include the adoption of smart appliances, expansion into new regions, and a focus on sustainability. These trends reflect changing consumer preferences for convenience and affordability. As the market grows, rental companies are innovating to meet diverse needs, making appliances more accessible while promoting sustainable living practices across the country.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

India Electric Appliance Rental Market Segmented, By Business Model (Self Inventory, Tie-Up with Various Vendor, Verified Vendor), By Category (Refrigerator, Television, Microwave, Washing Machine, Air Conditioner, Air Cooler, Others), By End Use (Residential, Commercial), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of India Electric Appliance Rental market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Electric Appliance Rental market.

 

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India Electric Appliance Rental Market By Product Type (Refrigerator, Television, Water Purifier/Water Dispenser, Air Conditioner, Washing Machine, Microwave, Air Purifier, Cooking items, Others), By End Use (Residential, Commercial), By Region, Competition, Forecast & Opportunities,

Consumer Goods and Retail | Dec, 2024

The India electric appliance rental market is growing, driven by urbanization, changing lifestyles, and the preference for flexible consumption models, offering convenience and affordability for consumers and businesses alike

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