Increasing
practice of renting instead of purchasing electric appliance to boost India electric
appliances rental market through 2024
According
to TechSci Research report, “India Electric Appliance Rental Market By Business Model, By
Category, By End Use, By Tenure, Competition, Forecast & Opportunities,
2024”, renting
has turned out to be beneficial for consumers due to lower price and low
maintenance. Furthermore, owing to growth in the mobility and increase in the
intra country migration, more and more people are opting for rented electric
appliances which is driving the electric appliances rental market. Also,
professionals with transferrable jobs generally choose rented electric
appliances instead of permanent ones to avoid hassles of shifting them to
different places. Renting electric appliance is considered convenient and money
saving, which is driving their demand across the country. Moreover, emerging
growth of e-commerce sector has made the process more convenient and affordable
for the people to rent electric appliances through various online
channels.
Browse
market data Figures and Tables spread through Pages and an
in-depth TOC on "India
Electric Appliance Rental Market"
India electric appliance rental market can be
segmented based on category, business model, end use, tenure and region. On the
basis of end use, the market can be segmented into residential and commercial.
Residential end use segment accounted for the largest share; however, share of
commercial segment is expected to increase as corporate sector has also started
renting electric appliances such as refrigerator and microwave in order to
provide facilities to their employees. In terms of tenure, market can be
segmented into upto 1 year, 1-2 year and over 2 years. 1-2 years is the
preferred duration as customers generally opt for electric appliances for short
duration.
Major players operating in India electric
appliance rental market include Rentomojo, CityFurnish, Furlenco, Rentickle,
GrabOnRent, RentOnGo, Pepperfry, Fabrento, Guarented, among others. The companies
operating in the market are either tying up with vendors or have
self-inventories for quality offerings to the customers. Also, companies in
this domain are offering services as ease of movement of electric appliance
from one city to another without extra charge and no rent for the first month
of the electric appliance in order to attract customers.
Customers can also
request for 10% free customization on this report.
“Owing to increasing working population and soaring trend of rented apartments,
a large number of people are opting for rental electric appliances due to lower
price of appliance and fewer maintenance expenses. Moreover, increasing number
of internet subscribers and rise in smartphone penetration are further positively
influencing the growth of the market.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
According
to TechSci Research “India Electric Appliance Rental Market By
Business Model, By Category, By End Use, By Tenure, Competition, Forecast &
Opportunities, 2024” has analyzed the potential of electric appliance rental market across the country,
and provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by India electric appliance rental market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
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