Urbanization to Catalyze India Appliance Rentals & Subscriptions Market to USD 534 Million by 2030

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The India Appliance Rentals & Subscriptions Market size was valued at around USD213 million in 2024 and is projected to reach USD534 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 16.34% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. This growth is majorly attributed to the increasing urbanization and mobility of people, mainly Gen Z and millennials to metro cities in search of better jobs and studies, increasing house rents, cost-effectiveness compared to buying similar appliances, growing preference for flexibility in shifting homes, rising penetration of online renting platforms, growing focus towards environment & sustainability, and introduction of attractive subscriptions and services. All these factors have inclined the users to adopt flexible living setups, and this demand is addressed by renting those appliances.

Moreover, the market is fueled by the rapidly expanding e-commerce sector of India. This is evident from the fact that India had 800 million internet users in 2023, as per the Internet and Mobile Association of India, and they spend on average 1.5 hours on the internet. Also, as per IBEF, there are around 125 million online shoppers in the country in 2024. This growth shows the high engagement of Indians on online platforms, thus showing that the vast population has access to rental platforms. Thus, this will create growth opportunities for appliance rental companies, especially in metropolitan cities where migration of people is more for job or education-related purposes, and spending money on owning appliances is not very feasible for them.

Furthermore, the evolving consumer preferences for home appliances have highly shaped the market’s dynamics. People are seeking cost-effective solutions, which are addressed by the rental appliances. Recently, these trends have been growing in the tier-1 and tier-2 cities as well. It allows tenants to upgrade to the latest models of goods with new technologies by exchanging the allotted rented appliance with a new advanced version of it from the appliance rental company, thus saving on the cost of owning new advanced goods.

Hence, appliance rental platforms not only facilitate cost saving but also help their customers stay aligned with the latest innovations, thus aligning with their evolving preferences. Therefore, the appliance rental platforms have experienced notable growth due to increasing mobility of people to tier-1 cities, increasing penetration of internet, growing e-commerce, and rising consumer awareness for rental services, and this demand is expected to continue in the forecast period as well, further states the research report, “India Appliance Rentals & Subscriptions Market Analysis, 2025.”

India Appliance Rentals & Subscriptions Market Segmentation Analysis

Home Appliances Hold the Largest Market Share

Based on the product type, the market is further bifurcated into Home Appliances, Consumer Electronics, Kitchen Appliances, and Office Appliances. Here, the home appliances segment leads the market with a share of around 60%. This dominance is mainly attributed to the rising demand for rental home appliances, especially from the migrated population seeking rental houses well equipped with all home appliances, including refrigerators, washing machines, air conditioners, etc. These appliances have become a necessity for people in recent years.

However, students and working professionals are the main end-users of such appliances, due to issues such as affordability, frequent shifting of workplaces or cities, etc.  As a result, renting out appliances minimizes the capex of the end users and allows them to upgrade to newer versions whenever required. Therefore, as home appliances are the utmost priority for users, this segment has dominated the market in the past years and is expected to maintain its lead in the forecast years as well.

The Residential Sector is the Primary End-User of the Appliance Rentals & Subscriptions Industry

Based on the end-use of rental appliances, they are mostly used in residential settings and hold a share of around 80%. This dominance is mainly attributed to the growing population of working individuals, students, and families. Such individuals are highly inclined towards opting for rental homes and essential appliances, as it saves their money and avoids the hassle of transporting and storing such bulkier products. This has led to a greater demand for appliances from the residential front. Thus, the housing sector dominates the market because of the growing mobility of workers and students, and this is likely to continue in the coming years in the face of ongoing growth in urbanization and labor mobility.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including RentoMojo, Furlenco, Cityfurnish, Rentickle, Guarented, Rentit4me, NoBroker Furniture, RentMacha, Voorent, ThinkRenta, and others, are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the Country?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from products been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?