India Electric Appliance Rental Market

India Electric Appliance Rental Market Overview:

The India electric appliance rental market size reached USD 2.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.8 Billion by 2033, exhibiting a growth rate (CAGR) of 10.56% during 2025-2033. Rising urbanization, increasing millennial and Gen Z workforce mobility, growing preference for flexible ownership, high upfront costs of appliances, expanding e-commerce and digital payment adoption, demand for hassle-free maintenance services, sustainability concerns, and the emergence of subscription-based rental models are positively impacting the India electric appliance rental market outlook.

India Electric Appliance Rental Market Trends:

Growing Demand for Subscription-Based Appliance Rentals

The India electric appliance rental market growth is driven by an increase in demand due to urban migration, rising disposable income, and the growing preference for flexible ownership. For instance, according to a report released on February 11, 2025, India's urban population is expected to reach 600 million by 2036, accounting for 75% of the country's GDP. The report highlights the importance of sustainable urban planning, taking inspiration from the grid-based layouts, sophisticated water management, and climate-conscious building practices. Young professionals, students, and temporary residents in metropolitan cities are opting for subscription-based models to access high-end appliances such as refrigerators, washing machines, and air conditioners without upfront investment. Companies are introducing affordable monthly rental plans, bundled maintenance services, and easy upgrade options to attract consumers. This trend aligns with the broader shift towards a sharing economy, where affordability, convenience, and sustainability play key roles in consumer decision-making. 

Expansion of Appliance Rentals Beyond Metro Cities 

Initially concentrated in Tier-1 cities, the India electric appliance rental market share is now expanding into Tier-2 and Tier-3 cities. Increasing internet penetration, digital payment adoption, and changing consumer preferences are fueling this growth. For instance, according to a 2025 research, India's internet user population is expected to increase from 886 million in 2024 to over 900 million by 2025, representing a strong 8% year-over-year increase. With 488 million users, rural areas make up a noteworthy 55% of this user base, demonstrating the widespread use of digital technology outside of urban areas. Additionally, the survey notes that 98% of users access content in Indian languages, with Tamil, Telugu, and Malayalam being the most widely available. Businesses are leveraging online platforms and mobile apps to reach a wider customer base, offering doorstep delivery and hassle-free returns. The rising cost of home appliances and short-term job relocations further contribute to the demand for rentals in smaller cities. As rental providers strengthen logistics and customer service, the sector is poised for significant expansion across India’s urban and semi-urban markets.

India Electric Appliance Rental Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product type and end use.

Product Type Insights:

• Refrigerator
• Television
• Water Purifier/Water Dispenser
• Air Conditioner
• Washing Machine
• Microwave
• Air Purifier
• Cooking Items
• Others

The report has provided a detailed breakup and analysis of the market based on the product type. This includes refrigerator, television, water purifier/water dispenser, air conditioner, washing machine, microwave, air purifier, cooking items, and others.

End Use Insights:

• Residential
• Commercial

A detailed breakup and analysis of the market based on the end use have also been provided in the report. This includes residential and commercial.

Regional Insights:

• North India
• South India
• East India
• West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Electric Appliance Rental Market News:

• On December 8, 2024, LG Electronics India announced the opening of its appliance rental business. The company wants to grow across all sales channels, initially focusing on premium customers through a few exclusive outlets. By providing flexible subscription services, this project seeks to increase income and improve customer happiness. Due to the lack of exclusivity agreements, which permit the parent company to operate rival operations in India, the company did admit the possibility of future rivalry from its South Korean parent, LG Electronics Inc. 
• As of July 25, 2024, an industry standard was set when Guarented, a well-known furniture and home appliance rental company, announced a successful exit for its angel investors. Guarented, which was founded by Harshwardhan Raikwar and Abhimanyu Dikshit, both of whom were graduates of IIT Kharagpur, has furnished over 80,000 homes in eight years, kept its Google rating above 4.2, and now serves over 20,000 active clients. With a 40% year-over-year expansion and a 3% month-over-month increase, the company's 20,000+ square foot production facility in Bangalore has helped make three consecutive fiscal years profitable. Through refurbishing projects, it has also reduced over 10,000 tonnes of e-waste.

India Electric Appliance Rental Market Report Coverage:

Key Questions Answered in This Report:

• How has the India electric appliance rental market performed so far and how will it perform in the coming years?
• What is the breakup of the India electric appliance rental market on the basis of product type?
• What is the breakup of the India electric appliance rental market on the basis of end use?
• What is the breakup of the India electric appliance rental market on the basis of region?
• What are the various stages in the value chain of the India electric appliance rental market? 
• What are the key driving factors and challenges in the India electric appliance rental market?
• What is the structure of the India electric appliance rental market and who are the key players?
• What is the degree of competition in the India electric appliance rental market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India electric appliance rental market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the India electric appliance rental market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India electric appliance rental industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.