Refurbished Electronics Market Expands with Laptops Segment at a robust CAGR of 11.61% through 2029
The increasing global refurbished electronics market
is driven by cost savings and affordability, reduction of electronic waste
during the forecast period 2025-2029.
According to TechSci Research report, “Refurbished Electronics Market - Industry Size, Share, Trends,
Opportunities and Forecast, 2019-2029F", Global Refurbished Electronics Market was valued at USD 86.53 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR 11.61% through 2029.
The rapid pace of technological advancements is driving demand for refurbished electronics. As new electronic devices are launched with increasingly advanced features, consumers and businesses may choose to upgrade their equipment more frequently. This creates a steady supply of previously owned but still capable devices that are suitable for refurbishing. Refurbished electronics often encompass previous-generation flagship devices from well-known brands, offering consumers access to advanced technology at more affordable prices. These devices provide compelling alternatives for individuals and organizations that do not require the absolute latest features and capabilities. This driver is particularly relevant in the consumer electronics sector, where the desire for cutting-edge technology is balanced by the recognition of the value in slightly older, yet still high-performing, devices. The refurbishing process ensures that these devices meet the latest standards in terms of functionality, ensuring they remain competitive in the market. As technology continues to advance rapidly, the refurbished electronics market will benefit from a continuous influx of used but still valuable devices that appeal to consumers seeking the right balance between affordability and performance.
While refurbished electronics contribute to sustainability by extending the lifespan of electronic devices, they also face challenges related to e-waste and sustainability. The global production of electronic waste continues to rise, with many old and discarded devices not entering the refurbishing cycle. Managing the growing e-waste problem and increasing the refurbishment rate are significant challenges. To address this issue, refurbishers need to expand their efforts to capture a higher percentage of discarded electronic devices. Establishing robust collection and recycling programs can help divert more devices from landfills and into the refurbishing process. Moreover, raising consumer awareness about the environmental benefits of refurbished electronics is vital. By educating consumers about the positive impact of choosing refurbished products, the market can further contribute to sustainability goals and address the challenge of e-waste.
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The global refurbished electronics market is segmented
into product, end user, distribution channel, and region.
Based on distribution channel, online retailers &
e-commerce dominated in the global refurbished electronics market in 2023.
Online retailers and e-commerce platforms offer unparalleled convenience and
accessibility to a wide range of refurbished electronics. Consumers can browse,
compare, and purchase products from the comfort of their homes or on the go.
The availability of refurbished devices on e-commerce websites enables
customers to access a vast selection, including laptops, smartphones, tablets,
and audio equipment, at their fingertips. This convenience has made online
retailers and e-commerce platforms the go-to destination for consumers
worldwide. Online channels provide a diverse array of refurbished
electronics, catering to the varied needs and preferences of consumers.
Shoppers can explore an extensive product range from various brands, models,
and categories. This vast product variety allows consumers to find the specific
device that best suits their requirements and budget, promoting a highly
competitive and diverse marketplace that appeals to a broad audience.
Based on region, North America is experiencing rapid growth in the global refurbished electronics market due to several key factors. The region has a large and technologically savvy consumer base with high demand for electronic devices. As consumers seek to upgrade their devices frequently to access the latest features, there is a significant supply of pre-owned electronics available for refurbishment and resale. North America has a well-established ecosystem of refurbishers, retailers, and online marketplaces specializing in refurbished electronics, facilitating easy access to these products for consumers. Moreover, growing environmental awareness and concerns about electronic waste are driving more consumers in North America to opt for refurbished electronics as a sustainable and eco-friendly alternative to buying new devices. Favorable regulatory frameworks and consumer protection laws in North America provide assurances regarding the quality, warranty, and safety of refurbished products, boosting consumer confidence in purchasing refurbished electronics. Overall, these factors contribute to the robust growth of the refurbished electronics market in North America, making it the fastest-growing region globally.
Key market players in the global Refurbished
Electronics market are: -
- Amazon.com, Inc.
- Back Market, Inc.
- eBay Inc.
- Entertainment Magpie, Inc. (Decluttr)
- Swappa, LLC
- Cordon Group
- ecoATM, LLC
- GameStop, Inc.
- Newegg Inc.
- Dell Technologies Inc.
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“As the refurbished electronics market expands, there is a growing emphasis on implementing stringent regulations and quality standards to foster transparency and trust between buyers and sellers. Regulatory bodies and industry associations are actively developing clear guidelines for the refurbishing process, addressing critical areas such as data erasure, safety, and warranties. Certification programs, such as those offered by Certified Renewed and Certified Refurbished, have become increasingly prominent, setting rigorous standards for refurbished products. These certifications reassure consumers about the quality and reliability of the refurbished electronics they acquire”, said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based global
management consulting firm
“Refurbished Electronics Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, By Product (Laptops, Tablets,
Gaming Consoles, Audio Equipment), By End User (Students, Corporate Sector,
Educational Institutions, Government Organizations), By Distribution Channel
(Online Retailers & E-Commerce, Physical Stores, Authorized Refurbishment
Centers, Direct Sales), By Region & Competition, 2019-2029F,” has evaluated
the future growth potential of Global Refurbished Electronics 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 Global Refurbished Electronics Market.
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