Global Refurbished Electronics Market Insights Forecasts to 2033

• The Global Refurbished Electronics Market Size was Valued at USD 47.57 Billion in 2023
• The Market Size is Growing at a CAGR of 10.03% from 2023 to 2033
• The Worldwide Refurbished Electronics Market Size is Expected to Reach USD 123.71 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Refurbished Electronics Market Size is Anticipated to Exceed USD 123.71 Billion by 2033, Growing at a CAGR 10.03% from 2023 to 2033.

Market Overview

The refurbished electronics market contains electronic devices returned to the manufacturer or seller for various reasons, including problems or customer discontent. These products are then fixed, tested, and returned to their original state, before being offered again at a lesser price than new products.  Refurbished electronics products are then rigorously repaired, tested, and restored to like-new condition before being returned to the market at a reduced price. The reconditioned electronics business provides buyers with appealing proposition high-quality devices at a lower cost. This market's growth is being driven by environmentally concerned consumers who value sustainability and those looking for refurbished low-cost alternatives to brand-new equipment. The refurbished electronics market is expanding rapidly, fueled by cost-conscious customers and greater adoption of green initiatives. Lower prices for refurbished cell phones, computers, and other devices make them an appealing option for those trying to save money. The most effective refurbished electronics include warranties that not only protect users from substandard product quality but also create a sense of security in owning a refurbished electronic device.

In February 2023, Brightstar, an international corporation specializing in mobile device lifecycle management, formed a partnership with Gazelle, a leading online platform for the sale of refurbished products. This strategic approach should enable Brightstar to expand its operations to include the sale of certified reconditioned electronic devices.

Leading electronics equipment manufacturers and e-commerce websites, including Dell, Samsung, Apple, Amazon, Lenovo Group Ltd., Reboot Systems India Private Limited., eBay Inc., Overcart, Dell, Inc., HP Inc., Acer Inc., and others are focusing on refurbishing and recycling electronics to reduce e-waste generation.

Report Coverage

This research report categorizes the market for the refurbished electronics market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the refurbished electronics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the refurbished electronics market.

Driving Factors

Increase in Awareness of the Refurbished Electronics Market

Growing environmental concerns due to massive e-waste generation are driving consumers to choose refurbished tablets and laptops. According to a United Nations University survey conducted in 2020, India discarded nearly 3 million tons of e-waste, the majority of which could have been rehabilitated and resold, prolonging the usable life of the assets. Refurbished electronics can provide users with the possibility to buy quality equipment with advanced features at more accessible costs is also driving the market. Online platforms allow visitors to compare the pricing of various refurbished products while also gathering data regarding the product's history and other qualities.

Restraining Factors

Unavailability of Popular Models

One of the key fears about the expansion of the reconditioned electronic products market is the lack of availability of popular models. High-demand models are typically sold out quickly, leaving consumers with fewer selections and a more prolonged wait time.

Market Segmentation

The refurbished electronics market share is classified into product, distribution channel, and end-user.

• The smartphones segment accounted for the largest revenue share over the forecast period.

Based on the product, the refurbished electronics market is categorized into smartphones, wearable devices, computing devices, home appliances, sound and vision, gaming consoles, and others. Among these, the smartphones segment accounted for the largest revenue share over the forecast period. Growing Internet penetration, expanding marketing activity by smartphone manufacturers, and rising subscriptions in social media are some of the primary factors pulling smartphones. The widespread use of 5G networks, and also technology developments such as high-resolution displays, powerful processors, and longer battery life, are improving the mobile experience and driving up customer demand.

• The online stores segment is anticipated to grow at the highest CAGR during the forecast period.

Based on the distribution channel, the refurbished electronics market is categorized into offline stores and online stores. Among these, the online stores segment is anticipated to grow at the highest CAGR during the forecast period. Buying refurbished desktops and laptops in online stores is often more convenient than going to a physical store. Customers can browse a large selection of devices from the convenience of their property or workplace, and purchase with a few clicks. Online stores offer a diverse range of selections, thorough product information, customer feedback, and reasonable prices, making them the top choice for tech-savvy shoppers seeking reconditioned gadgets.

• The corporate offices segment is projected to hold a significant market share through the forecast period.

Based on the end-user, the refurbished electronics market is categorized into corporate offices, schools and colleges, government offices, individuals, and others. Among these, the corporate offices segment is projected to hold a significant market share through the forecast period. Advantages of investing in refurbished electronics is that they can offer a large selection of options, simple updates, support for nearby companies, customizable solutions, and shorter lead times. The increasing focus on refurbishing and recycling electronic devices for reducing e-waste is driving the market demand in the corporate offices.

Regional Segment Analysis of the Refurbished Electronics Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the refurbished electronics market over the predicted timeframe.

North America is projected to hold the largest share of the refurbished electronics market over the forecast period. North America has been a prominent player in the refurbished electronics market due to its well-developed e-commerce infrastructure, consumer awareness of sustainability, and technologically savvy population. The market for refurbished cellphones, computers, and other electronics has increased in the United States and Canada, owing to cost-conscious consumers and a desire to reduce electronic waste. This region is located in major technology businesses and third-party refurbishes that provide certified and extensively tested refurbished equipment. Regulatory measures such as the Magnuson-Moss Warranty Act have aided in setting warranty standards and assuring transparency, hence increasing consumer confidence in reconditioned devices.

Asia Pacific is expected to grow at the fastest CAGR growth in the refurbished electronics market during the forecast period. Asia-Pacific has several large e-commerce and online markets for refurbished electronics, along with significant production capacity. It is one of the world's most populous regions, with the vast majority of individuals slipping into the middle and lower economic levels. This demographic is more likely to choose remanufactured products due to their cost, sustainability, and dependability. People in India are increasingly buying refurbished and used mobile phones to replace their expensive cell phones and transition from feature phones to smartphones.

Europe region is witnessing significant growth in the refurbished electronics market. Europe's reconditioned electronics sector has also grown as a result of strict legislation promoting sustainable practices and consumer protection. The European Union's Waste Electrical and Electronic Equipment (WEEE) Directive promotes responsible electronic disposal and reuse, which helps to boost the refurbished electronics sector. Countries such as the United Kingdom, Germany, and France have robust e-commerce ecosystems and environmentally sensitive consumers. The Circular Economy Action Plan highlights the necessity of extending product lifecycles, in line with the concepts of the refurbished electronics market.

For instance, in July 2024, Revibe, a Dubai-based refurbished electronics company, was formed with a strong desire to address a significant environmental issue. Revibe, a Dubai-based start-up that sells refurbished gadgets, has raised $2.3 million in a preliminary fundraising round, which it plans to use to grow its product selection throughout the Middle East and North Africa and contribute more to the circular economy.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the refurbished electronics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Apple Inc.
• Amazon Renewed
• Samsung Electronics
• Lenovo Group Ltd.
• Reboot Systems India Private Limited.
• eBay Inc.
• Overcart
• Dell, Inc.
• HP Inc.
• Acer Inc.
• Back Market
• Best Buy Co. Inc.
• Gazelle
• Newegg Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2023, HP Inc. launched a refurbished laptop initiative in India, delivering old yet cost-effective computers to both retail consumers and companies via HP-certified partners who will provide after-sales assistance. The plan, which was introduced for the Indian market, is planned to be expanded to other markets in 2024, according to a corporate statement released on Thursday.

• In February 2023, Samsung announced the debut of a new range of refurbished smartphones named "Galaxy Certified Refurbished." The Galaxy Certified Refurbished smartphones will be available from Samsung's online store and approved merchants.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the refurbished electronics market based on the below-mentioned segments: 

Global Refurbished Electronics Market, By Product

• Smartphones
• Wearable Devices
• Computing Devices
• Home Appliances
• Sound and Vision
• Gaming Consoles

Global Refurbished Electronics Market, By Distribution Channel

• Offline Stores
• Online Stores

Global Refurbished Electronics Market, By End-user

• Corporate Offices
• Schools and Colleges
• Government Offices
• Individuals

Global Refurbished Electronics Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa