Refurbished Electronics Market is Estimated to Witness High Growth Owing to Opportunity of Lower Costs

Mia Yates

Refurbished Electronics Market is Estimated to Witness High Growth Owing to Opportunity of Lower Costs

Refurbished electronics include pre-owned electronic devices that have been checked, repaired if necessary and certified for resale or donated. Refurbished electronic products such as smartphones, computers, laptops and tablets provide an affordable alternative to purchasing new devices with their lower costs. The demand for refurbished products is increasing due to the rising prices of newer models and growing adoption of sustainable consumption.

The Global Refurbished Electronics Market Size is estimated to be valued at US$ 55.64 Bn in 2024 and is expected to exhibit a CAGR of 45% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The growing environmental concerns amongst consumers regarding e-waste generated from non-reusable electronic products is a major market opportunity for refurbished electronics. Refurbishing and reuse of used electronics helps reduce e-waste and improves resource efficiency. According to estimates, replacing new purchases with refurbished electronics can reduce carbon, water and waste footprints significantly. The lower costs coupled with environment friendly nature of refurbished electronics are expected to drive higher demand over the forecast period.

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate as there are high fixed costs and equipment associated with setting up production of refurbished electronics. However, the established brands have strong brand recognition and distribution channels.

Bargaining power of buyers: The bargaining power of buyers is high given the availability of many options at lower prices. Buyers can easily switch to other alternatives if prices are not competitive.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many parts and component suppliers for the refurbished electronics market.

Threat of new substitutes: The threat of new substitutes is high due to availability of low-cost new products and innovations such as embedded tablets and smartphones.

Competitive rivalry: The competitive rivalry is high among key players such as Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare owing to aggressive pricing and new product launches.

SWOT Analysis

Strengths: Growing consumer preference for affordable electronics. Established supply chains for refurbished products.

Weaknesses: Perceived lower quality than new products. Lack of standardisation in refurbishing processes.

Opportunities: Untapped markets in developing regions. Refurbishing of premium electronics brands. Growing adoption of Internet of Things (IoT) devices.

Threats: Stringent regulations regarding e-waste disposal. Decline in prices of new electronics.

Key Takeaways

The global refurbished electronics market is expected to witness high growth during the forecast period of 2024 to 2031. The market size for 2024 is estimated to be US$ 55.64 Bn.

Regional analysis: The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The large population, rising per capita incomes and increasing smartphone and electronics adoption are driving the market. Countries like India, China, Indonesia, Vietnam offer lucrative growth opportunities. North America and Europe are also prominent markets due to strong refurbished programs by electronics brands.

Key players: Key players operating in the refurbished electronics market are Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare, Lantheus Medical Imaging, Inc., International Isotopes, Inc., Nordion, Eckert & Zieger, Acrotech Biopharma, Blue Earth Diagnostics, Zionexa, Bayer AG, Jubilant Pharma Limited, and Cardinal Health. Siemens Healthcare GmbH leads the medical imaging segment while Apple and Samsung are dominant in the mobile phone category globally.

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Mia Yates

Refurbished Electronics Market Is Estimated To Witness High Growth Owing To Increasing Demand for Affordable Electronic Products

Ashish Thapa 2023-09-08

With the increasing demand for electronic products and the rising awareness about sustainability and recycling, the refurbished electronics market is expected to witness significant growth in the forecast period. The global Refurbished Electronics Market Size is estimated to be valued at US$ 48. are offering a wide range of refurbished electronic products, providing customers with a convenient and hassle-free shopping experience. Increasing awareness about the environmental impact of electronic waste and the benefits of buying refurbished products contributes to market growth. In terms of regional analysis, North America is projected to be the fastest-growing and dominating region in the refurbished electronics market.

Refurbished Electronics Market Expected to Reach US$ 48.29 Billion by 2023: Coherent Market Insights

Pooja Khodke 2023-10-27

The growing demand for cost-effective electronics and the increasing awareness about environmental sustainability are driving the market growth for refurbished electronics. Segment Analysis:The refurbished electronics market can be segmented based on product type, end-user, and distribution channel. Key Takeaways:The global Refurbished Electronics Market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period. In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the refurbished electronics market. Key players operating in the refurbished electronics market include Apple Inc.

Refurbished Electronics Market Is Estimated To Witness High Growth Owing To Opportunity In Recycling

Poonam 2024-01-11

The global refurbished electronics Market is estimated to be valued at US$ 48. The market opportunity in e-waste recycling through refurbished electronics is driving many OEMs, electronics retailers as well as third party refurbished companies to offer repair, reuse and resale of older electronics products, thereby boosting the refurbished electronics market growth. Key Takeaways The global Refurbished Electronics Market Growth is expected to witness high growth over the forecast period of 2023 to 2030, growing at a CAGR of 45%. Regional analysis: Asia Pacific currently holds the largest share of the refurbished electronics market and is expected to maintain its dominance through 2030. Key players operating in the refurbished electronics market are Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare, Lantheus Medical Imaging, Inc.

Why Refurbished Mobiles are Cheap?

rohitonweb 0.2 2021-04-14

Over the past few years, it has been noticed that there is a huge rising trend of refurbished products in the market places.https://www.linkedin.com/pulse/why-refurbished-mobiles-cheap-vikas-singh/?published=t

The global Refurbished Medical Equipment Market is estimated to Growth Accelerated by Increased Demand for Affordable Healthcare Solutions

Sumedha 2024-02-02

The refurbished medical equipment market consists of medical devices that have been refurbished or reconditioned. The global Refurbished Medical Equipment Market is estimated to be valued at US$ 14. As healthcare costs continue escalating globally, the demand for lower-cost alternatives like refurbished medical equipment is expected to increase substantially. The tangible cost savings will drive more adoption of refurbished medical equipment over the forecast period. Regulations around refurbished medical equipment also pose a barrier. The global Refurbished Medical Equipment Market is estimated to be valued at US$ 14.

Global Refurbished Medical Equipment Market Growth Accelerated by Increasing Adoption of Refurbished Medical Equipment

Sneha 2024-01-09

The global Refurbished Medical Equipment Market is estimated to be valued at US$ 3. Segment AnalysisThe global refurbished medical equipment market is segmented on the basis of modality into X-ray systems, CT scanners, MRI systems, ultrasound systems, and others. Key TakeawaysThe Global Refurbished Medical Equipment Market Size is expected to witness high growth. The global Refurbished Medical Equipment Market is estimated to be valued at US$ 3. Regional analysis related content comprises the North American region currently dominates the refurbished medical equipment market due to the increasing geriatric population suffering from chronic diseases and growing awareness about the benefits of refurbished medical equipment. Key players operating in the refurbished medical equipment market are GE Healthcare, Philips Healthcare, Siemens Healthineers, Block Imaging International, Inc.

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The Economic Impact of Refurbished Medical Equipment on Healthcare Systems

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The economic impact of refurbished medical equipment on healthcare systems can be significant. For hospitals and other healthcare organizations, the use of refurbished equipment can help to reduce costs, improve efficiency, and free up capital for other investments. In addition to the financial benefits, the use of refurbished medical equipment can also have a positive impact on the environment. The economic impact of refurbished medical equipment on healthcare systems can be significant. For hospitals and other healthcare organizations, the use of refurbished equipment can help to reduce costs, improve efficiency, and free up capital for other investments. In addition to the financial benefits, the use of refurbished medical equipment can also have a positive impact on the environment. The system saved an estimated $2 million per year by using refurbished medical equipment. As the cost of new medical equipment continues to rise, the use of refurbished equipment is becoming an increasingly attractive option for healthcare organizations.

Refurbished Medical Imaging Device Market Trends, Size & Forecast Report to 2030

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The entire refurbished medical imaging device market has been sub-categorized into product. Request a FREE Sample Copy of Global Refurbished Medical Imaging Device Market Report with Full TOC At: https://www. com/contact/refurbished-medical-imaging-device-market/download-sampleBy ProductMRICT ScannerUltrasoundX-RayMammographyBrowse Full Global Refurbished Medical Imaging Device Market Research Report With TOC At: https://www. The major players in the refurbished medical imaging device market include GE Healthcare, Philips Healthcare, Toshiba Medical Systems, TeraRecon Inc. Purchase complete Global Refurbished Medical Imaging Device Market Research Report At: https://www.

Electronics

your cull 2019-10-20

https://www.yourcull.com/ElectronicsYourcull.com- online shopping india- buy home decor items, essential oil diffusers, kitchen accessories, refurbished laptops more.

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Refurbished Medical Equipment Market driven by increasing cost of healthcare infrastructure is set to gain traction

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This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

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This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Refurbished Printers Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/refurbished-printers-market/download-sampleMarket DynamicsRefurbished printers are cost-effective and sold to the user at a low cost compared to the price of the new printer are the key factor driving the market growth.

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Want a used phone? Refurbished mobiles can be best but costlier

rohitonweb 2021-03-10

With smartphone firms launching new phones virtually every week with higher specs and style, users are moving to newer devices quicker than ever before.

Most smartphone customers upgrade to a brand-new phone at intervals six to twelve months, and any freshly launched phone finds its method into the second-hand smartphone market at intervals four to 6 months.

Not amazingly, the used smartphone market is additionally choosing pace, and changing into additional refined.

Refurbished mobile phones India currently being tested on many parameters and repaired and being given the refurbished tag.https://cartaadme76.medium.com/want-a-used-phone-refurbished-mobiles-can-be-best-but-costlier-5d6c00a5fb54

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https://www.yourcull.com/ElectronicsYourcull.com- online shopping india- buy home decor items, essential oil diffusers, kitchen accessories, refurbished laptops more.

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In addition to this, it offers better printing quality and helps to reduce electronic wastage.

Rising demand from corporate offices, educational & financial institutions and government offices are likely to propel the demand.

Owing to the expansion of the electronics industry and advance technology in the printing sector will expand the market in the upcoming year.

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Want a used phone? Refurbished mobiles can be best but costlier

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With smartphone firms launching new phones virtually every week with higher specs and style, users are moving to newer devices quicker than ever before.

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