Second Hand Appliances Market Scope Report

Global Second Hand Appliances Market Highlights Over 2023 - 2033

The global second hand appliances market is estimated to garner a revenue of USD 14000.0 Million by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 8000.0 Million in the year 2022. The growth of the market can be attributed to the growing demand for second hand appliances. There were more than 250 Million used smartphones shipped in the year 2021 worldwide.

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Second hand appliances refer to things that are not new and have been owned by someone else. They are already been used by someone else in the past and are available at a lower cost than previously owned products. Moreover, the used good retailers are offering their products through two main channels such as online and offline mode to the consumers. Furthermore, surging online stores are anticipated to increase the growth of the global second hand appliances market. For instance, there are between 11 Million -25 Million e-commerce sites around the globe in the year 2022.

Global Second Hand Appliances Market: Growth Drivers and Challenges

Growth Drivers

• Growing Concern for Environmental Issues– There has been growing environmental concern owing to the rising waste that has not been recycled. Hence, it is projected to boost the growth of the global second hand appliances market. Every year, more than 50 Million metric tons of electronic waste is generated around the world.

• Increasing Demand for Appliances- In the year 2021, global household appliance retail sales were more than USD 445 Billion.

• Increase in the Population– As per the World Bank, the total population has increased from 6.11 Billion in 2000 to 7.84 Billion in 2021.

• Rising Lower and Middle Class Adults– The lower and middle class adults are not able to buy expensive appliances leading to the purchase of second hand appliances. Therefore, it is anticipated to boost the growth of the global second hand appliances market.  In the United States, nearly 50 per cent of the adults belongs to middle class in the year 2022.

Challenges

• High Cost of the Second Hand Appliances

• Lack of Warranty

• Concerns Related to Durability as Compared to First Hand Appliances

The global second hand appliances market is segmented and analyzed for demand and supply by distribution channel into offline, and online. Out of these, the online segment is anticipated to hold the largest share over the forecast period owing to the sellers’ wish to cover more consumers through expanding in different locations with little cost. In the year 2021, e-retail sales crossed more than USD 5 Trillion across the globe.

Global Second Hand Appliances Market Regional Synopsis

Regionally, the global second hand appliances market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 on the back of rising demand of appliances, and increasing household numbers followed by a surge in the population. There were more than 500,000,000 households in China in the year 2020.

Market Segmentation

Our in-depth analysis of the global second hand appliances market includes the following segments:

Key Companies Dominating the Global Second Hand Appliances Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global second hand appliances market that are included in our report are ZEFO, eBay Inc., Carousell, OLX, Wallapop, OfferUp, Inc., Quikr, Varagesale, Shpock (finderly GmbH & Co KG), Letgo, and others.

Global Second Hand Appliances Market: Latest Developments

• September, 2022: eBay Inc., announced the partnership with Reskinned in order to expand its preloved offering and reduce growing fashion waste

• February, 2020: Quikr announced the launch of its first QuikrBazaar store in Chhattisgarh (India) that brings its assured products with a full warranty and replacement guarantee

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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