The refurbished appliance market share is estimated to expand at a CAGR of 13.60% over the assessment period. In 2024, the market is expected to generate a revenue worth USD 9,809.5 million. By 2034, the market size is forecast to expand to USD 35,109.9 million.
The market for reconditioned appliance has expanded significantly in recent years due to a number of causes, including growing customer desire for reasonably priced yet dependable equipment and growing consciousness of environmental sustainability.
Pre-owned items brought back to nearly new condition are known as refurbished appliance, and they frequently come with guarantees and warranties.
Refurbished products are becoming increasingly popular among consumers who want to cut waste and lower their carbon footprint due to increased concerns about environmental sustainability.
| Attributes | Key Insights |
|---|---|
| Market Size in 2024 | USD 9,809.5 million |
| Market Value in 2034 | USD 35,109.9 million |
| Value-based CAGR from 2024 to 2034 | 13.60% |
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From 2019 to 2023, the refurbished appliance market experienced a CAGR of 13.10%. The market for refurbished appliance has expanded due to government programs supporting waste reduction and sustainable consumption.
Consumer perceptions of refurbished appliance have gradually changed in the market due to increased quality assurance efforts by retailers and manufacturers, cost savings, and environmental concerns.
In the upcoming years, the market for refurbished appliance will probably rise steadily due to a mix of environmental, technological, and economic concerns.
Refurbished appliance will become a more and more popular option for homes worldwide as long as efforts are made to enhance consumer perception and product quality. Projections indicate that the global refurbished appliance market is expected to experience a CAGR of 13.60% from 2024 to 2034.
| Historical CAGR (2019 to 2023) | 13.10% |
|---|---|
| Forecasted CAGR (2024 to 2034) | 13.60% |
The tables showcase essential economies such as the United States, Germany, China, India, and Japan, highlighting the refurbished appliance market dynamics. Based on a comprehensive analysis, India presents a substantial opportunity due to the strong presence of refurbished appliance providers.
| Countries | Forecast CAGRs from 2024 to 2034 |
|---|---|
| The United States | 8.40% |
| Germany | 9.10% |
| China | 15.90% |
| India | 16.70% |
| Japan | 16.20% |
The refurbished appliance market in the United States is expected to expand with a CAGR of 8.40% from 2024 to 2034. In the United States, an increasing focus on environmental sustainability drives people to look for environmentally friendly products. Because they reduce waste and prolong product lifespans, refurbished appliance support sustainability initiatives and appeal to eco-aware consumers.
In the United States, the market for refurbished appliance has been expanding rapidly in recent years. This development has been attributed to various factors, including growing consumer awareness of sustainability, cost-effectiveness, and technological breakthroughs in restoration techniques.
The refurbished appliance market in Germany is expected to expand with a CAGR of 9.10% from 2024 to 2034. Refurbished appliance available in Germany include various products such as refrigerators, washing machines, dryers, dishwashers, stoves, ovens, vacuum cleaners, and small kitchen appliances.
These appliance may be sourced from various channels, including customer returns, trade-ins, demonstration models, and excess inventory.
In Germany, several factors influence consumer demand for refurbished appliance. Many consumers are primarily motivated by cost savings when buying new equipment, especially considering Germany's reputation for producing high-quality but somewhat pricey appliance.
Refurbished appliance provide a more environmentally responsible option by prolonging the lifespan of existing equipment, appealing to consumers who are becoming more conscious of environmental sustainability.
The refurbished appliance market in China is set to register a CAGR of 15.90%. With a sizable population, China offers a diverse variety of income levels. Due to their cheaper costs compared to new products, refurbished appliance appeal to many customers, particularly those with limited budgets.
China's growing middle class is looking for more reasonably priced appliance that function well. This market finds refurbished appliance appealing because they balance quality and affordability.
Expanding online shopping sites in China has facilitated customer access to refurbished appliance. Online marketplaces give customers all around the nation convenience and choice by offering a large selection of refurbished products.
The Chinese government has supported the circular economy and product reuse and recycling. Initiatives and policies on sustainability and waste reduction could obliquely boost the market for refurbished appliance.
The refurbished appliance market in India has grown significantly in recent years due to shifting consumer preferences and environmental consciousness. The refurbished appliance market offers an economical and environment-friendly substitute. The refurbished appliance market in India is set to register a CAGR of 16.70%.
The main factor driving the refurbished appliance market in India is the growing middle-class population. As disposable income rises and urbanization accelerates, consumers seek to upgrade their lifestyles by investing in modern conveniences such as refrigerators, washing machines, and air conditioners. Increasing Indian government initiatives to promote sustainability and reduce waste generation drives market growth.
The refurbished appliance market in Japan is set to register a CAGR of 16.20%. The elderly population in Japan is one of the factors driving the refurbished appliance market.
The growing need for smaller and more energy-efficient appliance to meet the changing needs of an aging population is increasing as more people retire and reduce the size of their houses. Refurbished appliance offer an affordable option that enables them to modernize their living areas without going over budget for brand-new equipment.
Japan’s commitment to environmental sustainability is driving the adoption of refurbished appliance. Technological advancement and improvement in the refurbished processes have also contributed to refurbished appliance in Japan.
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The section below shows the leading segment. The home appliance segment is expected to account for a market share of 59% in 2024. Based on end-users, the commercial segment is expected to have a share of 53.4%.
| Category | Market Share |
|---|---|
| Home Appliance | 59% |
| Commercial | 53.4% |
The home appliance segment emerged as the dominant force in the refurbished appliance market, commanding 59% of the market share in 2024.
Essential household items include refrigerators, washing machines, dishwashers, and ovens. These appliance are always in demand due to things like urbanization, population increase, and changing lifestyles. As a result, there is a sizable and steady customer base for household appliance in the reconditioned market.
Buying new home appliance may be costly, particularly for high-end ones with cutting-edge features. Compared to new appliance, refurbished appliance can save a lot of money, making them a desirable choice for those on a tight budget or seeking good value.
Environmental sustainability is gaining popularity, and a lot of customers are looking for ways to cut back on waste and lessen their environmental impact. Reusing and refurbishing household appliance rather than throwing them away helps reduce waste and conserves resources, which aligns with the beliefs of customers who care about the environment.
Based on end-users, the commercial segment is expected to account for a market share of 53.4% in 2024. Commercial enterprises frequently have limited resources, particularly startups and small companies. Compared to buying brand-new equipment, refurbished appliance provide a more affordable option enabling firms to spend their resources more effectively.
Businesses require prompt replacements of commercial appliance when they unexpectedly break down to minimize downtime and continue operating. Refurbished appliance offer a quicker and more cost-effective solution than purchasing new equipment, allowing businesses to get back to their regular operations quickly.
Players in the sector can expand their audience and boost sales by building a strong online presence on e-commerce sites and corporate websites. Customers can conveniently search and buy refurbished appliance from online channels while lounging in the comfort of their own homes.
| Attributes | Details |
|---|---|
| Estimated Market Size in 2024 | USD 9,809.5 million |
| Projected Market Valuation in 2034 | USD 35,109.9 million |
| Value-based CAGR 2024 to 2034 | 13.6% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Market Segments Covered | Product Type, End User, Sales Channel, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Reebelo; Back Market; Amazon Renewed; Best Buy Outlet; Walmart Renewed; eBay Refurbished; Newegg Renewed; RefurbKing; FactoryPure; Sears Outlet; Wayfair Outlet; B&H Refurbished Appliance; AJ Madison Outlet; Costco; Renewgoo |
As of 2024, the market for refurbished appliance is expected to be valued at USD 9809.5 million.
By 2034, the market value of refurbished appliance is expected to reach USD 35,109.9 million.
From 2024 to 2034, the refurbished appliance market is expected to flourish at a CAGR of 13.60%.
The home appliance segment is expected to account for a market share of 59% in 2024.
India is likely the top-performing market, with a CAGR of 16.70%.
| Market Value (2023) | USD 196.1 million |
|---|---|
| Market Anticipated Value (2033) | USD 435.3 million |
| Projected Growth Rate (2023 to 2033) | 8.3% |
| Market CAGR (2023 to 2033) | 8.5% |
|---|---|
| Market Size (2023) | USD 371.0 million |
| Market Size (2033) | USD 838.9 million |
| Market Value (2023) | USD 797.3 Million |
|---|---|
| Market Value (2033) | USD 1.8 Billion |
| CAGR (2023 to 2033) | 8.7% |
| Estimated Market Size (2023) | USD 1,389.42 million |
|---|---|
| Projected Market Size (2033) | USD 3.0 billion |
| CAGR (2023 to 2033) | 8% |
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