Refurbished and Used Mobile Phones Market Is Expand at a CAGR of 11.2% to Reach USD 145.9 Billion Between 2022-2031

The refurbished and used mobile phones market size was valued at $51.97 billion in 2021, and is estimated to reach $145.9 billion by 2031, growing at a CAGR of 11.2% from 2022 to 2031.

The refurbished phones segment is expected to experience significant growth in the coming years, owing to the growing demand for refurbished mobile phones has been steadily increasing over the past few years. This is attributed to refurbished phones being cheaper and offering similar features and performance.

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The market for refurbished and used mobile phones is experiencing significant growth driven by various factors. These phones, returned by consumers to manufacturers for various reasons, are repaired and thoroughly tested before being resold with a refurb tag. The availability of refurbished phones on online platforms, coupled with discounts, has led to increased market penetration, particularly in emerging economies.

Consumer reliance on smartphones globally and the availability of EMI options for purchasing phones contribute to market growth. The cost-efficient benefits of refurbished and used mobile phones also attract consumers. However, challenges such as limited availability of top models and shorter warranty periods may hinder market expansion.

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Nevertheless, the increasing adoption of e-commerce platforms by both buyers and sellers presents opportunities for market expansion. As e-commerce continues to grow, it provides a conducive environment for the sale and purchase of refurbished and used mobile phones. Overall, the market for refurbished and used mobile phones is poised for continued growth, driven by consumer demand and technological advancements.

Region-wise, North America held a significant global refurbished and used mobile phones market share, due to the increase in demand for consumer electronic services. U.S. and Canada currently dominate the regional market for North America. The main growth drivers of the refurbished and used mobile phones market analysis in this region is rise in consumer dependency on smart phone devices globally and increase in the number of companies providing EMI options for phone are the primary factors that drive the growth of the refurbished and used mobile phones market in Asia-Pacific, North America, Europe, and LAMEA.

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Key players profiled in the report include Apple Inc., Amazon, Samsung, Verizon Communications, Inc, Cashify, Walmart, eBay, Paytm, Huawei, AT&T Inc.

Table of Content:
Chapter 1 : INTRODUCTION
Chapter 2 : EXECUTIVE SUMMARY
Chapter 3 : MARKET OVERVIEW
Chapter 4 : REFURBISHED AND USED MOBILE PHONES MARKET, BY TYPE
Chapter 5 : REFURBISHED AND USED MOBILE PHONES MARKET, BY PRICE RANGE
Chapter 6 : REFURBISHED AND USED MOBILE PHONES MARKET, BY APPLICATION
Chapter 7 : REFURBISHED AND USED MOBILE PHONES MARKET, BY REGION
Chapter 8 : COMPETITIVE LANDSCAPE
Chapter 9 : COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES

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