Press release
Refurbished Laptop Market Expected to Achieve 6.9% CAGR by 2029: Growth Forecast Insights
Refurbished Laptop
How Large Will the Refurbished Laptop Market Size By 2025?
The market size for refurbished laptops has seen significant expansion over the past few years. It is expected to increase from $7.73 billion in 2024 to $8.29 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. This substantial growth in the historical period can be ascribed to factors such as the escalating prices of new devices, the expansion of e-commerce, heightened consciousness about environmental sustainability, economic influences, the efficiency of refurbishment processes, and increased consumer confidence in refurbished products.
How Big Is the Refurbished Laptop Market Size Expected to Grow by 2029?
In the coming years, the refurbished laptop market is anticipated to display robust growth, escalating to $10.85 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%. This progression throughout the predicted period can be associated with the enduring growth of electronic waste, escalating consumer demand for environmentally-friendly alternatives like refurbished laptops, adoption of the circular economy model, proliferation of digital platforms and markets, and development of refurbished laptop strategies. Key trends expected during the forecast period are a heightened focus on sustainability, growing need for cost-effective computing, advancements in refurbishment technology, expansion of e-commerce, corporate sustainability drives, governmental regulations, consumer trust, education and promotional campaigns, product enhancement, and emergence of new markets.
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Which Key Market Drivers Powering Refurbished Laptop Market Expansion and Growth?
The forecasted growth of the refurbished laptop market is predicted to be driven by the escalating issue of e-waste. E-waste, or discarded electronics and devices such as computers, mobile phones, and domestic appliances, present health and environmental hazards if not appropriately managed or recycled. Refurbished laptops contribute to e-waste reduction by prolonging the life of these devices and decreasing the quantity of discarded electronics. For instance, a report from UNITAR in March 2024 indicated that global e-waste generation had hit a record 62 million metric tons in 2022, an increase of 82% from the numbers recorded in 2010. Prospects suggest that the figure stands to reach 82 million metric tons by 2030, marking a further increase of 32%. This rising tide of e-waste underpins the anticipated expansion of the refurbished laptop market.
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Which Fast-Growing Trends Are Poised to Disrupt the Refurbished Laptop Market?
Several significant organizations in the refurbished laptop market are emphasizing the development of refurbished laptop initiatives to cater to the rising need for affordable and eco-friendly computing solutions. These initiatives are typically managed by refurbishment companies or groups who collect old laptops, mend and enhance them if required, then re-sell or donate them to individuals, businesses, or communities. For instance, HP Inc., an American information technology firm, launched a refurbished laptops initiative in October 2023 to facilitate easier availability of reasonably priced laptops. The initiative's goal is to ensure accessible and trustworthy technology, particularly for learners with low to moderate income, and to offer cost-effective laptops to students, micro, and small enterprises, and freelancers. The program will be executed through a certified associate who will distribute the refurbished HP PCs to retail consumers and businesses.
What Are the Emerging Segments in the Refurbished Laptop Market?
The refurbished laptop market covered in this report is segmented -
1) By Grade: Grade A, Grade B, Grade C, Grade D
2) By Operating System: Windows Refurbish Laptops, Mac Refurbish Laptops, Other Operating Systems
3) By Screen Size: 11-13 Inches, 14-16 Inches, 17 Inches And Above
4) By Distribution Channel: Direct, Indirect
5) By End User: Individual Consumers, Businesses, Other End Users
Subsegments:
1) By Grade A: Like New, Excellent Condition
2) By Grade B: Good Condition, Minor Cosmetic Wear
3) By Grade C: Fair Condition, Noticeable Wear And Tear
4) By Grade D: Below Average Condition, Significant Wear And Tear
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Who Are the Global Leaders in the Refurbished Laptop Market?
Major companies operating in the refurbished laptop market are Walmart Inc., Amazon.com Inc., Microsoft Corporation, Dell Technologies Inc., Apple Inc., Hewlett-Packard Development Company, Lenovo Group Limited, Best Buy Co. Inc., Staples Inc., Office Depot Inc., eBay Inc., Micro Center Refurbished, Overstock Refurbished, Newegg Inc., Back Market, MacMall Refurbished, ecoATM Gazelle LLC, Mac of All Trades LLC, Tech for Less Inc., PCMag Shop Refurbished, Glyde Corporation, Acer Inc.
Which are the Top Profitable Regional Markets for the Refurbished Laptop Industry?
North America was the largest region in the refurbished laptop market in 2024. The regions covered in the refurbished laptop market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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