Second-hand Electronic Products Market Size - By Product Type (Smartphones & Tablets, TVs & Audio-Video Devices, Computers & Laptops, Cameras & Lens, Hard Disks/Printers and Monitors, Kitchen Appliances, Washing Machines/Refrigerators), By End Use, By Distribution Channel & Forecast 2024 -2032

Second-hand Electronic Products Market Size

Second-hand Electronic Products Market size was valued at USD 222 billion in 2023 and is anticipated to register a CAGR of over 3.8% between 2024 and 2032. The rapid pace of technological innovation leads to frequent upgrades, prompting consumers to sell or trade their used electronic devices. Second-hand electronics often attract price-sensitive consumers seeking cost-effective alternatives which can drive industry gains. Buyers may perceive used products as providing good value for money, especially if the product is still in good condition. Additionally, increasing awareness of environmental sustainability encourages consumers to extend the lifespan of electronic devices through resale which expected to drive the industry progression.
 

Consumers are increasingly showing interest in refurbished electronics, which are professionally restored to a like-new condition. This trend is driven by the desire for reliable and certified pre-owned products. Additionally, purchasing second-hand electronics often offers consumers the opportunity to acquire high-quality devices at a fraction of the cost of new ones.
 

Companies are adopting circular economy principles, emphasizing the sustainability of products throughout their lifecycle. This includes encouraging the resale and reuse of electronic devices. Additionally, manufacturers and consumers are recognizing the importance of extending the lifespan of electronic devices through repairs, upgrades, and proper maintenance.
 

The industry is constrained by the fast pace of technological innovation means that products become obsolete quickly, reducing the resale value of older devices and limiting the industry for certain products. Buyers may be concerned about the condition and reliability of second-hand electronic products. The risk of purchasing faulty or subpar items can discourage some consumers which is acting as restraints to the industry development. Additionally, second-hand products may not come with warranties or after-sales support, making consumers hesitant to purchase them due to concerns about potential issues and repair costs which are expected to hinder the industry development rate.
 

Second-hand Electronic Products Market Trends

The industry has experienced significant progress in recent years. This is attributed to factors such as technological advancements, shorter product lifecycles, and increased awareness of environmental sustainability. Used smartphones are commonly bought and sold due to frequent upgrades and new model releases. As technology evolves, many consumers seek affordable options for computing devices like cameras, gaming consoles, and audio equipment. Online marketplaces and dedicated platforms for buying and selling used electronics have become increasingly popular. Websites like eBay, Craigslist, Facebook Marketplace, and specialized platforms such as Gazelle and Declutter facilitate transactions.
 

Simultaneously, the refurbishment of electronics has become a prominent trend. Companies and individuals are involved in repairing, upgrading, and reselling products, extending their lifecycle. Additionally, growing awareness of environmental issues has led to increased interest in the circular economy. Consumers are more inclined to buy used electronics to reduce waste and promote sustainability. Continuous technological advancements lead to shorter product lifecycles, prompting consumers to upgrade more frequently. This contributes to a steady supply of used electronics in the business.
 

Second-hand Electronic Products Market Analysis

Based on product type, the market is divided into smartphones & tablets, TVs & audio-video devices, computers & laptops, cameras & lens, hard disks/printers and monitors, kitchen appliances, washing machines/refrigerators and others. The smartphone & tablets market segment held the largest share in 2023 of about 23% of the total industry. This segment is in huge demand due to the frequent upgrade cycles and high demand for these devices. Consumers tend to trade in or sell their used smartphones when they upgrade to newer models. The popularity of smartphones and tablets contributes to a robust market for used devices which is expected to propel the segment industry.
 

Based on end use, the second-hand electronic products market is categorized into individual and commercial. Commercial has the largest industry share, which is 69% of the total market due to businesses involved in the resale of refurbished electronics, electronic repair shops, or organizations looking to buy used electronics in bulk for their operations. Additionally, commercial entities often have the capacity to buy and sell electronic products in bulk. This allows them to negotiate better prices with suppliers and, in turn, offer competitive pricing to their customers.
 

Based on distribution channel, the second-hand electronic products market is divided into online and offline. Online is expected to dominate the segment market at the share of 65% due to the online platforms providing a global or at least a wider reach compared to offline stores. Sellers can connect with a larger audience, and buyers have access to a vast selection of products from different sellers, regions, and even countries.
 

The second-hand electronic products market witness’s revenue dominance in the forecast period primarily from the North America region, driven by a surging demand for Second-hand Electronic Products. North America region dominates the industry with a total share of 29% in the year 2023, this leading position is attributed to the increasing interest in second-hand electronic products as packaging industry and urbanization have expanded in the region. Forecasts suggest that this region will command a significant share of the global industry, propelled by rapid urbanization and economic growth. As urbanization gains momentum, a growing number of individuals are migrating to cities, elevating living standards, and presenting lucrative opportunities for the expansion of Second-hand Electronic Products. The rise in disposable income further contributes to this trend.
 

Second-hand Electronic Products Market Share

In 2023, dominant market players, including Amazon, eBay Marketplace, Facebook Marketplace, Shopify, OfferUp. The top five companies collectively hold a substantial 20 -25% market share. This market is a highly fragmented market. These industry leaders are actively engaged in strategic initiatives such as mergers & acquisitions, facility expansions, and partnerships to broaden their product portfolios, reach a wider customer base, and strengthen their market presence. These companies continuously invest in research and development to improve their electronic products and incorporate new technologies, allowing them to stay ahead of the competition.
 

Second-Hand Electronic Products Market Companies:

Major players operating in the industry include:

• Amazon
• eBay Marketplace
• Facebook Marketplace
• Shopify
• OfferUp
• Poshmark Marketplace
• ThreadUp Marketplace
• Tradesy Marketplace
• Mercari, Inc.
• Olx
• Walmart
   

Second-hand Electronic Products Industry News

• On February 7, 2023, Shopify, a Canada-based multinational e-commerce company, collaborated with UPS to offer domestic shipping options to merchants in the country. UPS is leading company that offers shipping and logistics services.
   
• In August 2020, Samsung introduced its new AI-based washing machine that helps the user to customize washing cycles.
   
• In July 2020, LG introduced Ultra Gear Gaming Monitor. It was a 27-inch monitor and the first 4K IPS one millisecond GTG gaming monitor in the globe.
   

The second-hand electronic products market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Million Units) from 2018 to 2032, for the following segments:

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By product type, (USD Billion; Million Units)

• Smartphones & Tablets
• TVs & Audio-Video Devices
• Computers & Laptops
• Cameras & Lens
• Hard Disks/Printers and Monitors
• Kitchen Appliances
• Washing Machines/Refrigerators
• Others (Computer Accessories, Gaming gadgets etc.)

By end use, (USD Billion; Million Units)

• Individual
• Commercial

By distribution channel, (USD Billion; Million Units)

• Online
• Offline

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Rest of North America 
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia    
  • Indonesia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA