What Is The Scope Of The Global Refurbished Laptop Market?
A refurbished laptop refers to a used laptop that has undergone rigorous quality checks, repairs, upgrades, and cleaning before being resold. Refurbished laptops undergo rigorous testing and inspection processes to meet quality standards and function properly. The refurbishing process typically involves inspection, testing, restoration and wiping any data left by the original user and restoring the laptop to factory settings.
Refurbished Laptop Global Market Report 2024 provides data on the global refurbished laptop market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The refurbished laptop market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Refurbished LaptopMarket Expected To Grow In Size And Annual Rates?
The refurbished laptop market has shown steady growth, increasing from $7.24 billion in 2023 to $7.73 billion in 2024 at a CAGR of 6.7%. Growth has been fueled by rising new device costs, e-commerce expansion, heightened awareness of environmental sustainability, economic factors, and improved refurbishment processes. The market is projected to grow to $10.15 billion by 2028 at a CAGR of 7%. Growth will be driven by increased e-waste, demand for sustainable alternatives, adoption of circular economy principles, and the expansion of online platforms. Trends include a focus on sustainability, rising demand for affordable computing, advancements in refurbishment technology, growth of e-commerce, corporate sustainability initiatives, government regulations, consumer confidence, and innovation in emerging markets.
What Main Forces Are Fueling Expansion In The Refurbished Laptop Market?
The rising levels of e-waste are predicted to drive the refurbished laptop market. E-waste consists of discarded electronic devices, which, if not properly disposed of or recycled, can lead to environmental and health hazards. Refurbished laptops help reduce e-waste by extending the lifespan of these devices and lowering the volume of electronic waste. In March 2024, the United Nations Institute for Training and Research reported that global e-waste production hit a record high of 62 million metric tons in 2022, and it is expected to reach 82 million metric tons by 2030. As a result, the increasing accumulation of e-waste is propelling the growth of the refurbished laptop market.
Get Your Free Sample of the Global Refurbished Laptop Market Report
What Are The Primary Segments In The Global 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
Which Key Trends Are Driving Changes In The Refurbished Laptop Market?
In the refurbished laptop market, companies are introducing refurbished laptop programs to address the increasing demand for affordable and sustainable computing solutions. These programs involve refurbishing old laptops, upgrading and repairing them, and then reselling or donating them to businesses, individuals, or communities. For example, in October 2023, HP Inc. launched a refurbished laptop program to offer low-cost access to reliable laptops, particularly for students, small businesses, and freelancers. The program works with a certified partner to resell the refurbished laptops to retail customers and businesses.
What Is The Leading Region In The Refurbished Laptop Market?
North America was the largest region in the refurbished laptop market in 2023. The regions covered in the refurbished laptop market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
