The global market for Refurbished and Used Mobile Phones is expected to grow between 2023 and 2032 due to factors like affordability for emerging markets, reduced environmental impact, cost savings, and quick replacement for lost or damaged phones.
The Global Refurbished and Used Mobile Phones Market was valued at USD 52.23 Billion in 2022 and is projected to reach USD 116.46 Billion by 2032, registering a CAGR of 8.40% for the forecast period 2023-2032.
Global Refurbished and Used Mobile Phones Market Drivers
- Affordability for Emerging Markets: Used and refurbished cell phones typically have lower prices than new ones. Because of their affordability, they present an alluring option for customers in developing nations who may be on a tight budget but still desire access to cutting-edge smartphones. A sizable section of the populace in emerging markets frequently has lower income levels. Customers in these areas are very price-conscious, so those searching for inexpensive options without sacrificing essential mobile features are drawn to refurbished phones because of their lower price. A greater number of people can access technology and mobile connectivity thanks to affordability. Customers who might not be able to afford new smartphones but still want to take advantage of the features can start using refurbished and used phones.
- Reduced Environmental Impact: Used and refurbished cell phones help cut down on electronic waste. Refurbishing and reselling mobile devices helps them last longer and reduces the number of phones that end up in landfills, which lessens the environmental impact of disposing of electronic waste. The process of producing new smartphones requires the extraction of raw materials, the use of energy, and the utilization of resources like plastics, metals, and minerals. Choosing refurbished phones encourages the reuse of current devices rather than the creation of new ones, which helps conserve these resources. Electronic device manufacturing, which includes the production of smartphones, uses a lot of energy.
- Cost Savings: Refurbished and used cell phones appeal to consumers on a tight budget or looking for less expensive options. Students, young professionals, or those on fixed incomes who value having a working smartphone without having to pay the higher prices of new devices may fall into this category. Phones that have been refurbished provide a good mix of price and features. Customers view them as a way to save money and get a dependable smartphone for a small portion of the price of a brand-new one. Those who might not otherwise be able or willing to invest in a new device have an easier time entering the market thanks to the lower price point of refurbished and used mobile phones. This broadens the market's target demographic.
- Quick Replacement for Lost or Damaged Phones: It can be expensive to buy a new phone when customers misplace or break their old ones. Used and refurbished cell phones offer a more affordable option. These phones are less expensive, so people can easily replace their broken or lost phones without having to worry about breaking the bank. Used and refurbished cell phones are widely accessible in the market. This prompt availability is essential for people who require a replacement gadget immediately. Without having to wait for the release of new models or deal with the hassles of placing an order for a new phone, consumers can locate a suitable substitute. Users may experience downtime while they wait for a new phone to be shipped or deal with drawn-out repair procedures.
- Walmart launched the in-store pilot program to sell refurbished iPhones (2022)
- Fair Phone, a Dutch social enterprise, began selling refurbished smartphones (2021)
- The iPhone 12 and iPhone 12 Pro models were introduced to Apple's official Certified Refurbished store. (2022)
Challenges Impacting the Global Refurbished and Used Mobile Phones Market
- Trade-in Value Difficulty: Although trade-in schemes have the potential to encourage customers to convert to refurbished phones, the trade-in values provided by carriers or manufacturers might not always meet customer expectations. This might affect how appealing these programs are.
- Division of the Market: The market for reconditioned and used smartphones can be fragmented due to a wide range of sellers and different requirements for quality. Customers may find it difficult to navigate the market as a result of this fragmentation if there are variations in the quality and dependability of the devices.
- Financial Elements: Uncertainties or downturns in the economy can affect how much consumers spend. When the economy is hard, people might prefer to buy brand-new, longer-lasting electronics with warranties rather than reconditioned or used ones.
- Unfavorable Customer Experiences: Customer trust can be impacted by unfavorable experiences, such as getting a refurbished device that isn't up to par or having problems during the purchase process. Online reviews and word-of-mouth can have an impact on how prospective buyers view the refurbished market and make decisions.
| Attributes | Details |
| Market Size in 2022 | USD 52.23 Billion |
| Market Forecast in 2032 | USD 116.46 Billion |
| Compound Annual Growth Rate (CAGR) | 8.40 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Sales Channel, By Price Range & By Region |
| By Type |
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| By Sales Channel |
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| By Price Range |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2018 - 2022 |
| Forecast Year | 2023 - 2032 |
Category-wise Analysis:
By Type:
- Refurbished Phones: Before being resold, refurbished phones usually go through extensive testing and quality assurance procedures. These procedures entail finding and fixing any flaws or problems to guarantee that the reconditioned gadgets satisfy particular quality requirements. Refurbished phones are different from regularly used ones because of this dedication to quality. A large number of reconditioned phones are included in certification programs offered by manufacturers or licensed refurbishes. These initiatives give customers the reassurance that the equipment has been examined, fixed as necessary, and confirmed to be in good operating order. A layer of transparency and trust is added to the refurbishment process through certification. Warranty coverage is frequently included with refurbished phones, giving customers a certain amount of assurance and defense against potential flaws or malfunctions.
- Used Phones: Generally speaking, used phones are less expensive than new ones. This cheaper price point appeals to consumers on a tight budget who want a more affordable option than purchasing a new phone. Used phones are more affordable, so a wider range of consumers including those who might not have the funds to buy a new device can afford them. This affordable factor draws in a wide range of customers and broadens the market. A wide range of entry-level and mid-range smartphones are frequently included in the used phone market. This gives customers options in a variety of price points, enabling them to select gadgets that fit their needs and budget.
- $200-$500: A balance is struck between affordability and the expectation of quality in the $200–$500 price range. Customers in this market are searching for products with dependable features and performance at a reasonable price. Customers can choose from several mid-range and even some premium smartphone models within the $200 to $500 price range. Customers looking for a gadget with a respectable feature set without the premium price tag of brand-new flagship models are drawn to this. In general, devices in the $200–$500 range provide a good mix of features and performance. Even though they might not have the newest features, they frequently offer good performance for routine tasks in addition to a variety of features that meet need of many users.
- Less than $200: Entry-level and mid-range devices are frequently included in the less than $200 category. These gadgets might still function satisfactorily for routine activities and communication requirements, making them appropriate for a sizeable section of the market. Less than $200 is a popular price range for consumers shopping for backup phones or replacement gadgets. This is especially true for people who want to stick to a tight budget but still need a speedy replacement for a broken or lost phone. First-time smartphone purchasers are probably going to look into smartphones under $200, especially in emerging markets. People switching from feature phones to smartphones can enter the smartphone market within this price range without having to make a significant financial commitment.
- More than $500: Smartphone models that fall into the "more than $500" category are usually flagship and high-end models. In this market segment, a lot of customers are drawn to high-end gadgets with cutting-edge technology, excellent specs, and sophisticated features. When purchasing a refurbished or used phone, buyers who are prepared to pay over $500 are frequently in search of the newest and most sophisticated features. Better cameras, potent processors, more storage, and other premium features are examples of this. Some buyers prefer flagship models from well-known manufacturers because they have strong brand loyalty. To get the newest features and designs that luxury brands have to offer, they are prepared to spend money on reconditioned or secondhand phones from those brands.
Regional Analysis:
North America:
- United States: A sizable portion of people in the US have smartphones, indicating a high rate of smartphone adoption in the country. A significant amount of used phones are coming onto the market as consumers upgrade their gadgets, which is good news for the refurbished and used mobile phone market. Rapid technological advancements and a culture of early tech adoption are features of the U.S. market. Because of the continuous flow of newer models, people are forced to sell or trade in their old phones, which increases the supply of refurbished phones. In the US, trade-in and upgrade programs are frequently offered by major carriers and smartphone manufacturers.
- Canada: Like many other places, Canada has a market of frugal shoppers searching for less expensive substitutes for brand-new electronics. Used and refurbished smartphones offer a cost-effective choice for people trying to cut costs on their smartphone purchases. Canada is dedicated to cutting down on electronic waste and is becoming more conscious of environmental sustainability. Choosing reconditioned and used phones extends the lifecycle of mobile devices, which is in line with the nation's focus on sustainability. In Canada, trade-in programs are frequently offered by mobile carriers and retailers to entice customers to trade in their old phones for discounts on refurbished or new models.
- China: One of the biggest and fastest-growing consumer markets in the world is found in China. The population's sheer size fuels a significant demand for smartphones, both brand-new and reconditioned models. Economic factors are very important. Refurbished and used phones are more widely available at lower price points, appealing to a wider variety of customers, including those who have more economical tastes. Value for money and affordability are important factors to Chinese consumers. For individuals seeking a dependable smartphone without having to pay the premium price tag for brand-new gadgets, refurbished and used mobile phones offer a financially advantageous choice. Chinese consumers have a reputation for embracing new technologies rapidly.
- India: A preference for sustainable and environmentally friendly options is rising as people become more conscious of the environment. This trend is supported by refurbished phones since they encourage device reuse and cut down on electronic waste. Used and refurbished cell phones help close the digital divide by making technology more accessible at a reasonable price. This is especially true in a nation where mobile devices are essential for many facets of daily life, such as communication and education. Customers in India are upgrading their smartphones on a regular basis due to the country's fast adoption of new technology. This causes a significant amount of used electronics to enter the market, satisfying the demand for refurbished phones.
- Southeast Asia: The use and adoption of smartphones has increased dramatically in Southeast Asia. As more individuals in the area purchase smartphones, there is a growing need for reasonably priced gadgets, such as reconditioned and secondhand phones. Most people from Southeast Asia are youthful and tech-savvy. When it comes to fulfilling their technological demands within a certain price range, this group is frequently willing to consider a variety of options, including refurbished devices. The availability of reconditioned and used mobile phones has been made easier by the expansion of e-commerce platforms in Southeast Asia. Online marketplaces contribute to the market's presence by giving customers an easy way to browse and buy such devices.
- Western Europe: Wealthy and tech-savvy people can be willing to buy high-quality reconditioned electronics in Western Europe. This region's comparatively higher disposable income gives consumers more options, including the ability to choose reasonably priced refurbished phones. It is essential to have access to certified refurbished devices that meet dependable quality standards. A greater degree of consumer confidence in the market is ensured by the availability of certified refurbished products, as Western Europe frequently has strict regulations and quality standards.
- Eastern Europe: The availability of reconditioned and used mobile phones is made easier by the expansion of online retail and e-commerce platforms. Eastern European consumers have the convenience of browsing and buying devices online, which helps to expand the market. Refurbished and used phones may become more popular in areas with a large youth population, especially among tech-savvy people searching for less expensive options. Younger buyers may be more willing to buy slightly older models if they suit their needs.
- Brazil: Brazil's middle class is growing, which has raised demand for consumer electronics. Refurbished phones can be a great fit for those in the growing middle class who are looking for dependable and affordable mobile solutions. Through online marketplaces, consumers in Brazil can easily purchase refurbished and used mobile phones thanks to the growth of e-commerce in the country. One factor driving the market's growth is how simple it is to browse and buy products online. Refurbished phones may be more appealing to Brazilian customers as an environmentally friendly alternative as a result of growing awareness of environmental sustainability, which would help cut down on the country's electronic waste.
- Mexico: Market penetration is aided by the availability of reconditioned and used phones via a variety of brick-and-mortar and online retail channels. These devices may be easily accessible to Mexican consumers thanks to well-established distribution networks. The lifespan of smartphones is getting shorter as technology develops, which increases the number of devices being replaced. Due to this cycle, there is a need for reasonably priced solutions. Refurbished electronics can fill this need while keeping up with the rapid advancement of technology. Refurbished phone sales are made easier by the expansion of online marketplaces and e-commerce platforms.
- Middle East: The region's economic expansion has raised people's disposable income, which has encouraged them to spend more on consumer electronics like smartphones. A considerable segment of the populace finds value in buying reconditioned or used phones, freeing up funds for other expenses, even though some choose luxury flagship models. Compared to other regions, the Middle East has a lower stigma associated with purchasing pre-owned goods. The market is further supported by this cultural acceptance as well as the quality and warranty guarantees provided by reliable retailers of reconditioned phones.
- Africa: For many African consumers, brand-new smartphones can be prohibitively expensive; however, reconditioned and secondhand phones provide access to the newest technology at a much more affordable price. They appeal to a wide range of people because of this. A young, tech-savvy population, better internet connectivity, and rising disposable income are all contributing to Africa's fast rising mobile phone penetration rate. The market for reconditioned and used goods helps to meet some of this increasing demand. In Africa, the refurbished and used market is dominated by the mid-priced segment. The majority of customers find that these phones balance affordability and features well, making them an excellent value.
- Australia and New Zealand: The mobile phone markets in Australia and New Zealand are both established and stable. Consumers in mature markets tend to upgrade their phones more frequently, which results in a higher turnover of devices and a healthy market for refurbished and used goods. The buying and selling of reconditioned and used phones is made easier in Australia and New Zealand by the existence of well-established retail channels and e-commerce platforms. These devices are easily accessible to consumers through a variety of retail locations and online marketplaces.
List of Prominent Players:
- Apple Inc.
- Amazon
- Samsung
- Verizon Communications, Inc.
- Cashify
- Walmart
- eBay
- Paytm
- Huawei
- Yaantra
- AT&T Inc.
- Others
By Type:
- Refurbished Phones
- Used Phones
- Less than $200
- $200-$500
- More than $500
- Online
- Offline
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
- Asia Pacific (China, Japan, India, Southeast Asia, Rest of APAC)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (GCC Countries, UAE, Rest of MEA)
