About the Report
Refurbished products are gradually making their presence felt in the consumer goods market. Tangible pricing advantage is one of the major factors that is driving the adoption of refurbished printers. Their adoption is slowly gaining pace as consumers are realizing that these printers are aesthetically identical and fully functional like the new ones.
Besides this, efforts undertaken by market players to promote refurbished printers is expected to play a key role in facilitating growth. They are undertaking efforts to further ensure easy availability and access of refurbished products in the market.
In its latest version of the study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for Refurbished Printers. The report tracks the global demand for refurbished printers in 20+ high-growth markets, along with analysing the impact COVID-19 has had on global sales.
How Does the Future Outlook Match Up with Historic Refurbished Printers Sales?
The sales of refurbished products have ballooned in the past few years. Consumers are increasingly gaining confidence in the refurbished printers as players t are engaged in offering extensive guarantees and warrantees. Besides this, small scale business units and start-ups are playing a key role in facilitating rise in adoption of refurbished printers in the market.
Besides this, growing concerns regarding e-waste are further driving the sales of refurbished printers. These factors have significantly contributed towards the market growth in the paste few years.
According to Future Market Insights analysis, refurbished printers sales are set to grow at a 9.2% CAGR between 2021 and 2031.
Refurbished Printers - a Solution to Growing e-Waste Concern
E-waste concerns are taking a front seat globally. In such a case refurbished products are increasingly looked upon as a best solution to encounter the e-waste problem. United Nations has considered e-waste as a global challenge that is posing a serious threat to the human health and the environment. As per the United Nations, around 50 million tons of e-waste is being thrown away every year.
In light of this, many electronics players in the market are undertaking efforts to cut down e-waste consumption. Besides this, with growing awareness of e-waste the concept of circular economy is equally gaining popularity in the market. Thus refurbished products are increasingly looked upon as best solution to tackle growing e-waste concerns. All of such factors are further expected to positively impact the sales of refurbished printers in the market.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Refurbished Printers Increasingly Seen as Testers by Business Units
Various industries are rapidly experiencing the emergence of small scale business units and startups. With growing penetration of small scale business units, the demand for refurbished printers is expected to scale up. Small-scale startups and enterprises have played a significant role in driving the sales of refurbished printers.
Price is one of the major tangible benefits that has led small-scale business units to adopt refurbished printers. Besides this, refurbished products are increasingly seen as testers by business units. Business units often buy office solutions like printers, scanners, and PCs in bulk. However, before making any huge investments in brands, business units are buying refurbished solutions to test brand performance. This is another prominent factor that has led to an increase in the sales of refurbished printers.
Consumers Slowly Switching To Sustainable Solutions
Since the past few years refurbished printers have gained significance in the eyes of environment-conscious consumers. Refurbished printers are considered as sustainable alternatives that help reduce electronic waste, which is one of the major reasons why they are today readily accepted by a number of consumers.
Many of the consumers have been satisfied with the purchase of refurbished electronics in terms of their functionality and performance. Affordable pricing is another significant factor that has stimulated the adoption of refurbished products like printers in the past few years.
How is the Concept of Refurbished Promoted in Media?
In the past few years, many magazines, journals, government and private organizations, and agencies have been promoting the idea and the need for sustainability through recycling products to reduce the amount of e-waste. In light of this, the concept of refurbished products such as PCs, laptops, printers, smartphones, and others has gained significance.
Extensive publications regarding the benefits of using refurbished products and buying guidelines related to refurbished electronics have further encouraged consumers in the market to switch towards refurbished products over new electronics in the market.
Who is Rental Business Approach Affecting Sales?
Besides offering refurbished products for sales, switching to rental business model is another trend highly observed in the market. To further capitalize on the demand and increase sales revenue, some regional and local players have made significant changes in their business models.
Besides offering refurbished printers for sale, some of the regional and local players are engaged in offering refurbished printers on lease and rental basis. Adoption of such strategy is likely to help players expand their profit ratios.
What are Practices Adopted by Players to Sell Refurbished Printers?
Being online is allowing players to improve their market reach, thus driving sales and revenue. Besides this, players need to consider closely factors that compel consumers to buy refurbished products. Pricing is one such important factor.
For a budget-conscious consumer who is eager to try out new technologies or brands without investing much, price is a key motivation to encourage the consumer to make a purchase. All of such consideration will help the players convert more refurbished printer sales in the market.
How is Re-Commerce Driving Market Growth?
Re-Commerce is the new trend that is likely to reshape the retail industry and significantly impact consumer preferences over the coming years. The growing significance of a circular economy has helped re-commerce gain prominence. Millennial and generation Z have a larger part to play in facilitating growth of Re-Commerce. With rising buying power, these generations are becoming more influential in the field of sustainable commerce. Thus a rapid penetration of refurbished printers is further expected to play a key role in facilitating market growth in the coming years.
What are the Challenges Encountered by the Market Players?
The outbreak of novel coronavirus has resulted in numerous disruptions in the supply chain. With stagnancy in business operations due to the restrictions imposed by the regional governments the demand growth of refurbished products took a backseat. On the other sides many small scale business units faced challenges on the financial front which further impacted the demand growth of refurbished printers in the commercial sector. However, with rapidly growing significance of work from home, the need for office essentials like printers, scanners, etc. has increased in the household sector.
Apart from this, availability of wider offerings is another challenge encountered in the market. Refurbished printers are sourced from customer returns and cancellations, overstocks, damaged products, etc. in such case scenarios the availability of refurbished printers cannot be always guaranteed by players.
Many consumers perceive refurbished products as inferior quality products that can’t offer the required level of performance. Prevalence of this perception in the mind of consumers is deterring them from buying refurbished printers. In light of this, many players operating in the market are offering refurbished printers under significant warranty with an aim to gain consumer confidence in the product.
The rapidly increasing desire among consumers to buy newly introduced technologies with additional features is likely to hinder the adoption of refurbished printers in the coming years. Many consumers prefer new printers over old models as they prefer staying up to date with new technologies in the market. This prevailing attitude in the mind of tech-savvy shoppers is likely to pose a challenge to players operating in the refurbished products market.
A Specular Shift towards Direct-to-Consumer Channel Observed in the U.S. Market
While a big chunk of consumers today still prefer buying refurbished products through brick and mortar stores after undertaking a physical product check themselves, many are switching towards online stores and retailers. This trend is facilitating growth in the direct to consumer sales channel in the U.S. market. In light of rapidly growing online penetration, many players like Epson, Xerox, Brother, and others are engaged in offering refurbished products through their own website stores directly to consumers.
Work from Home Culture Driving Demand in the U.K.
Work from home has been a prominent culture in the U.K. However, amid the pandemic outbreak, restrictions imposed by government to curb the spread of disease have further compelled employees to work from home. Thus, the growing work from home culture has significantly fuelled the demand for new as well as refurbished devices like printers in the country. The pandemic has created a greater need for printers while working at home temporarily, which is why many e-retailers have reported a surge in consumer interest in new and refurbished devices.
Refurbished Printers Increasingly looked on as Cost-effective Alternative in India
Rapid technology advancements have facilitated introduction of new electronics with smart features. However, the rise in technology has further stimulated prices for electronic products. Refurbished devices are increasingly seen as a cost-effective alternative by small-scale businesses. Buying a refurbished printer is a more viable solution for small businesses than paying a hefty retail price for new printers. Thus to save overhead and operating costs, small-scale businesses in India are likely to switch towards refurbished printers over new offerings.
Players Promoting Refurbished Printers as Rebuilt from the Ground Up in Australia
The players engaged in the refurbished industry are increasingly promoting refurbished products as rebuilt from scratch to just gain consumer confidence in the product. Besides this, the players are offering refurbished printers under extensive warranty periods and with hefty discounts.
To further gain consumer confidence in refurbished printers, they are offering complete description regarding the rigorous refurbishing process that the products are required to go through before sale. Such efforts on the part of existing players are likely to facilitate sales growth.
How is the Growth Unfolding in Brazil?
Brazil is expected to offer attractive growth opportunities to players. With rapidly growing penetration and emergence of small scale business units the demand for refurbished printers is expected to scale up in the coming years. Besides this, reasonable pricing is another factor that is further expected to drive the adoption of refurbished printers in Brazil. Facilitating easy access to refurbished printers is further likely to positively act in the favour of market growth.
Multifunctional-Refurbished Printers to Remain Top-selling Category
In terms of value share by product type, multifunctional refurbished printers are expected to hold a notable share followed by colored refurbished printers and black and white refurbished printers. The preferences for multifunctional printers is comparatively more as these devices facilitate multiple tasks like printing, copying, scanning, and others.
Multifunctional printers are looked over as all in one devices which replace the need for various other small devices like scanners, etc. In light of this, the category is further expected to register high growth CAGR during the forecast period.
Will Commercial Sector Emerge as Key End User?
According to the report, the demand for refurbished printers is likely to be more in commercial sectors such as manufacturing sector, retailers, government/defence, schools and universities, and others. The growing demand for sustainability among business units is further encouraging them to switch towards refurbished printers. Besides this, pricing is another tangible benefit that has attracted commercial sectors towards refurbished printers.
Which is the Preferred Application, Technology, and Sales Channel?
In terms of application, paper printing accounts for a notable revenue share in the market as paper printing is one of the most common aspects behind the adoption of printers. The category is further expected to register a significant CAGR growth. In terms of technology, laser printers account for a notable share in the market followed by inkjet and thermal. Besides this, convenience stores and specialty stores are prominent sales channel however with the rapidly growing digitalization, online sales are expected to register a prominent CAGR of 11.8%.
Currently, consumer confidence in the product is an important factor, which is why well-established players in the market are carrying out extensive promotion. These players are currently building trust by providing accurate and best possible product information and warranties.
Well-established players such as Xerox Corporation are providing more information regarding refurbished printers to help the consumers make informed and better purchase decisions. The company provides extensive details regarding its refurbished program, and terms and conditions regarding sales, exchange, etc. Maintaining such high level of transparency has helped the brand gain a strong reputation in the market.
Some of the leading companies operating in the market are:
- Xerox Corporation
- Seiko Epson Corporation
- HP Development Company
- Brother Industries, Ltd
- Erie Ink company
- Print Smart Office Solutions
- Metrofuser Company
- Refurbished Land
- Marathon Services
- PTM printer Solutions
- Athema Services Ltd
- Advanced Print Scan Solutions
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.
Scope of the Report
Historical Data Available for
USD Million for value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, South Africa, Brazil, Mexico,
Key Segments Covered
Product Type, End-Use, Product Format, and Region.
Key Companies Profiled
Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
Key Questions Answered in the Report
What is the Refurbished Printers Market Size?
The global refurbished printers market is expected to exhibit a CAGR of 9.2% during the forecast period 2021-2031. As per Future Market Insights, the global refurbished printers market valuation is around US$ 1,146.2 million in 2021
Which is the most lucrative market for Refurbished Printers?
The U.S. currently leads the global market for refurbished printers. The U.S. is expected to account for 25.3% of global sales in 2021.
Which are some of the leading companies in the Refurbished Printers market?
Some of the leading companies in Refurbished Printers market are Xerox Corporation, Seiko Epson Corporation, HP Development Company, Brother Industries, Ltd., Erie Ink Company, Print Smart Office Solutions, Metrofuser Company, Refurbished Land, Marathon Services, PTM Printer Solutions, Athema Services Ltd., Advanced print Scan Solutions and among others.
Who is the leading end user of refurbished printers?
Commercial sector will account for maximum sales of refurbished printers. Increasing focus on curbing the impact of e-waste will drive growth in the commercial sector.
Enquiry before Buying
- Is this research conducted by Future Market Insights?
Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst
- What research methodology is followed by Future Market Insights?
Future Market Insights follows a methodology that encompasses demand-side assessment of the market and triangulates the same through supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions. Request detailed methodology
- Who are the respondents for primary research?
Future Market Insights speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.
- What are the sources of secondary research?
Future Market Insights conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
- Is a sample of this report available for evaluation?
Yes, you can request a sample and it will be sent to you through an email.
- How can I buy this report?
Future Market Insights provides a secure online payment system to buy reports seamlessly. You can buy the report securely and safely.
Refurbished Printers Market by Category
- Multifunctional Refurbished Printers
- Colored Refurbished Printers
- Black and White Refurbished Printers
- Paper Printing
- Plastic Pouch Printing
- Product Printing
- Manufacturing Sector
- Below US$250
- Above US$750
- Specialty Stores
- Convenience Stores
- Direct Sales
- Online Retailers
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)