In recent years, there has been a shift towards adopting more environmentally sustainable ways of working. Large-scale electronic giants are now becoming more and more aware of the environment and their goals to achieve maximum sustainability. With the increasing need to achieve sustainability in daily and routine operations and focus on reducing the carbon footprint, many electronic giants are now turning to recycling and refurbishing electronic products. These efforts by the actors also aim to reduce the generation of e-waste globally.
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Besides, many industries are making numerous efforts to reduce their carbon footprint. They are actively shifting towards adopting sustainable office solutions such as refurbished printers. According to the report, the commercial segment will account for more than 63% of refurbished printer sales in 2021.
Rapidly increasing concerns about e-waste have promoted the concept of a circular economy that is expected to facilitate the growth of sales of refurbished printers. According to United Nations statistics, approximately 50 million tons of e-waste are dumped every year. Such dire statistics have encouraged a shift towards refurbished products in the market
Key Takeaways from Refurbished Printer Market Study
- Refurbished printer sales are set to grow at a compound annual growth rate of 9.2% between 2021 and 2031
- The presence of several prominent players will govern the hegemony of the United States in North America. It is expected to account for more than 80% of sales in the North American market
- The UK will grow 2.2% y/y in 2021, after a period of weak sales
- Germany and France will emerge as a profitable market for sales of refurbished printers in Europe
- Increasing the number of small businesses will enable double-digit growth in China
The direct-to-consumer sales channel reshapes the consumer orientation in the market. market Also witnessing is the emergence of private online retailers who are only involved in selling branded refurbished products. Besides, to attract consumers, players offer extensive warranties and guarantees Says an FMI analyst.
Impact of COVID-19 on the market:
The outbreak of the new Corona virus has affected both positively and negatively. In the event of negative effects, market players have faced many disruptions in supply chains. However, the outbreak of the pandemic has encouraged a culture of working from home which is why the need for essential office equipment while working remotely has increased in the past few months. In such cases, refurbished products are viewed as the best solutions that help in meeting the needs at affordable prices.
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Who’s the winner?
Some of the major players present in refurbished printers are Seiko Epson Corporation, Xerox Corporation and Brother Industries Ltd. HP Development Company, Print Smart Office Solutions, Erie Ink Company, Refurbished Land, Metrofuser Company, Marathon Services, and Athema Services Ltd. and PTM printer solutions, advanced scanning solutions and more.
Gain valuable insights into the refurbished printer market
Future Market Insights, in its new presentation, provides an unbiased analysis of the global refurbished printer market, presenting historical demand data (2016-2020) and forecasting statistics for the period from 2021-2031. The study reveals compelling insights into the Refurbished Printers Market based on Product Type (Refurbished MFPs, Refurbished Color Printers, Refurbished Black and White Printers), Application (Paper Printing, Plastic Bags Printing, Product Printing), End Use (Household/Single and Commercial) Price Range (Under $250, $250-$500, $500-$750, Over $750), Technology (Inkjet, Thermal Sublimation, Dye Sublimation, Laser etc.) and Sales Channel ( Specialty stores, convenience stores, direct sales, online retailers, etc.) across seven major regions.
- Refurbished Multifunction Printers
- Refurbished color printers
- Refurbished black and white printers
- paper printing
- plastic bag printing
- product printing
- family / individual
- manufacturing sector
- Less than 250 USD
- 250 USD – 500 USD
- 500 USD – 750 USD
- Above 750 USD
- dye sublimation
- Specialty Stores
- direct sales
- Online retailers
- North America
- Latin america
- East Asia
- South Asia
- Middle East and Africa (MEA)
Answer the main questions in the report
What is the market size of refurbished printers?
What is the most lucrative market for refurbished printers?
What are some of the leading companies in the refurbished printer market?
Who is the leading end user of refurbished printers?
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