Global refurbished printers market is expected to grow at a healthy CAGR of over 9.2% during the study forecast period 2021-2031, despite a period of less growth in 2020, according to a latest study by ESOMAR-certified market research firm, Future Market Insights (FMI). The research study tracks refurbished printers sales in 20+ countries, offering an in-depth analysis… Read More »Refurbished Printers Market 2021 Outlook, Current and Future Industry Landscape Analysis 2031
2021 Outlook for the Refurbished Printers Market: Analysis to 2031
Global refurbished printers market is
expected to grow at a healthy CAGR of over 9.2% during the study forecast
period 2021-2031, despite a period of less growth in 2020, according to a
latest study by ESOMAR-certified market research firm, Future Market Insights
(FMI). The research study tracks refurbished printers sales in 20+ countries,
offering an in-depth analysis on how growth trend will unfold.
To
Get Sample Copy of Report Visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-9765
In recent years, there
has been a shift towards the adoption of more environmentally sustainable ways
of working. Large-scale electronic giants have now become more conscious
regarding the environment and their goals to achieve maximum sustainability.
With the growing need to achieve sustainability in daily, routine operations
and focus on reducing the carbon footprint, many electronic giants have now
switched to recycling and refurbishment of electronic products. Such efforts by
players are also aimed at reducing the global e-waste generation.
Besides this, many
industries are undertaking numerous efforts to reduce their carbon footprints.
They are actively switching towards the adoption of sustainable office
solutions like refurbished printers. According to the report, the commercial
sector will account for over 63% of refurbished printers sales in 2021.
The rapidly growing
e-waste concerns have further strengthened the concept of circular economy
which is further expected to facilitate growth in the sales of refurbished
printers. As per the statistics of United Nations, approximately 50 million
tons of electronic waste is thrown each year. Such haunting statistics has
encouraged a switch towards refurbished products in the market
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Key Takeaways from the Refurbished Printers
Market Study
- The refurbished
printers sales are set to rise at a CAGR of 9.2% between 2021 and 2031 - The presence of
several leading players will seal United States’ dominance in North America. It
is expected to account for over 80% sales in the North America market - The U.K. will register
2.2% y-o-y growth in 2021, after a period of subdued sales - Germany and France
will emerge as lucrative market for sales of refurbished printers in Europe - Increasing number of
small scale businesses will enable double-digit growth in China
“Direct-to-Consumer sales
channel is reshaping consumer trend in the market. The market is also
witnessing the emergence of special online retailers who are solely engaged in
selling branded refurbished products. Besides this, to woo consumers, the
players are offering extensive guarantees and warrantees says an FMI
analyst.
Impact of COVID-19 on the Market:
The outbreak of novel
coronavirus has impacted positively as well as negatively. In case of negative
effects the players in the market has faced numerous disruptions in the supply
chains. However, the outbreak of pandemic has encouraged work from home culture
which is why the need for essential office devices while working remotely has
surged in the past few months. In such cases, refurbished products are looked
over as best solutions that help fulfill needs at reasonable prices.
Who is Winning?
Some of the key
players present in the refurbished printers Seiko Epson Corporation, Xerox
Corporation, Brother Industries Ltd., HP Development Company, Print Smart
Office Solutions, Erie Ink Company, Refurbished Land, Metrofuser Company,
Marathon Services, Athema Services Ltd., PTM Printer Solutions, Advanced Print
Scan Solutions and among others.
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about Consumer Product Market Insights:
