Pre-Owned Appliance Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

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The global pre-owned appliance market is expected to thrive at a CAGR of 6.5% over the forecast period of 2022-2030.

 

Pre-owned appliances are appliances that have been used before and are brought back to the marketplace for selling. These appliances are comparatively lower priced than the newer version of the same appliances, sometimes 50.0% cheaper or even more. Also, these products involve no sales tax. This enables people to get productive and profitable deals at lower costs and save their money in the entire process.

 

COVID-19 IMPACT

The pre-owned appliance market has been positively impacted by the COVID-19 pandemic. With the narrowing income levels of people across the globe, the inclination towards cheaper and cost-effective pew-owned products has surged. Additionally, increasing number of people across the developing economies around the world were seen to be making use of the marketplaces for selling the appliances that were not used by them anymore for making some additional income. This resulted in the influx of both buyers and sellers into the pre-owned appliance market and therefore aided in the expansion of the overall market size.

 

GROWTH DRIVERS

The surging need of appliances among people and at households, the extensive demand for pre-owned appliances due to the growing income levels of the lower and middle class people, the surging presence of online and offline pre-owned goods stores and the increasing focus of people on the reusability of goods are the primary factors driving the growth of the global pre-owned appliance market.

 

Additionally, the awareness regarding the potential of pre-owned appliance market is rising rapidly, especially across the developed nations around the world. People are therefore, trying to make the most of it by selling their used items at reasonable prices. This is aiding in maximizing their ROI and in turn, also adding to the growth of the global pre-owned appliance market.

 

Moreover, there exist a huge number of stores that deal in pre-owned items including appliances. Lately, these vendors have been focusing on opening new stores through different channels including online stores and are also emphasizing on offering a wider range of pre-owned products and services including technical support in order to capture majority of the consumers, gain their trust and also expand their geographical reach.  This is resulting in the overall growth of the pre-owned appliance market is expected to create ample growth opportunities for the market during the forecast period.

 

Furthermore, the increasing number of online stores and ecommerce platforms dealing in pre-owned appliances and the growing demand for second hand appliances amongst youth in the developing countries are expected to further augment the growth of the market during the forecast period.

 

PRE-OWNED APPLIANCE MARKET SEGMENTATION

By Product Type

·         Freestanding Microwaves

·         Built-in Microwaves

·         Built-in Fridge Freezers

·         Freestanding Freezers

·         Built-in Freezers

·         Freestanding Fridges

·         Built-in Fridges

·         Built-in Hobs

·         Freestanding Dishwashers

·         Built-in Dishwashers

·         Freestanding Fridge Freezers

·         Cooker Hoods

·         Freestanding Automatic Washing Machines

·         Built-in Automatic Washing Machines

·         Cookers

·         Ovens

·         Others

 

By Distribution Channel

·         Offline Stores

·         Online Stores

 

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Based on product type, the freestanding freezers segment accounted for the largest market share of 15.0% in the global pre-owned appliance market in 2021. The segment is anticipated to further retain its dominance in the market and expand at a growth rate of 6.0% over the forecast period. The freestanding automatic washing machines segment held the second largest market share of 12.0% in the global pre-owned appliance market in 2021 and is expected to further expand at a significant growth rate throughout the forecast period. However, the built-in microwaves segment is projected to witness growth at the highest CAGR in the global market during the forecast period.

 

Based on distribution channel, the offline stores segment led the global pre-owned appliance market by acquiring a market share of 81.0% in the market in 2021. The segment is predicted to further retain its hold in the market over the forecast period. The online stores segment is however, expected to grow at the highest CAGR of 9.2% in the market during the forecast period. The growth of this segment can be attributed to the increasing inclination of the market vendors towards the online distribution channel to sell their products globally to a wider set of consumers.

 

REGIONAL OUTLOOK

The Asia Pacific region accounted for the largest market share of 37.0% in the global pre-owned appliance market in 2021. The region is anticipated to experience tremendous growth at a CAGR of 7.5% in the market and further retain its top position in the market during the forecast period i.e. 2022-2030. India and China are the major contributors to the growth of the market in the region.

 

The European region held the second largest share in the global pre-owned appliance market in 2021. The region is projected to further expand at a whooping CAGR of 6.8% over the forecast period and maintain the trend over the forecast period of 2022-2030.

 

The North American region also accounted for a prominent market share in the global pre-owned appliance market in 2021 and is expected to register growth at a robust growth rate over the forecast period. The growth of the market in the region can be attributed to the burgeoning penetration of freestanding dishwashers in the region. The U.S. is the major contributor to the growth of the market in the region.

 

KEY COMPANIES IN PRE-OWNED APPLIANCE MARKET

·         Mercari Inc.

·         Quikr

·         Ebay

·         Budget Pre-owned Appliance LLC

·         Caesar Appliance Service

·         Wallapop

·         Jadopado Ltd.

·         Adevinta

·         Kaskus

·         Xiangwushuo

·         Melltoo

·         Cartlow

·         Other Players

Buy Report

  • $1990
  • $3150