Global Refurbished and Used Mobile Phones Market 2024 – 2033

Reports Description

According to Custom Market Insights (CMI), The Global Refurbished and Used Mobile Phones Market size was estimated at USD 52.34 billion in 2021 and is expected to reach USD 64.10 billion in 2022. is expected to hit around USD 146.43 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 11.45% from 2022 to 2030.  

A refurbished phone often describes a previously owned device that has been returned due to a problem and has been fixed for resale. Customers wishing to save money on their smartphone purchases might consider refurbished handsets an affordable option. Nowadays, refurbished cell phones are fairly popular as more reliable resellers enter the smartphone industry. With a few dings and scratches on the outside, these smartphones are in excellent working condition and come with a reseller warranty.

Due to the growing popularity of consumer electronics, refurbished phones, and used phones through different online/offline sales channels, consumption of used and refurbished mobile phones is predicted to increase significantly over the upcoming years. The global market for refurbished and used mobile phones is expanding due to the explosive development of digital content.

The smartphone has permeated every aspect of people’s lives, from aiding communication to facilitating e-commerce to accelerating the rise of digitalization. Modern customers that are digitally aware are gravitating toward expensive and cutting-edge technology. The market for refurbished and used mobile phones is expanding quickly due to several causes, including the increased popularity of smartphones, rising disposable income, and greater environmental consciousness. Additionally, the presence of numerous secondhand sellers fosters this industry’s expansion.

Growth Factors

Due to the explosive rise of digital content, the global market for refurbished and used mobile phones is expanding. From enabling communication to facilitating e-commerce to accelerating the rise of digitalization, smartphones have become an essential aspect of people’s lives. Consumers adept with technology are moving toward expensive and cutting-edge machinery nowadays. Because the upgrade cycle is so short, many customers are not interested in using their new devices for extended periods. Because they have their desired qualities and are available at a reasonable price, a substantial portion of the community is expressing interest in old mobile phones.

The global market for refurbished and used mobile phones is influenced by developing emerging countries, rising consumer demand for low-cost goods, and rising smartphone penetration. In addition, growing consumer dependence on electronic devices in emerging nations is anticipated to drive demand in the global market for refurbished and used mobile phones.

In terms of everyday smartphone use, teenagers and college students stand out. On their cellphones, they set alarms to wake them up in the morning, look through Instagram and respond to Snapchat messages, listen to music even in the shower, watch Netflix when they have free time, play games, place food orders, and buy. One gadget has almost all the features of a camera, TV, MP3, phone, radio, computer, and instant messaging, yet it is incredibly portable and always connected to the Internet.

The dependency on smartphones is not limited to teenagers and youngsters; professionals and almost everyone depend on their gadgets to complete their work and responsibilities. Hence, the smartphone has created a big part in almost everyone’s life, driving the demand for smartphones, which helps drive the refurbished smartphone market.

 To keep up with consumers’ increasing technical expectations, smartphone makers in emerging economies continually engage in R&D to produce high-end mobile phones. The worldwide market for refurbished and used mobile phones is also anticipated to grow due to this issue. Moreover, the market for refurbished and used mobile phones is anticipated to be driven by fast urbanization, the expansion of mid-price brand sales, and the increased desire for high-end features at competitive rates. Along with this, it is also thought that the swift adoption of government efforts and regulations regarding green initiatives and e-waste management is fueling demand in the worldwide market for refurbished and used mobile phones.

Consumers and organizations alike want to save money when purchasing cell phones. In this situation, both individuals and organizations may save money by using refurbished and used mobile devices. Manufacturers are supporting clients in locating cheap and cost-effective secondhand cell phones. Due to these considerations, the industrial 5G market is anticipated to expand rapidly, which will fuel demand for refurbished and used mobile phones and mobile phone accessories in the future.

In the Asia Pacific and the Middle East areas, there is also a surge in businesses offering EMI alternatives for phones and mobile phone accessories, such as BNPL (Buy Now Pay Later). It is quickly becoming one of the most popular ways to pay for reconditioned equipment online in these areas. BNPL start-ups are collaborating with digital wallet service providers to increase their market share.

Refurbished and Used Mobile Phones Market Segmentation

Refurbished and Used Mobile Phones Market, a segment based on Type

Refurbished phones are predicted to see the highest CAGR growth and hold a leading position in the market. Such phones are also being sold at a discount by resellers. As a result, consumers are quickly switching to buying reconditioned phones in place of the newest versions.

As used and Refurbished, People of all financial levels utilize used Mobile Phones. In industrialized regions like Europe, the demand for refurbished mobile phones is fueled by offers to trade in used phones and a concentrated strategy on circular economy efforts. Developing nations like India and Africa, for example, are exhibiting a bigger proportion of new firms and home technology advancements and repair capacities.

Refurbished and Used Mobile Phones Market, segment based on Pricing Range

According to price, the mid-priced sector is in the lead and is anticipated to contribute most to the market for Refurbished and Used Mobile Phones. The category is growing due to the wide availability of mid-priced cell phones on online shopping sites with various payment methods. The middle-class population’s growing need for high-end, reasonably priced mobile phones is driving the industry. Furthermore, because of their financial situation, people in the middle class may purchase the least expensive and middle-priced phones. It is acceptable because the corporation provides more goods in this price range with more readily available technology. This element is dominating the mid-priced category.

Report Scope

Regional Insights

During the projected period, Asia-Pacific is expected to maintain its prominent position in the Refurbished and Used Mobile Phones market. Developing and developed nations like China and India are the big markets for the Refurbished and Used Mobile Phones market.

The main markets in the Asia Pacific for Refurbished and Used Mobile Phones are China, India, and Indonesia. The market in this area will grow more quickly than in Europe, the Middle East, and North America. Over the projection period, the growth of the refurbished smartphone market in Asia-Pacific will be aided by the expansion of the telecom infrastructure, rising smartphone prices, and the absence of disruptive features in Android smartphones.

Refurbished smartphone sales are rising in India because of a new generation of tech-enabled firms like Cashify, HyperXchange, and Flipkart-owned Yaantra, among others. Refurbished mobile devices offer affordable choices for buyers and sellers, and they are growing in popularity due to the money they save both parties. Local merchants, like Shopzen India, provide high-quality refurbished mobile phones at wholesale prices. With all brands available on one platform, customers can shop for their ideal smartphones and mobile phone accessories while minimizing costs. The market demand in this area is driven by the rising popularity of e-commerce platforms for used and refurbished cell phones.

During the forecast period, the North America region expects a significant growth rate. One of the main factors behind the growth of North America’s used and refurbished smartphone industry is the increasing advances in smartphone features and the expanding range of 5G devices. One of the most developed marketplaces in the world for smartphone makers is the U.S., With companies like Apple.

The area has a history of creating cutting-edge devices that have altered the dynamics of the global smartphone industry. In the area, low-end and mid-range smartphones are becoming more popular since many smartphone makers believe they would perform better in the COVID-19 pandemic-affected market environment. Despite the availability of various brands and product lines, the premium Samsung flagship devices and iPhones dominated the market. Shifting trends may drive the demand for reconditioned and used smartphones in the area. Because of the updating and upgrading of devices by businesses and individuals due to changes in the workplace and workforce, North American trade-in service providers have seen a boom in their product business over the past several years.

  Key Players

• Apple Inc.
• Amazon
• Samsung
• Verizon Communications, Inc.
• Cashify
• Walmart
• eBay
• Paytm
• Huawei
• Yaantra
• AT&T Inc. 

Recent Development

Xiaomi increased the domestic production of smartphones and smart TVs in India. BYD and DBG Technology from China were mentioned as two of its new partners for manufacturing smartphones. Along with increasing domestic smartphone production, Xiaomi named Hyderabad-based Radiant Technology as its second manufacturing partner after Dixon for domestic production of smart TVs.

Segments covered in the report

By Type 

• Refurbished Phones
• Used Phones

By Price Point 

• Low-priced Refurbished and Used Mobile Phones (Less than $200)
• Mid-Priced Refurbished and Used Mobile Phones ($200-$500)
• Premium Refurbished and Used Mobile Phones (More than $500)

By Sales Channel 

• Online/ e-Commerce Sales of Refurbished and Used Mobile Phones
• Refurbished and Used Mobile Phones Sold at Physical Retail Stores

By Application 

• Individual
• Businesses

Based on Geography

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (Germany, France, UK, Italy, Spain, Russia, Netherlands, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, New Zealand, Australia, Taiwan, Rest of Asia Pacific)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)

Check: Latin America Refurbished and Used Mobile Phones Market 2022–2030

Check: Middle East and Africa Refurbished and Used Mobile Phones Market 2022–2030

Check: North America Refurbished and Used Mobile Phones Market 2022–2030 

Check: U.S. Refurbished and Used Mobile Phones Market 2022–2030