The Global Second Hand Appliances Market to Expand with CAGR of 6.3% between 2018 and 2025 – Research Nester

“Global Second Hand Appliances Market: Industry Demand Analysis & Opportunity Assessment 2017–2025”

The low cost factor associated with the previously owned products among the customers is driving the demand for the second hand appliances around the globe. The customers’ preference towards getting cost benefits such as no sales tax, low cost of almost around 50% or even more cheaper as compared to the new appliances allows the customers to get great deals at low cost and save their money in the whole process of buying the second hand appliances. Further, the rise in the demand for appliances among lower and middle class people combined with growing number of the offline and online shops for second hand products is anticipated to benefit the expansion of the global second hand appliances market by reaching USD 10,687.6 Million by the end of 2025 from USD 6,600.1 Million in 2017, by expanding at a CAGR of 6.3% over the forecast period 2018-2025.

The Global Second Hand Appliances market is segmented by appliances into Freestanding Dishwashers, Built-in Dishwashers, Freestanding Fridge Freezers, Built-in Fridge Freezers, Freestanding Freezers, Built-in Freezers, Freestanding Fridges, Built-in Fridges, Built-in Hobs, Cooker Hoods, Freestanding Automatic Washing Machines, Built-in Automatic Washing Machines, Freestanding Microwaves, Built-in Microwaves, Cookers, Ovens and Others. The freestanding fridge freezers held the highest share of 13.53% while the freestanding automatic washing machines segment held the second highest market share of 10.52% respectively in the overall second hand appliances market. Further, the segment of freestanding fridge freezers is expected to achieve Y-o-Y growth rate of 7.3% in 2025.

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Growing Popularity of Online Stores to Escalate the Demand for Second Hand Appliances in Future

The global second hand appliances market is thriving on the back of growing penetration of ec0mmerce business around the globe.

Rise in Consumers’ Preference – The second hand appliances market have got bigger over the years as consumers are purchasing and selling more second-hand items owing to their cost related benefits.

Second-Hand Product Shops – Presence of large number of online and offline second hand goods retailers are driving the worldwide growth of the market.

Environmental Benefits – Less pollution, no need of new resources or packaging are some of the major environmental benefits of purchasing second hand appliances.

Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Second Hand Appliances Market

According to Research Nester, the uncertainty with the working and lifespan of second hand appliances is expected to limit the growth of the global second hand appliances market. Further, rapid technological advancements with new appliances can negatively affect the adoption rate of the used appliances that are equipped with old technologies across the globe.

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The report titled “Global Second Hand Appliances Market: Industry Demand Analysis & Opportunity Assessment 2017–2025” delivers detailed overview of the global second hand appliances market in terms of market segmentation by appliances, distribution channel and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global second hand appliances market that will help industry consultants, equipment retailers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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