The global refurbished printer market is expected to grow at 9.2% CAGR throughout the forecast period. Global demand to reduce carbon footprints has pushed leading electronic companies towards recycling and refurbishing of products, evaluates ESOMAR-certified consulting firm Future Market Insights (FMI) in this study. COVID-19 pandemic surged the demand for essential office devices due to promotion of work from home guidelines. Affordable pricing and extensive warranties provided by market players boosted the refurbished printer market growth.
According to report by United Nations (UN), nearly 50 million tons of electronic waste is dumped each year. To reduce such terrible figures, governments are promoting recycling and encouraging customers towards refurbished products. Initiatives undertaken to reduce e-waste have been creating an attractive scope for the expansion of the market. This trend will continue as more consumers showcase a higher degree of environmental consciousness.
“Growing efforts towards reducing electronic waste and promoting sustainable eco-friendly production practices will amplify refurbished printer market sales,” remarks the FMI analyst.
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Leading players profiled by FMI operating in refurbished printer market include Xerox Corporation, HP Development Company, Erie Ink company, Metrofuser Company, Marathon Services, Athema Services Ltd, Seiko Epson Corporation, Brother Industries, Ltd, Print Smart Office Solutions, Refurbished Land, PTM printer Solutions, Advanced Print Scan Solutions among others. The key market players like Xerox Corporation are employing high transparency regarding its refurbished products and providing detailed information in order to maintain brand name. Other strategies employed by market players are aggressive marketing campaigns and promotional events to consolidate their market position.
More Insights on FMI’s Refurbished printer Market
The latest market study on global refurbished printer market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of type (Multifunctional Refurbished Printers, Colored Refurbished Printers, Black and White Refurbished Printers), application (paper printing, plastic pouch painting, product painting), sales channel (specialty stores, convenience store, direct sales online retailers), end use (household, commercial), price range (Below US$250, US$250-US$500, US$500-US$750, Above US$750), technology (Inkjet, Thermal, Dye Sublimation, Laser, Others) and across major regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).
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