With growing income of lower and middle class people along with their increasing preference towards the second hand appliances is estimated to benefit the expansion of the global second hand appliances market in upcoming years. This can be attributed to the cost benefits that allow the customers to get great deals at low cost and save their money while buying the second hand appliances.
The global second hand appliances market accounted for USD 6,600.1 Million in 2017 and on the back of rising need of appliances and growing number of offline and online second hand product shops is predicted to drive the second hand appliance market with significant revenue of USD 10,687.6 Million by the end of 2025 expanding at a CAGR of 6.3% between the years 2018 and 2025.
In terms of regional segmentation, the global second hand appliances market is segmented into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, Asia Pacific held the highest market share in 2017 and is predicted to expand with its dominant growth by capturing more than 35% of the total market share by the end of 2025, whereas Europe and North America are predicted to witness significant growth rate by holding a collective share of around 50% in the entire second hand appliances market by the end of the forecast period.
The global second hand appliances market is segmented by distribution channel into online stores and offline stores, out of which, the offline store segment held the dominant share of more than 80% during 2017 and is predicted to behold its positive stance over the forecast period. Additionally, the offline stores segment is expected to achieve Y-o-Y growth rate of 6.8% in 2025. Further, the second hand appliances retailers are inclining towards the online distribution channels to sell their products through online platforms. This is estimated to supplement the expansion of the online store segment with the highest CAGR of 9.5% throughout the forecast period.
The Report titled “Global Second Hand Appliances Market: Industry Demand Analysis & Opportunity Assessment 2017–2025” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Conclusively, the report titled “Global Second Hand Appliances Market 2025”, analyses the overall second hand appliances industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global second hand appliances market in the near future.