Europe Refurbished and Used Mobile Phones Market 2024–2033

Reports Description

According to Custom Market Insights (CMI), Europe Refurbished and Used Mobile Phones Market size was estimated at USD 5.91 Billion in 2021 and is expected to reach USD 6.74 Billion in 2022 and is expected to hit around USD 13.41 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 9.78% from 2022 to 2030.

Our recently published report, “Europe Refurbished and Used Mobile Phones Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.

To learn more about this report - request a sample report PDF

Europe Refurbished and Used Mobile Phones Market Overview

A refurbished phone is a used phone that a customer sells to a network, manufacturer, or retailer. After that, the phones are checked, fixed, and certified to ensure they fit the criteria. The repaired phones are offered to the consumers for purchase at a discounted price.

Used phones are cell phones that have been used by users and then sold to other customers via re-commerce platforms on the market. Used phones are rarely the consumer's first option when purchasing a phone because they need to examine its operating condition and functions. As a result, the popularity of refurbished phones has grown because they already have all of the inspections, and the user does not have to spend extra time ensuring the quality. In addition, used phones are less expensive than new counterparts on the market, encouraging middle-class users to choose used phones that are in good condition and affordable.

Europe Refurbished and Used Mobile Phones Market: COVID – 19 Impact Analysis

The lack of raw materials like semiconductors in Europe during the pandemic, owing to the closure of international borders, to contain the spread of the COVID-19 virus had negatively impacted the supply chains. It hampered the export and import of essential raw materials and smartphones globally. This created a new opportunity for the vendors operating in the European refurbished and used mobile phones market. The increased demand for second-hand phones during the pandemic is expected to have a long-term impact on the European market, owing to the changes in consumer buying and consumption behaviour.

Therefore, the COVID-19 pandemic had a slightly negative impact on the market's revenues. However, it boosted the demand for refurbished and used phones across the globe and positively impacted the market by creating a tremendous growth opportunity for the vendors operating in Europe's refurbished and used mobile phones market.

Europe Refurbished and Used Mobile Phones Market: Growth Drivers

Increase in smartphone adoption to accelerate the market’s growth

Teenagers and college students stand out in terms of the everyday usage of smartphones in the European region. 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 increasing among teenagers and youngsters; professionals and almost everyone depend on their gadgets to complete their work and responsibility. Hence, the smartphone has created a big part of nearly everyone’s life, driving the demand for smartphones. This provides the opportunity to refurbish and use mobile companies to launch mobiles in different price ranges and target all types of consumers. The availability of smartphones in different price ranges is expected to foster market growth.

The lower price of refurbished phones

Modern shoppers in Europe who are well-educated are gravitating toward high-quality, advanced high-performance mobile phones and gadgets. However, due to the brief upgrade cycle, many buyers prefer to commit more time to their new devices. As a result, a sizable portion of the population is demonstrating a preference for secondhand mobile phones, which have their desired features at an affordable price. It is widely acknowledged that factors driving the global market for refurbished and used mobile phones include increasing economies, growing demand for low-priced commodities, and growing consumer acceptance of smartphones.

In addition, increasing consumer dependency on electronic devices in developing countries of the European region is increasing the demand in the global market for refurbished and used mobile phones. Manufacturers of smartphones in developing nations are investing resources in new work to produce high-quality mobile phones that will quickly satisfy customer mechanical demands. Additionally, such a factor is anticipated to promote the global market for refurbished and used mobile phones. The increasing price of new models of smartphones is forcing consumers to settle for used and refurbished phones, which would offer nearly the same performance and at economic pricing.

Europe Refurbished and Used Mobile Phones Market Segmentation Analysis

The refurbished and used mobile phones market is segmented based on type, price point, and region. First, based on type, it is segmented into refurbished and used phones. Based on the price point, it is low-priced, mid-priced, and premium. Finally, region-wise, it is analyzed across Europe (Germany, France, the UK, Italy, Russia, Spain, and the rest of Europe).

According to refurbished and used mobile phones market analysis, based on type, the refurbished segment gained a significant share in the European market in 2021 and is expected to sustain its market share during the forecast period as the availability of refurbished smartphones is higher compared to used mobile phones and the population is highly interested in getting a hands-on experience of the new devices. In addition, introducing or launching new devices in the region has encouraged consumers to shift to the use of new phones, creating a surplus volume of used phones in the market. Furthermore, growth in the popularity and feasibility of high-performing phones propels sales of refurbished and used mobile phones among the population across the region.

According to refurbished and used mobile phone market trends, based on price point, the mid-priced segment gained a significant share in the European market in 2021 and is expected to sustain its market share during the forecast period. A consistent increase in disposable income and growing interest in high-performing quality phones is increasing the support for the sales of mid-priced refurbished and used mobile phones during the forecast period. In addition, the increasing launch of new models of smartphones is affecting the price of the old models as it becomes more affordable for the population to purchase.

Based on region, the rest of Europe dominated the refurbished and used mobile phones market in 2021 and is expected to remain dominant during the refurbished and used mobile phones market forecast period. The market's supremacy is primarily attributed to customers' extensive product knowledge and the region's growing interest in high-performance smartphones. In addition, Europe is distinguished by a high level of disposable income, a growing interest in technology, and a strong demand for high-quality intelligent gadgets. These factors increase the population's need for refurbished and used mobile phones.

Report Scope

Key Insights:

• Based on type segmentation, the refurbished phones segment is estimated to hold the largest market share during the forecast period.
• Based on price point, the mid-priced segment is the leading revenue-generating category during the forecast period.
• Based on geography/country, Germany was the leading revenue generator in 2021.

Recent Development

• In September 2022, Apple, Inc. introduced all the models of refurbished iPhone 12 to be kept up for sale. Previously Apple was involved in selling iPhone 11 and its predecessor models.
• In November 2021, Meridiam invested US$ 15 million in CertiDeal, a leading French circular economy digital platform that sells high-end smartphones, tablets, and other products that have been reconditioned in-house in France.
• September 2021 - Reboxed Limited secured GBP 1 million in funding during the new seed investment round led by the Ministry Of Sound and angel investors and totalled up to GBP 705K. Funds raised in this round aim to support the launch of the Reboxed Recycling Service, enabling customers and retailers to trade in used devices through the Reboxed TechCheck software.

Regional Landscape

Throughout the projection period, the European region will likely remain one of the most appealing regions, accounting for the bulk of market revenue. Germany, the UK, and France stand out for their high level of disposable money, increased interest in technology, and high demand for high-quality intelligent gadgets. These reasons contribute to a greater need for refurbished and used mobile phones. Furthermore, market development is driven by the rise of e-commerce platforms and more significant investment in the refurbishment sector.

The introduction of 5G services throughout the region is growing smartphone sales, and it is expected that as the market for new smartphones expands further, the need for refurbished and used phones will offer equivalent development potential.

Competitive Landscape

Our report offers quantitative and qualitative insights into the refurbished and used mobile phones market and significant development initiatives adopted by the key players. Further, it provides competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players' recent developments.

Prominent Players:

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

Europe refurbished and used mobile phones market is segmented as follows:

By Type Analysis

• Refurbished Phones
• Used Phones

By Pricing Range Analysis

• 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 Analysis

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

By Application Analysis

• Individual
• Businesses

By Europe Region

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe