Refurbished Printers Market: Overview
Refurbished printers are tested printers or second-hand printers with revamped functionality and defects before selling to the new customers. In other words, refurbished printers are the repaired printers with enhanced capabilities and appearance for better utilization.
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The market of refurbished printers is increasing rapidly because customers are returning printers to the manufacturers for various reasons like defects, printers not sold in the secondary market or new product is launched. On the other side, the market is continuously boosting due to the increased production cost of a new printer and non-availability of high technology-based printers. The refurbished printers are customized as per the requirement of customers. This gives a positive impact on the growth of refurbished printer market. The refurbished printer market is highly dynamic. There is a tough competition in refurbished printers market due to rivalry amongst manufacturer or service providers and the threat of new product development. The market is having less barrier for entering new service provider for refurbished printers. Therefore, in spite of the increasing demand for refurbished printers, bargaining power of customers is more.
Refurbished Printers Market: Dynamics
The driving forces for the global market of refurbished printers are cost-effectiveness and getting better quality for the price. However, the refurbished printers are mostly used in order to reduce electronics wastage and maintaining a green environment.
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The refurbished printers are sold to retailers or customers at a low cost compared to the increasing price of new printers. Hence, it is expected that increasing the price of a new printer will further push refurbished printer market growth. The refurbished printers have more preference in corporate offices where the bulk purchase of printers is made. The certified refurbished printers help to gain the trust of the customers. This further leads the market of refurbished printers. The growth of the refurbished printer market is further propelled due to the expansion of electric and electronics industries. This helps to add new substitutes in the printer to enhance its qualities. The advanced technology in printing sector will increase the market of refurbished printers.
In spite of positive outlook, the growth of the refurbished printer market might slow down because of technology up gradation which might not be compatible with existing printers.
Refurbished Printers Market: Segmentation
The refurbished printers are segmented on the basis of product types, technology, application, and end use, which are as follows:
Based on product type, the refurbished printers are segmented as:
- Multi-functional (including scanner, fax, and photocopying)
- Black and white
- HD print
Based on technology, the refurbished printers are segmented as:
- 2-D Image Printing Contact Type Dot Matrix Daisy Wheel Line Drum Chain Band Dye Sublimation Plotter Non-Contact Type Ink Jet Laser Thermal Thermal Wax Direct Thermal
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Based on application, the refurbished printers are segmented as:
- Paper printing
- Plastic pouch printing
- Product printing (Bottle, utensils, etc.)
Based on end use, the refurbished printers are segmented as:
- Manufacturing and Automation
- Retail outlets
- Others (Individual, corporate, Medical, etc.)
Refurbished Printers Market: Regional Outlook
Due to a massive expansion of technologies in countries like China and India helps to propel the growth of the refurbished printer market. It is witnessed that the electronics sector is growing in America and Asia with a growth rate of 5% (approximately). Therefore, high growth of the refurbished printers market is expected. The other regions like Africa, Australia, and New Zeeland have increasing demand for electronics devices which further boost demand of refurbished printers. The refurbished printers market has more opportunities in Japan and Germany due to the huge expansion of automation and automobile sector. The regulation at Columbia “The South Carolina Manufacturer Responsibility and Consumer Convenience Information Technology Equipment Collection and Recovery Act” might give positive impact on the refurbished printer market in Columbia. The development of 3D printing in these regions will add a new dimension in the growth of refurbished printers market.