Growth Drivers
Challenges
Growing Concern for Quality for Used Appliances Sold Online - Consumer safety is further complicated by the internet sale of used appliances. Trading Standards, which are employed by local councils, are responsible for regulating the sale of used electrical goods, but since so many sales are taking place online, particularly through social media, there is a lack of efficient safety enforcement, which leads to the open sale of vintage, risky, or recalled products. Additionally, as used products don't have the most recent safety features, the market's growth would be hampered if the consumers' second-hand small domestic appliances don't function effectively, i.e. if there are any technical problems.
Base Year |
2021 |
Forecast Year |
2022-2031 |
CAGR |
5.98% |
Base Year Market Size (2021) |
USD 3,155.80 Million |
Forecast Year Market Size (2031) |
USD 5,600.69 Million |
Regional Scope |
|
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
5.9% |
Base Year Market Size (2024) |
USD 3.72 billion |
Forecast Year Market Size (2037) |
USD 7.79 billion |
Regional Scope |
|
Author Credits: Parul Atri
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