The global reverse logistics market is expected to reach US$ 2.9 Trillion by the year 2032 at a whopping CAGR of 12% between 2022 and 2032.
The present-day scenario is such that reliable reverse solutions are being looked upon as more essential due to e-Commerce firms rapidly expanding all across. Various sectors inclusive of electronics, automotive, pharmaceuticals, and likewise have started depending on reverse logistics as one of the indispensable components of market network and supply chains.
Resale, storage, return monitoring, recycling planning, pollution compliance requirements, spare part management – all constitute reverse logistics operations. The manufacturers are turning out to be all the more conscious regarding minimization of environmental hazards.
One of the verticals at the forefront of reverse logistics market is proliferation of automation technology. Governments all across are also contributing toward constructing robust transportation infrastructure for favoring the reverse logistics vertical. On these grounds, the government of Brazil, in May 2021, did announce plans for investment worth US$ 50 Billion in highways, ports, and railroads.
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Opportunities for the reverse logistics providers include B2C & B2B warehousing, end-to-end supply chain management, rapid package delivery, and technical support services. Along these lines, a logistics company called ‘Delhivery’, in May 2021, disclosed that it had obtained funding close to US$ 275 Million to make an entry into the reverse logistics market.
At the same time, the fact that there is a dearth of direct control over reverse logistics on the part of manufacturers can’t be ignored. This could be credited to they being unable to cope up with incidences in warehouse. If a third-party is employed herein, confidentiality breach is one of the key hindrances. On the whole, the reverse logistics market could get restrained over here.
Additionally, it has been observed that online returns are an outcome of digital challenges like poor display of image along with improper fitting. This is another factor adding to the downtime of the market.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Reverse Logistics Market’. It has its indigenous team of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.
“Demand for effectively managing products’ return to manufacturers or companies from customers and back is expected to drive the reverse logistics market”, says an analyst from Future Market Insights.
Key Takeaways from Reverse Logistics Market
- The Asia-Pacific holds more than 50% of the market share and the scenario is expected to remain unchanged in the forecast period. This could be attributed to expansion of manufacturing vertical in the developing economies herein. As such, electric vehicles ask for reverse logistics at a larger scale.
- The MEA is expected to grow at the second highest rate in the reverse logistics market in the forecast period. This could be reasoned with growing investments in the e-Commerce vertical.
- North America and Europe are at the matured stage of reverse logistics market and the status quo is expected to remain unchanged in the near future.
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Competitively Reverse Logistics
- Attero, in May 2021, partnered with MG Motor India to make reverse logistics, recycling, and refurbishing solutions as a part of partnership.
- XPO Logistics, Inc., in May 2021, did announce launching an automation solution in France. It is expected to aid fashion e-Commerce industry of France with the high-volume reverse logistics.
- Ruby, in June 2021, did launch industry alliance DTC Consortium through support extended by multiple companies. This consortium is bound to aid organizations improvise on market strategies inclusive of reverse logistics, vertical-specific things, fulfilment, and likewise.
- March 2022 saw a contract been signed between DHL Supply Chain (subsidiary of Deutsche Post DHL Group) and ReverseLogix to expand the reach in the untouched areas.
Key Players in the Reverse Logistics Market
- DB SCHENKER (Deutsche Bahn AG)
- Deutsche Post AG
- FedEx Corporation
- Kintetsu World Express, Inc.
- United Parcel Service, Inc.
- Yusen Logistics Co., Ltd.
- RLG Systems AG
What does the Report say?
- The research study is based on end-use industry (e-Commerce, retail, automotive, consumer electronics, and pharmaceutical).
- With demand for better options for storing and transporting commodities, the global reverse logistics market is bound to grow on an exalted note in the forecast period.
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Key Segments
By End-use Industry:
- E-commerce
- Retail
- Automotive
- Consumer Electronics
- Pharmaceutical
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
About Us
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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