Reverse Logistics Market: Current Analysis and Forecast (2022-2028)

Global Reverse logistics Market is expected to grow at a significant rate of around 5% during the forecast period. Reverse logistics is an important part of supply chains in many industries, like the automotive, electronics, and pharmaceuticals industries. Reverse logistics systems have been developed and implemented worldwide to assess the value of returned or damaged goods. Reverse logistics includes return management, recycling, and environmental compliance. Moreover, the number of returns and requests for replacement items has increased as a result of the proliferation of e-commerce businesses worldwide. In order to strengthen the market, significant market players are working to implement cutting-edge technology.

SCHENKER AG, Deutsche Post AG, FedEx, Kintetsu World Express Inc, United Parcel Service Inc, Delhivery Limited, Yusen Logistics Co Ltd, RLG Systems AG, Core Logistic Private Limited and Safexpress Pvt Ltd are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst Return type, return category to witness robust CAGR during the forecast period"

Based on return type, the market is segmented into recalls, repairable returns, commercial and B2B returns, end-of-use returns, and end-of-life returns. The repairable return is anticipated to grow with high CAGR during the forecast period. The surge in domestic and international interconnectivity has allowed for the global expansion of business. Apart from this, the government has also undertaken several initiatives to repair or replace defective automobiles. As a result of customer-friendly government policies manufacturers are liable for defective products, and consumers are entitled to a replacement, thereby driving the reverse logistics market.

"Amongst Services, the transportation to hold a significant share in the market in 2020"

Based on services, the market is categorized into transportation, warehousing, reselling, replacement management, and refund management authorization. Among these, the transportation to hold a significant share in the market in 2020. This is mainly due to the things like the growth of the e-commerce industry, which has increased the demand for consumer goods that need to be shipped to their customers. Moreover, in reverse logistics, a transportation facility is crucial because it ensures the safe delivery of goods at a particular time.

"Amongst end-user, the e-commerce to hold a significant share in the market in 2020"

Based on end-user, the reverse logistics market has been classified into e-commerce, automotive, pharmaceutical, consumer electronics, and others. The e-commerce is to witness higher adoption during the forecast period. This is mainly due to the rising demand from consumers for high-quality consumer electronics, auto parts, and pharmaceutical product deliveries over rapidly expanding online platforms like e-commerce, quality assurance.

"APAC to hold a significant share in the market"

For a better understanding of the market adoption of the Reverse logistics industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. Some of the main factors that are driving the growth of the market are things like the increased use of e-commerce services in countries like India and China and the increased number of product recalls in the automotive industry due to strict government rules about the quality of the product. During the forecast period, steady growth is anticipated in North America. The use of blockchain has made it easier to track the product's lifecycle and made it more transparent. As a result, the market's expansion is anticipated to be fueled by the end-user of cutting-edge technologies like blockchains.

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The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

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