Expansion of the e-commerce industry, increased product
recall due to stringent government rules for product quality in the
automotive industry, rise of tech-driven reverse logistics
services, and increase in adoption of IoT-enabled connected devices
drive the growth of the global reverse logistics market.
PORTLAND, Ore., May 21, 2024
/PRNewswire/ -- Allied Market Research published a report,
titled, "Reverse Logistics Market by Return Type (Recalls,
Commercial Returns & B2B Returns, Repairable Returns,
End-of-use returns, and End-of-life returns), and End User
(E-commerce, Automotive, Pharmaceutical, Consumer Electronics,
Retail, Luxury Goods, and Reusable Packaging): Global Opportunity
Analysis and Industry Forecast, 2023-2032". According to the
report, the reverse logistics market was valued at
$630.9 billion in 2022, and is
estimated to reach $947.7 billion by
2032, growing at a CAGR of 4.3% from 2023 to 2032.
Prime Determinants of Growth
The global reverse logistics market has experienced significant
growth and transformation driven by a combination of expansion of
the e-commerce industry, increased product recall due to stringent
government rules for product quality in the automotive industry,
rise of tech-driven reverse logistics services, and growth in
adoption of IoT-enabled connected devices. Moreover, the
introduction of blockchain technology and reduction in losses owing
to the adoption of a multi-modal system are likely to shape the
industry's future.
Request Sample of the Report on Reverse Logistics Market
Forecast 2032
https://www.alliedmarketresearch.com/request-sample/5191
Report coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$630.9
billion
|
Market Size in
2032
|
$947.7
billion
|
CAGR
|
4.3 %
|
No. of Pages in
Report
|
280
|
Segments
Covered
|
Return Type, End User,
and Region.
|
Drivers
|
Expansion of the
E-commerce industry
|
Increased product
recall due to stringent government rules for product quality in the
automotive industry
|
Rise of tech-driven
reverse logistics services
|
Growth in adoption of
IoT-enabled connected devices
|
Opportunities
|
Introduction of
blockchain technology
|
Reduction in losses
owing to adoption of a multi-modal system
|
Restraints
|
Lack of control of
manufacturers on reverse logistics service
|
Uncertainty in the
reverse logistics process
|
Procure Complete Report (280 Pages PDF with Insights, Charts,
Tables, and Figures)
https://www.alliedmarketresearch.com/checkout-final/reverse-logistics-market
The end-of-life segment to maintain its leadership status
throughout the forecast period.
By return type, the commercial returns and B2B returns held the
highest market share in 2022, and is estimated to maintain its
leadership status throughout the forecast period, owing to the
expansion of the e-commerce industry, changing customer
expectations, and rise in environmental concerns in the e-commerce
industry. However, the end-of-life returns segment is projected to
have the highest CAGR of 6.3% from 2023 to 2032, owing to growing
environmental concerns among manufacturers and strengthening
government regulation for safe disposable of end of life returns
products as they contain hazardous materials. The demand for
reverse logistics services in end of life products, primarily waste
electrical and electronic equipment, has increased in recent years,
which is further boosting its market demand.
The e-commerce segment to maintain its leadership status
throughout the forecast period
By end user, the e-commerce segment held the highest market
share in 2022 and is estimated to maintain its leadership status
throughout the forecast period. Similarly, the e-commerce segment
is anticipated to portray the fastest CAGR of 5.5% during the
review period owing to a rise in the volume of products ordered
through e-commerce platforms and increased demand for effective
reverse logistics. Product returns add about 7%-11% to the base
price of any product sold through e-commerce, and this figure is
likely to climb up, necessitating the rapid implementation of an
effective reverse logistics solution.
Asia-Pacific to maintain its
dominance by 2032
By region, Asia-Pacific held
the highest market share in terms of revenue in 2022 and is
estimated to maintain its leadership status throughout the forecast
period. Similarly, the Asia-Pacific segment is anticipated to portray
the highest CAGR of 5.1% from 2023 to 2032, owing to the growing
logistics industry due to the expansion of the manufacturing sector
in the region. Moreover, strong government assistance for the
development of regional logistics infrastructure aids in the growth
of reverse logistics market. Furthermore, the expanding E-commerce
business in emerging economies such as India, Indonesia, Vietnam, and others is helping drive the
reverse logistics market's expansion.
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Leading Market Players: -
- C.H. Robinson Worldwide, Inc.
- Reverse Logistics GmbH
- Core Logistic Private Limited
- DB Schenker
- Deutsche Post DHL Group
- FedEx Corporation
- Kintetsu World Express, Inc.
- Safexpress Pvt. Ltd.
- United Parcel Service, Inc.
- Yusen Logistics Co., Ltd.
The report provides a detailed analysis of these key players in
the global reverse logistics market. These players have adopted
different strategies such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain dominant shares in different regions. The
report is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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