Portland, May 06, 2019 (GLOBE NEWSWIRE) -- According to the report, the global reverse logistics market was pegged at $415.20 billion in 2017 and is projected to reach $603.90 billion by 2025, registering a CAGR of 4.6% from 2018 to 2025.
Strict government rules in the automotive industry regarding increasing product recall, expansion of the e-commerce industry, and rise in need for reverse logistics in the pharmaceutical industry have boosted the growth of the global reverse logistics market. However, surge in quality control and uncertainty in reverse logistics process hamper the market growth. On the contrary, the introduction of blockchain technology and increasing need for reverse logistics owing to rise in e-waste are expected to create lucrative opportunities in the coming years.
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The global reverse logistics market is divided on the basis of return type, end user, and geography. Based on return type, the market is segmented into recalls, commercial returns, repairable returns, end-of-use returns, and end-of-life returns. The commercial returns segment held the largest share in 2017, contributing about one-third of the total market and is estimated to maintain its dominance through 2025. However, the end-of-life returns segment is expected to grow at the fastest CAGR of 7.0% through 2025.
On the basis of end user, the market is bifurcated into e-commerce, automotive, pharmaceutical, consumer electronics, and others. The e-commerce segment is expected to manifest the fastest growth, registering CAGR of 6.3% during the forecast period, owing to increased penetration of high-speed internet and booming trend of online shopping.
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Based on regions, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). The market across LAMEA is estimated to portray the fastest CAGR of 6% through 2025. However, the market across Asia-Pacific held the largest share in 2017, contributing about one-third of the total revenue, owing to the majority of the logistics companies have offered specialized reverse logistics services in the region.
The global reverse logistics market report includes analysis of the major market players including DB Schenker, C.H. Robinson, Deliveryontime Logistics Pvt. Ltd., Delcart, Kintetsu World Express, FedEx Corporation, The Deutsche Post AG, Reverse Logistics Company, Yusen Logistics Co., Ltd., and United Parcel Service.
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