The North America Reverse Logistics Market would witness market growth of 11.2% CAGR during the forecast period (2022-2028).
Reverse logistics, which refers to supply chain management that transfers items from customers back to producers or sellers, is an important aspect of the circular economy. Recycling, refurbishing, re-marketing of restocked items, and raw material reclamation are all part of it. The sale and management of returned and surplus machines and equipment are also part of the reverse logistics process. Reverse logistics entails a number of procedures, including processing returns, dealing with returns, and sustaining return movement, repair, and recycling. It aids in the efficient flow of goods, the creation of value, the completion of the product life cycle, cost reduction, and risk reduction. In addition, reverse logistics improve customer satisfaction, brand image, sustainability, reducing waste, and faster and better service.
It is a process of moving commodities or items backward from the final destination, i.e. the point of end-user or end-consumer, to the site of origin or manufacture. It refers to any operations that may take place in connection with the re-use of materials or products that have been returned. Reverse logistics includes actions including product redesigning, re-manufacturing, refurbishing, and responsible disposal.
End-of-Life Vehicle (ELV) reverse logistics management is progressively concentrating on practical solutions for extracting extra value from products at the end of the lives. This is owing to the automotive industry is one of the fastest-growing, the amount of ELVs that must be gathered and recycled has continually increased as a result of stricter rules across this region.
The Environmental Protection Agency (EPA) has issued a memorandum that focuses on the agency's reverse distribution laws and reverse logistics strategy. These complicated mechanisms used by the retail industry to control the reverse flow of unsold retail items have raised difficulties regarding when disposal happens and when RCRA requirements apply to these unsold retail items. To resolve such difficulties in transportation and logistics channel, this memorandum has been created.
Many retailers have built websites and sometimes entire sections dedicated to processing online orders as the internet has grown pervasive. Many people are turning to e-commerce for convenience or to expand the product selection. Whatever the reason, retail e-commerce sales have soared, and the internet will surely continue to influence how people purchase, emphasizing the importance of good statistics to track this growing economic activity.
The US market dominated the North America Reverse Logistics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $371.3 Billion by 2028. The Canada market is experiencing a CAGR of 13.8% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 12.8% during (2022 - 2028).
Based on End User, the market is segmented into E-commerce, Retail, Pharmaceutical, Automotive, Consumer Electronics, and Others. Based on Return Type, the market is segmented into Commercial & B2B Type, Repairable, Recalls, End-of-use Returns, and End of life returns. Based on Service, the market is segmented into Transportation, Refund Management Authorization, Replacement Management, Reselling, and Warehousing. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Reverse Logistics Market is Estimated to reach $1796.9 Billion by 2028, at a CAGR of 11.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Deutsche Bahn AG, United Parcel Service, Inc., Core Logistic Private Limited, Kintetsu World Express, Inc., FedEx Corporation, Deutsche Post DHL Group, C.H. Robinson Worldwide, Inc., Yusen Logistics Co., Ltd., Safexpress Pvt. Ltd., and Reverse Logistics GmbH
By End User
By Return Type
By Service
By Country
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