Global Reverse Logistics Market of Spare Parts for Manufacturing Industry 2018-2022
About Reverse Logistics of Spare Parts for Manufacturing Industry
Transportation of faulty spare parts from the customers to the original equipment manufacturer (OEM) and to the manufacturing industries is the reverse logistics operations of spare parts. Various operations performed in the reverse logistics operations are the collection of faulty spare parts, transportation, warehousing, and the return of parts back to the manufacturers.
Technavio’s analysts forecast the global reverse logistics market of spare parts for manufacturing industry’s CAGR is expected to be more than 5%, however, the market's growth momentum will decelerate owing to a decrease in the year over year growth.
Covered in this report
The report covers the present scenario and the growth prospects of the global reverse logistics market of spare parts for manufacturing industry for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Reverse Logistics Market of Spare Parts for Manufacturing Industry 2018-2022
Technavio recognizes the following companies as the key players in the global reverse logistics market of spare parts for manufacturing industry: C.H. Robinson, DB Schenker, Deutsche Post DHL Group, FedEx, and UPS.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of blockchain technology in logistics industry. Blockchain logistics technology provides various advantages such as increased security, reduced instances of fraud, data flow automation that improves the efficiency and speed of data flow, increased traceability and trackability, and reduced paperwork.”
According to the report, one driver in the market is growth in manufacturing industry globally. Emerging countries such as Brazil, China, India, Mexico, and South Africa, are witnessing growing industrialization and rising manufacturing activities. Owing to the increasing consumer demand for products from various industries such as the automotive, medical devices, electronic goods, construction equipment, and packaging machinery, the manufacturing industry is gaining prominence globally.
Further, the report states that one challenge in the market is growing demand for warehouses, increasing the operational cost of LSPs. The global demand for warehousing is increasing due to the growth of the global e-commerce industry. For instance, in 2017, the vacancy rate of the industrial space in the US reduced to 4.5% -5.2%.