Emergence of autonomous logistics is expected to provide opportunities for the courier, express and parcel services market growth
The global courier, express and parcel services market size is projected to reach nearly USD 550.06 billion by 2028. In addition, it is projected to gather a CAGR of above 6.2% over the forecast years 2021-2028. The global courier, express and parcel services is used to deliver general consumers or business to business consumers their products via air, rail, sea or road transport. One of the key factors contributing to the growth of this market is the rise of E-commerce giants in the B2C segment of this market. These services players include FedEx, DHL, UPS and others. They distribute products majorly from the E-commerce giants such as amazon, Alibaba and others. The service include delivery by air, water, land (rail and road). The same-day delivery option is projected to gain market attraction, adding high valued service and less time consumed in delivery for the consumer.
The future and existing courier, express and parcel services market progress are outlined to know the market attractiveness. Key influencing factors focus on the courier, express and parcel services of market opportunities over the forecast years. Factors such as diversification and expansion of the logistics business by big industry players are driving the market growth. Also, the global rising disposable income is boosting the global courier, express and parcel services market growth. However, the fluctuating fuel prices is likely to hamper the market growth. Furthermore, the emergence of autonomous logistics is anticipated to be an opportunity for the courier, express and parcel services market.
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The courier, express and parcel services market has solid competition amongst the already well-known and new market players. Also, the courier, express and parcel services industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Based on the Type segment, the market is bifurcated into Air Transport, Road Transport, Rail Transport and Sea Transport. In the year 2020, the Road Transport segment gathered the major growth and it is likely to maintain its position during the forecast years. According to (International Transport Forum) the world trade volume grew by 3.6% in 2016. According to International Transport Forum 2,73,458 goods vehicles were used in Australia for transportation, which is the highest number as of 2020. Additionally, in the 21st century the number of fatalities in road accidents is also decreased scale. The new trade trends between Asia, South America, and Africa will re-chart the global supply chains, and the use of road transport for e-commerce local deliveries is also set to be on a high note. These factors are expected to drive the market growth for road transport in the cargo industry.
The North American region is projected to accumulate the highest growth during the forecast years. The market growth in this region is mainly ascribed to the growing need for improved productivity and increased demand in this region. In addition to this, the North American region held the highest market share in 2020 and it is projected to remain dominant during the forecast years 2021-2028.
The major players of the global courier, express and parcel services market are UPS, FedEx Corporation, DHL International GmbH, China Post Group Cooperation, Japan Post Holdings Co. Ltd., Royal Mail, SF Express Co. Ltd., Poste Italiane, YTO Express (International Holdings Limited), ZTO Express, STO Express, Yunda Express, Aramex. The courier, express and parcel services market comprises well established local as well as global players.
Key Segments of the Global Courier, Express and Parcel Services Market
Type Overview, 2018-2028 (USD Billion)
- Air Transport
- Road Transport
- Rail Transport
- Sea Transport
Application Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa