Expanding Reach Till 2030: How the Express Delivery Market is Adapting to E-commerce Growth

Express delivery is the fastest form of shipping that involves the delivery of various goods and products through different mediums such as air, water, and land. The customer pays an extra shipping cost for this type of delivery, as the shipment will get transported to the receiver anywhere between 24 to 72 hours depending on the distance of the shipment. In express shipping, the price and rates are also higher than other forms of transportation.

Express delivery services significantly operate on the business-to-business (B2B) and business-to-customer (B2C) models. These include personal and business items such as letters, documents, merchandise, consumer goods, and other non-palletized goods. Express delivery services are coupled with a variety of value-added services, such as packaging, labeling, billing, payment collection, and return, to improvise the delivery experience for the user.

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According to a recent report published by Allied Market Research, the global express delivery market was valued at $262.86 billion in 2020, and is projected to reach $484.38 billion by 2030, registering a CAGR of 6.4% from 2021 to 2030.

Asia-Pacific is the highest revenue contributor, followed by Europe, North America, and LAMEA. On the basis of forecast analysis, LAMEA is expected to lead the express delivery market growth during the forecast period, owing to the booming e-commerce industry in emerging economies, infrastructural development, and increased adoption of various express delivery services in the region.

The factors such as growth of the e-commerce industry, rise in B2C deliveries and international trade services boost the market growth. However, higher operational costs of express delivery services and lack of logistics infrastructure are anticipated to hinder the market growth. Furthermore, ongoing technological advancements in delivery services and emergence of last-mile deliveries are some of the factors offering the lucrative growth opportunities for the express delivery market.

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The global express delivery market is being driven by the surge in international trade, which requires efficient and fast shipment services. Technological advancements and the expansion of e-commerce are also playing significant roles in shaping market trends. Major players like DHL, FedEx, and UPS are investing heavily in technology to improve service quality, such as offering flexible delivery options and real-time tracking.

The healthcare and pharmaceuticals sectors rely on express delivery for time-sensitive shipments, while the manufacturing and retail industries benefit from efficient supply chain management solutions. In addition, the integration of express delivery with e-commerce platforms has enhanced order fulfillment and customer experience.

Based on application, the B2C segment held the highest share in 2020, contributing to nearly two-thirds of the total share, and is projected to maintain its lead in terms of revenue during the forecast period. However, the B2B segment is expected to manifest the largest CAGR of 7.2% from 2021 to 2030.

Based end-use, the e-commerce platform segment accounted for the highest share in 2020, contributing to around three-fifths of the global express delivery market, and is estimated to continue its leadership status throughout the forecast period. However, the document service segment is projected to witness the highest CAGR of 6.7% from 2021 to 2030.

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COVID-19 Impact Analysis:

As a consequence of the coronavirus outbreak, important supply chains in the logistics and transportation industry are hampered, though differently across air, freight, and sea sectors. Thus, express delivery firms, which are involved in the movement, storage, and flow of goods, have been directly affected by the COVID-19 pandemic. Although, the e-commerce, healthcare & FMCG supplies, and daily essentials goods industry is expected to affect the express delivery services industry positively during the COVID-19 outbreak. This is due to significant growth in online retail and B2C e-commerce deliveries. For instance, according to the report from the U.S. Census Bureau 2020, the U.S. retail e-commerce industry reached $211.5 billion, up 31.8% from the first quarter of 2020 and 44.5% year-over-year.

Key Findings Of The Study

1. On the basis of application, the B2B segment is anticipated to exhibit remarkable growth during the forecast period.

2. On the basis of end-use, the e-commerce platform segment is the highest contributor to the express delivery market in terms of revenue.

3. On the basis of destination, the international segment is anticipated to exhibit remarkable growth during the forecast period.

Aramex, BEST Inc, DB Schenker, Deutsche Post Ag (DHL GROUP), DSV (DSV Panalpina), FedEx, Geodis, SF Express, United Parcel Service, Inc. (UPS) and YTO Express Group Co. are some of the leading key players operating in the express delivery market.

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