Courier, Express, and Parcel (CEP) Market to Reach USD 749 Billion by 2031 Amid E-commerce Boom

According to the report published by Allied Market Research, the global courier, express, and parcel (CEP) market size generated $407.7 billion in 2021, and is estimated to reach $749.0 billion by 2031, witnessing a CAGR of 6.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

The factors propelling the growth of the global courier, express, and parcel (CEP) market are increase in international trade across regions, rise in internet-based services, growing number of smartphone users, continuous enhancement of the e-commerce industry, and growth in demand for the fast delivery of packages. Based on mode of transportation, the roadways segment held the largest share in 2021, accounting for more than two-fifths of the global courier, express, and parcel market.

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The concept of courier, express, and parcel is typically attributed to the service that offers logistic services in specific areas. The offer of the service providers differs in the speed, weight, and volume of the packages and the way of carrying out the shipment of the goods. Moreover, the operators provide variety of value-added services to improvise the delivery experience for the user. The express deliveries are mainly time-bounded through which different high value consignments are delivered in a few days or at a pre agreed date and time.

In addition, the courier, express, and parcel market has witnessed significant growth in recent years, owing to increase in international trade across regions and rise in internet-based services and growing number of smartphones among users. For instance, in 2019, Nepal and China signed the Protocol on Implementing Agreement on Transit and Transport along with 6 other agreements to enable Nepal to access Chinese sea and land ports. China has agreed to let Nepal use Tianjin, Shenzhen, Lianyungang, and Zhanjiang open seaports; and Lanzhou, Lhasa, and Xigatse dry ports for trading with other countries. Furthermore, the companies operating in the courier, express, and parcel market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in February 2020, United Parcel Service, Inc. (UPS) launched express service known as UPS Express Plus in the high business density areas of Moscow and St. Petersburg for all Russian origin cities from Kaliningrad to Vladivostok to offer a wider range of options to meet e-commerce customers.

The report offers a detailed segmentation of the global courier, express, and parcel (CEP) market based on business, destination, end user, mode of transportation, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

Based on business, the B2B segment held the largest share in 2021, accounting for nearly three-fifths of the global courier, express, and parcel (CEP) market share, and would maintain its dominance during the forecast period. However, the B2C segment is estimated to witness the fastest CAGR of 6.9% during the forecast period. The report also analyzes the C2C segment.

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Based on destination, the domestic segment held the largest share in 2021, accounting for more than half of the global courier, express, and parcel (CEP) market, and would rule the roost through 2031. However, the international segment is estimated to witness the fastest CAGR of 7.0% during the forecast period.

Based on end user, the services segment held the largest share in 2021, accounting for nearly one-third of the global courier, express, and parcel (CEP) market, and would lead the trail during the forecast period. However, the wholesale and retail segment is estimated to witness the fastest CAGR of 7.4% during the forecast period. The report also studies the manufacturing, construction and utilities, and primary industries segments.

Based on mode of transportation, the roadways segment held the largest share in 2021, accounting for more than two-fifths of the global courier, express, and parcel (CEP) market, and would maintain its leadership during the forecast period. The airways segment, however, is estimated to witness the fastest CAGR of 10.0% during the forecast period. The report also includes the railways and waterways segments.

Based on region, the market in Asia-Pacific was the largest in 2021, accounting for two-fifths of the global courier, express, and parcel (CEP) market share, and is likely to mintain its leadership status during the forecast period. The same segment is expected to manifest the highest CAGR of 7.7% from 2022 to 2031. The other regions analyzed in the study include Europe, North America, and LAMEA.

Major economies such as India, China, the U.S., and Germany, among others observed an increase in demand for courier, express, and parcel services as the COVID-19 pandemic changed the consumer spending habits. Moreover, increase in investments and adoption of IT-enabled technology within courier, express, and parcel industry influences adoption of this services. For instance, DHL Express forecasts continuous growth in express transport in France of around 8% p/a for the period 2021 to 2025. In addition, in September 2020, DHL Express announced investments of $200 million (€170 million) in its new hub at Paris Charles de Gaulle Airport in October 2021.

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Leading players of the global courier, express, and parcel (CEP) market analyzed in the research include

ARAMEX,
DHL,
FedEx,
One World Express Inc. Ltd.,
Poste Italiane,
PostNL Holding B.V.,
Qantas Airways Limited,
Royal Mail Group Limited,
SF Express,
Singapore Post Limited,
United Parcel Service of America, Inc.,
Yamato Transport Co., Ltd.

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