What Primary Drivers are Accelerating the Express Delivery Market from $262.86 Billion toward the $480 Billion Milestone?

Allied Market Research published a report, titled, "Express Delivery Market by Application (B2B and B2C), End Use (E-commerce Platform, Document Service and Others) and Destination (Domestics and International): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report, 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.

Prime determinants of growth

Growing e-commerce industry coupled with rise in B2C deliveries and rapid growth in international trade services drive the growth of the global express delivery market. However, lack of infrastructure and higher operational costs hinder the market growth. On the other hand, rise in technological advancements in delivery services and emergence of last-mile deliveries with technological advancements in delivery vehicles present new opportunities in the coming years.

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Covid-19 Scenario

The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global Express Delivery market, owing to implementation of the global lockdown.
On the other hand, the pandemic has accelerated the growth of e-commerce parcels due to an increased number of people shopping from home, which in turn, has boosted the growth of the global Express Delivery market to some extent, thereby providing a mixed impact to the industry altogether.
This trend is likely to be continued in the post-COVID era too.
The B2C segment to maintain its leadership status throughout the forecast period

Based on application, the B2C segment held the highest market share in 2020, accounting for nearly two-third of the global express delivery market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the growing inclination of consumers toward purchasing from e-commerce platforms. Moreover, the B2B segment is projected to manifest the highest CAGR of 7.2% from 2021 to 2030, owing to the factors such as advent of online B2B e-commerce platform, rise in trade of products and goods between different organizations and growing demand for same-day delivery services from business customers.

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The domestics segment to maintain its lead position during the forecast period

Based on destination, the domestics segment accounted for the largest share in 2020, contributing to more than half of the global express delivery market, and is projected to maintain its lead position during the forecast period. This is due to the significant growth of the e-commerce industry coupled with rise in consumer preference for same-day delivery option and increase in domestic postal traffic, letter mails, and parcel service. However, the international segment is expected to portray the largest CAGR of 7.0% from 2021 to 2030, owing to the increase in cross-border express delivery services for documents and parcels and development of cross-border trade channels.

Asia-Pacific, followed by Europe, LAMEA, & North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by Europe, LAMEA, & North America, held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global express delivery market. This is attributed to the rise in e-commerce, high population growth, rising disposable incomes & standards of living, high government support for development of logistics infrastructure and growth in international trade Moreover, LAMEA is expected to witness the fastest CAGR of 8.4% during the forecast period, owing to the such as increasing demand for fast transport services, economic development, rising customer demand for same-day deliveries fueled by e-commerce growth, and rising number of new start-ups.

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Leading Market Players

Aramex
BEST Inc
DB Schenker
Deutsche Post AG (DHL GROUP)
DSV (DSV PANALPINA)
FedEx
Geodis
SF Express
United Parcel Service, Inc. (UPS)
YTO Express Group Co.

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