The new courier, express, and parcel market research from Technavio indicates Negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Courier, Express, and Parcel Market 2020-2024 (Graphic: Business Wire)
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"One of the primary growth drivers for this market is the Growing Cross-border Trade in Developing Economies," says a senior analyst for the Industrials industry at Technavio.
The largest share of the consumer goods market is contributed by BRICS nations, followed by North America and Europe. The courier, express, and parcel market is projected to be driven by the revival of the manufacturing sector and expected economic expansion. Asian countries such as China, Taiwan, Korea, and Thailand are witnessing increased penetration of electronic devices. This, coupled with the availability of multiple online payment methods and the growth in electronic goods, automobiles, and food and beverage shipments, will benefit the courier, express, and parcel industry. The rise in contract manufacturing of FMCGs in emerging markets will also significantly influence courier, express, and parcel market growth over the forecast period.
As the markets recover Technavio expects the courier, express, and parcel market size to grow by USD 58.32 billion during the period 2020-2024.
Courier, Express, and Parcel Market Segment Highlights for 2020
The courier, express, and parcel market is expected to post a year-over-year growth rate of -1.35%.
With the rising e-commerce sales, the CEP market will witness steady growth in the B2C segment. In addition to shipments from businesses, the segment also includes returns by customers.
Market growth in the B2C segment will be faster than the growth of the market in the other consumer segments.
44% of the growth will originate from the APAC region.
The rapid growth in e-commerce activities in the region that is driving the growth of the B2B and B2C sectors will increase courier, express, and parcel activities, influencing market growth in this region.
China is one of the critical markets for courier, express, and parcel in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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The courier, express, and parcel market size is expected to accelerate at a CAGR of over 3% during the forecast period.
The courier, express, and parcel market is segmented by Consumer (B2B, B2C, and C2C) and Geography (APAC, North America, Europe, MEA, and South America).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including A1 Express Delivery Service Inc., Allied Express Transport Pty Ltd., Aramex International LLC, BDP International Inc., CEVA Logistics AG, Deutsche Post DHL Group, FedEx Corp., One World Express Inc. Ltd., and SF Holding Co. Ltd.
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