Courier, Express, And Parcel (CEP) Market Growth Trends Highlighted At A CAGR Of 6.3% By 2031

Courier, Express, and Parcel (CEP) Market

The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, competitive scenario

WILMINGTON, NEW CASTLE, DELAWARE, US, August 2, 2024 /EINPresswire / -- 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. 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.

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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 global courier, express, and parcel (CEP) market was valued at $407.7 billion in 2021, and is projected to reach $749 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.

The report offers a detailed segmentation of the global courier, express, and parcel (CEP) market size 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.

The key players profiled in this report include

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

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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.

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.

Regional Analysis:

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.

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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.

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Allied Market Research
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