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The global express delivery market is driven by e-commerce growth, increasing B2C deliveries, and rapid expansion of international trade services.
WILMINGTON, DE, UNITED STATES, October 17, 2024 /EINPresswire / -- According to the report, the global express delivery market size generated $262.8 billion in 2020, and is anticipated to generate $484.3 billion by 2030, witnessing a CAGR of 6.4% from 2021 to 2030.
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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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.
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.
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Covid-19 Scenario
1. The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global Express Delivery market, owing to the implementation of the global lockdown.
2. 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.
3. This trend is likely to continue in the post-COVID era too.
By end-use, the e-commerce platform segment dominated the global express delivery market in 2020, in terms of revenue, and the others segment is anticipated to witness highest CAGR of 8.6% during the forecast period. Presently, Asia-Pacific is the highest revenue contributor, and expected to lead the market during the forecast period, followed by Europe.
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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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.
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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