Courier, Express and Parcel (CEP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Courier, Express and Parcel (CEP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global courier, express and parcel (CEP) market size reached US$ 415.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 540.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.

Courier, express and parcel (CEP) services comprise the delivery of parcels and documents through the land, air, and waterways across various locations. They help deliver non-palletized packages that usually weigh around a hundred pounds collectively. They operate on various business models, such as business-to-business (B2B), customer-to-customer (C2C), and business-to-customer (B2C). They provide value-added services, including express deliveries to retail consumers, government agencies, and business customers. At present, CEP services are gaining traction across the globe due to safe delivery options, cost-effectiveness, and parcel tracking facilities.

Courier, Express and Parcel (CEP) Market Trends:

Rapid urbanization, globalization, and a significant rise in cross-border trade channels are among the key factors positively influencing the market. In addition, increasing the expenditure capacity of individuals and the burgeoning e-commerce industry on account of the shifting consumer preferences towards online shopping is contributing to market growth. In line with this, the rising focus of e-commerce companies on strategic collaborations with CEP providers to deliver products across domestic and international locations is creating a positive market outlook. They are also improving value-added services, which include mobile tracking of products, SMS and e-mail alerts, and recorded call facilities. Furthermore, the growing consumer reliance on smartphones, laptops, tablets, and personal computers (PCs), along with the rising internet penetration, is offering a favorable market outlook. Apart from this, the increasing utilization of advanced digital technologies by the CEP service providers, such as delivery lockers, autonomous vehicles, and drone deliveries, are bolstering the market growth. These technological advancements help service providers improve operational efficiency and effectively meet customer requirements. Additionally, a considerable rise in the manufacturing industry is positively influencing the market. Moreover, the emerging trend of sending online gifts on special occasions and the widespread adoption of the work-from-home (WFH) policy by various organizations are driving the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global courier, express and parcel (CEP) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service type, destination, type and end-use sector.

Breakup by Service Type:

B2B (Business-to-Business)
B2C (Business-to-Consumer)
C2C (Customer-to-Customer)

Based on the service type, the market has been segmented into B2B (business-to-business), B2C (business-to-consumer), and C2C (customer-to-customer).

Breakup by Destination:

Domestic
International

On the basis of the destination, the market has been bifurcated into domestic and international.

Breakup by Type:

Air
Ship
Subway
Road

Based on the type, the market has been classified into air, ship, subway, and road.

Breakup by End-Use Sector:

Services (BFSI- Banking, Financial Services and Insurance)
Wholesale and Retail Trade (E-commerce)
Manufacturing, Construction and Utilities
Others

On the basis of the end-use sector, the market has been segregated into services (BFSI- baking, financial services and insurance), wholesale and retail trade (e-commerce), manufacturing, construction and utilities, and others.

Breakup by Region:

North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa

On the geographical front, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Aramex PJSC, Deutsche Post AG, Fedex Corporation, La Poste SA, Pos Malaysia Berhad, Poste Italiane SpA., PostNL NV, Qantas Courier Limited, Royal Mail Group Plc, SF Express Co. Ltd., SG Holdings Co. Ltd., Singapore Post Ltd., United Parcel Service Inc., Yamato Transport Co., etc.

Key Questions Answered in This Report:

What was the size of the global courier, express and parcel market in 2022?
What is the expected growth rate of the global courier, express and parcel market during 2023-2028?
What are the key factors driving the global courier, express and parcel market?
What has been the impact of COVID-19 on the global courier, express and parcel market?
What is the breakup of the global courier, express and parcel market based on the service type?
What is the breakup of the global courier, express and parcel market based on the destination?
What is the breakup of the global courier, express and parcel market based on type?
What is the breakup of the global courier, express and parcel market based on the end-use sector?
What are the key regions in the global courier, express and parcel market?
Who are the key players/companies in the global courier, express and parcel market?