Global CEP market to grow at 6.3% CAGR by 2031

WILMINGTON, DELAWARE, UNITED STATES, September 22, 2023/EINPresswire.com/ -- The courier, express, and parcel (cep) market size was valued at $407.7 billion in 2021, and is estimated to reach $749 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.

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.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭@ https://www.alliedmarketresearch.com/courier-express-and-parcel-market/purchase-options

Major economies such as India, China, the U.S., and Germany, among others observed an increase in demand for courier, express, and parcel services as the COVID-19 pandemic changed the consumer spending habits. Moreover, increase in investments and adoption of IT-enabled technology within courier, express, and parcel industry influences adoption of this services. For instance, DHL Express forecasts continuous growth in express transport in France of around 8% p/a for the period 2021 to 2025. In addition, in September 2020, DHL Express announced investments of $200 million (€170 million) in its new hub at Paris Charles de Gaulle Airport in October 2021.

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.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/11881

Moreover, the continuous enhancement of the e-commerce industry, increase in trade-related agreements, and growth in demand for the fast delivery of packages drives the global courier, express, and parcel market towards a positive growth in the current scenario. However, the factors such as improper infrastructure & increased logistics costs and uncontrolled nature of logistics services are the factors that hinders the growth of the market across the globe. In addition, continuous developments in delivery services and emergence of last-mile deliveries coupled with logistics automation creates numerous opportunities for the key players to develop effective strategies which supplements the growth of the market during the forecast period.

Owing to the growing demand for faster delivery of courier & parcel across the globe. In addition, the key players operating in the industry have adopted faster means of transportation which creates a booster for the growth of the market across the globe. By business, the B2B segment dominated the global courier, express, and parcel market in 2021, in terms of revenue. By destination, the domestic segment dominated the global courier, express, and parcel industry in 2021, in terms of revenue. By end-user, the services segment dominated the global courier, express, and parcel market in 2021, in terms of revenue. By mode of transportation, the roadways segment dominated the global courier, express, and parcel market in 2021, in terms of revenue. Presently, Asia-Pacific is the highest revenue contributor and expected to lead the market during the forecast period, followed by North America.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/11881

The key players operating in the courier, express, and parcel market are Aramex, Deutsche Post AG, FedEx, One World Express Inc. Ltd, Poste Italiane, PostNL Holding B.V., Qantas Airways Limited, Royal Mail Group Limited, SF Express, Singapore Post Limited, United Parcel Service of America, Inc., and Yamato Transport Co., Ltd.

David Correa
Allied Analytics LLP
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.