Market Overview
This remarkable development in the global express and small package industry is mostly due to the rapid growth of e-commerce, which has increased demand for efficient and quick delivery services. As e-commerce expands globally, it is anticipated to continue to propel market growth. With a strong compound annual growth rate (CAGR) of 8.3%, the market is anticipated to increase from current 2024 worth of USD 476.65 billion to USD 832.10 billion by 2031.
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Market Dynamics
The rapid growth of e-commerce is one of the key drivers of the global express and small parcel business. Over the past ten years, online shopping has altered consumer behaviour everywhere. E-commerce platforms have gained a lot of popularity among consumers due to their wide range of products, affordable prices, and user-friendly interface. This trend is particularly apparent in developing countries where internet penetration and smartphone usage are rising.
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Segments-
By Service Type:
o Express
o Standard
o Same-day Delivery
The market is divided into three segments based on the type of service: Express, Standard, and Same-Day Delivery. Standard is anticipated to dominate the market because of its dependability for non-urgent shipments, wide network coverage, and affordability. By the end of 2031, the standard category is predicted to have grown to USD 434.51 billion, having had a 54.4% share in 2023. Standard shipping is the recommended option for e-commerce, retail, and business-to-business transactions since businesses and consumers value cost while still needing reliable delivery services.
Key Players
The global express and small market is fairly consolidated in terms of key players with the top 4 players contributing to over 50% share in the industry. Some of the key players in the industry are DHL Express, DPDgroup, FedEx Express, Evri Limited, Royal Mail Group Limited, UPS, TNT Express, Japan Post, Blue Dart, DTDC, SF Express, Yamato Trasnport, Bombino Express, United Xpressamong, an others. The key players in the industry are actively pursuing strategic developments such as product launch, partnership agreements, etc to gain further foothold in the market.
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