The fast growth of e-commerce, which has raised demand for effective and timely delivery services, is the main driver of the global express and small parcel market's notable boom. It is projected that e-commerce will continue to drive market expansion as it spreads throughout the world. The market is expected to develop at a robust compound annual growth rate (CAGR) of 8.3% from its 2024 valuation of USD 476.65 billion to USD 832.10 billion by 2031. The main causes of this growth are population growth and urbanisation, which are raising the demand for dependable and quick delivery options.
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Market Dynamics
One of the main factors propelling the worldwide express and small parcel market is the explosive rise of e-commerce. Online buying has changed consumer behaviour all across the world in the last ten years. Because they provide a large selection of goods, competitive pricing, and ease of use, e-commerce platforms have become extremely popular with customers. In emerging nations, where smartphone usage and internet penetration are increasing, this tendency is especially noticeable. The need for effective parcel delivery services has increased due to the growth of local e-commerce behemoths and international marketplaces like Amazon and Alibaba.
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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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