Report : Asia Pacific Express Delivery Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Destination (Domestic and International), Business Type (B2B and B2C), and End-user (Automotive, Retail and E-commerce, Pharmaceuticals, BFSI, IT and Telecom, Electronics, and Others)
Automotive Segment to Dominate the Asia Pacific Express Delivery Market during 2020–2027
According to a new market research study on “Asia Pacific Express Delivery Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Destination, Business Type, and End- users,” is expected to reach US$ 171,472.25 million by 2027 from US$ 104,999.38 million in 2020. The market is estimated to grow at a CAGR of 7.3% from 2020 to 2027. The report provides trends prevailing in the Asia Pacific express delivery market along with the drivers and restraints pertaining to the market growth. Utilization of technology in express delivery operations, increasing adoption of express delivery to offer better customer experience and improved adoption of e-commerce among the population are the major factor driving the growth of the express delivery market. However, high cost associated with express delivery hinder the growth of express delivery market.
Due of a massive number of cases in India, the APAC region is greatly affected by COVID-19, the country also homes the largest population across the world, thereby imposing greater risk to a large number of individuals; it is also a world leader of many global brands. According to the organization for economic co-operation and development (OECD), the pandemic has also affected other major economies outside China, such as the large India, Australia and Japan, and is experiencing downward inflation. The sudden closedown of all economic activities across all countries in the region has highly I impacted the delivery industry. The closedown of manufacturing sites led to decrease in imports and exports of goods on urgent basis to any country. Additionally, the nationwide lockdown imposed across major economies of the region like Australia, India and China have impacted the ecommerce market apart from the essentials thereby, negatively impacting the express delivery market across the region. However, the healthcare sector across the region have been using the services for ensuring proper supply of drugs and other requirements across hospitals, clinics and home cares. Thus, though the healthcare sector has been using the services during the pandemic, the other industries were unable to utilize the facility thereby, impacting the market negatively during the covid-19 outbreak.
Asia Pacific express deliver market is segmented based on destination, business type, and end users. Based on destination, the Asia Pacific express delivery market is segmented into domestic and international. The domestic segment accounted for the highest share in the market in 2019 and international segment is expected to be fastest growing during forecast period. Based on business type, is segmented into B2B and B2C. The B2B segment accounted for the highest share in 2019 and B2C sector is expected to be the fastest growing during forecast period. Based on end-user, the market is segmented into automotive, retail and e-commerce, pharmaceuticals, BFSI, IT and telecom, electronics, and others. The automotive segment accounted for the highest share in 2019 and retail and automotive sector is expected to be the fastest growing during forecast period.
Amazon.com, Inc.; Aramex; Delhivery Private Limited; DHL International GmbH; FedEx Corporation; SF Express (Group) Co. Ltd; TNT Holdings B.V.; and United Parcel Service of America, Inc. are among the leading companies in the Asia Pacific express delivery market. The market players focus on new product innovations and developments in order to achieve sustainable growth and to distinguish themselves among competitors present in the highly competitive express delivery market. For instance, In February 2021 SF EXPRESS (GROUP) CO. LTD acquired roughly a 20% stake in Kerry Logistics Network Ltd. Kerry Logistics is also considering selling several assets, including some warehouses, back to its parent company.
The report segments the Asia Pacific Express Delivery Market as follows:
Asia Pacific Express Delivery Market – By Destination
Asia Pacific Express Delivery Market – By Business Type
Asia Pacific Express Delivery Market – By End-user
- Retail and E-commerce
- IT and Telecom
Asia Pacific Express Delivery Market – By Country
- South Korea
- Rest of APAC
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