A group of services known as courier, express, and parcel, or CEP, transport products and documents between different places via land, air, and sea. It is employed for the delivery of non-palletized packages, the average weight of which is one hundred pounds. CEP services improve the delivery experience to customers and function on business-to-business (B2B), business-to-customer (B2C), and customer-to-customer (C2C) models.
North America Courier, Express and Parcel Market Driving Factors and Challenges
Driving Factors: The courier, express, and package (CEP) sector in the United States is primarily driven by the ever-changing e-commerce industry, which is fueled by widespread internet access. The United States has the largest share of the CEP business in North America, thanks to a well-integrated supply chain network that connects producers and consumers via different means of transportation. Furthermore, rising client demands for faster and faster delivery have resulted in the emergence of on-demand courier companies such as UberRUSH and Postmates, which provide fast delivery services, positively boosting industry growth. The market is further helped by the region's increasing customer expenditure capacities.
Challenges: The courier, express, and parcel business faces considerable regulatory obstacles, particularly when operating across borders. Complex customs rules, trade policies, and import/export restrictions can all be hurdles to entry and raise operations expenses for CEP enterprises. Compliance with various regulatory requirements frequently necessitates significant resources and knowledge, which presents obstacles for smaller market actors. Furthermore, severe security and documentation requirements can cause delays and disruptions in overseas shipments, reducing the overall efficiency of CEP services. Furthermore, the environmental effect of CEP operations limits market growth as customers and regulatory authorities become more conscious of sustainability issues and seek greener solutions. The reliance on fossil fuels for transportation increases carbon emissions and air pollution, creating worries about CEP firms' environmental footprint.
Impact of COVID-19 on North America Courier, Express and Parcel Market
The COVID-19 epidemic had a direct impact on courier, express and parcel companies. Courier, express, and parcel enterprises play an important role in value chains both within and across international borders, facilitating trade and commerce and assisting businesses in getting their products to customers. As a result, supply chain disruptions caused by the pandemic had an influence on the courier, express, and package industry's competitiveness, economic growth, and employment losses. However, as expected, e-commerce expansion had a considerable impact on parcel transportation volumes.
North America Courier, Express and Parcel Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Amazon, Aramex, DHL Group, Dropoff Inc, FedEx, International Distributions Services, OnTrac, Spee Dee Delivery Service Inc, United Parcel Service of America, Inc, USA Couriers, USPS, and Yellow Corporation are a few of the major companies operating in the market.
North America Courier, Express and Parcel Market Segmentation:
By Destination: Based on the Destination, North America Courier, Express and Parcel Market is segmented as; Domestic, International.
By Speed of Delivery: Based on the Speed of Delivery, North America Courier, Express and Parcel Market is segmented as; Express, Non-Express.
By Model: Based on the Model, North America Courier, Express and Parcel Market is segmented as; Business-to-Business, Business-to-Consumer, Consumer-to-Consumer.
By Shipment Weight: Based on the Shipment Weight, North America Courier, Express and Parcel Market is segmented as; Heavy Weight Shipments, Light Weight Shipments, Medium Weight Shipments.
By Mode of Transport: Based on the Mode of Transport, North America Courier, Express and Parcel Market is segmented as; Air, Road, Others.
By End User Industry: Based on the End User Industry, North America Courier, Express and Parcel Market is segmented as; E-Commerce, Financial Services, Healthcare, Manufacturing, Primary Industry, Wholesale and Retail Trade.
By Region: This research includes data for US, Canada, Mexico, and Rest of North America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.