Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "US Domestic Courier, Express, and Parcel (CEP) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029" report has been added to ResearchAndMarkets.com's offering.
The US Domestic Courier, Express, and Parcel Market size is estimated at USD 88.28 billion in 2024, and is expected to reach USD 133.17 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).
In 2021, US e-commerce shipments were estimated to be worth around USD 1.5 trillion, and it looks like that number is only going to keep going up as more and more people shop online.
After two years of growth driven by the COVID-19 pandemic, parcel volumes declined 2% in 2022. However, they remain on a trajectory well ahead of pre-covid projections. Shipped, received, and returned US parcels totaled 21.2 billion in 2022, an increase of 1.1 billion year-over-year.
According to the most recent Index, there were 58 million parcels shipped daily in the US in 2022 - an average of 674 parcels every second. The US per capita parcel volume decreased from 65 in 2021 to 64 in 2022, with an average parcel shipped per US household of 162 in 2022. US parcel volume decreased by 2% to 21.2 billion units in 2022, compared to 21.7 billion units in 2021.
Shipping costs are one of the most common expenses associated with online shopping and e-commerce. With the increasing popularity of online shopping, many people now prefer to have their purchases shipped to their doorsteps.
Shipping is one of the biggest expenses for many retailers. For some companies, shipping can cost as much as 30% of total operating expenses. With so much of their budget dedicated to shipping, it's no surprise that retailers are constantly looking for cost savings.
Growing B2C E commerce
In 2022, online retailing in the US made up a huge chunk of retail sales. The Internet and online shopping have become more and more popular, and this has led to a boom in B2C online shopping in the US. It's expected that the B2C industry in the US will continue to grow over the next few years.
Online retailing has also changed the way people shop. Instead of going to a physical store to buy something, more and more people are choosing to shop online because of how easy it is and how convenient it is to do it from home. Shopping online also saves people a lot of time. The online retailing industry in the USA is expected to keep growing and investing more, which means there's a need for more last-mile delivery services.
Growth of E-commerce is Pushing the US CEP Market
The US CEP market is heavily influenced by the fast-changing e-commerce industry. Internet penetration is very high, and e-commerce stores rely on courier service providers to ship their products to their customers. With the increasing customer demand for faster delivery, on-demand courier providers such as Uber RUSH, Postmates, etc., are popping up in the U.S. market, boosting the overall market outlook.
US e-commerce sales reached an all-time high of USD 1.04 trillion in 2022, after registering an annual growth rate of 8.5%. The annual growth rate was less than half that of the prior year and was the slowest growth rate in at least 10 years, but it still managed to cross the USD 1 trillion mark.
The largest increase occurred in 2020, when total sales increased by 42.7%, six times the rate of growth in 2022.
US Domestic Courier, Express, and Parcel (CEP) Industry Overview
The US domestic CEP market is fragmented. There is a domination of old players like FedEx, UPS, Amazon Logistics, etc., along with the market welcoming new entrants like Ontrac, Postmates, etc. Amazon has long been the most popular online marketplace in the world. In 2022, the company had over USD 500 billion in net sales. The United States is the most profitable market for Amazon. In 2022, its US subsidiary generated USD 356 billion in sales. Germany came in second with USD 33 billion, followed by the UK with USD 30 billion.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Value Chain/Supply Chain Analysis
4.3 Government Regulations and Initiatives
4.4 Technological Trends and automation
4.5 Insights into US Postal and Mail Services
4.6 Insights into the E-commerce Market
4.7 Insights into Start-ups and Venture Capital Funding in the CEP Industry
4.8 Elaboration on Storage Functions and Value-added Services in the CEP Business
4.9 Brief on Courier Rates
4.10 Insights into Reverse Logistics and Same-day Delivery Market
4.11 Insights into Deliveries During Festive Season (Christmas, Singles' Day, Black Friday, etc.)
4.12 Impact of COVID-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rise In E-commerce is driving the market
5.1.2 Growth in the consumer expenditure capacities
5.2 Market Restraints/Challenges
5.2.1 Last-Mile Delivery Challenges
5.2.2 Operational Costs
5.3 Market Opportunities
5.3.1 Technological Advancements
5.4 Industry Attractiveness - Porter's Five Forces Analysis
5.4.1 Bargaining Power of Buyers/Consumers
5.4.2 Bargaining Power of Suppliers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6 MARKET SEGMENTATION
6.1 Business Model
6.1.1 Business-to-Business (B2B)
6.1.2 Business-to-Customer (B2C)
6.1.3 Customer-to-Customer (C2C)
6.2 Type
6.2.1 E-commerce
6.2.2 Non-e-commerce
6.3 End User
6.3.1 Services
6.3.2 Wholesale and Retail Trade
6.3.3 Healthcare
6.3.4 Industrial Manufacturing
6.3.5 Other End Users
7 COMPETITIVE LANDSCAPE
7.1 Overview (Market Concentration and Major Players)
7.2 Company Profiles
7.2.1 United Parcel Services
7.2.2 FedEx
7.2.3 US Postal Service
7.2.4 Aramex
7.2.5 LaserShip
7.2.6 Expenditors International of Washington
7.2.7 DHL
7.2.8 General Logistics Systems
7.2.9 World Courier Group
7.2.10 Lone Star Holdings
7.2.11 T-Force Logistics
7.2.12 Cross Country Freight Solutions
7.2.13 Spee Dee Delivery Service Inc.
7.2.14 Express Courier*
8 FUTURE OF THE MARKET
9 APPENDIX
9.1 Macroeconomic Indicators (GDP Distribution by Activity, Contribution of Transport/Courier Industry to Economy)
9.2 Key Statistics Related to CEP Sector (Such as Sales/Revenue, Consumer Preferences, etc.)
For more information about this report visit https://www.researchandmarkets.com/r/yzv9x3
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