Thailand Courier, Express, and Parcel (CEP) Market Revenues to Reach USD 2.88 billion by 2028 – Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence
Hyderabad, July 04, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled “Thailand Courier, Express, and Parcel (CEP) Market Report (2023-2028),” the market is estimated at USD 1.6 billion in 2023. It is expected to register a CAGR of 12.51% during the forecast period.
The courier, express, and parcel industry in Thailand boasts two biggest advantages – the country’s superior road network and its strategic location in the Southeast Asia region. Coupled with the growth in e-commerce and adequate government support to boost express delivery services inside the country, the market under study is expected to grow in the coming years, according to Mordor Intelligence.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.6 billion |
| Market Size (2028) | USD 2.88 billion |
| CAGR (2023-2028) | 12.51% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growth in E-commerce. |
| Government support. |
Who are the Top Companies in the Thailand Courier, Express, and Parcel (CEP) Market?
The Thai CEP market is fragmented. Companies are focusing on reducing operating costs while competing with each other based on price, reliability, delivery speed, and supply chain capacity. Established shipping companies are using value-added services to differentiate themselves from the rest. The competition from foreign players is also immense, making it difficult for new entrants.
The significant players in the Thai CEP market in 2023 with a majority market share are:
- Thailand Post
- Kerry Express (Thailand) Public Company Limited
- TP Logistics (Thai Parcels Co. Ltd)
- SCG Yamato Express Company Limited
- Nim Express Company Limited
- Deutsche Post DHL Group
- BEST Inc. (BEST Express Thailand)
- CJ Logistics Thailand (CJ Express)
- Flash Express (Thailand) Company Limited
- Lazada Express
Other Reports That Might Be of Your Interest:
- Japan Courier, Express, and Parcel (CEP) Market Report – The Japanese CEP market size is estimated at USD 20.31 billion in 2023. It is expected to reach USD 37.88 billion by 2028, registering a CAGR of 13.28% during the forecast period (2023-2028).
- Sweden Courier, Express, and Parcel (CEP) Market Report – Sweden’s courier, express, and parcel market is anticipated to register a significant CAGR of more than 10% over the next five years.
Key Highlights from the Thailand Courier, Express, and Parcel (CEP) Market Report:
Growth in E-commerce
- Thailand’s e-commerce sector has been experiencing two-digit growth since 2021. The traditional parcel industry and delivery services in Thailand have quickly adapted to these demands to include consumer deliveries efficiently.
- With the growing cross-border e-commerce, international shipping companies in Thailand are also growing. Restrictions on cross-border logistics help players avoid taxes while selling to foreign countries.
Growing Foreign Trade
- The government is encouraging Thai SMEs to access global markets with supportive initiatives. Thus, Thailand’s international express services market is expected to register a CAGR of up to 9% in the coming years.
- The United States is an important export destination for Thailand with a strong trade relationship. Other major export destinations include China, Japan, Vietnam, Australia, and Singapore.
What are the Latest Developments in the Thailand Courier, Express, and Parcel (CEP) Market?
- In July 2022, UPS introduced a new route from Suvarnabhumi Airport in Bangkok, Thailand, to its inland Asian hub in Shenzhen, China. The new route is poised to enhance international trade opportunities for Thai businesses.
- In January 2022, Kerry Express partnered with Grab Thailand and introduced two new pick-up services in the Greater Bangkok area. The two companies plan to expand these services to more regions in the coming years.
Mordor Intelligence has Segmented the Thailand Courier, Express, and Parcel (CEP) Market Based on Business, Destination, and End-use Industry.
- By Business (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Business-to-Business (B2B)
- Business-to-Customer (B2C)
- By Destination (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Domestic
- International
- By End-use Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Services (includes BFSI (banking, financial services and insurance), etc.)
- Wholesale and Retail Trade (including e-commerce)
- Life Sciences/Healthcare
- Industrial Manufacturing
- Other End-use Industries
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Thailand Courier, Express, and Parcel (CEP) Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- United Kingdom Courier, Express, and Parcel (CEP) Market Report – The UK CEP Market size is expected to grow from USD 16.10 billion in 2023 to USD 23.59 billion by 2028, at a CAGR of 7.93% during the forecast period (2023-2028).
- France Domestic Courier, Express, and Parcel (CEP) Market Report – The French domestic CEP market size is expected to grow from USD 11.32 billion in 2023 to USD 15.91 billion by 2028, at a CAGR of 7.05% during the forecast period (2023-2028).
- North America Courier, Express, and Parcel (CEP) Market Report – The North American CEP market size is expected to grow from USD 133.69 billion in 2023 to USD 207.77 billion by 2028, at a CAGR of 9.22% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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