As other logistics markets have felt the full force of Covid-19 lockdowns and economic downturn, the story for the Global Express & Small Parcels market has been markedly different. The Global Express market has experienced impressive growth during an eventful year.
Ti’s latest market projections reveal the Express logistics market will grow at a CAGR of 7.5% for 2020-2024, and is expected to surpass €500bn by 2024. Forecast growth in the international market is strong at 6.8%, whilst growth in the domestic market is even stronger at 7.7%.
Regional growth prospects are mixed. Europe, South America and the Middle East’s growth rates are considerably higher than pre-Covid projections, whereas new projections for North America are significantly slower than pre-Covid forecasts. Growth rates for Asia Pacific remain nearly unchanged from those forecast before the pandemic.
Download Ti’s latest whitepaper for a full breakdown of 2020-2024 express market growth forecasts, split by region and domestic & international.
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