Hyderabad, July 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Saudi Arabia Courier, Express, and Parcel (CEP) Market Report (2023-2028)," the market is estimated at USD 1.11 billion in 2023. It is expected to register a CAGR of 10.31% during the forecast period.
Saudi Arabia is one of the major online retailing markets in the Middle East. Thus, the country has become an attractive destination for domestic and international shipments. Major companies are making their strides in the country with strategic investments to establish a regional logistics network, opening new distribution centers, smart warehouses, etc.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.11 billion |
| Market Size (2028) | USD 1.82 billion |
| CAGR (2023-2028) | 10.31% |
| 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 | The growth of e-commerce and technological advancement. |
| Increasing cross-border shipments. |
Who are the Top Companies in the Saudi Arabia Courier, Express, and Parcel Market?
The Saudi CEP market is relatively consolidated, with the top five domestic and international players dominating the market. Eying the growth of the e-commerce sector, digitally enabled logistics startups are rising in the country. Companies are striving to improve their digital capabilities.
These are the top CEP companies in the Saudi CEP market in 2023:
- SMSA Express
- Aramex
- Deutsche Post DHL group
- Saudi Post Corporation
- Naqel Express
- Zajil Express
- Alma Express
- FedEx/SAB Express
- Abdul Latif Jameel Logistics
- United Parcel Service Inc.
- Esnad Express
- Noon Logistics
Other Reports That Might Be of Your Interest:
- Australia Courier, Express, and Parcel (CEP) Market Report - The Australian CEP market size is estimated at USD 9.37 billion in 2023. It is expected to reach USD 13.46 billion by 2028, registering a CAGR of 7.50% during the forecast period (2023-2028).
- China Courier, Express, and Parcel (CEP) Market Report - The Chinese CEP market size is estimated at USD 127.29 billion in 2023. It is expected to reach USD 238.54 billion by 2028, witnessing a CAGR of 13.39% during the forecast period (2023-2028).
Key Highlights from the Saudi Arabia Courier, Express, and Parcel Market Report:
Growth in the E-commerce Sector
- The e-commerce logistics sector in Saudi Arabia is at a nascent stage. The e-commerce segment accounts for the majority of the B2C CEP market.
- The top three online retailers in Saudi Arabia collectively generate 5% of the country's online sales.
Growth in International Trade
- Saudi Arabia's economy ranked 20 globally in terms of GDP in 2020. In 2021, Saudi Arabia experienced a 43% increase in air traffic and a 7% increase in marine traffic.
- Imports from China, the United Arab Emirates, the United States, Germany, and India (Saudi Arabia's top five importers) are growing each year, creating opportunities for the CEP market.
What are the Latest Developments in the Saudi Arabia Courier, Express, and Parcel Market?
- In June 2022, Geidea, a leading Saudi Fintech firm, teamed up with delivery-as-a-service startup BARQ to enable point-of-delivery digital payments for BARQ clients via the Geidea-enabled BARQ App.
- In March 2022, BATIC Investments & Logistics Company (BATIC) declared that it is considering buying the entire Afkar Logistics Company stock. The acquisition increased the company's local investment volume.
Mordor Intelligence has Segmented the Saudi Arabia Courier, Express, and Parcel Market Based on Business, Destination, and End-user Industries.
- 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-user 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-user 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 Saudi Arabia 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 States Courier, Express, and Parcel (CEP) Market Report - The US CEP market size is estimated at USD 116.71 billion in 2023. It is expected to reach USD 180.35 billion by 2028, registering a CAGR of 9.09% during the forecast period (2023-2028).
- India Domestic Courier, Express, and Parcel (CEP) Market Report - The Indian CEP market size is expected to grow from USD 7.28 billion in 2023 to USD 15.75 billion by 2028, at a CAGR of 16.69% during the forecast period (2023-2028).
- United Kingdom Domestic 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).
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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