According to the research report titled ‘Global Parcel Delivery Market Size study, by Vehicle Type (LCV, HCV), by End-Use (Retail, Petroleum, Defense, Chemical, Construction, Logistics & shipping,) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global parcel delivery market was worth USD 540 billion in 2021 and is anticipated to register 8% CAGR over the forecast duration to accumulate USD 925.5 billion by the year 2028.

Report findings suggest that growing e-commerce industry, rising penetration of internet among users, as well as rapid globalization are the major growth determinants for global parcel delivery market.

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For the unversed, parcel delivery is the process of transporting a parcel to a specific location by road, rail, or air. A parcel is described as commodities or objects that are wrapped in paper, sealed in an envelope, or contained in a box.

However, soaring costs of transportation and high tariffs by the government are expected to impede industry growth in the coming years.

Based on vehicle type, the market is divided into HCV and LCV. In terms of end-use, worldwide parcel delivery industry is branched into logistics & shipping, construction, chemical, defense, petroleum, and retail.

Regionally, the latest industry trends are studied across North America (U.S., Canada), Europe (U.K, France, Germany, Spain, Italy), Asia Pacific (China, South Korea, India, Australia, Japan), and Latin America (Brazil, Mexico).

As per seasoned analysts, Europe market is witnessing notable growth at present, due to the presence of automobile manufacturers and various major industries in the region.

Whereas Asia Pacific industry is poised to witness a healthy CAGR over the analysis timeframe, on the back of rising demand for parcel delivery with huge number of commodities being exported to and imported from the different nations.

Speaking of competitive landscape, La Poste, Royal Mail Group plc, United States Postal Service, Japan Post Holdings Company Ltd., SG Holdings Co. Ltd., Yamato Transport Company Ltd., Deutsche Post AG, FedEx Corporation, United Parcel Service, and Amazon Logistics are the leading players in global parcel delivery marketplace.