Market Size of asean courier, express, and parcel (cep) Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 15.45 Billion |
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Market Size (2030) | USD 23.51 Billion |
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Largest Share by Destination | Domestic |
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CAGR (2024 - 2030) | 7.24 % |
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Largest Share by Country | Indonesia |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
ASEAN Courier, Express, and Parcel (CEP) Market Analysis
The ASEAN Courier, Express, and Parcel (CEP) Market size is estimated at 15.45 billion USD in 2024, and is expected to reach 23.51 billion USD by 2030, growing at a CAGR of 7.24% during the forecast period (2024-2030).
15.45 Billion
Market Size in 2024 (USD)
23.51 Billion
Market Size in 2030 (USD)
5.60 %
CAGR (2017-2023)
7.24 %
CAGR (2024-2030)
Fastest Growing Market by Speed of Delivery
8.12 %
Projected CAGR, Express, 2024-2030
Various developments in express air parcel delivery services and the extension of established parcel delivery networks are driving the segment's growth.
Fastest Growing Market by Model
9.43 %
Projected CAGR, Business-to-Consumer (B2C), 2024-2030
Significant growth of e-commerce and the presence of major e-marketplaces in the region are largely generating B2C delivery demand.
Largest Market by Shipment Weight
67.52 %
value share, Light Weight Shipments, 2023
Increasing demand has led to the rise of various on-demand delivery services and services specifically for lightweight shipments.
Largest Market by End User Industry
35.62 %
value share, E-Commerce, 2023
Courier and express services are becoming increasingly important in the e-commerce industry, as consumers expect orders to arrive quickly due to changing shopping behavior.
First leading Market player
18.93 %
market share, J&T Express, 2022
J&T Express offers services in six ASEAN countries, namely Indonesia, Thailand, Malaysia, Vietnam, Philippines, and Singapore.
The domestic CEP segment dominates the market
- In 2022, the domestic segment of the ASEAN courier, express, and parcel market made a contribution of 68.91% to the revenue generated, while the international segment contributed a share of 31.09% of the revenue generated. The main driver is booming e-commerce in Vietnam, Thailand, Indonesia, and Malaysia. Domestic and international segments are projected to grow by 14.62% YoY and 19.66% YoY, respectively, in 2023.
- The logistics venture of Capital A Berhad, Teleport, raised USD 50 million in 2022 to support the extension of its cross-border delivery capabilities in all key Southeast Asian markets. The goal is to add additional freighters and build critical hubs in Indonesia, the Philippines, and Malaysia. The company also aims to invest in technology that would facilitate deliveries within 24 hours across the region. The company alone holds great potential for CEP growth as it quadrupled its intra-Southeast Asian market share in cargo volume from 2% in 2021 to 9% as of the third quarter of 2022. It also grew its e-commerce business by 600% YoY. The company serves three of the largest marketplaces that drive CEP market growth in Southeast Asia: Shopee, Lazada, and Zalora.
- ASEAN's total market revenue from CEP delivery was USD 7.92 billion in 2019 and is expected to reach USD 16.91 billion by 2025, registering a 13.49% CAGR during 2020-2025. The B2B segment accounted for the largest share, with about 71% of market revenue in the same year, but the growth prospects of the B2C segment are expected to grow faster, with a 15.9% CAGR during 2020-2025 and a projected worth of USD 5.47 billion by 2025. In 2019, Indonesia's small parcel delivery services market accounted for almost 30% of the total ASEAN small parcel delivery revenues, followed by Malaysia (18%) and Thailand (17%).
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Understand The Key Trends Shaping This Market
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Adoption of e-delivery vehicles, establishment of cargo villages among drivers of regional market demand
- The parcel volume in the region was driven mainly by surge in e-commerce-led parcel shipments along with other end users. Several initiatives are being undertaken to strengthen air and road deliveries of parcels in Vietnam. For instance, for 2021-2030, major works for strengthening airport infrastructure are underway, the biggest of which is at the Hanoi and existing Ho Chi Minh City airports, with an investment worth USD 9.6 billion. Also, in 2018, DH, a global courier, launched electric vehicles for the efficient delivery by road.
- To facilitate e-commerce shipments in Indonesia, state-owned airport operators PT Angkasa Pura II (AP II) planned to establish a cargo village area at Soekarno-Hatta Airport, Banten Province, and Kertajati Airport, West Java Province, in 2022. Also, with around 73 million online active users in 2021, as well as the 2022 e-commerce Philippines Roadmap, which focuses on addressing obstacles associated with e-fulfillment and last-mile delivery services, the B2C segment has been driving the CEP market in the Philippines. Electric transportation has facilitated last-mile transportation in the Philippines. For instance, Gogoro Inc. and 917Ventures collaborated on an urban battery-swapping scheme for enhancing mobility efficiency.
- In 2015, UPS, a leading parcel giant, ventured into Myanmar with its express delivery service. The express services facilitate businesses to deliver across and beyond Myanmar, with transit times between 1 and 3 business days across Asia, Europe, and the United States. In 2019, Thailand Post adopted a pilot program to deliver parcels through electric vans to reduce its carbon footprint and aims to transform its deliveries through electric fleets by 2050. Also, DHL aims to increase its EV fleet in Thailand to 71 by 2023.
