CEP Thailand Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Thailand CEP Market Analysis

The Thailand Courier, Express, and Parcel (CEP) Market size is expected to grow from USD 1.60 billion in 2023 to USD 2.88 billion by 2028, at a CAGR of 12.51% during the forecast period (2023-2028).

The market is driven by the growth of e-commerce in the country. Furthermore, the market is driven by SMEs requiring transportation services.

• Order fulfilment must be quick, effective, and trustworthy to maintain customer satisfaction with express delivery, but it is also one of the most difficult challenges any firm faces. Due to a lack of tourists and exports during the COVID-19 pandemic, Thailand's GDP contracted at its fastest rate in more than two decades in 2020. In comparison to the previous year, GDP fell by 6.1%. Southeast Asia's second-largest economy declined for the third year in a row. Exports, which fell 5.8% due to sluggish global demand, contributed to a significant portion of the economic loss. Thailand exported USD 272.01 billion in goods to countries worldwide in 2021, down from USD 292.2 billion the previous year. Thailand imported USD 295.85 billion in goods from all over the world last year.
• Thailand is located at the heart of Southeast Asia, and supported by its superior roadways network, the express delivery services market in the country is growing. The parcel delivery market in the country has been witnessing strong growth in the past few years in line with Thailand's e-commerce market, which is also growing by more than 10%. The growth in the market is being driven by consumer behaviour changing toward a growing preference for online shopping on online marketplaces such as Lazada, Shopee, JD Central, Priceza, and social commerce through social media platforms such as Facebook, Line, and Instagram.
• The support of the Thai government for developing SMEs is also propelling the growth of the market. Going forward, average transportation costs are expected to decrease. The companies are focusing on reducing operating costs and service costs, which helps them secure more volume and gain market share. The increasing number of foreign players in the Thai courier services market has increased competition, making it difficult for newer players to establish a market presence.

Thailand CEP Market Trends

This section covers the major market trends shaping the Thailand CEP Market according to our research experts:

E-commerce Driving CEP Market

Thailand CEP Industry Segmentation

CEP (courier, express, and parcel) refers to a set of services that entails the delivery of various commodities and products across many places via land, air, or water. In contrast to courier and parcel services, express deliveries are more time-bound, with various high-value consignments arriving in a few days or at a pre-arranged date and time. A complete background analysis of the Thailand Courier, Express, and Parcel (CEP) Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.

The Thailand Courier, Express, and Parcel (CEP) Market is segmented By Business (Business-to-Business (B2B) and Business-to-Customer (B2C)), By Destination (Domestic and International), and By End-User (Services (including BFSI (Banking, Financial Services and Insurance), etc.), Wholesale and Retail Trade (including E-commerce), Life Sciences/Healthcare, Industrial Manufacturing, and Other End Users). The report offers market size and forecasts for the Thailand courier, express, and parcel (CEP) market in values (USD billion) for all the above segments.