The express cargo market is gearing up for an unprecedented surge in growth as projections indicate a substantial uptick in demand locally as well as in the rest of the world.
According to Garry Marshall, CEO of the South African Express Parcel Association (Saepa), few figures are available for the local market.
“Globally, the market was valued at $381 billion in 2021.
"A projected compound annual growth of 5.7% is expected to see the market grow to around $658bn by 2031.
"This is flat growth of 72% over the ten-year period,” he said during a recent presentation to the Transport Forum.
While no figures are available for the South African market, Marshall said the express cargo industry was estimated to be valued at around R20bn.
“Using the same annual growth rate of 5.7%, we can expect to see our local industry grow to at least R34bn by 2031.
"Our expectations are, in fact, for a higher growth rate that will take the industry closer to R40bn.”
Read the rest here: "Outlook positive as opportunities evolve."
