Mumbai: A new report by independent market analyst Datamonitor forecasts that China is set to become the world's sixth largest express and parcels market by 2010 - provided it continues growing at an average 20 per cent per year. Though the US express and delivery market is the largest in the world, the Asia-Pacific market is the fastest growing, globally.
Canada is currently the sixth largest express market in the world. However, Datamonitor expects China to be the holder of this rank by 2010.
Datamonitor estimates China's 2005 express delivery market value at $3.5 billion and puts the driving factor behind China's anticipated growth down to its increasing export activity with Europe and the US.
What's more, China, the fastest growing market in the Asia-Pacific express delivery sector, is set to become the sixth-largest express market in the world by 2010.
"China is increasingly being seen as the manufacturing centre of the world," says Emilio Pedrinaci, express analyst at Datamonitor and author of the study. "Post-WTO China is also experiencing rapid market liberalisation and modernisation as well as rising domestic consumption. Consequently it has become a strategic market for global businesses."
Express and Parcels Global Outlook 2006 provides an overview of the Global express and parcels delivery market including Global Express Scorecard and top three express markets globally, by region.