The express business has had a good run during the past three years, at least from a volume perspective as 2021 shipment growth has been strong for DHL, FedEx, UPS, and SF Express in all their main markets. And 2020 saw strong growth in domestic and international markets. For the rest of this year and beyond, all the major express companies are bullish with regard to the outlook, even if many are struggling with year-round peak operations, network inefficiencies and labor cost increases.
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