Electric Cargo Bikes Market

Electric Cargo Bikes Market Size, Share And Segmentation By Product Type, By Battery Type, By End-Use, By Regions And Global Market Forecast 2023-2030

AUSTIN, TEXAS, UNITED STATES, March 13, 2024 /EINPresswire.com/ — Electric Cargo Bikes Market Electric cargo bikes provide a practical means of transporting heavy loads within urban environments. With the assistance of electric motors, riders can easily navigate through traffic and conquer hilly terrain while carrying substantial cargo loads.

Market Size –

The SNS Insider report indicates that the Electric Cargo Bikes Market was valued at USD 1.78 billion in 2022, and it is projected to achieve a market size of USD 6.34 billion by 2030, with a compound annual growth rate (CAGR) of 17.2% expected over the forecast period from 2023 to 2030.

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Market Report Scope –

The electric cargo bike is very flexible and offers a comfortable ride due to its low weight. For transportation of packages, cargo, food and more, they can be used as an effective mode of transport. These vehicles are increasing as they are environmentally friendly and have a low running cost are the key market drivers enhancing market growth.

Market Growth Factors –

An electric cargo bike is a type of cargo bike that runs on batteries, and an electric cargo bike allows the rider to carry heavy objects that are difficult to move by human power. The bikes are light in weight and come with a clean design, which allows them to be much more stable and comfortable. Also, the electric cargo bikes are eco-friendly, they are a specific speed limit, which ensures the safety from damages to the cargo. They have less running cost and it can travel faster in the cities. The main factor driving the market growth of the electric cargo bike industry is the growing global consciousness about the environment. The growth of the market has been substantially supported by increased government investment to promote renewable energy sources and environmentally benign alternatives. Compared to two wheelers, sales of three-wheeler cargo bikes have grown at a relatively rapid rate.

Key Players –

Cero Electric Cargo Bikes (US), Kocass Technology Co., Ltd. (China), Douze Factory SAS(France), Rad Power Bikes LLC (US), Yuba Electric Cargo Bikes (US), Jiangsu Xinri E-Vehicle Co., Ltd (China), Xtracycle (US), Worksman Cycles (US), Riese & Müller GmbH (Germany) and Butchers & Bicycles (Denmark) are some of the affluent competitors with significant market share in the Electric Cargo Bikes Market.

Segmentation Analysis –

The electric cargo bicycles market is divided into two, three and four wheelers on the basis of product type the two-wheeler sub-segment generated the largest revenue, accounting for more than half of the market share in 2022, and is likely to do so in the future. The growth in the segment is due to increasing demand for e-Bikes during leisure activities. Based on battery type, the Electric Cargo Bikes Market segmentation includes lithium-ion, lead-based, and nickel-based. The lithium ion segment has been dominant in the market. For electricity, electric cars use lithiumion batteries. The market for these energy saving, pollution reduction vehicles has been helped by consumer acceptance of EV. The supply chain of the energy industry, in particular battery energy storage systems and renewable energy technologies, has been affected by the COVID 19 outbreak and propagation.

By Product Type:

• Two-wheeler

• Three-wheeler

• Four-wheeler

By Battery Type:

• Lithium-ion

• Lead-based

• Nickel-based

By End-use:

• Courier and Parcel Service Providers

• Service Delivery

• Personal Use

• Waste Municipal Services

• Large Retail Suppliers

• Others

Key Regional Development –

This market will be dominated by the North American market for electric cargo bicycles; the growth of the market in this region will be driven by the increased inclusion of more eBikes by various bike sharing operators as part of their fleet expansion. Due to the continued investment in developing and implementing innovative eco transportation solutions across the region, which aims at achieving its Sustainable Development Goals further increasing local market value, Europe’s electric cargo bike market accounts for a 2nd place share. In addition, the German market for electric cargo bikes accounted for the largest share of the overall European market and the United Kingdom market for electric cargo bicycles has been the fastest growing in Europe.

From 2023 to 2030, the Asia Pacific market for electrical cargo bikes is expected to experience strong growth at a compound annual growth rate. The growth of the regional market is supported by increasing awareness on environmentally friendly and low emission transport alternatives to cope with growing environmental concern. In addition, China holds the largest market share of electrical cargo bikes in Asia Pacific and India’s e.g. bike markets have grown at a faster rate than any other Asian region over the past year.

Key Takeaway’s–

The growth of the market is mainly driven by the features related to electrical cargo bikes, such as lower running costs and environmentally advantageous transport modes. Alternative factors supporting market growth include technological progress, in particular in the production of electric vehicles, and the growing preference for electric vehicles as a low emission mode of transport.

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Recent Developments –

October 2022: Douze Cycles, a French business, has launched a cargo bike series of four models, three incorporating electric help. An outstanding loading capacity of up to 205 kg can be found in the range of bikes.

June 2022: Tern has launched NBD, a low step ebike with a maximum gross vehicle weight of 140 kg, capable of handling up to 27 kg on the rear rack and up to 20 kg on the front rack.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global Electric Cargo Bikes Market Segmentation, By Product Type

8.1 Two-wheeler

8.2 Three-wheeler

8.3 Four-wheeler

9. Global Electric Cargo Bikes Market Segmentation, By Battery Type

9.1 Lithium-ion

9.2 Lead-based

9.3 Nickel-based

10. Global Electric Cargo Bikes Market Segmentation, By End-use

10.1 Courier and Parcel Service Providers

10.2 Service Delivery

10.3 Personal Use

10.4 Large Retail Suppliers

10.5 Waste Municipal Services

10.6 Others

11. Regional Analysis

Read More…!

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