Electric Cargo Bikes Market Forecasts to 2028 – Global Analysis By Battery Type (Lithium-Ion, Nickel-Based, Lead-Based), End User (Personal Use/ Transportation, Courier & Parcel Service Providers, Large Retail Supplier, Service Delivery, Waste Municipal Service) and By Geography
According to Stratistics MRC, the Global Electric Cargo Bikes Market is accounted for $550.00 million in 2020 and is expected to reach $1,568.92 million by 2028 growing at a CAGR of 14.0% during the forecast period. Factors such as growing concerns regarding air pollution, developments in the e-commerce industry, and increasing awareness regarding sustainable products are driving the growth of the market. However, high price of electric cargo bikes and large size of the batteries are hampering the growth of the market.
Electric cargo bikes are generally lightweight and are operated on battery. Hence, they have a low running cost and are environment friendly. Its specially-designed frames help in carrying larger and heavier loads.
Based on the product, the two-wheeler segment is anticipated to expand at a rapid pace during the forecast period owing to its ability to handle large delivery quantities and to provide efficient mobility experience. By geography, Europe is going to have high growth during the forecast period which can be attributed to the wide acceptance of electric cargo bikes and the government initiatives in encouraging its adoption.
Some of the key players profiled in the Electric Cargo Bikes Market include Amsterdam Bicycle Company, Urban Arrow, Butchers & Bicycles ApS, Worksman Cycles, Triobike, Yuba Electric Cargo Bikes, Pedego Electric Bikes, Xtracycle Inc, Rad Power Bikes Inc, Riese & Müller GmbH, Tern Bicycles (Mobility Holdings, Ltd.), XYZ Cargo, Carqon (Accell Group N.V.), Babboe, and Cero Electric Cargo Bikes.
Estimated Market Size in 2020:
USD 550.00 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 1,568.92 million
Tables, Graphs & Figures
Product, Battery Type, Wheel Size, Vehicle Infrastructure Type, End User, and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Battery Types Covered:
Wheel Sizes Covered:
• Below 20"
Vehicle Infrastructure Types Covered:
• Two Stroke Motorcycles
End Users Covered:
• Personal Use/ Transportation
• Courier & Parcel Service Providers
• Large Retail Supplier
• Service Delivery
• Waste Municipal Service
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Electric Cargo Bikes Market is majorly driven by growing concerns regarding air pollution, developments in the e-commerce industry, and increasing awareness regarding sustainable products.
The lithium-ion segment is growing at a highest CAGR owing to the ability of fast-charging lithium-ion batteries in minimizing the duration of time the bike is connected to a charging station.
Europe dominated with a significant market share due to the factors such as the wide acceptance of electric cargo bikes and the government initiatives in encouraging its adoption.
Asia Pacific market is growing at a highest CAGR owing to the growing awareness about the advantages of electric cargo bikes.
Key players in Electric Cargo Bikes Market include Amsterdam Bicycle Company, Urban Arrow, Butchers & Bicycles ApS, Worksman Cycles, Triobike, Yuba Electric Cargo Bikes, Pedego Electric Bikes, Xtracycle Inc, Rad Power Bikes Inc, Riese & Müller GmbH, Tern Bicycles (Mobility Holdings, Ltd.), XYZ Cargo, Carqon (Accell Group N.V.), Babboe, and Cero Electric Cargo Bikes.
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