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The global electric cargo bike market is expected to exhibit a CAGR of 12.17% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Electric cargo bike, or freight bicycle, refers to a lightweight, battery-operated cargo-carrying vehicle that is designed to enable riders to carry and transport heavy products. As compared to a conventional bike, it is more eco-friendly, sleek, lightweight, faster, and offers superior stability, which minimizes adverse ecological, social, and economic effects. Apart from this, an electric cargo bike is portable, smooth, cost-effective, and an easy to ride transportation medium, due to which it is extensively used by riders for covering short distances in urban areas. At present, electric cargo bike is commercially available in two, three, and four-wheeler bicycle types that are further driven by nickel-metal hydride (NiMH) and lithium-ion (Li-Ion) batteries.
With the rapid expansion in the automotive industry and the increasing number of ongoing automobile engineering activities, there has been increasing demand for eco-friendly and cost-effective urban commute options, such as electric cargo bike, especially in traffic-congested cities. This, in turn, represents one of the key factors driving the market growth. In line with this, the rising environmental concerns have prompted governments of different nations to undertake numerous green initiatives promoting the uptake of electric cargo bikes over conventional bikes to minimize noise and air pollution, which is acting as another major growth-inducing factor. Additionally, the incorporation of lithium-Ion (Li-Ion) batteries in the vehicle owing to its high energy density, better voltage capacity, longer charge retention, and lower self-discharge, is propelling the market growth. Moreover, the extensive utilization of e-commerce platforms has facilitated the widespread adoption of electric cargo bikes in logistic companies to offer last-mile delivery services, thus supporting the market growth. Other factors, such as strategic collaborations amongst key players and the significant investments being made in the research and development (R&D) activities to introduce electric cargo bikes in sleek and innovate designs, are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global electric cargo bike market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, battery type and end user.
Breakup by Product Type:
Breakup by Battery Type:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accell Group N.V., Amsterdam Bicycle Company, Butchers & Bicycles Ltd., CERO Inc., Derby Cycle AG (Pon Holdings BV), Giant Bicycles, Mahindra & Mahindra Limited, Rad Power Bikes Inc., Riese & Müller GmbH, Worksman Cycles, Xtracycle Cargo Bikes and Yuba Bicycles.
|Base Year of the Analysis||2021|
|Segment Coverage||Product Type, Battery Type, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Accell Group N.V., Amsterdam Bicycle Company, Butchers & Bicycles Ltd., CERO Inc., Derby Cycle AG (Pon Holdings BV), Giant Bicycles, Mahindra & Mahindra Limited, Rad Power Bikes Inc., Riese & Müller GmbH, Worksman Cycles, Xtracycle Cargo Bikes and Yuba Bicycles.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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