The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
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., Kalkhoff Werke GmbH, 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., Kalkhoff Werke GmbH, 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
Five User License: US$ 3499
Corporate License: US$ 4499
|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)|
We expect the global electric cargo bike market to exhibit a CAGR of 12.17% during 2022-2027.
The rising environmental concerns, along with the increasing demand for eco-friendly and cost-effective urban commute options, such as electric cargo bike, are primarily driving the global electric cargo bike market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous manufacturing units and demand fluctuations for electric cargo bikes.
Based on the product type, the global electric cargo bike market can be segmented into two-wheeler, three-wheeler, and four-wheeler. Currently, two-wheeler holds the majority of the total market share.
Based on the battery type, the global electric cargo bike market has been divided into lithium-ion, lead-based, and nickel-based. Among these, lithium-ion currently exhibits a clear dominance in the market.
Based on the end user, the global electric cargo bike market can be categorized into courier and parcel service providers, service delivery, personal use, large retail suppliers, waste municipal services, and others. Currently, courier and parcel service providers account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global electric cargo bike market include Accell Group N.V., Amsterdam Bicycle Company, Butchers & Bicycles Ltd., CERO Inc., Kalkhoff Werke GmbH, Giant Bicycles, Mahindra & Mahindra Limited, Rad Power Bikes Inc., Riese & Müller GmbH, Worksman Cycles, Xtracycle Cargo Bikes, and Yuba Bicycles.
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )
Drop us an email at