Top Companies in Electric Cargo Bike Market

Top Companies in Electric Cargo Bike Market

The global electric cargo bike market size reached US$ 2.1 Billion in 2023. An electric cargo bike is a battery-operated lightweight bicycle that enables riders to transport heavy consumer goods. It is faster, more eco-friendly, and versatile, has a sleeker design, and provides superior stability to traditional two-wheelers. Along with this, it is compact, lightweight, portable, offers a smooth riding experience, and has a lower ecological and economic impact. Based on these properties, electric cargo bikes find extensive applications in urban areas for delivering packaged goods over short distances. 

As per the analysis by IMARC Group, the top companies in the global electric cargo bike industry are introducing lightweight and low-maintenance product variants with high load-carrying capacity and improved overall performance at cost-effective prices. In line with this, increasing environmental concerns, coupled with the implementation of green initiatives by governments, have promoted automobile manufacturers to launch eco-friendly automobiles, such as electric cargo bikes, to reduce carbon emissions and noise pollution, which is acting as another growth-inducing factor. Additionally, rapid growth in the automotive industry has encouraged leading players to fabricate electric cargo bikes with tilting systems to provide smooth, responsive, and agile rides while carrying goods, which is supporting market growth.  Moreover, the incorporation of lithium-Ion (Li-Ion) batteries in electric cargo bikes, owing to their multiple benefits, such as better voltage capacity, longer charge retention, and lower self-charge, is contributing to the market growth. Other factors, including escalating deployment of digital technologies by key players to optimize the product manufacturing potential and ongoing research and development (R&D) activities to enhance product efficacy and traveling range, are creating a positive outlook for the market. Looking forward, IMARC Group expects the market to reach US$ 5.0 Billion by 2032, exhibiting a growth rate (CAGR) of 10.09% during 2024-2032.

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List of Top Electric Cargo Bike Companies in the World

Accell Group N.V.

Establishment: 1998
Headquarters: Heerenveen, Netherlands

Accell Group N.V. is a holding company that deals with the designing, developing, manufacturing, marketing, and selling of bicycles and integral accessories. The company’s portfolio encompasses various prominent bicycle brands, including:

  • Winora
  • Sparta
  • Ghost Batavus
  • Koga
  • Lapierre
  • Raleigh
  • Haibike
  • Carbon

Additionally, they also sell bicycle parts under the brand name XCL. Amongst these, Sparta was established in 1917, which pioneered the Dutch electric bicycle market on the e-innovation front and the e-bike development by using the Internet of Things (IoT). The organization has set up its production facilities across the Netherlands, France, Germany, the United States (US), the United Kingdom (UK), and Finland. Along with this, the company mainly operates in Europe, Turkey, and North America.

Amsterdam Bicycle Company

Establishment: 2017
Headquarters: Delaware, United States

Amsterdam Bicycle Company is one of the leading private for-profit organizations that export high-quality handmade Dutch bicycles, freight, and cargo bikes. Their products are specially designed by combining professional engineering, the latest technology, and advanced components. Currently, their offerings have been classified into bicycles, accessories, e-bikes, cargo, and e-cargo bikes. Amongst these,  e-cargo bikes are commercially available in varying colors and sizes, including long, wide, narrow, and compact.

Butchers & Bicycles Ltd.

Establishment: 2013
Headquarters: Denmark

Butchers & Bicycles is recognized as a private Danish Bicycle manufacturing brand, which was founded in 2010 but started its operations in 2013. The company is known for designing, developing, producing, and distributing sustainable quality products. Their services are primarily bifurcated into accessories and MK1-E Gen e-cargo bikes, which are further available in two distinct models, such as Automatic and Vario.


Establishment: 2010
Headquarters: Barcelona

Cero Inc. is an eminent industrial machinery manufacturing organization. They are known for merging, engineering, simulating, composing, and testing designs of multiple products. Their organization mainly emphasizes the utilization of new composite materials, prototyping, and manufacturing technologies. They include KTM plastic parts, Tracer, KTM, Jota Gas, and GG enduro bikes as their standard products under 2-wheelers projects. At present, the company is currently working on the UNNO bike project to improve the product's structural properties and attain desired surface finishing.

Derby Cycle AG (Pon Holdings BV)

Establishment: 1980
Headquarters: Cloppenburgh, Germany

Derby Cycle AG was acquired by Pon Holdings BV In 2011. Derby Cycle Werke GmbH has been renamed as Kalkhoff Werke GmbH. Additionally, Derby Cycle Holding GmbH is now retitled as FOCUS & Kalkhoff Holding GmbH. The company is a leading bicycle manufacturing brand that includes:

  • E-cargo bikes
  • E-trekking bikes

At present, they comprise Kalkhoff Entice 5.B Move, Endeavor 5.B Move, and Image 5.B and Advance as some of the e-bike products.

Giant Bicycles

Establishment: 1972
Headquarters: Taichung City, Taiwan

Giant Bicycles manufactures high-quality cycling gear and bicycles that combine craftsmanship, technology, and innovative designs. The brand deals with engineering, designing, manufacturing, supply chain management, retailing, and sales marketing operations. Apart from this, they offer sporting goods, bicycle sharing systems, gears, bicycles, and IBD as specialized services. Additionally, the company also manufactures and distributes e-bikes in varying categories ranging from adventure, trekking, and trail. Along with this, their e-bikes are commercially available in different wheel sizes, frame materials, and suspension, battery, and seat post types.

Mahindra & Mahindra Limited

Establishment: 1945
Headquarters: Mumbai, India

Mahindra & Mahindra Limited is a leading Indian multinational motor vehicle manufacturing cooperation. The company has established its strong presence across the agribusiness, aerospace, components, information technology (IT), defense, logistics, real estate, commercial vehicles, and two-wheelers industries. Apart from this, their diverse product portfolio includes premium luxury UVs, sedans, medium or heavy commercial automobiles, and three-wheelers. Within the two-wheelers category, the company comprises Duro DZ, Rodeo UZO 125, Gusto 110, Mojo, Centuro Rockstar, and GenZe electric bikes and scooters.

Rad Power Bikes Inc.

Establishment: 2007
Headquarters: Washington, United States

Rad Power Bikes Inc. is North America’s largest electric sporting bike manufacturing brand, which follows a direct-to-consumer model. They deal with the composition, on-demand assembly, supply, and maintenance of various services, accessories, and e-bikes globally. Their e-bike products are further commercially segmented into off-road, cargo and utility, city commuter, step-thru, high-step, and folding types.

Riese & Müller GmbH

Establishment: 1993
Headquarters: Darmstadt, Germany

Riese & Muller GmbH is a premium German e-bike manufacturing organization. The company's e-bikes are mainly available in the fat tire, cargo, folding, and city bike categories. Under these groups, they sell the Birdy, Charger4 Mixte, Cruiser, Delite Mountain, Homage, Load4 60, Nevo, Multicharger, and Roadster models. These products can be further customized into varying colors to meet consumer preferences.

Worksman Cycles

Establishment: 1898
Headquarters: Ozone Park, New York

Worksman Cycles makes heavy-duty bicycles and tricycles to cater to various consumer needs. The company offers product support, vending, accessories and specialty, recreation, and industrial bicycles as common services. It comprises electric tricycles and trikes as major products, which are manufactured from multiple domestic components in a South Carolina factory.

Xtracycle Cargo Bikes

Establishment: 1998
Headquarters: Oakland, California

Xtracycle Cargo Bikes is prominently known for manufacturing high-quality, well-structured cargo bikes. Their services are broadly bifurcated into accessories and electric bikes. Amongst these, accessories include kits, super hooks, recycled car decks, snack bars, halfhooptie, mixseat, and brand merch as common products. On the other hand, the company comprises a range of electric bikes, including swoop, RFA, and stoker as some of the standard vehicles.

Yuba Bicycles

Establishment: 2006
Headquarters: California, United States

Yuba Bicycles is a leading sporting goods manufacturing company that specializes in longtail cargo bikes. Currently, their e-bike product portfolio includes Mundo, Boda Boda, Spicy Curry, Supercargo, and Kombi 5. Apart from this, the company offers adjustable monkey bars, mini soft spots, bread baskets, hold on bars, go-getter bags, and bamboo deck kombi as standard add-ons to provide optimal convenience to users.


About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the global electric cargo bike industry, which has enabled clients to set up and expand their businesses successfully.

Some of the company's offerings include:

  • Market Research
  • Plant setup
  • Plant Expansion
  • Marketing and sales
  • Procurement and Distribution
  • Innovation and Product Development

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