The electric cargo bike market is estimated to progress at a high-value CAGR of 11.9% and reach a valuation of US$ 2.14 Bn by the end of 2032.
Electric cargo bikes are the pinnacle of bicycles designed to carry luggage, or, in some circumstances, people. With the rapid rise of e-Commerce, logistical flows are fast expanding, posing a huge problem for local governments. Sustainable urban logistics development is becoming increasingly vital for the quality of life of city people. Also, stringent government norms to reduce environmental pollution and solve two major problems—congestion and poor air quality – are critical to the success of electric cargo bikes. The use of these bikes as a mode of transportation for at least part of a city’s freight flow has a favorable impact on both issues, forcing market players to invest more in their manufacturing facilities.
To remain ‘ahead’ of your competitors, request for a samples@ https://www.persistencemarketresearch.com/samples/25447
An electric cargo bike with lightweight construction and a stunning appearance offers a remarkably smooth and stable ride. A battery and electric motor make it considerably simpler to operate the bike. It is anticipated that as consumer preference for electric bikes changes and new technologies are introduced, the market will grow at a fast pace.
Key Takeaways from Market Study
- By product type, two-wheeled electric cargo bikes are projected to hold a market share of more than 57% on a volume basis by 2032.
- The lithium-ion battery segment is expected to hold the largest market share of 82%.
- By end use, courier and parcel service providers are estimated to create an absolute $ opportunity worth US$ 770.3 Mn between 2022 and 2032.
- The market in Europe is projected to expand at a volume CAGR of 13.3% through the forecast period.
“Conventional bikes require a lot of paddle force to propel and transport cargo from one station or place to another. Therefore, the future potential of electric cargo bikes is projected to be positive across the world as these bikes are the perfect alternative to manual paddle-operated cargo bikes,” says a Persistence Market Research analyst.
Market Landscape
The global electric cargo bike market is moderately consolidated among tier i, tier ii, and tier lll players. Leading players account for 60% to 70% share of the market on a value basis.
Some of the key players included in the report are Accell Group N.V. (Carqon), Jinhua Jobo Technology Co., Ltd., BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Mobility Holdings, Ltd. (Tern Bicycles), Riese & Müller GmbH, Urban Arrow, Worksman Cycles, Yuba Electric Cargo Bikes, and Rad Power Bikes Inc..
Key market players are concentrating on research and innovation to develop better bikes and expand their market reach.
For critical insights on this market, request for customization here @ https://www.persistencemarketresearch.com/request-customization/25447
Want to Know More?
Persistence Market Research, a research and consulting firm, has published a revised market research report on the electric cargo bike market that contains a global industry analysis of 2017–2021 and an opportunity assessment for 2022–2032. The report provides in-depth analysis of the market through different segments, namely, product type, battery type, end use, and region.
Electric Cargo Bike Industry Survey by Category
By Product Type:
- Two-wheeled Bikes
- Three-wheeled Bikes
- Four-wheeled Bikes
By Battery Type:
- Lead-based
- Nickel-based
- Lithium-ion
By End Use:
- Courier & Parcel Service Providers
- Large Retail Suppliers
- Personal Transportation
- Service Delivery
- Waste, Municipal Services
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Buy Full Report Now and Get Up to 20% Discount @ https://www.persistencemarketresearch.com/checkout/25447
About Persistence Market Research – Automotive and Transportation
The Automotive and Transportation division of Persistence Market Research provides exclusive coverage and actionable insights about the automotive and transportation industry encompassing the automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services, and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners, and service providers in making informed decisions and keeping them up-to-date with market behavior.
We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
About us: –
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Contact Us:
Persistence market research
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – [email protected]
Germany Office:
Persistence Market Research
Potsdamer Platz 10 Haus 2, 5th Floor Berlin,
Germany 10785
Call +1 888-863-4084