Report Scope & Overview:
Electric Cargo Bikes Market Size was valued at USD 1.78 billion in 2022 and is expected to reach USD 6.34 billion by 2030 and grow at a CAGR of 17.2% over the forecast period 2023-2030.
Electric cargo bikes are the ultimate sort of bicycles developed to carry luggage, or sometimes, people. Electric cargo bikes allow the rider to carry huge heavy things, which would be impossible to move without electric power supplementing the human power input. Therefore, to reduce detrimental ecological, social, and economic repercussions, a mode-shift from combustion engine vehicles to electric cargo bikes has been suggested. Electric cargo bike with lightweight construction and a stylish appearance offers an amazingly smooth and steady ride. In addition, with the assistance of a battery and electric motor, an electric cargo bike is considerably easier to run.
In October of 2021, Nexzu introduced its new Roadlark line of electric cargo bicycles to Indian consumers. The bikes are scheduled to be offered for Rs 42,000. The bike has a carrying capacity of 50 kilograms and a top speed of 25 kilometers per hour.
MARKET DYNAMICS:
KEY DRIVERS:
Growth in demand for electric vehicles around the world is a result of technological improvements.
The need for electric cargo bikes may rise as a result of the growing popularity of electric automobiles.
RESTRAINTS:
Demand for electric cargo bikes is predicted to be deterred by their high price and battery size.
Cargo bikes have lower operating costs.
An absence of infrastructure that has been modified
OPPORTUNITIES:
Increasing e-commerce platforms are also projected to stimulate the sector.
The demand in this market is also fueled by new breakthroughs that have taken place.
CHALLENGES:
Electric cargo bike sales are hampered by a scarcity of safe parking and repair services.
Lack of regulations and a lack of efficient transportation infrastructure.
IMPACT OF COVID-19:
As a result of the widespread COVID-19 outbreak around the world, the market for electric freight bikes has experienced significant disruption. The fact that governments offer a variety of subsidies and tax reductions on e-bikes is one of the factors that is anticipated to assist the growth of the industry during the projected time period. The slowdown in both traffic and overall mobility has had a negative impact on the expansion of the market for electric freight bikes. The lack of demand for electric freight bikes might be attributed to the lockdown as well as the sluggish manufacture of autos. In the scenario described by COVID-19, actors in the industry are responding constructively in order to cope up with demand and supply. The COVID-19 outbreak has had a significant impact on the market for electric freight bikes by resulting in decreased manufacturing.
KEY MARKET PLAYERS:
Rad Power Bikes LLC (US), Yuba Electric Cargo Bikes (US), Jiangsu Xinri E-Vehicle Co., Ltd (China), Cero Electric Cargo Bikes (US), Kocass Technology Co., Ltd. (China), Douze Factory SAS(France), Xtracycle (US), Worksman Cycles (US), Riese & Müller GmbH (Germany) and Butchers & Bicycles (Denmark) are some of the affluent competitors with significant market share in the Electric Cargo Bikes Market.
MARKET ESTIMATION:
Market, By Product Type:
Based on the product type segment, the global market has been divided into Two-wheeler, Three-wheeler, and four-wheelers. In terms of product type, two-wheelers are anticipated to be the most popular. In terms of electric cargo bikes, self-balancing bikes are the most frequent and can travel 120 km on a single battery charge, depending on the weight they're carrying. The weight capacity of these bikes is normally around 100 km, making them suitable for a wide range of applications, from the residential to the industrial.
Market, By Battery Type:
The global market has been divided into Lithium-ion, Lead-based, and Nickel-based based on the battery type segment. It is expected that lithium-ion batteries would soon take over the battery market. Because of their small size, low cost, and great energy density, batteries are frequently used in electronic devices. In addition, li-ion batteries play a critical role in comparison to the other two battery types due to their superior power efficiency and rechargeability.
Market, By Service Provider:
The global market has been divided into Courier and Parcel Service Providers, Service Delivery, Personal Use, Waste Municipal Services, Large Retail Suppliers, and Others based on the service provider segment. It is expected that the courier and package delivery service providers sector would become an end-user monopoly. In this location, electric cargo bikes are used for sorting shipments, picking up messengers, and transporting packages to the next depot. After that, they're distributed to their intended recipients.
MARKET SEGMENTATION:
By Product Type:
Two-wheeler
Three-wheeler
Four-wheeler
By Battery Type:
Lithium-ion
Lead-based
Nickel-based
By End-use:
Courier and Parcel Service Providers
Service Delivery
Personal Use
Waste Municipal Services
Large Retail Suppliers
Others
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REGIONAL ANALYSIS:
The market for electric cargo bikes can be broken down into four different regions: Europe, Asia-Pacific, North America, and the rest of the world. Asia-Pacific has the third-largest market share for electric cargo bikes in the world in 2018, trailing only Europe and North America. The Asia-Pacific area came in second place when measured as a proportion of total sales made worldwide. The country has experienced significant expansion as a result of significant investments made in electric cargo bikes by vital companies in the region as well as the development of more advanced electric cargo bikes. It is anticipated that investment in the creation of infrastructure will stimulate the electric cargo bike business in countries like China, India, Japan, and Singapore, all of which have taken adequate efforts to establish charging stations. As original equipment manufacturers (OEMs) of electric freight motorcycles collaborate with alternative technology suppliers, it is anticipated that this market will continue to expand.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 1.78 Billion |
| Market Size by 2030 | US$ 6.34 Billion |
| CAGR | CAGR of 17.23.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Product Type (Two-wheeler, Three-wheeler, Four-wheeler) • by Battery Type (Lithium-ion, Lead-based, Nickel-based) • by End-use (Courier and Parcel Service Providers, Service Delivery, Personal Use, Waste Municipal Services, Large Retail Suppliers, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Rad Power Bikes LLC (US), Yuba Electric Cargo Bikes (US), Jiangsu Xinri E-Vehicle Co., Ltd (China), Cero Electric Cargo Bikes (US), Kocass Technology Co., Ltd. (China), Douze Factory SAS(France), Xtracycle (US), Worksman Cycles (US), Riese & Müller GmbH (Germany) and Butchers & Bicycles (Denmark) |
| Key Drivers | •Growth in demand for electric vehicles around the world is a result of technological improvements. •The need for electric cargo bikes may rise as a result of the growing popularity of electric automobiles. |
| RESTRAINTS | •Demand for electric cargo bikes is predicted to be deterred by their high price and battery size. •Cargo bikes have lower operating costs. |
The growth rate of the Electric Cargo Bikes Market is a CAGR of 17.2% over the forecast period 2023-2030.
The Electric cargo Bikes Market expected to reach USD 6.34 billion by 2030.
Electric cargo bikes are the ultimate sort of bicycles developed to carry luggage, or sometimes, people. Electric cargo bikes allow the rider to carry huge heavy things, which would be impossible to move without electric power supplementing the human power input.
Europe region is dominating the Electric cargo Bikes Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Electric Cargo Bikes Market Segmentation, By Product Type
8.1 Two-wheeler
8.2 Three-wheeler
8.3 Four-wheeler
9. Global Electric Cargo Bikes Market Segmentation, By Battery Type
9.1 Lithium-ion
9.2 Lead-based
9.3 Nickel-based
10. Global Electric Cargo Bikes Market Segmentation, By End-use
10.1 Courier and Parcel Service Providers
10.2 Service Delivery
10.3 Personal Use
10.4 Large Retail Suppliers
10.5 Waste Municipal Services
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Accell Group N.V.,
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Rad Power Bikes LLC (US)
12.3 Yuba Electric Cargo Bikes (US)
12.4 Jiangsu Xinri E-Vehicle Co. Ltd(China)
12.5 Worksman Cycles(US)
12.6 Cero Electric Cargo Bikes(US)
12.7 Kocass Technology Co., Ltd.(China)
12.8 Douze Factory SAS(France)
12.9 Xtracycle(US)
12.10 Riese & Müller GmbH(Germany)
12.11 Butchers & Bicycles(Denmark)
12.12 Nexzu
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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