The Electric Cargo Bikes Market Size was valued at USD 2.12 billion in 2023 and is expected to reach USD 4.95 billion by 2031 and grow at a CAGR of 11.2% over the forecast period 2024-2031.
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 Internal 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.
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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
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.
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.
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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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
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Rad Power Bikes LLC (US), Yuba Electric Cargo Bikes (US), Jiangsu Xinri E-Vehicle Co., Ltd (China), Cero Electric Cargo Bikes (US), Urban Arrow, 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.
Yuba Electric Cargo Bikes (US)-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 2.12 Billion |
| Market Size by 2031 | US$ 4.95 Billion |
| CAGR | CAGR of 11.2 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| 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 11.2% over the forecast period 2024-2031.
The Electric cargo Bikes Market expected to reach USD 4.95 billion by 2031.
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. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Electric Cargo Bikes Market Segmentation, By Product Type
9.1 Introduction
9.2 Trend Analysis
9.3 Two-wheeler
9.4 Three-wheeler
9.5 Four-wheeler
10. Electric Cargo Bikes Market Segmentation, By Battery Type
10.1 Introduction
10.2 Trend Analysis
10.3 Lithium-ion
10.4 Lead-based
10.5 Nickel-based
11. Electric Cargo Bikes Market Segmentation, By Service Provider
11.1 Introduction
11.2 Trend Analysis
11.3 Courier and Parcel Service Providers
11.4 Service Delivery
11.5 Personal Use
11.6 Waste Municipal Services
11.7 Large Retail Suppliers
11.8 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Electric Cargo Bikes Market by Country
12.2.3 North America Electric Cargo Bikes Market By Product Type
12.2.4 North America Electric Cargo Bikes Market By Battery Type
12.2.5 North America Electric Cargo Bikes Market By Service Provider
12.2.6 USA
12.2.6.1 USA Electric Cargo Bikes Market By Product Type
12.2.6.2 USA Electric Cargo Bikes Market By Battery Type
12.2.6.3 USA Electric Cargo Bikes Market By Service Provider
12.2.7 Canada
12.2.7.1 Canada Electric Cargo Bikes Market By Product Type
12.2.7.2 Canada Electric Cargo Bikes Market By Battery Type
12.2.7.3 Canada Electric Cargo Bikes Market By Service Provider
12.2.8 Mexico
12.2.8.1 Mexico Electric Cargo Bikes Market By Product Type
12.2.8.2 Mexico Electric Cargo Bikes Market By Battery Type
12.2.8.3 Mexico Electric Cargo Bikes Market By Service Provider
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Electric Cargo Bikes Market by Country
12.3.2.2 Eastern Europe Electric Cargo Bikes Market By Product Type
12.3.2.3 Eastern Europe Electric Cargo Bikes Market By Battery Type
12.3.2.4 Eastern Europe Electric Cargo Bikes Market By Service Provider
12.3.2.5 Poland
12.3.2.5.1 Poland Electric Cargo Bikes Market By Product Type
12.3.2.5.2 Poland Electric Cargo Bikes Market By Battery Type
12.3.2.5.3 Poland Electric Cargo Bikes Market By Service Provider
12.3.2.6 Romania
12.3.2.6.1 Romania Electric Cargo Bikes Market By Product Type
12.3.2.6.2 Romania Electric Cargo Bikes Market By Battery Type
12.3.2.6.4 Romania Electric Cargo Bikes Market By Service Provider
12.3.2.7 Hungary
12.3.2.7.1 Hungary Electric Cargo Bikes Market By Product Type
12.3.2.7.2 Hungary Electric Cargo Bikes Market By Battery Type
12.3.2.7.3 Hungary Electric Cargo Bikes Market By Service Provider
12.3.2.8 Turkey
12.3.2.8.1 Turkey Electric Cargo Bikes Market By Product Type
12.3.2.8.2 Turkey Electric Cargo Bikes Market By Battery Type
12.3.2.8.3 Turkey Electric Cargo Bikes Market By Service Provider
12.3.2.9 Rest of Eastern Europe
12.3.2.9.1 Rest of Eastern Europe Electric Cargo Bikes Market By Product Type
12.3.2.9.2 Rest of Eastern Europe Electric Cargo Bikes Market By Battery Type
12.3.2.9.3 Rest of Eastern Europe Electric Cargo Bikes Market By Service Provider
12.3.3 Western Europe
12.3.3.1 Western Europe Electric Cargo Bikes Market by Country
12.3.3.2 Western Europe Electric Cargo Bikes Market By Product Type
12.3.3.3 Western Europe Electric Cargo Bikes Market By Battery Type
12.3.3.4 Western Europe Electric Cargo Bikes Market By Service Provider
12.3.3.5 Germany
12.3.3.5.1 Germany Electric Cargo Bikes Market By Product Type
12.3.3.5.2 Germany Electric Cargo Bikes Market By Battery Type
12.3.3.5.3 Germany Electric Cargo Bikes Market By Service Provider
12.3.3.6 France
12.3.3.6.1 France Electric Cargo Bikes Market By Product Type
12.3.3.6.2 France Electric Cargo Bikes Market By Battery Type
12.3.3.6.3 France Electric Cargo Bikes Market By Service Provider
12.3.3.7 UK
12.3.3.7.1 UK Electric Cargo Bikes Market By Product Type
12.3.3.7.2 UK Electric Cargo Bikes Market By Battery Type
12.3.3.7.3 UK Electric Cargo Bikes Market By Service Provider
12.3.3.8 Italy
12.3.3.8.1 Italy Electric Cargo Bikes Market By Product Type
12.3.3.8.2 Italy Electric Cargo Bikes Market By Battery Type
12.3.3.8.3 Italy Electric Cargo Bikes Market By Service Provider
12.3.3.9 Spain
12.3.3.9.1 Spain Electric Cargo Bikes Market By Product Type
12.3.3.9.2 Spain Electric Cargo Bikes Market By Battery Type
12.3.3.9.3 Spain Electric Cargo Bikes Market By Service Provider
12.3.3.10 Netherlands
12.3.3.10.1 Netherlands Electric Cargo Bikes Market By Product Type
12.3.3.10.2 Netherlands Electric Cargo Bikes Market By Battery Type
12.3.3.10.3 Netherlands Electric Cargo Bikes Market By Service Provider
12.3.3.11 Switzerland
12.3.3.11.1 Switzerland Electric Cargo Bikes Market By Product Type
12.3.3.11.2 Switzerland Electric Cargo Bikes Market By Battery Type
12.3.3.11.3 Switzerland Electric Cargo Bikes Market By Service Provider
12.3.3.1.12 Austria
12.3.3.12.1 Austria Electric Cargo Bikes Market By Product Type
12.3.3.12.2 Austria Electric Cargo Bikes Market By Battery Type
12.3.3.12.3 Austria Electric Cargo Bikes Market By Service Provider
12.3.3.13 Rest of Western Europe
12.3.3.13.1 Rest of Western Europe Electric Cargo Bikes Market By Product Type
12.3.3.13.2 Rest of Western Europe Electric Cargo Bikes Market By Battery Type
12.3.3.13.3 Rest of Western Europe Electric Cargo Bikes Market By Service Provider
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Electric Cargo Bikes Market by Country
12.4.3 Asia-Pacific Electric Cargo Bikes Market By Product Type
12.4.4 Asia-Pacific Electric Cargo Bikes Market By Battery Type
12.4.5 Asia-Pacific Electric Cargo Bikes Market By Service Provider
12.4.6 China
12.4.6.1 China Electric Cargo Bikes Market By Product Type
12.4.6.2 China Electric Cargo Bikes Market By Battery Type
12.4.6.3 China Electric Cargo Bikes Market By Service Provider
12.4.7 India
12.4.7.1 India Electric Cargo Bikes Market By Product Type
12.4.7.2 India Electric Cargo Bikes Market By Battery Type
12.4.7.3 India Electric Cargo Bikes Market By Service Provider
12.4.8 Japan
12.4.8.1 Japan Electric Cargo Bikes Market By Product Type
12.4.8.2 Japan Electric Cargo Bikes Market By Battery Type
12.4.8.3 Japan Electric Cargo Bikes Market By Service Provider
12.4.9 South Korea
12.4.9.1 South Korea Electric Cargo Bikes Market By Product Type
12.4.9.2 South Korea Electric Cargo Bikes Market By Battery Type
12.4.9.3 South Korea Electric Cargo Bikes Market By Service Provider
12.4.10 Vietnam
12.4.10.1 Vietnam Electric Cargo Bikes Market By Product Type
12.4.10.2 Vietnam Electric Cargo Bikes Market By Battery Type
12.4.10.3 Vietnam Electric Cargo Bikes Market By Service Provider
12.4.11 Singapore
12.4.11.1 Singapore Electric Cargo Bikes Market By Product Type
12.4.11.2 Singapore Electric Cargo Bikes Market By Battery Type
12.4.11.3 Singapore Electric Cargo Bikes Market By Service Provider
12.4.12 Australia
12.4.12.1 Australia Electric Cargo Bikes Market By Product Type
12.4.12.2 Australia Electric Cargo Bikes Market By Battery Type
12.4.12.3 Australia Electric Cargo Bikes Market By Service Provider
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Electric Cargo Bikes Market By Product Type
12.4.13.2 Rest of Asia-Pacific Electric Cargo Bikes Market By Battery Type
12.4.13.3 Rest of Asia-Pacific Electric Cargo Bikes Market By Service Provider
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Electric Cargo Bikes Market by Country
12.5.2.2 Middle East Electric Cargo Bikes Market By Product Type
12.5.2.3 Middle East Electric Cargo Bikes Market By Battery Type
12.5.2.4 Middle East Electric Cargo Bikes Market By Service Provider
12.5.2.5 UAE
12.5.2.5.1 UAE Electric Cargo Bikes Market By Product Type
12.5.2.5.2 UAE Electric Cargo Bikes Market By Battery Type
12.5.2.5.3 UAE Electric Cargo Bikes Market By Service Provider
12.5.2.6 Egypt
12.5.2.6.1 Egypt Electric Cargo Bikes Market By Product Type
12.5.2.6.2 Egypt Electric Cargo Bikes Market By Battery Type
12.5.2.6.3 Egypt Electric Cargo Bikes Market By Service Provider
12.5.2.7 Saudi Arabia
12.5.2.7.1 Saudi Arabia Electric Cargo Bikes Market By Product Type
12.5.2.7.2 Saudi Arabia Electric Cargo Bikes Market By Battery Type
12.5.2.7.3 Saudi Arabia Electric Cargo Bikes Market By Service Provider
12.5.2.8 Qatar
12.5.2.8.1 Qatar Electric Cargo Bikes Market By Product Type
12.5.2.8.2 Qatar Electric Cargo Bikes Market By Battery Type
12.5.2.8.3 Qatar Electric Cargo Bikes Market By Service Provider
12.5.2.9 Rest of Middle East
12.5.2.9.1 Rest of Middle East Electric Cargo Bikes Market By Product Type
12.5.2.9.2 Rest of Middle East Electric Cargo Bikes Market By Battery Type
12.5.2.9.3 Rest of Middle East Electric Cargo Bikes Market By Service Provider
12.5.3 Africa
12.5.3.1 Africa Electric Cargo Bikes Market by Country
12.5.3.2 Africa Electric Cargo Bikes Market By Product Type
12.5.3.3 Africa Electric Cargo Bikes Market By Battery Type
12.5.3.4 Africa Electric Cargo Bikes Market By Service Provider
12.5.3.5 Nigeria
12.5.3.5.1 Nigeria Electric Cargo Bikes Market By Product Type
12.5.3.5.2 Nigeria Electric Cargo Bikes Market By Battery Type
12.5.3.5.3 Nigeria Electric Cargo Bikes Market By Service Provider
12.5.3.6 South Africa
12.5.3.6.1 South Africa Electric Cargo Bikes Market By Product Type
12.5.3.6.2 South Africa Electric Cargo Bikes Market By Battery Type
12.5.3.6.3 South Africa Electric Cargo Bikes Market By Service Provider
12.5.3.7 Rest of Africa
12.5.3.7.1 Rest of Africa Electric Cargo Bikes Market By Product Type
12.5.3.7.2 Rest of Africa Electric Cargo Bikes Market By Battery Type
12.5.3.7.3 Rest of Africa Electric Cargo Bikes Market By Service Provider
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Electric Cargo Bikes Market by country
12.6.3 Latin America Electric Cargo Bikes Market By Product Type
12.6.4 Latin America Electric Cargo Bikes Market By Battery Type
12.6.5 Latin America Electric Cargo Bikes Market By Service Provider
12.6.6 Brazil
12.6.6.1 Brazil Electric Cargo Bikes Market By Product Type
12.6.6.2 Brazil Electric Cargo Bikes Market By Battery Type
12.6.6.3 Brazil Electric Cargo Bikes Market By Service Provider
12.6.7 Argentina
12.6.7.1 Argentina Electric Cargo Bikes Market By Product Type
12.6.7.2 Argentina Electric Cargo Bikes Market By Battery Type
12.6.7.3 Argentina Electric Cargo Bikes Market By Service Provider
12.6.8 Colombia
12.6.8.1 Colombia Electric Cargo Bikes Market By Product Type
12.6.8.2 Colombia Electric Cargo Bikes Market By Battery Type
12.6.8.3 Colombia Electric Cargo Bikes Market By Service Provider
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Electric Cargo Bikes Market By Product Type
12.6.9.2 Rest of Latin America Electric Cargo Bikes Market By Battery Type
12.6.9.3 Rest of Latin America Electric Cargo Bikes Market By Service Provider
13. Company Profiles
13.1 Rad Power Bikes LLC
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Yuba Electric Cargo Bikes
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Jiangsu Xinri E-Vehicle Co., Ltd
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Cero Electric Cargo Bikes
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Urban Arrow
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Douze Factory SAS
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Xtracycle
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Worksman Cycles
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Riese & Müller GmbH
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Butchers & Bicycles
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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