Electric Cargo Bikes Market

Global Electric Cargo Bikes Market is valued at USD 1,455.80 Million in 2021 and expected to reach USD 9,898.77 Million by 2028 with a CAGR of 31.5% over the forecast period.

Global Electric Cargo Bikes Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: The widespread  rise in vehicle electrification trends has been bolstering the electric freight bike industry share. Besides, growing sustainability concerns, surging fuel costs, and increased consumer consciousness are some of the driving factors driving the electric cargo bike industry development.

Scope of Global Electric Cargo Bikes Market

Electric cargo bikes were cargo-carrying bikes that operate on batteries. They allow the user to move big things that are hard to convey by human power. Such bikes are lightweight and have a streamlined design, making them much more stable and smoother. Furthermore, electric cargo bikes are environmentally benign, since they have a set speed restriction that protects the cargo from harm. They have lower operating costs and can move quicker in cities, making them the greatest option for short-term freight delivery vehicles. Lower operating expenses and quicker delivery with new technical improvements are some of the primary reasons fueling industry growth. Additionally, the rising use of electric cargo bikes for private usage is likely to considerably fuel market development.

COVID-19 had an impact on the electrical freight bike business in both negative and positive directions. In contrast, lockdown regulations had a substantial influence on the distribution chain. Lockdowns imposed in several nations have had a detrimental impact on the marketplace. Manufacturing constraints and transportation-related inefficiencies imposed by travel limitations have created challenges. Many firms were forced to reduce output. Growing e-commerce and meal delivery companies throughout the globe, on the other side, boosted industry growth. Considering the difficulties, economies are slowly rebounding from the outbreak. The company's operations have started to develop as marketing and procurement networks are rebuilt.

The global Electric Cargo Bikes market is segmented based on the product, battery, end-use, and region & country level. Based on product, the global Electric Cargo Bikes market is segmented into Two Wheeled, Three Wheeled, Four Wheeled. By battery, the market is segmented into Nickel Based, Lead Based, and Lithium Ion. By end-user, the global Electric Cargo Bikes market is segmented into Service Delivery, Courier and Parcel Service Providers, Large Retail Suppliers, Personal Use, Waste Municipal Services, Others.

The regions covered in the global Electric Cargo Bikes market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Electric Cargo Bikes is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Global Electric Cargo Bikes Market Segmentation

By Product:

• Two Wheeled
• Three Wheeled
• Four Wheeled

By Battery:

• Nickel Based
• Lead Based
• Lithium Ion

By End-User:

• Service Delivery
• Courier and Parcel Service Providers
• Large Retail Suppliers
• Personal Use
• Waste Municipal Services
• Others

Key Players of Global Electric Cargo Bikes Market

Some major key players for the global Electric Cargo Bikes market report cover prominent players like

• JIANGSU XINRI E-VEHICLE CO
• Accell Group
• AIMA TECHNOLOGY CO
• WUXI YADEA EXPORT-IMPORT CO
• Kawasaki Motors Corp
• Derby Cycle
• Giant Bicycles
• ITALJET SPA
• myStromer AG
• Trek Bicycle Corporation
• Riese & Müller GmbH
• Karbon Kinetics Ltd
• M1-Sporttechnik
• Solex Cycle North America Inc.
• F.I.V. E. Bianchi S.p.A., U.S.A.
• Specialized Bicycle Components, Inc.

News

Smoor Super Cargo E-Bike Launches With A Range Of 110 Km And A Payload Of 200 Kg.

On August 8^th, 2022; the Smoor Super Cargo electrical bicyclewas launched in Germany . The vehicle can accompany passengers for up to 110 km (68 miles) on a single battery charge and has a peak speed of 25 kph (16 mph). The e-bike has front and rear racks, allowing for a maximum weight of 200 kg (441 lbs).

Amazon Launched Freight Bike And On-Foot Shipments In London In An Effort To Reduce Carbon Emissions.

On July 4^th, 2022; Amazon announced the debut of its inaugural series of electric cargo bikes, as well as a team of on-foot delivery personnel, to replace thousands of conventional van travels on London's crowded roads, a record for the delivery behemoth in the UK. The initiative is part of Amazon's commitment to provide half of its deliveries with net-zero carbon footprints by 2030 and every one of them by 2040, ten decades advance of the Paris Agreement's environmental neutrality objective.

Lyon and LEAD Test Electric Cargo Bikes For Last-Mile Deliveries.

On April 26^th, 2022; Lyon's City and Métropole announced their plans of  evaluating an unique structure in the Marché-Gare parking garage. The activities are being carried out as elements of the CIVITAS project LEAD, with the cooperation of Lyon Confluence, Lyon Park Auto, and IRT System X. The objective is to rethink last-mile operations by decreasing the delivery sector's carbon impact to the greatest extent possible while also minimising noise pollution. The current experiments will take up 88 parking spots in the LPA Marché Gare Park at Lyon Confluence from April 2022 until May 2023.

Increasing Demand For E-commerce Deliveries, Rising Government Initiatives, and Growing Research and Development are Some of the Major Factors Driving the Market Growth

One of the primary reasons driving the development of the electric cargo bike industry is the global increase in transportation. The increased desire for electric cars, as well as the increased need to reduce fuel consumption, due to the heavy usage of petroleum materials as energy in the automotive industry, drive market expansion. Increased government measures to promote the adoption of substitutes including electric cargo bikes, as well as the growing attractiveness of cargo bikes since they are significantly more fuel efficient than traditional cargo bikes, all have an impact on the market. Furthermore, the growth of e-commerce platforms increased the desire for low-emission transportation options, and a boom in electric vehicle sales all benefit the electric cargo bike industry.

Throughout the projected timeline, the industry is expected to be driven by an increase in government measures to stimulate the production and sale of electric vehicles. The e-cargo bike industry is expected to attract participants due to substantial government assistance in terms of both legislation and funding. Tax discounts and buying premiums make cycling accessible to broad segments of the population who formerly relied on automobiles, including not just commuters and seniors who utilize an electrical bicycle, but also households and small companies that may now use electric bicycles for transportation. Amazon Inc. said in 2021 that it was expanding its usage of electric cargo bikes for last-mile delivery. This decision represents a big change in the transportation and logistics business, as other firms will be looking for ways to select and deliver products to clients quicker in a highly populated metropolis.

Furthermore, increased research and development, as well as new product introductions of technically improved cargo bikes, such as enhanced battery last of rechargeable electric bikes, are driving up demand. Aberdeen City Government, for example, deployed hydrogen-powered freight bikes in February 2021. The council intended to reduce emissions produced by gasoline or diesel-powered freight motorcycles. This hydrogen-powered cargo bicycle will be created as part of the Fuel Cell Cargo Pedelecs European initiative. A proposal for six e-cargo bicycles to be upgraded with hydrogen fuel cell components has been posted on Public Contracts Scotland as part of this initiative.

Europe is Expected to Capture a Major Share in the Global Electric Cargo Bikes Market

In terms of revenue, Europe holds the majority of the worldwide electric cargo bike market over the projected timeframe. The initial acceptance of electrical cargo bikes for end use is largely increasing the value of the geographical marketplace. The region's continuing expenditure in the research and implementation of innovative eco-transportation technologies to satisfy its sustainable developmental objectives is increasing the attractiveness of the market sector. Based on the European Cyclclogists project, there are already 174 cargo bike versions available, with roughly fifty firms fighting for attention in Berlin. Moreover, Amazon (an online retailer) has begun employing cargo bikes for delivery in key European nations.

North America is expected to grow at a considerable pace over the forecast period. The area boasts a large number of cargo bike producers that are increasing their efforts to create new models. Public approval of the product and rising demand for low-cost, low-emission transportation will complement the regional industrial picture. Electrical cargo bikes are being used by governments and private industrial enterprises in the United States and Canada to reduce pollution. For example, the City of Toronto will join a 5-year Ontario trial program to introduce bigger freight e-bikes in December 2021. Canada's goal is to reduce greenhouse gas pollution while also accelerating local delivery.

By Regional & Country Level:

North America

• U.S
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 1,455.80 Million
Base year considered	2021
Forecast Period CAGR %:	31.5%
Market Size Expected in 2028:	USD 9,898.77 Million
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	JIANGSU XINRI E-VEHICLE CO., LTD., Accell Group, AIMA TECHNOLOGY CO., LTD, WUXI YADEA EXPORT-IMPORT CO.,LTD., Kawasaki Motors Corp., Derby Cycle, Giant Bicycles, ITALJET SPA, myStromer AG, Trek Bicycle Corporation, Riese & Müller GmbH, Karbon Kinetics Ltd, M1-Sporttechnik, Solex Cycle North America Inc., F.I.V. E. Bianchi S.p.A., U.S.A., and Specialized Bicycle Components
Segments Covered	By Product, By Battery, By End-User.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa