According to MRFR analysis, the global E-Cargo Bikes Market is expected to register a CAGR of ~20% from 2022 to 2030 and hold a value of over USD 6.0914 billion by 2030.
E-Cargo Bikes are bikes that are equipped with an electric motor and a cargo area, such as a box or basket, for carrying goods and supplies. They are designed to be used for light freight and delivery tasks, such as transporting groceries or packages, and are seen as a more sustainable alternative to traditional delivery vehicles. The COVID-19 pandemic has had a significant impact on the electric cargo bike market.
With more people shopping online and avoiding public transportation, there has been an increased demand for delivery services, including those provided by E-Cargo Bikes. Additionally, with lockdowns and social distancing measures reducing the number of people shopping in person, there has been an increased demand for delivery services that are contact-free and can help people avoid crowded indoor spaces. As a result, the electric cargo bike market has seen significant growth during the pandemic.
The Asia-Pacific region has a large and growing market for E-Cargo Bikes, and it is one of the most important regions globally for this market. The region has a large and growing population of urban consumers, as well as a thriving e-commerce industry, both of which have driven demand for E-Cargo Bikes. Additionally, the region’s rapidly developing economies and improving infrastructure have made E-Cargo Bikes more accessible and popular, further boosting demand for these vehicles.
The Global E-Cargo Bikes Market has been segmented into type, battery type, and end-use.
Based on the type, the market has been segmented into two-wheelers, three-wheelers, and Four-Wheeler.
Based on the battery type, the market has been segmented into Lithium-Ion, Lead-Based, and Nickel-Based.
Based on the end user, the market has been segmented into Courier & Parcel Service Providers, Service Delivery, Personal Use/ Transportation, Large Retail suppliers, Waste Municipal Services, and others.
Some of the key market players are Rad Power Bikes LLC, Jiangsu Xinri E-Vehicle Co., Ltd, Cero E-Cargo Bikes, Yuba E-Cargo Bikes, Kocass Technology Co., Ltd, Douze Factory SAS and Xtracycle, Worksman Cycles, Riese & Müller GmbH and Butchers & Bicycles.