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The Business Research Company’s Electric Cargo Bike Global Market Report 2024 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, October 16, 2024 /EINPresswire.com/ — The electric cargo bike market has experienced rapid growth, rising from $1.69 billion in 2023 to $1.88 billion in 2024, with a CAGR of 11.8%. This expansion is fueled by growing environmental awareness, increased investments in fuel-efficient products, infrastructure development, urban congestion, and advancements in the e-mobility sector.
What Is The Estimated Market Size Of The Global Electric Cargo Bike Market And Its Annual Growth Rate?
The electric cargo bike market is expected to expand rapidly, reaching $2.95 billion by 2028, with a CAGR of 11.9%. Growth will be driven by health and fitness trends, consumer awareness, improved battery life, and enhanced safety features. Major trends include e-commerce growth, bike-sharing programs, infrastructure development, and corporate sustainability initiatives.
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Growth Driver of The Electric Cargo Bike Market
The expansion of e-commerce is expected to drive the electric cargo bike market. E-commerce growth, fueled by the convenience of online shopping and increased internet access, has led to the use of electric cargo bikes for eco-friendly, last-mile delivery in urban areas.
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Which Market Players Are Driving The Electric Cargo Bike Market Growth?
Major companies operating in the electric cargo bike market are Pon Holdings B.V., Giant Manufacturing Co. Ltd., Rad Power Bikes Inc., Accell Group N.V., Derby Cycle Werke GmbH, Brompton Bicycle Ltd., Riese & Müller GmbH, Pedego Electric Bikes LLC, Tern Bicycles Pte. Ltd., Worksman Cycles Inc., Urban Arrow B.V., Hero Cycles Ltd., Triobike ApS, Royal Dutch Gazelle, Babboe B.V., Kleuster B.V., Winora Group GmbH, Amsterdam Bicycle Company B.V., Benno Bikes Inc., Bunch Bikes Inc., Butchers & Bicycles ApS, Christiania Bikes ApS, Surly Bikes, Xtracycle Inc., Yuba Bicycles LLC
What Are The Emerging Trends Shaping The Electric Cargo Bike Market Size?
Major players in the electric cargo bike market are concentrating on the development of advanced products featuring extended rear sections and adaptable racks to boost cargo capacity and versatility. Extended rear sections are longer back ends designed for transporting heavier loads, while adaptable racks refer to adjustable or multifunctional cargo platforms for better handling of cargo.
How Is The Global Electric Cargo Bike Market Segmented?
1) By Product: Two-Wheeled, Three-Wheeled, Four-Wheeled
2) By Battery Type: Li-Ion, Lead Based, Nickel Based
3) By Range: Less Than 50 Km, More Than 50 Km
4) By End Use: Courier And Parcel Service Providers, Large Retail Suppliers, Personal Transportation, Service Delivery, Waste, Municipal Services
Geographical Insights: Europe Leading The Electric Cargo Bike Market
Europe was the largest region in the electric cargo bike market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric cargo bike market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Electric Cargo Bike Market Definition
An electric cargo bike is a bicycle outfitted with an electric motor that assists with pedaling, designed to transport heavy loads or multiple passengers. It typically features a robust frame, ample cargo capacity, and often comes with additional storage solutions, making it well-suited for urban deliveries and environmentally friendly transportation of goods and people.
Electric Cargo Bike Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global electric cargo bike market report covering trends, opportunities, strategies, and more
The Electric Cargo Bike Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on electric cargo bike market size, drivers and trends, electric cargo bike market major players, competitors’ revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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