Dublin, April 17, 2023 (GLOBE NEWSWIRE) -- The "Global Electric Cargo Bikes Market - Market Size & Forecast to 2032" report has been added to ResearchAndMarkets.com's offering.
The global electric cargo bikes market is estimated to be worth of USD 2.39 billion in 2023 and is growing at a CAGR of 32.78% during the forecast period from 2023 to 2032.
The electric cargo bikes market research report discusses the importance of the segments as well as the regional markets. An accurate overview for different segments and regions has been prepared on the basis of the market size as well as the growth rate (CAGR). The market research offers a growth map of the global electric cargo bikes market to help clients design the required strategies to meet their business goals.
Electric cargo bikes are the kind of bikes used for hauling cargo that are powered by batteries. They enable the user to move big objects that are challenging to move manually. These bikes are lightweight and have a streamlined design, which increases their stability and smoothness.
Moreover, electric cargo bikes are environmentally sustainable, have a set speed restriction, and protect the goods from harm. They are the greatest solution for short-term goods delivery vehicles since they have lower operating costs and can move more quickly through urban areas.
Manufacturers and governments are supporting the use of alternatives like electric cargo bikes, which are significantly more fuel-efficient than traditional cargo bikes, in an effort to lower this global consumption. As cities struggle with traffic congestion that causes noise and air pollution, the electric cargo bike and bicycle logistics sectors are emerging as a useful, sustainable, non-congested, and inclusive alternative for first- and last-mile deliveries, general logistical service provision, and family vehicles.
Some of the key drivers boosting the market's expansion are the new technology developments' lower operating costs and quicker delivery times. Also, it is anticipated that greater personal adoption of electric cargo bikes would considerably fuel market growth. However, some of the obstacles, such as the absence of adaptable infrastructure, repair facilities, and safe parking, are anticipated to restrain market expansion.
With many companies competing everywhere, the market for electric cargo bikes is fairly competitive on a global scale. Leading players are expanding their businesses and securing a bigger share of the market. Throughout the anticipated term, market players are expected to increase their geographic reach through acquisitions. Improvements in the global economy and the growing automotive industry in emerging economies are expected to fuel market expansion and motivate companies to provide new products in various regions.
Europe will continue to be one of the most alluring markets for electric cargo bikes during the forecast period. Germany is anticipated to dominate the European market during the projection period, according to the study. For each cargo bike with a weight (cargo and rider) of at least 150 kg and a 1 m3 capacity, the German Federal Government provides a subsidy.
Additionally, Germany continues to be one of the world's major markets for e-mobility, making it a prosperous market for producers of electric cargo bikes. In addition, growing national populations, more transportation in Europe, and growing national concerns about carbon footprints will all contribute to market expansion.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 363 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $2.39 7Billion |
| Forecasted Market Value (USD) by 2032 | $30.66 Billion |
| Compound Annual Growth Rate | 32.7% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Growing Use of Environmentally Friendly Transportation
Opportunities
- Growing Technological Advancements in Electric Vehicle Industry
Challenges
- The Bikes' Limited Range
Competitive Leadership Outlook
- Market Leaders
- Innovators
- Startups & Emerging Companies
Global Electric Cargo Bikes Market, Company Analysis
- Accell Group N.V. (Netherland)
- Amcargobikes (Denmark)
- Amsterdam Bicycle Company Bv (Netherland)
- Bizz on Wheels (Romania)
- Butchers & Bicycles Ltd. (Denmark)
- Cero Inc. (US)
- Christiania Bikes (Denmark)
- Derby Cycle AG (Germany)
- Eav (Uk)
- Giant Bicycles (Taiwan)
- Hero Motocorp Limited (India)
- Lectricebikes (US)
- Nikola (US)
- Okinawa Autotech Internationall Private Limited (India)
- Rad Power Bikes Inc. (US)
- Riese & Muller GmbH (Germany)
- Worksman Cycles (US)
- Xtracycle Cargo Bikes (US)
- Xyz Cargo (US)
- Yuba Bicycles LLC (US)
For more information about this report visit https://www.researchandmarkets.com/r/atkwta
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