Wilmington, Oct. 25, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s latest recent industry report, the Global Cargo Bike Market value is estimated at US$ 905.4 million in 2023 and is expected to rise at a strong CAGR of over 8.3% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
The cargo bike market is a burgeoning sector centered on bicycles intended expressly for hauling products and freight. These bikes have strong frames, longer platforms, and occasionally electric motors to help with pedaling, allowing them to carry heavy loads.
Cargo bike manufacturers have produced novel designs and configurations to meet a wide range of needs. Cargo bikes are designed for a variety of applications, including family commuting, commercial deliveries, and specialized applications such as food vending or mobile companies. These adaptable designs have broadened the market by meeting individual consumer needs.
- According to a deep-dive market assessment by RationalStat, the global Cargo Bike market has been analyzed on the basis of market segments, including product type, propulsion, price, wheel size, end use and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Cargo Bike market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Cargo Bike market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Cargo Bike Market: Segmental and Market Share Analysis
- On the basis of product type, the three-wheeled products segment is dominating the market with a market revenue of 45.9% of the market by the end of 2030.
- Based on propulsion, electric cargo bikes are used most commonly and are expected to account for over 75% of the market.
- On the basis of price, cargo bikes priced between US$ 3,501-US$ 6,000 are estimated to generate a maximum revenue share of more than 47% of the global cargo bike market.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 905.4 million |
| Market Size Forecast | US$ 1,582.1 million |
| Growth Rate | 8.3% |
| Dominant Segment | Electric Cargo |
| Dominant Region | Europe |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global Cargo Bike market include,
- In October 2022, Douze Cycles a French company introduced a new line of cargo bikes comprising four models with three of them featuring electric assistance.
- In June 2022, Tern introduced the NBD, a low-step e-bike built for comfort. With a gross vehicle weight limit of 140kg.
Some of the prominent players and suppliers operating and contributing significantly to the global Cargo Bike market growth include Riese & Müller GmbH, Urban Arrow, Larry vs Harry ApS, Xtracycle LLC, Cero Electric Cargo Bikes, Yuba Bicycles, Tern Bicycles, Bakfiets.nl, Douze Factory SAS, Butchers & Bicycles ApS, among others.
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RationalStat has segmented the global Cargo Bike market based on product type, propulsion, price, wheel size, end use, and region
- Global Cargo Bike Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product Type
- Two Wheeled
- Three wheeled
- Four wheeled
- Global Cargo Bike Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Propulsion
- Conventional
- Electric
- Global Cargo Bike Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Price
- Below US$ 1,500
- US$ 1,500 – 3,500
- US$ 3,501 – 6000
- Above US$ 6000
- Global Cargo Bike Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Wheel Size
- Below 20"
- 20" – 24"
- 26"
- 5"
- Others
- Global Cargo Bike Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End Use
- Courier & Parcel Service Provider
- Large Retail Supplier
- Personal Transportation
- Service Delivery
- Waste, Municipal Services
- Global Cargo Bike Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Cargo BikeMarket
- US
- Canada
- Latin America Cargo BikeMarket
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Cargo BikeMarket
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Cargo BikeMarket
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Cargo BikeMarket
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Cargo BikeMarket
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Cargo BikeMarket
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Key Questions Answered in the Cargo Bike Report:
- What will be the market value of the global Cargo Bike market by 2030?
- What is the market size of the global Cargo Bike market?
- What are the market drivers of the global Cargo Bike market?
- What are the key trends in the global Cargo Bike market?
- Which is the leading region in the global Cargo Bike market?
- What are the major companies operating in the global Cargo Bike market?
- What are the market shares by key segments in the global Cargo Bike market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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