The new report by Expert Market Research titled, ‘Global Electric Cargo Bikes Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global electric cargo bikes market, assessing the market based on its segments like type, battery type, end use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020 ): USD 550 million
- Forecast CAGR (2021-2026 ): 12%
- Forecast Market Size (2026 ): USD 1086 million
The market for electric cargo bikes has seen substantial growth due to factors such as increasing environmental concern. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the electric cargo bikes market. The market expansion has been aided by increased government investments to promote the adoption of renewable energy sources and environmentally friendly alternatives. While four-wheeled cargo bikes have yet to make a major impact, sales of three-wheeled cargo bikes are increasing at a faster rate than two-wheelers. Rapid technological advances and new technologies are expected to boost industry growth in the coming years, allowing for the development of affordable and low-emission transportation alternatives.
Industry Definition and Major Segments
Electric cargo bikes are bicycles and bikes that are powered by batteries. Portable batteries, such as lithium ion and nickel-based batteries, are used to run and power these bikes. Because of their light weight, electric cargo bikes are extremely flexible and provide a smooth ride. They can be used to transport parcels, freight, food, and other items in a cost-effective manner. Furthermore, because these cars are environmentally friendly and have a low operating cost, demand for them is growing.
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Based on the type, the industry is divided into:
- Two Wheeled
- Three Wheeled
- Four Wheeled
Based on the battery type, the industry is divided into:
- Lead Based
- Nickel Based
- Lithium Ion
Based on the end use, the industry is divided into:
- Courier and Parcel Service Provider
- Municipal Services
- Service Delivery
- Retail Supplier
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Geographically, Europe currently leads the global market for electric cargo bikes and is expected to continue to do so over the forecast period. The flourishing cargo bike industry in Europe, as well as the region’s growing adoption of electric vehicles (EVs), can be credited for the market’s growth. The growth of the industry is aided by favourable government policies to encourage clean transportation. Furthermore, Germany controls a significant portion of the European electric cargo bike market. In 2016, the US sold 15,000 electric cargo bikes. Cargo bikes are becoming more popular for both personal and commercial use, which is helping the regional economy grow. Aside from Germany, the Netherlands, Denmark, the United Kingdom, and Denmark are the other major European national markets. North America, on the other hand, is expected to expand significantly over the forecast period. In the coming years, the increasing emphasis on improving air quality, decarbonizing transportation, and reclaiming public street space is expected to favour the growth of the electric cargo bike industry.
Key Market Players
The major players in the market Rad Power Bikes LLC, Yuba Bicycles LLC, Worksman Trading Corporation, Douze Factory SAS, Republic Bike Inc., Dutch Cargo Bike, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players. We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.https://themarketeagle.com/