Electric Cargo Bikes Industry Report: Information by Battery Type, End-Use, Product Type, and Region with Forecast till 2023. Global Electric Bikes Cargo Market, projected to witness 12.5% CAGR by 2023
According to the latest report Global Electric Bikes Cargo Market Research Report: Information by Battery Type (Lithium-ion, Nickel-based, and Lead-based), End-Use (Personal Use, Large retail supplier, Courier & Parcel Service Providers), Product Type, and Region - Forecast till 2023, published by Market Research Future, the Global Electric Bikes Cargo Market, projected to witness 12.5% CAGR by 2023
Global Electric Bikes Cargo Market Key Players:
Leading players profiled in the electric bikes cargo market include Yuba Electric Cargo Bikes, and Cargocycles (US), Dutch Cargo Bike (Netherlands), Butchers & Bicycles ApS (Denmark), G & O Family Cyclery (US), Douze Factory SAS (France), Kocass Technology Co., Ltd. (China), Jinhua JOBO Technology Co., Ltd.(China), Jiangsu Xinri E-Vehicle Co., Ltd.(China), Worksman Cycles (US), Cero Electric Cargo Bikes (US), and XYZ Cargo (Germany).
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Electric Bikes Cargo Market Market Analysis
The global electric bikes cargo market is predicted to have a notable growth at 12.5% CAGR over the assessment period (2018-2023). Electric cargo bikes simply put, are bikes and bicycles that are operated as well as powered by portable batteries mainly nickel-based and lithium ion batteries. Practical, affordable, good for health and eco-friendly are some of the key benefits of such bikes. Owing to its sleek design and lightweight construction, these bikes make an incredibly stable and smooth ride. With the support of the electric motor and battery, these cargo bikes are hassle-free to operate. An electric cargo bike has the capacity of carrying several customer orders together and thereby provide a greener substitute to traditional delivery cars, producing no noise pollution and zero emissions.
There are ample factors that is boosting the growth of the electric bikes cargo market. These factors as stated by the Market Research Future (MRFR) report include lower environmental impact, good speed despite congestion and lower running cost. These are the key advantages why electric bikes cargo are chosen over other mediums for transporting goods. Innovations and technological advancements used in manufacturing vehicles have boosted the demand for such vehicles across the world. The trend for electric vehicles is also propelling the demand for electric bikes cargo. The additional factors that are propelling the market growth include growing e-commerce platforms, new developments such as transport alternatives having low emission, lower running costs, increase in just-in-time deliveries, insufficient retail storage space and reduction in the delivery time. On the contrary, high cost of electric cargo bikes, size of the battery, absence of structured regulatory frameworks, and lack of secure parking, safe cycle lanes and easily available repair shops are factors that may deter the electric bikes cargo market growth over the assessment period.
Electric Bikes Cargo Market Market Segmentation
MRFR report offers a wide segmental analysis of the electric bikes cargo market on the basis of product type, battery type and end-use.
Based on the product type, the electric bikes cargo market is segmented into four-wheeler, three-wheeler and two-wheeler. Of these, the three-wheeler segment will have the largest share in the market over the assessment period.
Based on battery type, the electric bikes cargo market is segmented into lead based, nickel-based and lithium-ion. Of these, lithium-ion will dominate the market over the assessment period.
Based on end-use, the electric bikes cargo market is segmented into waste municipal services, courier and parcel service providers, service delivery, large retail supplier, personal use/transportation and others. Of these, courier and parcel service providers will lead the market over the assessment period owing to the shift in the preference of consumers for an electric cargo bike and increasing package deliveries from the online retail sector.
Electric Bikes Cargo Market Regional Analysis
By region, the electric bikes cargo market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, Europe will domineer the market over the assessment period due to growing awareness about pollution reduction by using battery operated vehicles, alternatives for saving time and congested traffics. Besides, the authorities and manufacturers of electric vehicles in this region are laying emphasis to improve charging infrastructure which again is driving the market growth in this region. The electric bikes cargo market in the APAC region is predicted to have a substantial growth over the assessment period due to rise in electrification in China and Japan. Government in India and China are likely to acquire electric bikes cargo and also spread awareness regarding the benefits of using such vehicles.
The global electric bikes cargo industry is predicted to have a notable growth at 12.5% CAGR over the assessment period (2018-2023).
Electric cargo bikes simply put, are bikes and bicycles that are operated as well as powered by portable batteries mainly nickel-based and lithium ion batteries.
Practical, affordable, good for health and eco-friendly are some of the key benefits of such bikes.
Owing to its sleek design and lightweight construction, these bikes make an incredibly stable and smooth ride.
These are the key advantages why electric bikes cargo are chosen over other mediums for transporting goods.
The additional factors that are propelling the market growth include growing e-commerce platforms, new developments such as transport alternatives having low emission, lower running costs, increase in just-in-time deliveries, insufficient retail storage space and reduction in the delivery time.
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 product type, battery type, end-use and regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Rising government spending to support the adoption of renewable energy sources and environmentally sustainable alternatives has contributed significantly to the growth of the sector.
Although four-wheeler cargo bikes have not yet played an important role, in comparison to two-wheelers, sales of three-wheeled cargo bikes are increasing at a comparatively faster pace.
(All segments mention the leading or significant (growth-driving) segments).Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/electric-cargo-bikes-marketBy product type, the market is segmented as:Two-WheeledThree-WheeledFour-WheeledThe market is segmented, based on the battery type, as:Lead BasedNickel BasedLithium-IonOthersBased on end-use, the industry can be divided into:Courier and Parcel Service ProviderMunicipal ServicesService DeliveryRetail SupplierOthersOn the basis of regional markets, the industry is divided into:1 North America1.1 United States of America1.2 Canada2 Europe2.1 Germany2.2 United Kingdom2.3 France2.4 Italy2.5 Others3 Asia Pacific3.1 China3.2 Japan3.3 India3.4 ASEAN3.5 Others4 Latin America4.1 Brazil4.2 Argentina4.3 Mexico4.4 Others5 Middle East & Africa5.1 Saudi Arabia5.2 United Arab Emirates5.3 Nigeria5.4 South Africa5.5 OthersMarket TrendsIn the global market for electric cargo bikes, Europe is the leading region and is also expected to retain its dominance in the forecast era.
The growth of the regional industry is aided by the growing adoption of cargo bikes for private and commercial use.
North America, meanwhile, is predicted to see significant growth during the projected period.
