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.
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.
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.
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).
May 2019- Volkswagen Commercial Vehicles is introducing its smallest delivery vehicle which is all set to hit the roads this year. This cargo e-bike comes with 250-watt electric motor and needs neither insurance