Expert Market Research Explores the Top 6 Companies in the Global Electric Cargo Bikes Market

The global electric cargo bikes market reached approximately USD 2645.34 million in 2023. The market is projected to grow at a CAGR of 34.9% between 2024 and 2032 to attain a value of around USD 39168.96 million by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rapid adoption of quick-commerce services, increasing installation of appropriate infrastructure to support the transition to EVs, and favourable government and environmental policies.

Electric cargo bikes, powered by lithium-ion and nickel-based batteries, are lightweight, versatile, and provide smooth rides. They are efficient for transporting packages, cargo, and food, due to their eco-friendly benefits and low operating costs. The rising environmental consciousness and the government investments in renewable energy and eco-friendly transport have boosted the market growth. In addition, infrastructural development is supporting the basic infrastructural requirements. According to IEA, public (slow) charging stations grew by 661.1% from 2018 to 2023, globally.

In urban areas, electric cargo bikes offer an efficient solution for short-distance deliveries, avoiding traffic via bike lanes. Rapid technological advancements and innovations in affordable, low-emission transport are expected to further drive the market growth in the coming years.

The rapid expansion of e-commerce is accelerating the market growth of electronic cargo bikes, especially, with the significant adoption of quick-commerce services for food and grocery. The market for quick-commerce services primarily expanded during the COVID-19 pandemic. According to FAO report, the highest food-related online purchases are food services delivery, worldwide. This accounted for about 69% of digital consumers in 2022.

Top 6 Companies in the Global Electric Cargo Bikes Market

Rad Power Bikes Inc.

Rad Power Bikes is North America's leading electric bike brand, transforming transportation with energy-efficient, enjoyable, and accessible e-bikes. The company offers a diverse range of affordable electric bikes for all lifestyles including city, commuter, off-road, outdoors, family, RV, and more. It also offers folding, utility, cargo, and step-through e-bikes. The company operates on a direct-to-consumer model.

Yuba Bicycles LLC

Yuba Bicycles LLC is a US-based electronic and pedal-powered cargo bike company. The company offers a range of cargo e-bikes including compact cargo, full-size cargo, and front cargo. The company also offers a diverse range of accessories and essential products like helmets and locks. The company aims to mitigate environmental impact through innovative, active mobility solutions, supporting the transition towards a cleaner world.

Worksman Cycles Company Inc.

Worksman Cycles manufactures a wide range of products including bicycles, tricycles, folding bikes, electric bikes, accessories, vending carts, and food carts. The company has segmented its products into industrial, recreation, speciality, vending, electric, and accessories. The company has two manufacturing facilities in the USA, a food cart factory and a bicycle factory.

DOUZE Factory SAS

DOUZE Cycles designs and manufactures premium cargo bicycles for both professional and personal use. The company offers a diverse range of cargo bikes under its model categories V2 range, Hêta range, and LT range. The modular cargo bikes come in various lengths and are available with or without electric assist.

Amsterdam Bicycle Company BV

Amsterdam Bicycle Company BV offers high-quality Dutch bicycles and cargo bikes, handmade in the Netherlands and delivered directly to the USA. The company offers products like bicycles, e-bikes, cargo bikes, e-cargo bikes, and accessories. The company has offices in the USA and The Netherlands. Different styles, sizes, and colours are available online and the products offered are ready for immediate use.

Babboe BV

Babboe, the leading global brand in cargo bikes, has been crafting safe and affordable models for about 20 years. Founded in 2005 by Dutch parents seeking the perfect cargo bike, Babboe offers a variety of models including family and delivery bikes.