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Global Electric Cargo Bikes Market: By Product Type: Two Wheeled, Three Wheeled, Four Wheeled; By Battery Type: Lithium Ion, Others; By End Use: Residential, Commercial; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Electric Cargo Bikes Market Outlook
The global electric cargo bikes market reached a value of about USD 1,455.8 million in 2021. The market is further expected to grow at a CAGR of 34.8% in the forecast period of 2023-2028 to reach a value of approximately USD 8,800.2 million by 2027.
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Europe to Dominate the Global Market for Electric Cargo Bikes
Europe is the leading region in the global market for electric cargo bikes and is expected to maintain its dominance in the forecast period as well. The market growth in Europe can be attributed to the thriving cargo bikes industry and the increasing adoption of electric vehicles (EVs) in the region. The favourable government initiatives to promote clean transport are significantly contributing to the industry growth. Further, Germany accounts for a major share in the European electric cargo bikes industry. The country recorded the sales of 15,000 e-cargo bikes in 2016. The increasing adoption of cargo bikes for private and commercial use is aiding the regional industry growth. Besides Germany, Denmark, the United Kingdom, and the Netherlands are the other significant national markets in Europe. Meanwhile, North America is expected to witness a considerable growth in the forecast period. The growing focus on improving air quality, decarbonising transport, and regaining public street space is expected to favour the electric cargo bikes industry growth in the coming years.
Electric Cargo Bikes: Market Segmentation
Electric cargo bikes refer to battery operated bikes and bicycles. These bikes are operated and powered by portable batteries like lithium ion and nickel-based batteries. Electric cargo bikes are highly versatile and offer smooth ride as they are light in weight. They can serve as an efficient method of transport for carrying packages, cargo, food, and more. Further, the demand for these vehicles is increasing as they are environment friendly and have a low running cost.
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By product type, the market is bifurcated into:
- Two Wheeled
- Three Wheeled
- Four Wheeled
The market is divided based on battery type into:
- Lithium Ion
- Others
On the basis of end use, the industry can be segmented into:
- Residential
- Commercial
The commercial segment is further divided into courier and parcel service provider, service delivery, retail supplier, and others.
The regional markets for the product include North America, Europe, the Asia Pacific, and the Rest of the World.
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Increasing Environmental Concern to Bolster the Growth of the Electric Cargo Bikes Industry
The growing environmental consciousness around the globe is the major factor driving the growth of the electric cargo bikes industry. The increasing government investments to encourage the adoption of renewable energy sources and environment friendly alternatives have significantly contributed to the market expansion. The sales of three-wheeler cargo bikes are growing at a relatively faster rate in comparison to two wheelers. The rapid technological advancements and new innovations to develop affordable and low emission transport alternatives are expected to bode well for the industry growth in the coming years.
Key Industry Players in the Global Electric Cargo Bikes Market
The report gives a detailed analysis of the following key players in the global electric cargo bikes market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Rad Power Bikes Inc.
- Yuba Bicycles LLC
- Worksman Cycles Company Inc.
- DOUZE Factory SAS
- Amsterdam Bicycle Company BV
- Babboe BV
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Battery Type, End Use, Region |
| Breakup by Product Type | Two Wheeled, Three Wheeled, Others |
| Breakup by Battery Type | Lithium Ion, Others |
| Breakup by End Use | Residential, Commercial (Courier and Parcel Service Provider, Service Delivery, Retail Supplier, and Others) |
| Breakup by Region | North America, Europe, Asia Pacific and Rest of the World |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Rad Power Bikes Inc., Yuba Bicycles LLC, Worksman Cycles Company Inc., DOUZE Factory SAS, Amsterdam Bicycle Company BV, Babboe BV, and others. |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Electric Cargo Bikes Market Analysis
8.1 Key Industry Highlights
8.2 Global Electric Cargo Bikes Historical Market (2018-2022)
8.3 Global Electric Cargo Bikes Market Forecast (2023-2028)
8.4 Global Electric Cargo Bikes Market by Product Type
8.4.1 Two Wheeled
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Three Wheeled
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Four Wheeled
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Electric Cargo Bikes Market by Battery Type
8.5.1 Lithium Ion
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Electric Cargo Bikes Market by End Use
8.6.1 Residential
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Commercial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.2.4 Breakup by Application
8.6.2.4.1 Courier and Parcel Service Provider
8.6.2.4.1.1 Market Share
8.6.2.4.1.2 Historical Trend (2018-2022)
8.6.2.4.1.3 Forecast Trend (2023-2028)
8.6.2.4.2 Service Delivery
8.6.2.4.2.1 Market Share
8.6.2.4.2.2 Historical Trend (2018-2022)
8.6.2.4.2.3 Forecast Trend (2023-2028)
8.6.2.4.3 Retail Supplier
8.6.2.4.3.1 Market Share
8.6.2.4.3.2 Historical Trend (2018-2022)
8.6.2.4.3.3 Forecast Trend (2023-2028)
8.6.2.4.4 Others
8.7 Global Electric Cargo Bikes Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Rest of the World
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.1.1 Historical Trend (2018-2022)
9.1.3.1.2 Forecast Trend (2023-2028)
9.1.3.2 Canada
9.1.3.2.1 Historical Trend (2018-2022)
9.1.3.2.2 Forecast Trend (2023-2028)
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.1.1 Historical Trend (2018-2022)
9.2.3.1.2 Forecast Trend (2023-2028)
9.2.3.2 Germany
9.2.3.2.1 Historical Trend (2018-2022)
9.2.3.2.2 Forecast Trend (2023-2028)
9.2.3.3 France
9.2.3.3.1 Historical Trend (2018-2022)
9.2.3.3.2 Forecast Trend (2023-2028)
9.2.3.4 Netherlands
9.2.3.4.1 Historical Trend (2018-2022)
9.2.3.4.2 Forecast Trend (2023-2028)
9.2.3.5 Denmark
9.2.3.5.1 Historical Trend (2018-2022)
9.2.3.5.2 Forecast Trend (2023-2028)
9.2.3.6 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 Rest of the World
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Rad Power Bikes Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Yuba Bicycles LLC
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Worksman Cycles Company Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 DOUZE Factory SAS
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Amsterdam Bicycle Company BV
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Babboe BV
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Electric Cargo Bikes Market: Key Industry Highlights, 2017 and 2027
2. Global Electric Cargo Bikes Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3. Global Electric Cargo Bikes Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global Electric Cargo Bikes Historical Market: Breakup by Battery Type (USD Billion), 2018-2022
5. Global Electric Cargo Bikes Market Forecast: Breakup by Battery Type (USD Billion), 2023-2028
6. Global Electric Cargo Bikes Historical Market: Breakup by End Use (USD Billion), 2018-2022
7. Global Electric Cargo Bikes Market Forecast: Breakup by End Use (USD Billion), 2023-2028
8. Global Electric Cargo Bikes Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Electric Cargo Bikes Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Electric Cargo Bikes Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Electric Cargo Bikes Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Electric Cargo Bikes Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Electric Cargo Bikes Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Electric Cargo Bikes Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Electric Cargo Bikes Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Electric Cargo Bikes Market Structure
Key Questions Answered in the Report
In 2021, the global electric cargo bikes market attained a value of nearly USD 1,455.8 million.
The market is projected to grow at a CAGR of 34.8% between 2023 and 2028.
The industry is being propelled by the increased government spending to stimulate the use of renewable energy sources and environment-friendly alternatives, rapid technology breakthroughs and new technologies allowing for the development of inexpensive and low-emission transportation options.
The key trend bolstering the market expansion include the rising environmental consciousness worldwide.
The major regions in the industry are North America, Europe, Asia Pacific and the rest of the world.
The different product types include two wheeled, three wheeled, and four wheeled.
The significant battery types include lithium ion, and others.
The major end uses include residential and commercial. Commercial is further segmented into courier and parcel service provider, service delivery, retail supplier, among others.
The major players in the industry are Rad Power Bikes Inc., Yuba Bicycles LLC, Worksman Cycles Company Inc., DOUZE Factory SAS, Amsterdam Bicycle Company BV, Babboe BV, and others.
Analyst Review
The global electric cargo bikes market attained a value of USD 1,455.8 million in 2021, driven by the rising environmental consciousness worldwide. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 34.8%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product type, the global electric cargo bikes industry can be segmented into two wheeled, three wheeled, and four wheeled. By battery type, the industry can be divided into lithium ion, and others. Based on end use, the industry can be classified into residential and commercial. Commercial end use is further divided into courier and parcel service provider, service delivery, retail supplier, and others. The major regional markets for electric cargo bikes are North America, Europe, Asia Pacific and the rest of the world. The key players in the above market include Rad Power Bikes Inc., Yuba Bicycles LLC, Worksman Cycles Company Inc., DOUZE Factory SAS, Amsterdam Bicycle Company BV, Babboe BV, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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