Electric Cargo Bike Market is Expected to Exhibit a CAGR of 12.17% during 2022-2027: IMARC Group

IMARC Group's latest research report, titled "Electric Cargo Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global electric cargo bike market is expected to exhibit a CAGR of 12.17% during 2022-2027. Electric cargo bike, or freight bicycle, represents a battery-operated, lightweight vehicle that is designed to enable riders to carry and transport heavy products. Compared to a traditional cycle, it is more sleek, lightweight, faster, eco-friendly, and offers superior stability, which reduces adverse social, ecological, and economic effects. Electric cargo bike is commonly available in two, three, and four-wheeler bicycle types that are further driven by nickel-metal hydride (NiMH) and lithium-ion (Li-Ion) batteries. It is smooth, cost-effective, portable, and an easy-to-ride transportation medium, owing to which it is extensively used by riders for covering short distances in urban areas.

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Important Attribute and highlights of the Report:

Detailed analysis of the global market share
Market Segmentation by product type, battery type and end user.
Historical, current, and projected size of the market in terms of volume and value
Latest industry trends and developments
Competitive Landscape for Electric Cargo Bike Market
Strategies of major players and product offerings

The escalating demand for eco-friendly and cost-effective urban commute options, on account of the increasing number of ongoing automobile engineering activities, is primarily driving the electric cargo bike market. Besides this, the incorporation of lithium-Ion (Li-Ion) batteries in the vehicle, owing to its high energy density, better voltage capacity, longer charge retention, and lower self-discharge, is further augmenting the market growth. Moreover, the launch of several policies by the government bodies to undertake various green initiatives promoting the uptake of electric cargo bikes over conventional ones to minimize noise and air pollution is also catalyzing the global market. Apart from this, the rising utilization of e-commerce platforms has facilitated the widespread adoption of these bicycles in logistic companies to offer last-mile delivery services, which is anticipated to propel the electric cargo bike market over the forecasted period. 

Key Players Included in Global Electric Cargo Bike Market Research Report:

Accell Group N.V.
Amsterdam Bicycle Company
Butchers & Bicycles Ltd.
CERO Inc.
Derby Cycle AG (Pon Holdings BV)
Giant Bicycles
Mahindra & Mahindra Limited
Rad Power Bikes Inc.
Riese & Müller GmbH
Worksman Cycles
Xtracycle Cargo Bikes and Yuba Bicycles.

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COVID-19 Impact Overview:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Key Market Segmentation:

Breakup by Product Type:

Two-wheeler
Three-wheeler
Four-wheeler

Breakup by Battery Type:

Lithium-ion
Lead-based
Nickel-based

Breakup by End User:

Courier and Parcel Service Providers
Service Delivery
Personal Use
Large Retail Suppliers
Waste Municipal Services
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

TOC for the Electric Cargo Bike Market Research Report:

Preface
Scope and Methodology
Executive Summary
Introduction
Global Electric Cargo Bike Market
SWOT Analysis
Value Chain Analysis
Price Analysis
Competitive Landscape

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