Global Electric Cargo Bike Market Forecast and Growth 2024

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The new report published by The Business Research Company, titled Electric Cargo Bike Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the electric cargo bike market size has grown rapidly in recent years. It will grow from $1.69 billion in 2023 to $1.88 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The electric cargo bike market size is expected to see rapid growth in the next few years. It will grow to $2.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%.

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What Is Driving The Growth Of The Global Electric Cargo Bike Market?

Rise Of E-Commerce Is Driving The Growth Of The Electric Cargo Bike Market.
The rise of e-commerce is expected to propel the growth of the electric cargo bike market going forward. E-commerce is expanding due to the convenience of online shopping, the proliferation of mobile devices, and the increased accessibility of the internet. Electric cargo bikes are used in e-commerce for efficient, eco-friendly last-mile delivery, reducing congestion and emissions in urban areas. For instance, in May 2024, according to the Census Bureau of the Department of Commerce, a US-based government department, in the first quarter of 2024, U.S. retail e-commerce sales reached $289.2 billion, marking a 2.1% increase (±0.7%) from the fourth quarter of 2023. Therefore, the rise of e-commerce is driving the growth of the electric cargo bike market.

What Is The Key Trend In The Global Electric Cargo Bike Market?

Innovations In Electric Cargo Bikes Enhance Cargo Capacity 
Major companies operating in the electric cargo bike market are focusing on developing advanced products with extended rear ends and versatile racks to enhance cargo capacity and adaptability. Extended rear ends refer to longer rear sections designed for carrying larger loads, while versatile racks are adjustable or multi-functional cargo platforms for improved cargo handling. For instance, in February 2024, Gocycle., a UK-based developer of electric bicycles, launched the CXi and CX+ long-tail electric cargo bikes, designed for urban mobility and family use. It offers unique features such as an electric pedal assist system, a high-capacity battery, integrated cargo solutions, a durable build, an advanced braking system, enhanced safety features, and customizable options, offering a versatile and efficient riding experience.

How Is The Global Electric Cargo Bike Market Segmented?
The electric cargo bike market covered in this report is segmented -

1) By Product: Two-Wheeled, Three-Wheeled, Four-Wheeled
2) By Battery Type: Li-Ion, Lead Based, Nickel Based
3) By Range: Less Than 50 Km, More Than 50 Km
4) By End Use: Courier And Parcel Service Providers, Large Retail Suppliers, Personal Transportation, Service Delivery, Waste, Municipal Services

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How Is The Competitive Landscape Of The Global Electric Cargo Bike Market?
Major companies operating in the electric cargo bike market are Pon Holdings B.V., Giant Manufacturing Co. Ltd., Rad Power Bikes Inc., Accell Group N.V., Derby Cycle Werke GmbH, Brompton Bicycle Ltd., Riese & Müller GmbH, Pedego Electric Bikes LLC, Tern Bicycles Pte. Ltd., Worksman Cycles Inc., Urban Arrow B.V., Hero Cycles Ltd., Triobike ApS, Royal Dutch Gazelle, Babboe B.V., Kleuster B.V., Winora Group GmbH, Amsterdam Bicycle Company B.V., Benno Bikes Inc., Bunch Bikes Inc., Butchers & Bicycles ApS, Christiania Bikes ApS, Surly Bikes, Xtracycle Inc., Yuba Bicycles LLC

Contents Of The Global Electric Cargo Bike Market
1. Executive Summary
2. Electric Cargo Bike Market Report Structure
3. Electric Cargo Bike Market Trends And Strategies
4. Electric Cargo Bike Market - Macro Economic Scenario
5. Electric Cargo Bike Market Size And Growth
…..
27. Electric Cargo Bike Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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