Electric Cargo Bikes Market Overview:
The global Electric
Cargo Bikes Market is expected to exhibit a strong CAGR of close to 20%
over the forecast period till 2030, according to the latest research report
from Market Research Future (MRFR). The report presents a detailed overview of
the global Electric Cargo Bikes Market, including a detailed look at the
market’s historical growth trajectory, present conditions, and future growth
forecasts. The major drivers and restraints affecting the global Electric Cargo
Bikes Market are also profiled in detail in the report. The analysis of the
growth trajectory of the global Electric Cargo Bikes Market is thus
supplemented with a detailed analysis of the major drivers and restraints
affecting the market. Major players operating in the global Electric Cargo
Bikes Market are also profiled in detail in the report. The impact of the
COVID-19 pandemic on the global Electric Cargo Bikes Market is also discussed
in detail in the report.
Electric cargo
bikes are electric bikes used to deliver various types of cargo from point to
point. The Electric Cargo Bikes Market has mainly prospered in urban areas,
where the charging infrastructure for electric bikes is present. The growing
popularity of home delivery of various goods in various sectors is likely to be
a major driver for the global Electric Cargo Bikes Market over the forecast
period. Due to increasing adoption of customer-centric operations, many
organizations have incorporated home delivery services in order to serve
customers better. The convenience of home delivery services fits in perfectly
with the modern urban lifestyle, where customers may not have the time required
to go out and do their shopping themselves. Due to this, everything from
grocery shopping to delivery of consumer goods such as home electronics has
been revolutionized by the increasing adoption of home delivery services.
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Report of Electric Cargo Bikes Market
The growing
ecommerce sector in developed as well as developing regions is also likely to
be a major driver for the global Electric Cargo Bikes Market over the forecast
period. Due to the growing popularity of ecommerce, many larger ecommerce
companies have incorporated electric cargo bikes into their operations in order
to reduce their carbon footprint and make their operations viable with regard
to the environment. The growing ecommerce sector in developing countries such
as China and India is likely to remain a major driver for the global Electric
Cargo Bikes Market over the forecast period.
Competitive Leaderboard:
Leading players
in the global Electric Cargo Bikes Market include Butchers & Bicycles,
Riese & Muller GmbH, Worksman Cycles, Xtracycle, Douze Factory SAS, Kocass
Technology Co. Ltd., Yuba Electric Cargo Bikes, Cero Electric Cargo Bikes,
Jiangsu Xinri E-Vehicle Co. Ltd., and Rad Power Bikes LLC.
Segmentation:
The global Electric
Cargo Bikes Market is segmented on the basis of product, battery type, end use,
and region.
By product type,
the global Electric Cargo Bikes Market is segmented into two wheeler, three
wheeler, and four wheeler. The two wheeler segment is likely to dominate the
global Electric Cargo Bikes Market over the forecast period. Two wheeler
electric cargo bikes usually have self-balancing capabilities and can run up to
100 or more km on a single charge. They usually have a load carrying capacity
of up to 100 kg. this makes them highly useful in most applications where
electric cargo bikes are used, leading to growing popularity of the segment.
By battery type,
the global Electric Cargo Bikes Market is segmented into lithium-ion,
lead-based, and nickel-based. The Li-ion battery segment is likely to be the
dominant segment over the forecast period due to the high energy density and
reliability of this type of batteries.
By end use, the
global Electric Cargo Bikes Market is segmented into courier and parcel service
providers, service delivery, personal use/transportation, large retail
suppliers, waste management services, and others.
Regional Analysis:
Europe dominates
the global Electric Cargo Bikes Market, holding a share of more than 40% in the
global market. Asia Pacific is the second largest regional segment of the
global Electric Cargo Bikes Market and is likely to emerge as an important regional
segment over the forecast period.
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