Updated : Feb 01, 2021 Business

Global Electric Cargo Bikes Market- Industry Analysis and forecast 2020 – 2027

Global Electric Cargo Bikes Market size was valued US$ XX Mn. in 2020 and the total revenue is expected to grow about 14% from 2020 to 2027, reaching nearly US$ XX Mn.

Global Electric Cargo Bikes Market

Electric Cargo Bikes refers to a forthcoming car rental service that allows city drivers to engage in a ride-sharing service. Smart device owners can call a car with driverless technology through an app, which picks them up for their transport or delivery needs.Low running prices, reduction in transporting times, and lower environmental impact are some of the benefits of using electric cargo bikes instead of different mediums to move goods. The shifting shopper preference for electric cargo bikes in developed countries is additionally expected to grow new opportunities for market growth and product growth to significant companies. 

The regional assessment of the electrical cargo bikes market is segmented into North America, Europe, Asia Pacific, South America, Middle East & Africa region. The North America region is projected to look at exceptional growth and was the principal market. The North America regional market is one of the high-flying markets within the international electrical cargo bikes market. The electrical cargo bike market is motivated because of the govt initiatives to support the implementation of all-electric cargo bikes for rider & material transport. What is more, this region is known for the speedy adoption of novel technologies and has discovered important augmentation within the demand for electrical cargo bikes within the past few years. The national market within the United States of America electrical load bike market is mounting because of the tremendous prospective client base, high investment in analysis & development, backing from the govt, and speedy electrification of the domestic industry. The investments and also the encouraging surroundings policies, motivated by the govt bodies, can create the United States of America a chief market within the electrical cargo bike market.

In past some years electric cars have received a great deal of press coverage, but globally electric bicycles outsell electric cars by a wide margin. About 112,000 electric cars were sold worldwide in 2013. By comparison, something in the region of 40 million e-bicycles was sold worldwide in 2013. In China, there are more electric bikes than cars on the road. The global pattern for sales of e-bikes in 2013 has China in the first place, at about 32 million, followed by Europe at 1.8 million, and Japan at 440,000. The U.S. had sales of an estimated 185,000 e-bikes.Exhaust pipe emission is thought to be the major concern associated with gasoline and diesel-powered bikes. Compounds of NO2, carbon monoxide, un-burnt Benzene, Particulate matter, 〖CO〗_2, etc. along with other un-burnt harmful airborne chemicals are released into the atmosphere from such vehicles. The uncontrolled discharge of these chemicals into air pollutes the atmosphere severely and in turn, causes life threatening diseases to living beings who breathe this polluted air. On an average, a gasoline engine bikes releases over 240 Gms of harmful chemicals, including carbon dioxide per Km traveled, or equivalent to over 4,760 Kgs of harmful pollutants per year. This pollution rate can be brought down if customers opt for electric cargo bikes, which are less polluting and far more efficient than conventional petrol cargo bikes. 

“According to market data of the Zweirad-Industrie-Verband (ZIV), in 2018, an estimated 39,200 e-cargo bikes were sold in Germany. In contrast, only 36,062 new electric cars were registered. As in 2016, e-cargo bikes are back in the lead – despite a €4,000 federal incentives scheme for private e-cars. The sales growth rate of e-cargo bikes is especially astonishing. In 2018, e-bikes sales increased by a whopping 36% – but the e-cargo bike market growth was 80%. According to ZIV, their share of all e-bike sales in Germany has risen from 2.5% in 2016 to 3% in 2017, culminating at 4% in 2018.

Global Electric Cargo Bikes Market1

By region, Europe is predicted to direct the global electric cargo bikes market. The Europe electric cargo bikes market is estimated to gain 450 Basis points between 2020-2027. Moreover, the region is anticipated to remain a high growth market throughout the forecast period. It is projected to grow with a CAGR of 14.2% over the forecast period, primarily owing to the increasing production of electric cargo bikes.

By battery type, in terms of value and volume, the lithium-ion battery segment is predicted to lead the global electric cargo bikes market all through the estimated period. For the lithium-ion segment, Europe is one of the most lucrative regions as the region accounts for almost 80% of the total sales. The lithium-ion electric cargo bikes market is expected to create an incremental $ opportunity of US$ 560.6 Mn between 2018 and 2026 in the global electric cargo bikes market.

By end-use, in respect of volume, the courier and parcel service provider segment is estimated to be pegged at 51,940 units in 2020. This segment is expected to grow with a CAGR of 14% between 2020 and 2027 in the global electric cargo bikes market. The personal transport electric cargo bikes segment is estimated to generate an incremental opportunity of USD 160.1 Mn over the predicted period.

By product type segment, MMR forecasts that the three-wheeled electric cargo bikes segment is projected to reach USD 584.6 Mn in 2027 from USD 227.50 Mn in 2018, representing a compound annual growth rate (CAGR) of 14.4% from 2020 to 2027.

The report also helps in understanding Electric Cargo Bikes Market dynamics, structure by analyzing the market segments and projects the Electric Cargo Bikes Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Electric Cargo Bikes Market make the report investor’s guide.

Scope of the Electric Cargo Bikes Market

Electric Cargo Bikes Market, By Product Type

• Two-Wheeler
• Three-Wheeler
• Four-Wheeler
• Others
Electric Cargo Bikes Market, By Battery Type

• Lithium ion
• Nickel Based
• Lead Based
• Others
Electric Cargo Bikes Market, By End User

• Courier & Parcel Service Providers
• Service Delivery
• Personal Use/ Transportation
• Large Retail Supplier
• Waste Municipal Services
• Others
Electric Cargo Bikes Market, By Region

• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Key players operating in Electric Cargo Bikes Market

• Jiangsu Xinri E-Vehicle Co., Ltd.
• Jinhua JOBO Technology Co. Ltd.
• Cero Electric Cargo Bikes
• Worksman Cycles
• Douze Factory SAS
• XYZ Cargo
• Butchers & Bicycles ApS
• Dutch Cargo Lead Based
• Kocass Technology Co., Ltd
• G & O Family Cyclery
• Yuba Electric Cargo Bikes
• Cargocycles
• Rad Power Lead Based LLC (US),
• Douze Factory SAS(France)
• Xtracycle(US)
• Riese & Müller GmbH (Germany)
• Butchers & Bicycles (Denmark).

Browse Full Report with Facts and Figures of Electric Cargo Bikes Market Report at: https://www.maximizemarketresearch.com/market-report/global-electric-cargo-bikes-market/66694/

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