E-cargo bike market is anticipated to grow at a considerable CAGR of 27.6% during the forecast period. The e-cargo bike market has been growing in the past few years exponentially. With continuously increasing market players, the competition in the market is evident and growing. This has increased the multiple options for the user with the best offers available, which led to the growth in the market. The demand is anticipated to grow as the market players are launching new e-cargo bikes to dense the competition. For instance, in August 2021, Spin, a micro-mobility company, launched two e-cargo bike trails in the UK county of Essex. In Colchester, with a local community-based initiative, the Colchester E-Cargo Bike Delivery Project, Spin trialed an e-cargo bike delivery service to replace and recharge drained e-scooter batteries. Additionally, in July 2021, Hero Motor’s Lectro company delivered its first batch of 200 made-in-India e-bikes in Germany, Europe to full fill the rising demand. Hero Lectro also partnered with Fast Despatch Logistics (FDL) and Turtle Mobility for deploying last-mile delivery cargo e-bikes.
Other than new vehicle launches, governments also funded some schemes to full fill the rising demand for e-cargo bikes. For instance, in September 2021, the Mayor of London and the tri-borough Zero Emission Network (ZEN), funded a scheme for sharing e-cargo bikes to help the residents and businesses of London Boroughs of Hackney, Tower Hamlets, and Islington to reduce emissions and to carry goods.
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Market Coverage
- The market number available for – 2022-2029
- Base year- 2022
- Forecast period- 2023-2029
Segment Covered-
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
Rest of the World
Competitive Landscape– including Accell Group, CERO Bikes, Rad Power Bikes Inc., Riese & Müller GmbH, Yadea, and others.
Global E-Cargo Bike Market Report Segment
By Type
- Two-Wheeler
- Three-Wheeler
By Application
- Food Delivery
- Postal Services
- Personal Transportation
- Other (Retail Supplier, and Service Delivery)
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E-Cargo Bike Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Bunch Bikes
- Hero Lectro
- Honda Motor Co., Ltd.
- RYTLE GmbH
- Worksman Cycles CO Inc.
- Yuba Bicycles LLC
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