Global Electric Cargo Bikes Market to Observe Strong Development by 2027

2022-04-11 12:33:50 UTC | Automotive & Transportation
Global Electric Cargo Bikes Market to Observe Strong Development by 2027

The Infinium Global Research analyzes the Electric Cargo Bikes Market over the period of 2021 to 2027. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in the global electric cargo bikes market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of electric cargo bikes. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the electric cargo bikes market during the period. The global electric cargo bikes market is projected to reach USD 1286.8 million by 2027 from USD 623.9 million in 2021, growing at a CAGR of 12.82% over the forecast period of 2021-2027.

"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2021-2027." 

The Section on the Impact of COVID-19 on this Market is Included in the Report for Free. To Know More Request a Sample of this Report: 

The Advent of Connected Vehicles and Modern Technologies Such As IoT and 5g is Likely to Boost the Growth of the Electric Cargo Bikes Market

The concern over the COVID-19 caused many governments around the world to focus more on healthcare infrastructure, compared to other industries. Many countries in the world imposed stay-at-shelter orders. These restrictions affected manufacturing around the world. Manufacturing units of various industries were shut down in many countries. This pandemic had a serious impact on the electric cargo bikes market. The market registered lower sales and demand over the period of the pandemic. End-users spent less on vehicles and related products during the pandemic period. The government restrictions coupled with a shortage of labor during the pandemic resulted in lower production. However, the majority of bike manufacturers and service providers resumed the limited production, after it recovered from the plunge suffered during the COVID-19 pandemic.

One of the key factors driving the electric cargo bikes market is the continuous rise in the prices of fossil fuels. Electric bikes are powered by electricity, which diminishes the cost of fuel along with being environmentally friendly and reduces pollution. Furthermore, many governments are heavily investing in the charging infrastructure installation and collaborating with multiple oil and gas companies for establishing and developing charging stations. However, the limited range and low speed of electric cargo bikes are anticipated to be major challenges for the electric cargo bikes market. Due to such challenges, many end-users prefer combustion engine vehicles over electric cargo bikes. Nevertheless, the advent of connected vehicles and modern technologies such as IoT and 5G is likely to boost the growth of the electric cargo bikes market over the forecast period.

The Asia Pacific is Leading the Electric Cargo Bikes Market

Geographically, Asia Pacific is leading the electric cargo bikes market value as well as volume, followed by Europe, North America, the Middle East, Africa, and Latin America. The Asia Pacific market is majorly driven by the healthy growth in EV sales and improving charging infrastructure in China. The growing demand for EVs for personal and commercial use is augmenting the demand for electric cargo bikes in the Asia Pacific. Europe holds the second-largest share in the market owing to the presence of the key players in this region. Countries such as the UK, France, Germany, and Netherlands front running countries for electric cargo bikes and EVs. North America is predicted to show promising growth in this market. Other regions such as South America the Middle East and Africa are witnessing healthy growth in the market due to improving technologies and government funding for EVs and electric cargo bikes.

Electric Cargo Bikes Market: Segmentation

The report on the global electric cargo bikes market covers segments such as product type, battery type, and end-user. On the basis of product type, the sub-markets include two-wheeled, three-wheeled, and four-wheeled. On the basis of battery type, the sub-markets include lithium-ion, lead-based, and nickel-based. On the basis of end-user, the sub-markets include courier and parcel service providers, retail suppliers, service delivery, municipal services, personal use, and others.

Electric Cargo Bikes Market: Competitive Analysis

The report provides profiles of the companies in the market such as Rad Power Bikes Inc., Jiangsu Xinri E-Vehicle Co. Ltd., Yuba Electric Cargo Bikes, Riese & Müller GmbH, Jinhua Jobo Technology Co., Ltd., CERO Inc., Douze Factory SAS, Butchers & Bicycles ApS, Worksman Cycles Company Inc., and Babboe BV.

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the electric cargo bikes.

=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2027.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company. 

 => Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.