Global Cargo Bike Market, By Product Type (Two Wheeled, Three Wheeled, Four Wheeled), Propulsion (Conventional, Electric), Price (Below US$ 1,500, US$ 1,500-3,500, US$ 3,501-6000, Above US$ 6,000), Wheel Size (Below 20", 20"-24", 26", 27.5", Others), End Use (Courier and Parcel Service Provider, Large Retail Supplier, Personal Transportation, Service Delivery, Waste, Municipal Services) – Industry Trends and Forecast to 2029
Market Analysis and Size
Cargo bikes or carrier cycle, have gained great relevance in recent years due to its minimum need for maintenance and high user convenience quotient. The use of bikes has remained constant owing to the logistical, environmental, economical and logistical factors especially in regions including Asia Pacific, and Middle East and Africa.
Global Cargo Bike Market was valued at USD 910.00 million in 2021 and is expected to reach USD 2142.90 million by 2029, registering a CAGR of 11.30% during the forecast period of 2022-2029. Electric segment in the propulsion sector is expected to witness high growth owing to the rise in environmental consciousness among population. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Cargo bikes, also known as freight bicycle or cycle trucks, refer to the human powered along with electric battery powered bicycles that are constructed specifically for transporting loads. Vehicle designs include area that consists of either enclosed or open box, or a wired basket, generally mounted over one or both wheels.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Two Wheeled, Three Wheeled, Four Wheeled), Propulsion (Conventional, Electric), Price (Below US$ 1,500, US$ 1,500-3,500, US$ 3,501-6000, Above US$ 6,000), Wheel Size (Below 20", 20"-24", 26", 27.5", Others), End Use (Courier and Parcel Service Provider, Large Retail Supplier, Personal Transportation, Service Delivery, Waste, Municipal Services)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Jiangsu Xinri E-Vehicle Co. Ltd. (China), Jinhua Jobo Technology Co., Ltd. (China), CERO Electric Cargo Bikes (US), Worksman Cycles. (US), DOUZE Factory SAS (France), XYZ CARGO (US), Butchers & Bicycles ApS (Denmark), NIHOLA (Denmark), Babboe (UK), Yuba Bicycles LLC (US), LUXMEA (China), Chongqing Mobimax Technology Co., Ltd. (China), Riese & Müller GmbH (Germany), Urban Arrow (Netherlands), Rad Power Bikes (US), Tern (Taiwan), Pedego (US), Xtracycle Cargo Bikes (US), Amsterdam Bicycle Company (Netherlands), and Triobike A/S (Denmark), among others
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Market Opportunities
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Cargo Bike Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Government Initiatives
The rise in the government initiatives to encourage the use of cargo bikes in order to reduce carbon emissions acts as one of the major factor driving the growth of cargo bike market. These bikes are being considered an eco-friendly and efficient solution for commute.
- Consumer Inclination towards Electric bikes
The rise in consumer inclination towards electric or cargo bikes accelerate the market growth. These bikes are widely adopted as they are specifically designed and constructed to handle loads larger than those of an ordinary cycle.
- Tourism Sector
The expansion of tourism sector across the globe further influence the market. The rise in number of tourists and congestion caused by the number escalate the demand for electric bikes. Also, the rise in transportation-related concerns and their environmental impact assists in the expansion of the market.
Additionally, surge in investments, expansion of the automotive sector and increased disposable income positively affect the cargo bike market.
Opportunities
Furthermore, use of the eco-friendly urban logistics transportation alternative extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, advancements in these freight bikes will further escalate the growth of cargo bike market.
Restraints/Challenges faced by the Cargo Bike Market
On the other hand, high cost associated with the bikes and lack of infrastructure in developing regions are expected to obstruct market growth. Also, international trade policies and regulations are projected to challenge the cargo bike market in the forecast period of 2022-2029.
This cargo bike market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the e-bike market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on Cargo Bike Market
COVID-19 impacted cargo bike market positively impacted as commuters were mostly avoiding public transportation. Cargo bike market are being deployed as a convenient, affordable and safe alternative to public transportation. Bikes were adopted as mode of day-to-day transportation due to the government restrictions on public transport, and social-distancing guidelines. The sales were slow in the initial pandemic stage, but the growth is expected to grow in the post-pandemic due to the easing on the restrictions.
Recent Developments
- Aberdeen City Council announced their plan of launching hydrogen-powered cargo bikes in February’2021. The aim of the launch is to decline the emission caused due to petrol or diesel powered cargo bikes. The development of these bikes are said to be under “Fuel Cell Cargo Pedelecs”, a European project.
Global Cargo Bike Market Scope
The cargo bike market is segmented on the basis of product type, propulsion, price, wheel size and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Two Wheeled
- Three Wheeled
- Four Wheeled
Propulsion
- Conventional
- Electric
Price
- Below US$ 1,500
- US$ 1,500-3,500
- US$ 3,501-6000
- Above US$ 6,000
Wheel Size
- Below 20"
- 20"-24"
- 26"
- 27.5"
- Others
End Use
- Courier and Parcel Service Provider
- Large Retail Supplier
- Personal Transportation
- Service Delivery, Waste, Municipal Services
Cargo Bike Market Regional Analysis/Insights
The cargo bike market is analyzed and market size insights and trends are provided by country, product type, propulsion, price, wheel size and end use as referenced above.
The countries covered in the cargo bike market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the cargo bike market because of the presence of high quality infrastructure for the electric cargo bikes along with presence of cargo bike manufacturers within the region.
North America is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increased investments in product pipelines in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cargo Bike Market Share Analysis
The cargo bike market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cargo bike market.
Some of the major players operating in the cargo bike market are
- Jiangsu Xinri E-Vehicle Co. Ltd. (China)
- Jinhua Jobo Technology Co., Ltd. (China)
- CERO Electric Cargo Bikes (US)
- Worksman Cycles. (US)
- DOUZE Factory SAS (France)
- XYZ CARGO (US)
- Butchers & Bicycles ApS (Denmark)
- NIHOLA (Denmark)
- Babboe (UK)
- Yuba Bicycles LLC (US)
- LUXMEA (China)
- Chongqing Mobimax Technology Co., Ltd. (China)
- Riese & Müller GmbH (Germany)
- Urban Arrow (Netherlands)
- Rad Power Bikes (US)
- Tern (Taiwan)
- Pedego (US)
- Xtracycle Cargo Bikes (US)
- Amsterdam Bicycle Company (Netherlands)
- Triobike A/S (Denmark)
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