Substantial potential for cycle logistics to pedal up the sales of electric cargo bikes, predominantly in Europe.
Global Electric Cargo Bikes Market: Introduction
In urban cities, the vast range of logistic deliveries consist of small shipments over short distances. In order to minimize adverse ecological, social, and economic effects, a mode-shift from combustion engine vehicles to electric cargo bikes has been suggested. Electric cargo bikes are the ultimate type of bicycles developed to carry cargo, or sometimes, people. Importantly, an electric cargo bike with lightweight construction and a sleek design makes an incredibly smooth and stable ride. With the assistance of a battery and electric motor, an electric cargo bike is much easier to operate. On an electric cargo bike, the rider does not experience fatigue which encourages its further adoption. Further, lower running costs, significant speed despite congestion, lower environmental impact, and social inclusion are the key advantages of using electric cargo bikes rather than other mediums to transport goods. On the other hand, limited range and payload are considered to be disadvantages as far as electric cargo bikes are concerned.
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Subsequently, the aim of the study is to analyze the most recent trends and dynamics in the global electric cargo bikes market.
Global Electric Cargo Bikes Market: Dynamics
Newly developed vehicles, in combination with the search for lower emission transport alternatives, have contributed to the promotion of electric mobility and the expansion of the niche market – electric cargo bikes. Further, socio-economic variables, demographic patterns, and personal attitudes among customers delineate the future demand for electric cargo bikes across the globe. According to the recent trend, as transport demand for e-Commerce surges, it reinforces the positive outlook for the electric cargo bikes market. It has been analyzed that, battery size and purchase price of electric cargo bikes are impeding factors to their broader use. Also, lack of regulatory measures and inefficient infrastructure are hampering the demand for electric cargo bikes.
In addition to that, compact, lightweight, and high power electric cargo bikes are mostly developed by manufacturers in order to ensure customer satisfaction. Online retailing is the predominantly preferred purchasing option cited in the global electric cargo bikes market.
Global Electric Cargo Bikes Market: Segments
The global electric cargo bikes market can be segmented on the basis of product type, frame material, battery type, end use, and region.
On the basis of product type, the global electric cargo bikes market can be segmented as:
- Two-wheeled
- Three-wheeled
On the basis of frame material, the global electric cargo bikes market can be segmented as:
- Aluminum
- Steel
- Carbon Fiber
On the basis of battery type, the global electric cargo bikes market can be segmented as:
- Lead-based
- Nickel-based
- Lithium Ion
On the basis of end use, the global electric cargo bikes market can be segmented as:
- Courier & Parcel Service Providers
- Large Retail Suppliers
- Personal Transportation
- Service Delivery
- Others (Waste, Municipal Services)
Global Electric Cargo Bikes Market: Regional Outlook
In Western Europe, electric cargo bikes are predominantly used for courier logistics. Germany continues to remain at the forefront in terms of growth for the regional electric cargo bikes market. The U.K. government has announced a series of investments to support the deployment of electric cargo bikes. Germany and the Netherlands are considered as cycling countries, and hence, the electric cargo bikes market is mature in these countries. France, Spain, and other countries are expected to observe market growth in electric cargo bikes. North America is likely to support the growth of the electric cargo bikes market in the upcoming period of time.
In China, SEAP, and India, local authorities and governments should procure electric cargo bikes. Additionally, the electric cargo bikes market in these region are in a nascent stage. As such, they require new and better infrastructure in order to enable faster and safer logistic operations.
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Global Electric Cargo Bikes Market: Key Participants
List of some of the prominent market participants in the global electric cargo bikes market discerned across the value chain include:
- Pedego Electric Bikes
- Yuba Electric Cargo Bikes
- Worksman Cycles
- Riese & Müller GmbH
- Mobility Holdings, Ltd.
- Rad Power Bikes LLC
- CERO Electric Cargo Bikes
- Gobax
- Babboe
- Xtracycle Inc.