“Global Electric Cargo Bike Market: Growth, Outlook, and Competitive Analysis, 2018 – 2030” is the most recent market study released by Credence Research, Inc. The global Electric Cargo Bike market had revenue of about USD 1.3 billion in 2022, and it is predicted to increase at a CAGR of more than 35.2% from 2018 to 2030, reaching about USD 11.1 billion.
Market Overview
The primary element influencing the market CAGR for electric cargo bikes is the rising level of environmental consciousness globally. Industry growth has been significantly impacted by rising government spending to promote the use of renewable energy sources and environmentally friendly substitutes. Compared to two-wheelers, the market for three-wheeled cargo bikes is expanding more quickly. It is expected that the quickening pace of technology development and innovations to provide accessible and low-emission transportation solutions will be advantageous for industry growth.
Due to increased product development spending to produce bikes with great performance, significant load-carrying capacity, and low maintenance requirements, the market for electric cargo bikes is growing. The rise in bike technological advancements is one of the market trends for electric cargo bikes, encouraging the industry’s growth. But these bikes’ limited range and slow speed are two major obstacles limiting electric cargo motorcycles’ market share. Rising environmental regulations in the European Region would also create significant prospective chances for the market revenue for electric cargo bikes over the expected timeframe from 2022 to 2030.
Top Manufacturers Profiles
- Accell Group NV
Bicycle manufacturer Accell Group NVNV is situated in Heerenveen, Netherlands. In addition to Raleigh, Sparta, Torker, Tunturi, Van Nicholas, Winora, and XLC components also own the bicycle brands Atala, Babboe, Batavus, Carraro Cicli, Ghost, Haibike, KOGA, Lapierre, Loekie, Nishiki, and Atala. About 1.1 million bicycles are sold by Accell annually, primarily in the American and European markets. Accell lost the rights to sell bicycles through the sporting goods retailer Dick’s in 2017. As a result, there was a net loss of around $6 million every year. Accell sold Diamondback, Redline, and IZIP electric bikes to Regent, LP, in August 2019. Accell and Regent also disclosed a two-year distribution agreement for Raleigh, Haibike, and Ghost, all of which Accell still owns.
- Aima Technology Group Co. Ltd
Vehicles are made by AIMA Technology Group Co., Ltd. AIMA Technology Group Co Ltd is a Chinese business that specializes in the creation, production, and selling of electric bicycles. The company produces electric tricycles, four-wheelers, sightseeing cars, recreational vehicles, and other equipment. All around China, AIMA Technology Group markets its goods.
- DOUZE Factory SAS
Both aesthetically pleasing and useful, DOUZE Cycles’ cargo bikes are designed and produced.
DOUZE Cycles are capable of operating in any situation. Anything is feasible, including driving the kids to school, shopping, and moving products. In Burgundy, their team creates, plans, and assembles the best caliber bicycles and accessories. Their work is centered on innovation for comfort and safety.
- Jiangsu Xinri E-Vehicle Co. Ltd
Electric vehicle development, production, and sales are all activities carried out by Jiangsu Xinri E-Vehicle Co., Ltd. in China. Jiangsu Xinri E-Vehicle Co Ltd primarily works in green transportation research, development, manufacturing, and sales in China. Its core offerings include non-motorized vehicles, electric bicycles, sightseeing cars, electric tricycles, and other products.
- Jinhua Jobo Technology Co.
A division of Jiabao Vehicle Co., Ltd with twenty years of experience in the automotive sector is Jinhua JOBO Technology Co., Ltd. Jiabao (JOBO), which has undergone steady development for twenty years, is now among the top manufacturers of electric bikes, tricycles, and scooters. A major producer and supplier of electric skateboards, electric bikes, beach cruisers, Dutch bikes, and mountain bikes are Jinhua JOBO Technology Co., Ltd. We welcome anyone who wants to collaborate with us and wholesale our reasonably priced and uniquely made goods.
- Pedego Electric Bikes
The most popular electric bike brand in the US is Pedego® Electric Bikes. The 250- to 500-watt motors on Pedego electric bikes, available at more than 200 Pedego-branded stores and hundreds of independent electric bike dealers worldwide, allow riders to easily navigate hills and headwinds while traveling up to 60 miles on a single battery charge. While Pedal Assist automatically adds force to the rider’s pedaling, the twist-and-go throttle instantly allows riders to manage their speeds manually. Pedego’s innovative, high-quality “pedal or not” models include cruisers, tandems, commuters, fat-tire bikes, mountain bikes, cargo cycles, and an easy-to-use electric folding bike. They are all available in hundreds of color combinations. Electric bikes from Pedego change lives with joy and excitement by providing transportation, exercise, and fun.
- Rad Power Bikes
Since its sole proprietorship founding in 2007, Rad Power Bikes has grown to become the leading electric bike manufacturer in North America. We rely on hundreds of designers, engineers, and support personnel to ensure that all 450,000+ customers ride the greatest electric bikes available. Only Class 2 electric bicycles are produced by Rad Power Bikes. Depending on the amount of power utilized, the type of terrain being traveled on, and the weight of the rider and load, the batteries on all of its electric bikes range from 45 to 50 miles per charge.
- Riese & Müller
Markus Riese and Heiko Müller started the German bicycle company Riese & Müller in Darmstadt. It creates and manufactures bicycles that hang. Companies like Taiwan’s Pacific Cycles create frames. Their entire fleet of bicycles is hand-built in Germany. To offer Hot Ears, earmuffs that keep the ears warm while wearing a helmet, Riese & Müller was established in 1993. As a university project, Heiko Müller’s parents’ garage was the birthplace of the first bicycle, a folding model known as the Birdy.
- Tern Bicycles
The creators of the well-known Dahon brand of folding bicycles, David T. Hon’s wife and son, Florence Shen and Joshua Hon, founded Tern. Dahon and the company’s founders first engaged in legal action against one another, but in 2013 a settlement was struck. Bicycles for everyday use are designed, produced, marketed, and sold by Tern, a privately held firm. The business includes offices in the US, China, Finland, and the UK and its headquarters in Taipei, Taiwan. Folding bicycles, electric bicycles, and cycling accessories are the company’s main offerings, and they are currently available in 65 countries.
Browse the market research report covering the full company profiles, size, trends, strategies @ Electric Cargo Bike Market
