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Cargo Bike Market Share

Report ID: GMI5388
Published Date: Oct 2024
Report Format: PDF

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Cargo Bike Market Share

Rad Power Bikes, Tern Bicycle, Riese & Müller, Raleigh UK, Giant, Babboe, and Carqon held a substantial market share of 20% in the cargo bike industry in 2023. Giant Bicycles maintains competitiveness in the cargo bike market by leveraging its global presence and strong manufacturing capabilities. Known for innovation, Giant has expanded its electric bike lineup, including cargo bikes, to meet the growing demand for eco-friendly urban transport solutions.

The company focuses on offering high-quality, durable bikes with advanced technologies such as integrated motor systems and long-lasting batteries. Giant also emphasizes customer service and dealership networks, ensuring comprehensive support for both individual and commercial buyers.

Rad Power Bikes leads in the electric cargo bike market, differentiating itself through direct-to-consumer sales and affordable pricing. By offering customizable electric cargo bikes such as RadWagon, Rad Power Bikes appeals to both businesses and individuals seeking versatile transport solutions. The company focuses on innovation, providing long-range batteries, integrated motor systems, and modular designs. Its strong online presence, alongside community-building initiatives and customer-centric policies, has helped Rad Power Bikes maintain a competitive edge in the growing e-mobility market.

Cargo Bike Market Companies

Major players operating in the cargo bike industry are:

Babboe
Butchers & Bicycles
Carqon
Giant
Rad Power Bikes
Raleigh UK
Riese & Muller
Tern Bicycle
Urban Arrow
Yuba Bicycles

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of cargo bike reached USD 3.3 billion in 2023 and is set to grow at a 3% CAGR from 2024 to 2032, driven by the integration of cargo bikes into urban micro-mobility hubs.

The offline sales channel dominated the market with USD 2.2 billion in 2023, due to the need for direct product interaction and personalized consultation.

China accounted for 84% of the revenue share in the market in 2023, attributed to favorable government policies and rapid urbanization.

Major players in the industry include Babboe, Butchers & Bicycles, Carqon, Giant, Rad Power Bikes, Raleigh UK, Riese & Muller, Tern Bicycle, Urban Arrow, and Yuba Bicycles.