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E-Cargo Bike Market Trends

Report ID: GMI8498
Published Date: Mar 2024
Report Format: PDF

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E-Cargo Bike Market Trends

The emerging trend of sleeker designs and appealing aesthetics, coupled with the integration of advanced safety features is propelling the expansion of the e-cargo bikes industry. Consumers are increasingly drawn to visually appealing designs that blend seamlessly into urban environments with safety features for providing peace of mind during city commutes. This combination of style and security is enhancing the overall appeal of e-cargo bikes, fostering its increased adoption among businesses and individuals. For instance, in February 2024, Gocycle unveiled a stylish electric cargo bike featuring race-inspired innovations, adding sophistication and practicality to urban transportation options.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of e-cargo bike reached USD 3.3 billion in 2023 and is set to witness 3% CAGR from 2024-2032, owing to the combination of increasing urban population and the demand for efficient last-mile delivery solutions worldwide.

The Li-ion segment was over USD 2 billion revenue in 2023, due to its superior performance and efficiency, offering high energy density, enabling longer riding ranges and quicker recharging times.

Asia Pacific market held over 60% of the revenue share in 2023, attributed to rapid urbanization and strong focus on sustainable transportation solutions in the region.

Accell Group, Butchers & Bicycles, Douze Cycles, Hero Lectro, Rad Power Bikes, LLC, Tern, Trek Bicycles, WorkCycles, XYZ Cargo, and Yuba Bicycles, are some of the major e-cargo bike companies worldwide.