Cargo Bicycles Market is presently valued at USD 2,406.9 million and is expected to amplify at a CAGR of 22.3% over 2022-2030
One kind of bicycle that is propelled by human or electric power is the cargo bike. Large objects and two or more passengers can be transported on bikes (Children). The bikes can have two or three wheels and vary in size and shape, often having a longer wheelbase than a standard bicycle. They also include space for carrying things in the front or the back. Electric cargo bikes have a function called pedal assistance that makes carrying heavy loads more comfortable and hill climbing easier. Cargo bikes can be modified by adding child bike seats, panniers, boxes, rain covers, footrests, or even racks for a surfboard or paddleboard to meet specific carrying needs.
The e-commerce boom and the epidemic have increased the appeal of home delivery of products and services. Similar to this, businesses and industries are increasing their expenditures on logistics and transportation in order to decrease downtime, cut costs, and enhance customer satisfaction. Commodity movement has been impeded and slowed down by traffic congestion, which has expanded in tandem with the growth of the metropolitan population and the number of vehicles on the road. Delivering goods and services on schedule while avoiding traffic is very easy when using cargo bikes. Cargo bikes are becoming increasingly widely used in a variety of industries for moving goods, which will drive the cargo bike industry, as people become more aware of how environmentally friendly, economical, and quick they are.
COVID-19 Impact on Cargo Bike Market
Lockdowns that have been imposed in a number of countries have hurt the market. Challenges include limited manufacturing and transportation-related delays brought on by travel restrictions. Up to 2021, recovery is anticipated to be sluggish as the new coronavirus continues to decimate the sector.
To meet demand, several e-commerce and logistics companies are increasing the fleet size of their cargo bikes, continuing to invest in the necessary product delivery. The economies are progressively recovering from the pandemic despite the challenges. Given this, it is unlikely that the pandemic will affect the cargo bike industry in the long run.
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Global Cargo Bicycles Market- Segmental Assessment
By Product
- Two-Wheeled
- Three-Wheeled
- Four-Wheeled
By Type
- Electric
- Non-electric
By Wheel Size
- Below 20’’
- 20’’-24’’
- 25’’-28’’
- Above 28’’
By Application
- Personal
- Commercial
- Others
Prominent Market Players:
DOUZE Factory SAS, XYZ CARGO, Butchers & Bicycles ApS, NIHOLA, Babboe, Yuba Electric Cargo Bikes, BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Carqon (Accell Group N.V.), XCYC (Gemeinnützige Werkstätten und Wohnstätten GmbH), Riese & Müller GmbH, Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings, Ltd.), Pedego Electric Bikes, Xtracycle Inc., Amsterdam Bicycle Company, Triobike, Pashley Cycles, Worksman Cycles, Jinhua Jobo Technology Co., Ltd., Cero Electric Cargo Bikes, and Nijland Cycling.
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