Cargo Bicycle Industry Overview
The global cargo bicycles market size was valued at USD 1,838.3 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 22.3% from 2022 to 2030. Increased demand for fleets for freight delivery, coupled with the need for environmentally safe transport alternatives, has propelled the demand for cargo bikes in urban areas. Logistics and transportation are integral to implementing seamless freight deliveries and simplifying deliveries in an urban infrastructure across the world.
An increase in freight deliveries and the movement of goods has impacted the environment by aggravating pollution, noise, traffic congestion, and vibration. These circumstances have interrupted the inhabitants of cities globally. To mitigate the concerns mentioned above and ensure sustainable transport practices, high demand for cargo bikes has been witnessed worldwide.
Gather more insights about the market drivers, restraints, and growth of the Global Cargo Bicycle Market
These bikes are an eco-friendly alternative to traditional means of transportation used for last-mile deliveries and general logistic services. They can significantly replace freight delivery trips and impact the urban distribution system by offering low-cost, environment-friendly solutions to cater to the delivery demands of small-surface stores and the HORECA (hotel, restaurants, and catering) sector.
Electric cargo bicycles are efficient in delivering couriers when compared to vans in densely populated and urban areas. These bicycles also significantly minimize emissions and carbon footprint and are more viable than electric vans. Rising government support for low-carbon and clean air initiatives has fueled the adoption of cargo bicycles, enabling low-traffic neighborhoods (LTNs) in urban centers. During the coronavirus pandemic, the proliferation of home deliveries and online shopping activities increased significantly.
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Bicycle Market - The global bicycle market size was valued at USD 64,625.7 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030.
Micro-mobility Market - The global micro-mobility market size to be valued at USD 69.32 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 13.7% during the forecast period.
Cargo Bicycle Industry Segmentation
Grand View Research has segmented the global cargo bicycles market on the basis of product, type, wheel size, application, and region.
Cargo Bicycles Product Outlook (Revenue, USD Million, 2017 - 2030)
- Two-Wheeled
- Three-Wheeled
- Four-Wheeled
Cargo Bicycles Type Outlook (Revenue, USD Million, 2017 - 2030)
- Electric
- Non-electric
Cargo Bicycles Wheel Size Outlook (Revenue, USD Million, 2017 - 2030)
- Below 20"
- 20"-24"
- 25"-28"
- Above 28"
Cargo Bicycles Application Outlook (Revenue, USD Million, 2017 - 2030)
- Personal
- Commercial
Cargo Bicycle Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
December 2021: FedEx expanded its fleet of e-cargo bicycles across the U.K. The company has included the cities of Cambridge, Edinburgh, and Glasgow in its mission of zero-emission delivery.
September 2021: The Dublin City Council partnered with Bleeper to launch a cargo bicycle scheme, allowing local businesses to purchase e-cargo bicycles at a discounted rate. These e-cargo bicycles enable businesses to leverage a low-cost, low-risk, environment-friendly, and sustainable solution.
Key Companies profiled:
Some prominent players in the global Cargo Bicycle Industry include
- Smart Urban Mobility B.V.
- Xtracycle
- Tern
- Rad Power Bikes
- Worksman Cycles
- Yuba Bicycles LLC
- Cycles Maximus Ltd.
- Triobike A/S
- Elian Cycles
- Surly Bikes
Order a free sample PDF of the Cargo Bicycle Market Intelligence Study, published by Grand View Research.
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