Cargo Bike Market Future Trends, Industry Size and Forecast to 2031

The global demand for cargo bikes is expected to rise at 10.8% year-on-year in 2021 with sales reaching over US$ 900 million. Future Market Insights (FMI) projects the cargo bike market to grow at 11.6% CAGR between 2021 and 2031.

With the rise of e-commerce operations, logistical flows are witnessing significant expansion, creating transport and time-sensitive operational challenges. According to a recent report by Future Market Insights (FMI), the global cargo bike market is projected to expand at CAGR of around 11.6% over the forecast period 2021-2031.

Sustainable urban logistics development is becoming increasingly vital to keep up with quality-of-life parameters in urban centres, while solving two major problems—congestion and poor air quality. These factors are critical to sales of cargo bikes.

Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13678

The usage of cargo bikes as a mode of transportation for urban freight flows has a favourable impact on these issues, compelling manufacturers to invest more in the manufacturing sector, thereby fuelling the demand for cargo bikes in the long term.

Increasing monetary and non-monetary incentives are encouraging the adoption of battery-operated cargo bikes. Moreover, the need for sustainable urban mobility and modern transportation is driving the transition from conventional fuel bikes to paddle assisted and battery assisted cargo bike for mode of transport.

FMI projects demand among courier and parcel services providers to rise at 11.8% over the assessment period. Focus on curbing carbon footprint by the industry will remain a chief growth driver. Cargo bikes are anticipated to have a positive influence on energy security and air quality.

Key Takeaways from Cargo Bike Market Study

  • Three wheeled cargo bikes are anticipated to account for 423 Mn by the end of 2021, owing to courier delivery, personal transport, and warehouse transport applications.
  • US$ 3,501-6,000 price range segment sales accounted for US$ 414 Mn supported by availability of electric and conventional cargo bikes.
  • Germany leads the Europe market with a US$ 253.8 Mn sales figure in 2021 because of ease availability of raw material and government incentives.
  • The U.S. will hold around 92% of the North America market through 2031, supported by the presence of major logistics players in the country.
  • In 2021, the Brazil cargo bike market will rise at steady 6.1% CAGR, with investments into low cost logistics gaining ground in the country.

“The global rise in traffic congestion coupled with growing demand from the logistics sector, especially following the outbreak of the COVID-19 pandemic is expected to drive the market for cargo bikes, through the end of 2031” says a Future Market Insights analyst.

Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-13678

Competitive Landscape

The global cargo bike market is highly competitive at regional, country, as well as global level, and highly fragmented in nature. Top companies operating in the market contribute notably to revenue generation. With compliance to governmental standards and regulations, these companies have a global brand presence.

Some of the key players included in the report are Accell Group N.V. (Carqon), Jinhua Jobo Technology Co., Ltd., BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Mobility Holdings, Ltd. (Tern Bicycles), Riese & Müller GmbH, Urban Arrow, Worksman Cycles, Yuba Electric Cargo Bikes, Rad Power Bikes Inc., and others.

Cargo Bike Market by Category

By Product Type:

  • Two Wheeled
  • Three Wheeled
  • Four Wheeled

By Propulsion:

  • Conventional
  • Electric

By Price:

  • Below US$ 1,500
  • US$ 1,500-3,500
  • US$ 3,501-6000
  • Above US$ 6,000

By Wheel Size:

  • Below 20″
  • 20″-24″
  • 26″
  • 27.5″
  • Others

By End Use:

  • Courier & Parcel Service Provider
  • Large Retail Supplier
  • Personal Transportation
  • Service Delivery
  • Waste, Municipal Services

Speak to our Research Expert: https://www.futuremarketinsights.com/ask-question/rep-gb-13678

Report Coverage:

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Key Points Covered in the Cargo Bikes Market Study

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Cargo Bikes Market and How to Navigate
  • Recommendation on Key Winning Strategies

Top Reports Related To Automotive Market Insights

Automotive Pump Market : A study by Future Market Insights (FMI) on automotive pump market has forecast it to reach US$ 106.0 Mn by the end of 2031, growing at a CAGR of 6.1% over the forecast years (2021-2031).

Aircraft Cabin Interior Market : According to FMI, the market is forecast to grow at a CAGR of 2.70% between 2021 and 2031.

Compact E-Scooter Market : is expected to be valued at US$ 626.8 million in 2022 and is likely to reach US$ 806.3 million by 2032 – Comprehensive Research Report by FMI

Connecting Rods Market : will increase at a 4.8% CAGR, with the total connecting rod market size reaching US$ 11.7 Bn by 2032 – Comprehensive Research Report by FMI

Automotive Sunroof Market : is expected to expand at a CAGR of 11% to reach a valuation of US$ 19 Bn by 2032 – Comprehensive Research Report by FMI

Tire Pressure Monitoring System Market : was valued at US$ 2.7 Bn in 2021 and is expected to reach US$ 7.7 Bn by 2032 – Comprehensive Research Report by FMI

Automotive Engineering Services Market is likely to cross US$ 348 Bn by the end of 2032 – Comprehensive Research Report by FMI

Compact Road Sweepers Market is likely to be valued at US$ 6.9 Billion in 2032 – Comprehensive Research Report by FMI

Front forks Market  to reach a valuation of US$ 68.33 Billion by 2032 – Comprehensive Research Report by FMI

Transit Station Display Boards Market is likely to cross US$ 206.72 Bn by the end of 2032 – Comprehensive Research Report by FMI

Marine Shackle Market is likely to register a CAGR of 3.5% during the forecast period – Comprehensive Research Report by FMI

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs

Leave a comment

Your email address will not be published. Required fields are marked *