PUBLISHER: Market Research Future | PRODUCT CODE: 1679123
PUBLISHER: Market Research Future | PRODUCT CODE: 1679123
Report onEurope & APAC Cargo Bike Market Research Information by Product Type (Two-wheeled, Three-wheeled, and Four-Wheeled), By Propulsion (Conventional, and Electric) By Price (Below US$ 1,500, US$ 1,500-3,500, US$ 3,501-6000, and Above US$ 6,000) By End Use (Courier and Parcel Service Provider, Large Retail Suppliers, Personal Transportation, Municipal Waste Management Services, and Others) By Sales Channel (Online, and Offline) and By Region (Europe, and Asia-Pacific) Forecast Till 2032
The market for cargo bikes is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2024 to 2032, from USD 1,799.4 million in 2023 to USD 3,683.4 million by 2032.
Both the global and micro markets for freight bikes are expanding significantly. The government's support and incentives for environmentally friendly transportation are crucial at the top. Several governments throughout the world have been implementing rules that encourage the usage of electric vehicles, such cargo bikes, in the current global environment. In addition to providing financial advantages, the policies encourage infrastructure improvements, which facilitates enterprises' and customers' access to environmentally friendly transportation options.
Additionally, the demand for electric bikes-and thus, electric cargo bikes-is rising. Urban cities' aggregation of areas has made more sustainable and effective delivery essential. Because they combine the enjoyment of traditional cycling with the ability to transport products, electric cargo bikes seem like a very practical solution that will appeal to both business and environmentally conscious consumers.
Perspectives on Market Segments:
Two-wheeled, three-wheeled, and four-wheeled bikes are included in the Europe & APAC Cargo Bike Market segmentation based on Product Type.
The market is divided into two segments based on propulsion: conventional and electric.
The Europe and APAC Cargo Bike Market is divided into four segments based on price: Below US$ 1,500, US$ 1,500-3,500, US$ 3,501-6000, and Above US$ 6,000.
Large retail suppliers, personal transportation, municipal waste management services, courier and parcel service providers, and others make up the market segmentation based on the end use.
The market is divided into two segments based on the sales channel: online and offline.
Regional Perspectives
The analysis offers market insights for Asia-Pacific and Europe by region. At over 68.9% of the market, the Europe Cargo Bike market holds a sizable market share in 2023.
The market for cargo bikes in Europe is growing quickly as cities get bigger and more people opt for environmentally friendly modes of transportation. European governments provide financial assistance schemes to reduce the cost of cargo bike purchases for both individuals and enterprises. Germany By promoting bike lanes and traffic-free zones, France and the Netherlands set the standard for bicycle infrastructure. Since electric cargo bikes can help replace traditional transportation methods, customers in crowded metropolitan areas desire to purchase these environmentally beneficial vehicles. Because electric cargo bikes provide better tourist experiences and easier city mobility, tourism development aids in market expansion.
Accell Group N.V., Bakfiets.nl, DOUZE Factory SAS, Rad Power Bikes, Butchers & Bicycles, Babboe, Yuba Bicycles, Tern Bicycles, Riese & Muller, RYTLE GmbH, Smart Urban Mobility B.V., and others are important players in the cargo bike market.