E-cargo Bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 2.01 Billion |
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Market Size (2029) | USD 2.92 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 7.73 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
E-cargo Bike Market Analysis
The E-cargo Bike Market size is estimated at 2.01 billion USD in 2024, and is expected to reach 2.92 billion USD by 2029, growing at a CAGR of 7.73% during the forecast period (2024-2029).
2.01 Billion
Market Size in 2024 (USD)
2.92 Billion
Market Size in 2029 (USD)
17.16 %
CAGR (2017-2023)
7.73 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
74.83 %
value share, Pedal Assisted, 2023
Factors like easy buying, high load capacity, less tiredness, less maintenance, and no license requirement make pedal assist the largest segment for cargo bikes.
Fastest Segment by Propulsion Type
10.01 %
Projected CAGR, Speed Pedelec, 2024-2029
Speed pedelecs e-bikes are the fastest growing among all e-bike categories owing to their advantages like faster durability and the ability to commute long distances faster than their counterparts.
Largest Segment by Battery Type
76.40 %
value share, Lithium-ion Battery, 2023
The rising usage of lithium-ion batteries in e-bicycles is due to factors like cutting-edge technology, higher range options, long battery lifespan, and quick charging features.
Largest Country
40.07 %
value share, China, 2023
With strong government support in terms of policy and financing, deploying e-cargo bikes for various uses has made China the largest country for e-bikes.
Leading Market Player
12.52 %
market share, Aima Technology Group Co. Ltd, 2022
Aima is the global market leader in the cargo/utility e bike category due to its strong brand awareness, wide product offering including cargo/utility e bikes along with great supply chain network.
Propulsion Segment Market Overview
- Electric cargo bike sales recorded a CAGR of 17.16% between 2017 and 2023, with developed nations like Germany, the United Kingdom, France, and the United States accounting for a sizable percentage of the worldwide market. As cities struggle with traffic congestion that causes noise and air pollution, the electric cargo bike and bicycle logistic sectors are emerging as a useful, sustainable, non-congested, and inclusive alternative for first- and last-mile deliveries, general logistical service provision, and family vehicles.
- North America is the fastest-growing e-commerce market in the world and presents special logistics challenges compared to other regions due to its fraught geography and sprawling urban landscapes. The Mexican e-commerce market reached USD 37.99 billion in 2022. However, companies like Mexican transportation and logistics Estafeta implemented its "green deliveries" in late 2017, featuring e-bikes for last-mile deliveries in certain cities. Such steps are expected to increase the usage of the e-cargo bike in recent years.
- An increase in online orders is driving the growth of the last-mile delivery business. Governments should welcome technological innovation and change to reduce reliance and become more sustainable in the future. Because of the tremendously dense population in Asian countries such as China, India, and Japan, e-cargo bikes are expected to be the most practical and eco-friendly option in the future.
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Country Level Overview
- The global e-cargo bike market is projected to witness a CAGR of 7.73% during the forecast period, mainly due to the increasing adoption of e-bikes as a daily mode of transportation globally. The market has witnessed an upsurge in the unit sales of e-bikes due to their beneficial characteristics, such as health benefits, economic mobility options, and convenience in riding.
- In Asia-Pacific China, Japan, and Indonesia accounted for a major share of the overall unit sales during the historical period. China held over 90% volume share in the global e-bike market in 2022. However, it has witnessed stagnant growth since, and the market is almost at a saturation point.
- In Europe, e-bike sales skyrocketed in recent years, with countries including Germany, Belgium, and the Netherlands selling major units of e-bikes. This is due to the growing preference for using e-bikes for transportation, sports, and leisure activities. Additionally, the subsidies and tax incentives programs on e-bikes in Sweden, Belgium, and France are anticipated to further support the significant growth of the European e-bike market during the forecast period.
- In North America, the e-bike market is emerging as the preference for using low-speed two-wheelers has grown in recent years. The increased inclusion of more e-bikes by various bike-sharing operators as part of their fleet expansion is expected to support the sales growth of these bikes in the near future.
Global E-cargo Bike Market Trends
The steady global increase in e-bike adoption rates reflects a worldwide shift towards sustainable and efficient personal mobility solutions.
- There has been an increase in demand for electric bicycles in many countries over the past several years. Increased gasoline costs, traffic congestion during rush hours, and the health advantages of exercise are driving the usage of e-bikes in several countries, including the United Kingdom and the United States. With a greater adoption rate in 2019 compared to other regions, Europe is the primary market for the selling of electric bikes. The increasing demand for e-bikes accelerated the adoption rate in 2019 compared to 2018.
- The bicycle industry was favorably impacted by the rapid global expansion of the covid cases and wave. E-bikes are one of the most practical and affordable solutions for everyday commutes to work and other local locations compared to other means of transportation, which has revolutionized how consumers commute. This has encouraged people to invest in e-bikes, which accelerated the adoption rate in 2020 over 2019 in various countries across the globe.
- The return of commercial operations and the lifting of trade restrictions like lockout have accelerated the adoption of e-bikes in numerous countries throughout the world. The improvement of import and export activity has been a result of the removal of trade obstacles globally. According to estimates, during the forecast period, the adoption rate of e-bikes will increase in a number of countries around the world due to consumers' growing interest in them as a result of their features and advantages, such as the ability to exercise while riding, the lack of a fuel cost, and cleaner rides.
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The global Hyper-Local Delivery market is on a significant upward trend, driven mainly by substantial volumes in the US and Asia-Pacific regions, especially China.
- E-bikes are becoming increasingly popular in several countries across the world. Due to the increased online shopping, pollution and traffic congestion have increased significantly over the past five years. Due to these circumstances, online merchants are choosing the quicker and greener option of e-bike deliveries. Globally, APAC recorded the highest number of e-bike deliveries, followed by North America. These factors account for the global increase in the use of e-bikes for local deliveries in 2019 over 2018.
- Focusing on e-bike market expansion, the government's efforts in the form of rebates and subsidies are also supporting the global e-bike market. For instance, in North America, the government provides incentives worth USD 1000, encouraging people to choose e-bikes. These factors are driving the demand for e-bikes, which has led to a 19.70% growth in e-bike deliveries in North American countries in 2021 over 2020. Similar factors drove global growth in e-bike delivery units in 2021 over 2020.
- The e-bike business is exploding in many nations across the world due to the cost advantages of electric bikes over other fuel-powered vehicles. Businesses are investing in e-bikes for local deliveries because of advantages like time efficiency, fuel efficiency, environmental friendliness, and lower maintenance costs. The use of e-bikes for last-mile local deliveries is anticipated to rise during the forecast period due to the aforementioned factors.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- GDP Per Capita & Buying Power of Consumer
- A global uptick in 5-15 km commutes underscores a universal shift towards moderate commuting distances, aligning with evolving work-life dynamics and urban planning.
- The global E-Bike battery price is on a downward trend, influenced by regional dynamics and significant contributions from Asia-Pacific and Europe.
- Advanced Battery Packs is Attracting Consumers to Opting for E-bikes
- Key countries' varying inflation trajectories underscore the nuanced and multifaceted nature of global economic health.
- The global bicycle rental market exhibits a robust growth trajectory, with significant contributions from Asia-Pacific and Europe, driving the worldwide market trend upwards.
- Government Efforts to Provide Bicycle infrastructure to increase the Use of Bicycles
- As Traffic and Pollution increase, more individuals are Choosing to Bicycle
E-cargo Bike Industry Overview
The E-cargo Bike Market is fragmented, with the top five companies occupying 34.42%. The major players in this market are Accell Group NV, Aima Technology Group Co. Ltd, Riese & Müller, RYTLE GmbH and Yadea Group Holdings Ltd (sorted alphabetically).
E-cargo Bike Market Leaders
Accell Group NV
Aima Technology Group Co. Ltd
Riese & Müller
RYTLE GmbH
Yadea Group Holdings Ltd
Other important companies include Bakfiets.nl, DOUZE Factory SAS, Jiangsu Xinri E-Vehicle Co. Ltd, Jinhua Jobo Technology Co., Pedego Electric Bikes, Rad Power Bikes, Smart Urban Mobility B.V, Tern Bicycles, The Cargo Bike Company, Xtracycle Inc., XYZ CARGO, YUBA BICYCLES LLC.
*Disclaimer: Major Players sorted in alphabetical order.
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E-cargo Bike Market News
- October 2022: Douze Cycles, a French business, has launched a cargo bike series consisting of four models, three of which incorporate electric help. The range of bikes boasts an outstanding hauling capacity of up to 205 kg.
- August 2022: The company released MovR3, the newest model of the cargo bike for urban areas. The MovR3 acts as an e-pedelec with a speed range of up to 25 km/h.
- June 2022: Tern launched NBD, a low-step e-bike with a maximum gross vehicle weight of 140 kg and can handle up to 27 kg on the rear rack, and up to 20 kg on a front rack.
Free with this Report
We offer a comprehensive and complimentary collection of data points on regional and country-level metrics, crucial to understanding the industry's core structure. Our resources include over 120 free charts, providing rare data across various countries. This collection encompasses an analysis of e-bike outlets, distribution channels, and their geographical distribution, examination of average selling prices for different e-bike models across regions, insights into consumer preferences and purchasing patterns, a detailed segmentation of the market, comprehensive insights into market trends and environmental impacts, an overview of key market players, an examination of the regulatory landscape, and projections for the future of the e-bike market.
E-cargo Bike Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Bicycle Sales
- 4.2 GDP Per Capita
- 4.3 Inflation Rate
- 4.4 Adoption Rate Of E-Bikes
- 4.5 Percent Population/Commuters With 5-15 Km Daily Travel Distance
- 4.6 Bicycle Rental
- 4.7 E-Bike Battery Price
- 4.8 Price Chart Of Different Battery Chemistry
- 4.9 Hyper-Local Delivery
- 4.10 Dedicated Bicycle Lanes
- 4.11 Battery Charging Capacity
- 4.12 Traffic Congestion Index
- 4.13 Regulatory Framework
- 4.14 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Propulsion Type
- 5.1.1 Pedal Assisted
- 5.1.2 Speed Pedelec
- 5.1.3 Throttle Assisted
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5.2 Battery Type
- 5.2.1 Lead Acid Battery
- 5.2.2 Lithium-ion Battery
- 5.2.3 Others
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5.3 Region
- 5.3.1 Africa
- 5.3.1.1 By Country
- 5.3.1.1.1 South Africa
- 5.3.1.1.2 Rest-of-Africa
- 5.3.2 Asia-Pacific
- 5.3.2.1 By Country
- 5.3.2.1.1 Australia
- 5.3.2.1.2 China
- 5.3.2.1.3 India
- 5.3.2.1.4 Japan
- 5.3.2.1.5 New Zealand
- 5.3.2.1.6 South Korea
- 5.3.2.1.7 Rest-of-APAC
- 5.3.3 Europe
- 5.3.3.1 By Country
- 5.3.3.1.1 Austria
- 5.3.3.1.2 Belgium
- 5.3.3.1.3 Denmark
- 5.3.3.1.4 France
- 5.3.3.1.5 Germany
- 5.3.3.1.6 Italy
- 5.3.3.1.7 Luxembourg
- 5.3.3.1.8 Netherlands
- 5.3.3.1.9 Norway
- 5.3.3.1.10 Poland
- 5.3.3.1.11 Spain
- 5.3.3.1.12 Sweden
- 5.3.3.1.13 Switzerland
- 5.3.3.1.14 UK
- 5.3.3.1.15 Rest-of-Europe
- 5.3.4 Middle East
- 5.3.4.1 By Country
- 5.3.4.1.1 Saudi Arabia
- 5.3.4.1.2 United Arab Emirates
- 5.3.4.1.3 Rest-of-Middle East
- 5.3.5 North America
- 5.3.5.1 By Country
- 5.3.5.1.1 Canada
- 5.3.5.1.2 Mexico
- 5.3.5.1.3 US
- 5.3.5.1.4 Rest-of-North America
- 5.3.6 South America
- 5.3.6.1 By Country
- 5.3.6.1.1 Argentina
- 5.3.6.1.2 Brazil
- 5.3.6.1.3 Rest-of-South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Accell Group NV
- 6.4.2 Aima Technology Group Co. Ltd
- 6.4.3 Bakfiets.nl
- 6.4.4 DOUZE Factory SAS
- 6.4.5 Jiangsu Xinri E-Vehicle Co. Ltd
- 6.4.6 Jinhua Jobo Technology Co.
- 6.4.7 Pedego Electric Bikes
- 6.4.8 Rad Power Bikes
- 6.4.9 Riese & Müller
- 6.4.10 RYTLE GmbH
- 6.4.11 Smart Urban Mobility B.V
- 6.4.12 Tern Bicycles
- 6.4.13 The Cargo Bike Company
- 6.4.14 Xtracycle Inc.
- 6.4.15 XYZ CARGO
- 6.4.16 Yadea Group Holdings Ltd
- 6.4.17 YUBA BICYCLES LLC
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR E BIKES CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- GLOBAL E-CARGO BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- GLOBAL E-CARGO BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- GLOBAL E-CARGO BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- GLOBAL E-CARGO BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- GLOBAL E-CARGO BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- GLOBAL E-CARGO BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- GLOBAL E-CARGO BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- GLOBAL E-CARGO BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- GLOBAL E-CARGO BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- GLOBAL E-CARGO BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- GLOBAL E-CARGO BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 12:
- GLOBAL E-CARGO BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 13:
- GLOBAL E-CARGO BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 14:
- GLOBAL E-CARGO BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 15:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 16:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 17:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 18:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 20:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 21:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 22:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 23:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 24:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 25:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 26:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 27:
- GLOBAL E-CARGO BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 28:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 29:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 30:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 31:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 33:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 34:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 35:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 36:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- GLOBAL E-CARGO BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- GLOBAL E-CARGO BIKE MARKET, BY REGION, VOLUME, UNITS, 2017 - 2029
- Figure 39:
- GLOBAL E-CARGO BIKE MARKET, BY REGION, VALUE, USD, 2017 - 2029
- Figure 40:
- GLOBAL E-CARGO BIKE MARKET, BY REGION, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 41:
- GLOBAL E-CARGO BIKE MARKET, BY REGION, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 42:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, UNITS, 2017 - 2029
- Figure 43:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, USD, 2017 - 2029
- Figure 44:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- GLOBAL E-CARGO BIKE MARKET, SOUTH AFRICA , VOLUME, UNITS, 2017 - 2029
- Figure 47:
- GLOBAL E-CARGO BIKE MARKET, SOUTH AFRICA , VALUE, USD, 2017 - 2029
- Figure 48:
- GLOBAL E-CARGO BIKE MARKET, SOUTH AFRICA , VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-AFRICA , VOLUME, UNITS, 2017 - 2029
- Figure 50:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-AFRICA , VALUE, USD, 2017 - 2029
- Figure 51:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-AFRICA , VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, UNITS, 2017 - 2029
- Figure 53:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, USD, 2017 - 2029
- Figure 54:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 55:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 56:
- GLOBAL E-CARGO BIKE MARKET, AUSTRALIA , VOLUME, UNITS, 2017 - 2029
- Figure 57:
- GLOBAL E-CARGO BIKE MARKET, AUSTRALIA , VALUE, USD, 2017 - 2029
- Figure 58:
- GLOBAL E-CARGO BIKE MARKET, AUSTRALIA , VALUE SHARE (%), 2022 VS 2029
- Figure 59:
- GLOBAL E-CARGO BIKE MARKET, CHINA , VOLUME, UNITS, 2017 - 2029
- Figure 60:
- GLOBAL E-CARGO BIKE MARKET, CHINA , VALUE, USD, 2017 - 2029
- Figure 61:
- GLOBAL E-CARGO BIKE MARKET, CHINA , VALUE SHARE (%), 2022 VS 2029
- Figure 62:
- GLOBAL E-CARGO BIKE MARKET, INDIA , VOLUME, UNITS, 2017 - 2029
- Figure 63:
- GLOBAL E-CARGO BIKE MARKET, INDIA , VALUE, USD, 2017 - 2029
- Figure 64:
- GLOBAL E-CARGO BIKE MARKET, INDIA , VALUE SHARE (%), 2022 VS 2029
- Figure 65:
- GLOBAL E-CARGO BIKE MARKET, JAPAN , VOLUME, UNITS, 2017 - 2029
- Figure 66:
- GLOBAL E-CARGO BIKE MARKET, JAPAN , VALUE, USD, 2017 - 2029
- Figure 67:
- GLOBAL E-CARGO BIKE MARKET, JAPAN , VALUE SHARE (%), 2022 VS 2029
- Figure 68:
- GLOBAL E-CARGO BIKE MARKET, NEW ZEALAND , VOLUME, UNITS, 2017 - 2029
- Figure 69:
- GLOBAL E-CARGO BIKE MARKET, NEW ZEALAND , VALUE, USD, 2017 - 2029
- Figure 70:
- GLOBAL E-CARGO BIKE MARKET, NEW ZEALAND , VALUE SHARE (%), 2022 VS 2029
- Figure 71:
- GLOBAL E-CARGO BIKE MARKET, SOUTH KOREA , VOLUME, UNITS, 2017 - 2029
- Figure 72:
- GLOBAL E-CARGO BIKE MARKET, SOUTH KOREA , VALUE, USD, 2017 - 2029
- Figure 73:
- GLOBAL E-CARGO BIKE MARKET, SOUTH KOREA , VALUE SHARE (%), 2022 VS 2029
- Figure 74:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-APAC , VOLUME, UNITS, 2017 - 2029
- Figure 75:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-APAC , VALUE, USD, 2017 - 2029
- Figure 76:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-APAC , VALUE SHARE (%), 2022 VS 2029
- Figure 77:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, UNITS, 2017 - 2029
- Figure 78:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, USD, 2017 - 2029
- Figure 79:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 80:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 81:
- GLOBAL E-CARGO BIKE MARKET, AUSTRIA , VOLUME, UNITS, 2017 - 2029
- Figure 82:
- GLOBAL E-CARGO BIKE MARKET, AUSTRIA , VALUE, USD, 2017 - 2029
- Figure 83:
- GLOBAL E-CARGO BIKE MARKET, AUSTRIA , VALUE SHARE (%), 2022 VS 2029
- Figure 84:
- GLOBAL E-CARGO BIKE MARKET, BELGIUM , VOLUME, UNITS, 2017 - 2029
- Figure 85:
- GLOBAL E-CARGO BIKE MARKET, BELGIUM , VALUE, USD, 2017 - 2029
- Figure 86:
- GLOBAL E-CARGO BIKE MARKET, BELGIUM , VALUE SHARE (%), 2022 VS 2029
- Figure 87:
- GLOBAL E-CARGO BIKE MARKET, DENMARK , VOLUME, UNITS, 2017 - 2029
- Figure 88:
- GLOBAL E-CARGO BIKE MARKET, DENMARK , VALUE, USD, 2017 - 2029
- Figure 89:
- GLOBAL E-CARGO BIKE MARKET, DENMARK , VALUE SHARE (%), 2022 VS 2029
- Figure 90:
- GLOBAL E-CARGO BIKE MARKET, FRANCE , VOLUME, UNITS, 2017 - 2029
- Figure 91:
- GLOBAL E-CARGO BIKE MARKET, FRANCE , VALUE, USD, 2017 - 2029
- Figure 92:
- GLOBAL E-CARGO BIKE MARKET, FRANCE , VALUE SHARE (%), 2022 VS 2029
- Figure 93:
- GLOBAL E-CARGO BIKE MARKET, GERMANY , VOLUME, UNITS, 2017 - 2029
- Figure 94:
- GLOBAL E-CARGO BIKE MARKET, GERMANY , VALUE, USD, 2017 - 2029
- Figure 95:
- GLOBAL E-CARGO BIKE MARKET, GERMANY , VALUE SHARE (%), 2022 VS 2029
- Figure 96:
- GLOBAL E-CARGO BIKE MARKET, ITALY , VOLUME, UNITS, 2017 - 2029
- Figure 97:
- GLOBAL E-CARGO BIKE MARKET, ITALY , VALUE, USD, 2017 - 2029
- Figure 98:
- GLOBAL E-CARGO BIKE MARKET, ITALY , VALUE SHARE (%), 2022 VS 2029
- Figure 99:
- GLOBAL E-CARGO BIKE MARKET, LUXEMBOURG , VOLUME, UNITS, 2017 - 2029
- Figure 100:
- GLOBAL E-CARGO BIKE MARKET, LUXEMBOURG , VALUE, USD, 2017 - 2029
- Figure 101:
- GLOBAL E-CARGO BIKE MARKET, LUXEMBOURG , VALUE SHARE (%), 2022 VS 2029
- Figure 102:
- GLOBAL E-CARGO BIKE MARKET, NETHERLANDS , VOLUME, UNITS, 2017 - 2029
- Figure 103:
- GLOBAL E-CARGO BIKE MARKET, NETHERLANDS , VALUE, USD, 2017 - 2029
- Figure 104:
- GLOBAL E-CARGO BIKE MARKET, NETHERLANDS , VALUE SHARE (%), 2022 VS 2029
- Figure 105:
- GLOBAL E-CARGO BIKE MARKET, NORWAY , VOLUME, UNITS, 2017 - 2029
- Figure 106:
- GLOBAL E-CARGO BIKE MARKET, NORWAY , VALUE, USD, 2017 - 2029
- Figure 107:
- GLOBAL E-CARGO BIKE MARKET, NORWAY , VALUE SHARE (%), 2022 VS 2029
- Figure 108:
- GLOBAL E-CARGO BIKE MARKET, POLAND , VOLUME, UNITS, 2017 - 2029
- Figure 109:
- GLOBAL E-CARGO BIKE MARKET, POLAND , VALUE, USD, 2017 - 2029
- Figure 110:
- GLOBAL E-CARGO BIKE MARKET, POLAND , VALUE SHARE (%), 2022 VS 2029
- Figure 111:
- GLOBAL E-CARGO BIKE MARKET, SPAIN , VOLUME, UNITS, 2017 - 2029
- Figure 112:
- GLOBAL E-CARGO BIKE MARKET, SPAIN , VALUE, USD, 2017 - 2029
- Figure 113:
- GLOBAL E-CARGO BIKE MARKET, SPAIN , VALUE SHARE (%), 2022 VS 2029
- Figure 114:
- GLOBAL E-CARGO BIKE MARKET, SWEDEN , VOLUME, UNITS, 2017 - 2029
- Figure 115:
- GLOBAL E-CARGO BIKE MARKET, SWEDEN , VALUE, USD, 2017 - 2029
- Figure 116:
- GLOBAL E-CARGO BIKE MARKET, SWEDEN , VALUE SHARE (%), 2022 VS 2029
- Figure 117:
- GLOBAL E-CARGO BIKE MARKET, SWITZERLAND , VOLUME, UNITS, 2017 - 2029
- Figure 118:
- GLOBAL E-CARGO BIKE MARKET, SWITZERLAND , VALUE, USD, 2017 - 2029
- Figure 119:
- GLOBAL E-CARGO BIKE MARKET, SWITZERLAND , VALUE SHARE (%), 2022 VS 2029
- Figure 120:
- GLOBAL E-CARGO BIKE MARKET, UK , VOLUME, UNITS, 2017 - 2029
- Figure 121:
- GLOBAL E-CARGO BIKE MARKET, UK , VALUE, USD, 2017 - 2029
- Figure 122:
- GLOBAL E-CARGO BIKE MARKET, UK , VALUE SHARE (%), 2022 VS 2029
- Figure 123:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-EUROPE , VOLUME, UNITS, 2017 - 2029
- Figure 124:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-EUROPE , VALUE, USD, 2017 - 2029
- Figure 125:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-EUROPE , VALUE SHARE (%), 2022 VS 2029
- Figure 126:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, UNITS, 2017 - 2029
- Figure 127:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, USD, 2017 - 2029
- Figure 128:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 129:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 130:
- GLOBAL E-CARGO BIKE MARKET, SAUDI ARABIA , VOLUME, UNITS, 2017 - 2029
- Figure 131:
- GLOBAL E-CARGO BIKE MARKET, SAUDI ARABIA , VALUE, USD, 2017 - 2029
- Figure 132:
- GLOBAL E-CARGO BIKE MARKET, SAUDI ARABIA , VALUE SHARE (%), 2022 VS 2029
- Figure 133:
- GLOBAL E-CARGO BIKE MARKET, UNITED ARAB EMIRATES , VOLUME, UNITS, 2017 - 2029
- Figure 134:
- GLOBAL E-CARGO BIKE MARKET, UNITED ARAB EMIRATES , VALUE, USD, 2017 - 2029
- Figure 135:
- GLOBAL E-CARGO BIKE MARKET, UNITED ARAB EMIRATES , VALUE SHARE (%), 2022 VS 2029
- Figure 136:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-MIDDLE EAST , VOLUME, UNITS, 2017 - 2029
- Figure 137:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-MIDDLE EAST , VALUE, USD, 2017 - 2029
- Figure 138:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-MIDDLE EAST , VALUE SHARE (%), 2022 VS 2029
- Figure 139:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, UNITS, 2017 - 2029
- Figure 140:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, USD, 2017 - 2029
- Figure 141:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 142:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 143:
- GLOBAL E-CARGO BIKE MARKET, CANADA , VOLUME, UNITS, 2017 - 2029
- Figure 144:
- GLOBAL E-CARGO BIKE MARKET, CANADA , VALUE, USD, 2017 - 2029
- Figure 145:
- GLOBAL E-CARGO BIKE MARKET, CANADA , VALUE SHARE (%), 2022 VS 2029
- Figure 146:
- GLOBAL E-CARGO BIKE MARKET, MEXICO , VOLUME, UNITS, 2017 - 2029
- Figure 147:
- GLOBAL E-CARGO BIKE MARKET, MEXICO , VALUE, USD, 2017 - 2029
- Figure 148:
- GLOBAL E-CARGO BIKE MARKET, MEXICO , VALUE SHARE (%), 2022 VS 2029
- Figure 149:
- GLOBAL E-CARGO BIKE MARKET, US , VOLUME, UNITS, 2017 - 2029
- Figure 150:
- GLOBAL E-CARGO BIKE MARKET, US , VALUE, USD, 2017 - 2029
- Figure 151:
- GLOBAL E-CARGO BIKE MARKET, US , VALUE SHARE (%), 2022 VS 2029
- Figure 152:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-NORTH AMERICA , VOLUME, UNITS, 2017 - 2029
- Figure 153:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-NORTH AMERICA , VALUE, USD, 2017 - 2029
- Figure 154:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-NORTH AMERICA , VALUE SHARE (%), 2022 VS 2029
- Figure 155:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, UNITS, 2017 - 2029
- Figure 156:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, USD, 2017 - 2029
- Figure 157:
- GLOBAL E-CARGO BIKE MARKET, ALL , VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 158:
- GLOBAL E-CARGO BIKE MARKET, ALL , VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 159:
- GLOBAL E-CARGO BIKE MARKET, ARGENTINA , VOLUME, UNITS, 2017 - 2029
- Figure 160:
- GLOBAL E-CARGO BIKE MARKET, ARGENTINA , VALUE, USD, 2017 - 2029
- Figure 161:
- GLOBAL E-CARGO BIKE MARKET, ARGENTINA , VALUE SHARE (%), 2022 VS 2029
- Figure 162:
- GLOBAL E-CARGO BIKE MARKET, BRAZIL , VOLUME, UNITS, 2017 - 2029
- Figure 163:
- GLOBAL E-CARGO BIKE MARKET, BRAZIL , VALUE, USD, 2017 - 2029
- Figure 164:
- GLOBAL E-CARGO BIKE MARKET, BRAZIL , VALUE SHARE (%), 2022 VS 2029
- Figure 165:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-SOUTH AMERICA , VOLUME, UNITS, 2017 - 2029
- Figure 166:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-SOUTH AMERICA , VALUE, USD, 2017 - 2029
- Figure 167:
- GLOBAL E-CARGO BIKE MARKET, REST-OF-SOUTH AMERICA , VALUE SHARE (%), 2022 VS 2029
- Figure 168:
- GLOBAL E-CARGO BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 169:
- GLOBAL E-CARGO BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 170:
- GLOBAL E-CARGO BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
E-cargo Bike Industry Segmentation
Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.
- Electric cargo bike sales recorded a CAGR of 17.16% between 2017 and 2023, with developed nations like Germany, the United Kingdom, France, and the United States accounting for a sizable percentage of the worldwide market. As cities struggle with traffic congestion that causes noise and air pollution, the electric cargo bike and bicycle logistic sectors are emerging as a useful, sustainable, non-congested, and inclusive alternative for first- and last-mile deliveries, general logistical service provision, and family vehicles.
- North America is the fastest-growing e-commerce market in the world and presents special logistics challenges compared to other regions due to its fraught geography and sprawling urban landscapes. The Mexican e-commerce market reached USD 37.99 billion in 2022. However, companies like Mexican transportation and logistics Estafeta implemented its "green deliveries" in late 2017, featuring e-bikes for last-mile deliveries in certain cities. Such steps are expected to increase the usage of the e-cargo bike in recent years.
- An increase in online orders is driving the growth of the last-mile delivery business. Governments should welcome technological innovation and change to reduce reliance and become more sustainable in the future. Because of the tremendously dense population in Asian countries such as China, India, and Japan, e-cargo bikes are expected to be the most practical and eco-friendly option in the future.
| Propulsion Type | Pedal Assisted | ||
| Speed Pedelec | |||
| Throttle Assisted | |||
| Battery Type | Lead Acid Battery | ||
| Lithium-ion Battery | |||
| Others | |||
| Region | Africa | By Country | South Africa |
| Rest-of-Africa | |||
| Region | Asia-Pacific | By Country | Australia |
| China | |||
| India | |||
| Japan | |||
| New Zealand | |||
| South Korea | |||
| Rest-of-APAC | |||
| Region | Europe | By Country | Austria |
| Belgium | |||
| Denmark | |||
| France | |||
| Germany | |||
| Italy | |||
| Luxembourg | |||
| Netherlands | |||
| Norway | |||
| Poland | |||
| Spain | |||
| Sweden | |||
| Switzerland | |||
| UK | |||
| Rest-of-Europe | |||
| Region | Middle East | By Country | Saudi Arabia |
| United Arab Emirates | |||
| Rest-of-Middle East | |||
| Region | North America | By Country | Canada |
| Mexico | |||
| US | |||
| Rest-of-North America | |||
| Region | South America | By Country | Argentina |
| Brazil | |||
| Rest-of-South America |
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Market Definition
- By Application Type - Cargo e-bikes are considered under the scope of this segment. The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas
- By Battery Type - This segment includes lithium-ion batteries, lead-acid batteries, and other battery types. The other battery type category includes nickel-metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
- By Propulsion Type - E-bikes considered under this segment include pedal-assisted e-bikes, throttle-assisted e-bikes, and speed pedelec. While the speed limit of pedal and throttle-assisted e-bikes is usually 25 km/h, the speed limit of speed pedelec is generally 45 km/h (28 mph).
| Keyword | Definition |
|---|---|
| Pedal Assisted | Pedal-assist or pedelec category refers to the electric bikes that provide limited power assistance through torque-assist system and do not have throttle for varying the speed. The power from the motor gets activated upon pedaling in these bikes and reduces human efforts. |
| Throttle Assisted | Throttle-based e-bikes are equipped with the throttle assistance grip, installed on the handlebar, similarly to motorbikes. The speed can be controlled by twisting the throttle directly without the need to pedal. The throttle response directly provides power to the motor installed in the bicycles and speeds up the vehicle without paddling. |
| Speed Pedelec | Speed pedelec is e-bikes similar to pedal-assist e-bikes as they do not have throttle functionality. However, these e-bikes are integrated with an electric motor which delivers power of approximately 500 W and more. The speed limit of such e-bikes is generally 45 km/h (28 mph) in most of the countries. |
| City/Urban | The city or urban e-bikes are designed with daily commuting standards and functions to be operated within the city and urban areas. The bicycles include various features and specifications such as comfortable seats, sit upright riding posture, tires for easy grip and comfortable ride, etc. |
| Trekking | Trekking and mountain bikes are special types of e-bikes that are designed for special purposes considering the robust and rough usage of the vehicles. These bicycles include a strong frame, and wide tires for better and advanced grip and are also equipped with various gear mechanisms which can be used while riding in different terrains, rough grounded, and tough mountainous roads. |
| Cargo/Utility | The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas. These bikes are usually owned by local businesses and delivery partners to deliver packages and parcels at very low operational costs. |
| Lithium-ion Battery | A Li-ion battery is a rechargeable battery, which uses lithium and carbon as its constituent materials. The Li-Ion batteries have a higher density and lesser weight than sealed lead acid batteries and provide the rider with more range per charge than other types of batteries. |
| Lead Acid Battery | A lead acid battery refers to sealed lead acid battery having a very low energy-to-weight and energy-to-volume ratio. The battery can produce high surge currents, owing to its relatively high power-to-weight ratio as compared to other rechargeable batteries. |
| Other Batteries | This includes electric bikes using nickel–metal hydroxide (NiMH), silicon, and lithium-polymer batteries. |
| Business-to-Business (B2B) | The sales of e-bikes to business customers such as urban fleet and logistics company, rental/sharing operators, last-mile fleet operators, and corporate fleet operators are considered under this category. |
| Business-to-Customers (B2C) | The sales of electric scooters and motorcycles to direct consumers is considered under this category. The consumers acquire these vehicles either directly from manufacturers or from other distributers and dealers through online and offline channel. |
| Unorganized Local OEMs | These players are small local manufacturers and assemblers of e-bikes. Most of these manufacturers import the components from China and Taiwan and assemble them locally. They offer the product at low cost in this price sensitive market which give them advantage over organized manufacturers. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Dockless e-Bikes | Electric bikes that have self-locking mechanisms and a GPS tracking facility with an average top speed of around 15mph. These are mainly used by bike-sharing companies such as Bird, Lime, and Spin. |
| Electric Vehicle | A vehicle which uses one or more electric motors for propulsion. Includes cars, scooters, buses, trucks, motorcycles, and boats. This term includes all-electric vehicles and hybrid electric vehicles |
| Plug-in EV | An electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. In this report we use the term for all-electric vehicles to differentiate them from plug-in hybrid electric vehicles. |
| Lithium-Sulphur Battery | A rechargeable battery that replaces the liquid or polymer electrolyte found in current lithium-ion batteries with sulfur. They have more capacity than Li-ion batteries. |
| Micromobility | Micromobility is one of the many modes of transport involving very-light-duty vehicles to travel short distances. These means of transportation include bikes, e-scooters, e-bikes, mopeds, and scooters. Such vehicles are used on a sharing basis for covering short distances, usually five miles or less. |
| Low Speed Electric Vehicls (LSEVs) | They are low speed (usually less than 25 kmph) light vehicles that do not have an internal combustion engine, and solely use electric energy for propulsion. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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