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E-cargo Bike Market Size

The e-cargo bike market is experiencing significant growth, driven by the increasing adoption of e-bikes as a sustainable transportation solution for logistics and last-mile deliveries. This market expansion is particularly notable in developed regions such as North America and Europe, where e-bikes are becoming a preferred choice due to their environmental benefits and ability to navigate congested urban areas. The market's growth is further supported by government incentives and the rising demand for eco-friendly delivery options, especially in densely populated Asian countries. As cities continue to address traffic and pollution challenges, e-cargo bikes are positioned as a practical and inclusive alternative, contributing to the overall increase in market size.

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Market Size of e-cargo bike Industry

E-cargo Bike Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 2.01 Billion
svg icon Market Size (2029) USD 2.92 Billion
svg icon Largest Share by Propulsion Type Pedal Assisted
svg icon CAGR (2024 - 2029) 7.73 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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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

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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

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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

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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

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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

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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.
Global E-cargo Bike Market

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.

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
Asia-Pacific
By Country
Australia
China
India
Japan
New Zealand
South Korea
Rest-of-APAC
Europe
By Country
Austria
Belgium
Denmark
France
Germany
Italy
Luxembourg
Netherlands
Norway
Poland
Spain
Sweden
Switzerland
UK
Rest-of-Europe
Middle East
By Country
Saudi Arabia
United Arab Emirates
Rest-of-Middle East
North America
By Country
Canada
Mexico
US
Rest-of-North America
South America
By Country
Argentina
Brazil
Rest-of-South America
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E-cargo Bike Market Size Summary

The e-cargo bike market is experiencing significant growth, driven by the increasing adoption of electric bikes as a sustainable and efficient mode of transportation. This market is gaining traction as cities worldwide grapple with traffic congestion and pollution, making e-cargo bikes an attractive alternative for first- and last-mile deliveries, as well as general logistics and family transportation. Developed regions such as Europe and North America are leading the charge, with countries like Germany, the United Kingdom, and the United States contributing substantially to the market's expansion. The rise of e-commerce, particularly in North America, presents unique logistical challenges that e-cargo bikes are well-suited to address, further propelling market growth. In Asia, densely populated countries like China, India, and Japan are expected to see increased adoption due to the practicality and eco-friendliness of e-cargo bikes.

The global e-cargo bike market is characterized by a fragmented landscape, with key players such as Accell Group NV, Aima Technology Group Co. Ltd, Riese & Müller, RYTLE GmbH, and Yadea Group Holdings Ltd holding significant market shares. The market's expansion is supported by government incentives and subsidies, particularly in Europe and North America, which encourage the use of e-bikes for transportation and deliveries. The COVID-19 pandemic has accelerated the adoption of e-bikes, as they offer a practical solution for commuting and local deliveries, reducing reliance on fuel-powered vehicles. As businesses increasingly recognize the cost and environmental benefits of e-cargo bikes, their use for last-mile deliveries is expected to rise, contributing to the market's robust growth trajectory over the forecast period.

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E-cargo Bike Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Propulsion Type

      1. 1.1.1 Pedal Assisted

      2. 1.1.2 Speed Pedelec

      3. 1.1.3 Throttle Assisted

    2. 1.2 Battery Type

      1. 1.2.1 Lead Acid Battery

      2. 1.2.2 Lithium-ion Battery

      3. 1.2.3 Others

    3. 1.3 Region

      1. 1.3.1 Africa

        1. 1.3.1.1 By Country

          1. 1.3.1.1.1 South Africa

          2. 1.3.1.1.2 Rest-of-Africa

      2. 1.3.2 Asia-Pacific

        1. 1.3.2.1 By Country

          1. 1.3.2.1.1 Australia

          2. 1.3.2.1.2 China

          3. 1.3.2.1.3 India

          4. 1.3.2.1.4 Japan

          5. 1.3.2.1.5 New Zealand

          6. 1.3.2.1.6 South Korea

          7. 1.3.2.1.7 Rest-of-APAC

      3. 1.3.3 Europe

        1. 1.3.3.1 By Country

          1. 1.3.3.1.1 Austria

          2. 1.3.3.1.2 Belgium

          3. 1.3.3.1.3 Denmark

          4. 1.3.3.1.4 France

          5. 1.3.3.1.5 Germany

          6. 1.3.3.1.6 Italy

          7. 1.3.3.1.7 Luxembourg

          8. 1.3.3.1.8 Netherlands

          9. 1.3.3.1.9 Norway

          10. 1.3.3.1.10 Poland

          11. 1.3.3.1.11 Spain

          12. 1.3.3.1.12 Sweden

          13. 1.3.3.1.13 Switzerland

          14. 1.3.3.1.14 UK

          15. 1.3.3.1.15 Rest-of-Europe

      4. 1.3.4 Middle East

        1. 1.3.4.1 By Country

          1. 1.3.4.1.1 Saudi Arabia

          2. 1.3.4.1.2 United Arab Emirates

          3. 1.3.4.1.3 Rest-of-Middle East

      5. 1.3.5 North America

        1. 1.3.5.1 By Country

          1. 1.3.5.1.1 Canada

          2. 1.3.5.1.2 Mexico

          3. 1.3.5.1.3 US

          4. 1.3.5.1.4 Rest-of-North America

      6. 1.3.6 South America

        1. 1.3.6.1 By Country

          1. 1.3.6.1.1 Argentina

          2. 1.3.6.1.2 Brazil

          3. 1.3.6.1.3 Rest-of-South America

E-cargo Bike Market Size FAQs

The Global E-cargo Bike Market size is expected to reach USD 2.01 billion in 2024 and grow at a CAGR of 7.73% to reach USD 2.92 billion by 2029.

In 2024, the Global E-cargo Bike Market size is expected to reach USD 2.01 billion.

E-cargo Bike Market Report Snapshots

E-cargo Bike Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029