Global Cargo Bicycles Market Analysis by Product, Type, Wheel Size, Application, Region and segments forecast till 2033

Market Overview

The global cargo bicycles market is presently valued at USD 2,406.9 million and is expected to amplify at a CAGR of 22.3% over 2023-2033, thereby accumulating USD 12,061.0 million by end of the forecast period.

Report Scope

Cargo bicycle is referred to as a type of sturdy bike predominantly designed to carry a load that can be typically heavy, light, small, or large. These bicycles can accommodate two or more people depending on their size and shape and are eco-friendly in nature. Cargo bikes are equipped with a heavy-duty front rack, a large range of lower gears, and a small front wheel to decrease the center of gravity. Moreover, the bikes are also being integrated with advanced accessories like electronic motors to enhance their functionality.

The escalating demand for eco-friendly transportation options to reduce emission levels is one of the primary factors augmenting the outlook of this business sphere. Furthermore, rise in freight deliveries and increasing number of on-road vehicles has aggravated traffic congestion, noise, and pollution. This in turn has increased the adoption of cargo bikes for sustainable commercial and personal transportation practices. Also, growing R&D investments in the field, the booming logistics and e-commerce sector, along with rising environmental cognizance of the masses are creating lucrative opportunities for the marketplace to prosper.

Moreover, stringent emission regulations imposed by various governments and increasing focus of manufacturers to develop advanced and efficient products in the field are positively swaying the dynamics of this industry vertical. On the contrary, the technical limitations pertaining to these bikes tend to hamper their overall performance. This in turn is hindering the remuneration scope of this market sphere.

Drivers: Increasing Environmental Concerns to Boost Industry Expansion

With rapid urbanization and industrialization, there has been a steep rise in the number of fuel-based vehicles across the globe. This has led to a widespread increase in emission and pollution levels along with the depletion of fossils. Therefore, various governments have imposed stringent emission rules to address environmental concerns. This in turn is adding momentum to the progression of this market vertical. The cargo bicycles market is expected to see significant growth in the coming years due to increasing environmental concerns and a growing trend towards sustainable transportation.

In the Netherlands, the government has set a target to have 50% of all trips in urban areas made by bicycle by 2030. They have implemented a range of policies to support this goal, including the construction of dedicated bicycle lanes, the provision of secure bicycle parking facilities, and the promotion of cargo bicycles for commercial deliveries. Similarly, in the United Kingdom, the government has launched a number of initiatives to promote cycling and walking as a way to reduce emissions and improve public health. In 2020, they announced a £2 billion package to create a "cycling and walking revolution" in the country, which includes the construction of new cycling and walking infrastructure, the promotion of e-bikes and cargo bikes, and the implementation of low traffic neighborhoods.

Challenge: Lack of infrastructure

While cargo bicycles are a sustainable and eco-friendly alternative to traditional delivery vehicles, they require dedicated bike lanes and safe cycling infrastructure to operate effectively. Many cities and municipalities are still designed primarily for cars and trucks, with limited bike lanes and cycling infrastructure. This makes it difficult for cargo bicycles to navigate urban areas safely and efficiently, which can limit their adoption and growth.

Trends: Growing Adoption of Cargo Bicycles In The E-Commerce Sector Is Fueling Industry Growth

There has been a growing adoption of cargo bikes in the e-commerce sector for real time delivery of goods. Moreover, transportation of goods via efficient cargo bicycles not only reduces emission levels but also helps in decreasing the operational cost pertaining to logistics and e-commerce based businesses. These factors are positively influencing the growth matrix of this industry sphere. The adoption of cargo bicycles in the e-commerce sector refers to a growing trend of using bicycles to transport goods in the delivery process of e-commerce companies. These cargo bicycles are designed to carry heavier loads than traditional bicycles, with a large carrying capacity and sturdy construction. They are often equipped with electric motors to provide additional power and help with uphill climbs and heavy loads.

Product Insights

The two-wheeled segment is poised to amass notable gains owing to their high adoption rate to facilitate last mile deliveries. The cargo bicycles market has seen significant growth in the two-wheeled segment in recent years. Cargo bicycles, which are designed to transport goods and heavy loads, have traditionally been three-wheeled vehicles. However, in recent years, there has been a growing trend towards two-wheeled cargo bicycles, which offer greater maneuverability and flexibility in urban environments.

Type Insights

The electric segment is slated to generate more than 45% of the market share over the stipulated timeline ascribing to the functional efficacy of electric bikes. The electric cargo bicycles market has seen significant growth in recent years due to several factors, including increasing demand for sustainable transportation solutions and rising concerns over air pollution and traffic congestion in urban areas. Electric cargo bicycles offer an eco-friendly alternative to traditional delivery vehicles, making them a popular choice for businesses and individuals.

Wheel Size Insights

The 20’’-24’’ segment is likely to showcase considerable growth trends over the estimated timeframe since smaller wheels allow users to ride their bicycles at a higher speed. Cargo bicycles in the 20"-24" size range are typically used for carrying smaller loads, such as groceries or parcels, in urban environments. These bicycles are often designed to be compact and maneuverable, making them ideal for navigating busy city streets and narrow alleys. They are also relatively lightweight and easy to park, which can be an advantage in densely populated urban areas where space is at a premium.

Application Insights

The commercial segment is anticipated to account for a large volume share over the forecast period attributing to the booming e-commerce sales and escalating consumer demand for the last mile delivery of goods. Rising demand for sustainable transportation: With growing concerns over climate change and air pollution, many businesses are looking for sustainable transportation solutions. Cargo bicycles provide a zero-emission alternative to traditional delivery vehicles, making them an attractive option for environmentally conscious businesses.

Regional Insights

The primary regions constituting the geographical ambit of this business sphere are North America, Asia Pacific, Middle East & Africa, Europe, and Latin America.

Europe is projected to capture a substantial revenue share over 2023-2033. This is attributable to the increasing environmental cognizance of the masses, presence of stringent emission rules, and rising instances of traffic congestion. Cargo bicycles have become increasingly popular in Europe, especially in countries such as Germany, where cycling is a popular mode of transportation. According to a survey conducted by the German Federal Environment Agency in 2020, cargo bicycles are gaining popularity as a means of transport for both private and commercial purposes.

The survey found that the majority of cargo bicycle owners in Germany use them for private purposes, such as shopping, commuting, and transporting children. However, the use of cargo bicycles for commercial purposes is also increasing, with businesses such as delivery services and tradespeople using them to transport goods and equipment. The survey also found that the use of cargo bicycles varies depending on the region, with urban areas showing a higher prevalence of cargo bicycle use compared to rural areas. In addition, the survey found that the most commonly used types of cargo bicycles in Germany are two-wheeled models with a cargo capacity of up to 100 kg.

Competitive Analysis

The prominent players defining the competitive terrain of this industry vertical are DOUZE Factory SAS, XYZ CARGO, Butchers & Bicycles ApS, NIHOLA, Babboe, Yuba Electric Cargo Bikes, BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Carqon (Accell Group N.V.), XCYC (Gemeinnützige Werkstätten und Wohnstätten GmbH), Riese & Müller GmbH, Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings, Ltd.), Pedego Electric Bikes, Xtracycle Inc., Amsterdam Bicycle Company, Triobike, Pashley Cycles, Worksman Cycles, Jinhua Jobo Technology Co., Ltd., Cero Electric Cargo Bikes, and Nijland Cycling.

·         Pon.Bike is a leading Dutch company that specializes in the production and distribution of bicycles and related products. In November 2019, the company announced the acquisition of Urban Arrow, a Dutch manufacturer of high-quality cargo bicycles. The acquisition was aimed at diversifying Pon.Bike's offerings in the cargo bike portfolio and expanding its presence in the growing cargo bike market.

Global Cargo Bicycles Market- Segmental Analysis

By Product

• Two-Wheeled

• Three-Wheeled

• Four-Wheeled

By Type

• Electric

• Non-electric

By Wheel Size

• Below 20’’

• 20’’-24’’

• 25’’-28’’

• Above 28’’

By Application

• Personal

• Commercial

• Others

Why to buy this Report?

The report provides quantitative and qualitative aspect for Global Cargo Bicycles Market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both Production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in Global Cargo Bicycles Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

•             Business Model

•             Production Capacity, Revenue, Sales, Gross Margin

•             Key Business Strategy

•             SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:

•             Company Share Analysis from 2020-2022

•             Company Analysis by Revenue and Sales

•             Company Production Capacity, Gross Margin

•             Company Share Analysis by Card Type/Card Type

•             Company Share Analysis by Product/Specification