Europe Electric Cargo Bikes Market Overview
The Europe Electric Cargo Bikes Market is expected to grow at a Significant CAGR during the forecasting period (2024-2031).
Electric bike technology is the latest disruption in the fields of transportation and logistics. Running on electricity rather than fossil fuels is the greatest aid offered by electric bikes to the environment Lower purchase and maintenance costs, fewer access limitations and faster commute are some of the key factors driving the adoption of electric cargo bikes in the region
The growing inter and intra-city freight delivery in the region is promoting the growth of e-cargo bikes
Rad Power Bikes LLC, Riese & Müller GmbH, XYZ CARGO and DOUZE Factory SAS are some of the leading manufacturers operating the region
The governments across the region are launching several assistance programs to achieve their sustainable transport goals
According to industry estimates, the sales of e-cargo bikes in Europe witnessed a growth of nearly 60% in 2019 and is likely to grow by another 50% in 2020
Market Segmentation Analysis
By Product Type
Three-Wheeled or tricycles are the largest sold type of e-cargo bikes in the Europe region. The segment accounted for nearly 55% of the total dollar revenue in the market
These bikes are extensively in use for parcel services and retail goods supply owing to their economical and ecological benefits over conventional trucks
The rising freight services, particularly in the urban locations of Europe is propelling the growth of the market
Moreover, the increasing demand from personal transportation applications from young parents led this as the most lucrative growth segment
The market for robotic floor cleaning vacuum cleaners valued $XX Mn in 2019 and is estimated to grow at a CAGR of XX% over the forecast period to reach a $XX Mn by 2027
By Region
Germany is the largest market for electric cargo bikes in Europe, holding nearly XX% of the dollar sales in 2019. The rapidly growing demand from the commercial, public and private sectors will lead the market over the forecast period. According to industry estimates, the unit sales of e-cargo bikes in the country witnessed a growth of 80% in 2018
Germany electric cargo bikes market valued USD XX million in 2019 and is estimated to grow at a CAGR of XX% during the forecast period to reach a market value of USD XX million by 2027
The growth of the market is also dependent on the assistance provided by federal and local governments. However, the country is yet to develop a national financial assistance policy for e-cargo bikes at industry level
As of 2019, XYZ CARGO and Riese & Müller GmbH are leading in the sales of e-cargo bikes in Germany. Also, some other leading European manufacturers such as DOUZE Factory SAS are operating the domestic market
