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Cargo Bike Market Analysis
- Report ID: GMI5388
- Published Date: Apr 2023
- Report Format: PDF
Cargo Bike Market Analysis
The four-wheeled cargo bike market is expected to observe 10.4% growth during 2023-2032. The superior stability, versatility and capability to carry heavier loads compared to traditional two-wheeled cargo bikes will drive industry expansion. The use of four wheels increases cargo capacity, enabling it to carry heavier loads over longer distances. This makes such cargo bikes more efficient for commercial & industrial applications including last-mile delivery, grocery delivery, and other forms of urban logistics. Four-wheeled cargo bikes are efficient and sustainable for urban transportation & logistics.
The food delivery segment is poised to grow substantially by 2032 as these bikes have eco-friendly & sustainable transport options along with the increasing consumer inclination for green delivery solutions. Cargo bikes emit zero or minimal harmful emissions and offer an efficient mode of transport for food delivery in urban areas. The use of cargo bikes in food delivery allows businesses to gain a competitive edge by providing a unique & sustainable delivery experience to customers.
The North America cargo bike market is estimated to record 8.5% gains through 2032. The regional market growth is propelled by the rising demand for sustainable and eco-friendly transportation solutions. Cargo bike applications are growing across the region as they are emission-free and provide a practical & sustainable option for last-mile delivery in urban areas. The progression of e-commerce has also led to an increased interest in last-mile delivery solutions, fostering the product demand.
The prominent players in the cargo bike industry are AIMA Technology Co., Accell Group, Rad Power Bikes, Trek Bicycle, Pedego Electric Bikes, and Electric Bikes Technology, Inc. These market players are focused on introducing innovations in their cargo bike models. For instance, in February 2023, Trek unveiled two fresh electric cargo bikes, Fetch Plus 2 and Fetch Plus 4. Fetch Plus 2 is a long-tail cargo bike with an extended rear rack that can carry a combination of cargo, children, or other items. Fetch Plus 4 is a box bike, also known as a bakfiets, with a long wheelbase and a sizable front cargo area.
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Cargo Bike Market Scope
