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E-Cargo Bike Market Size - By Battery (Lithium-Ion, SLA, NiMH), By Motor (Mid Motor, Hub Motor), By Sales Channel (Offline, Online), By Propulsion Type (Pedal, Throttle) & Forecast, 2024 - 2032

  • Report ID: GMI8498
  • Published Date: Mar 2024
  • Report Format: PDF

E-Cargo Bike Market Size

E-Cargo Bike Market size was valued at USD 3.3 billion in 2023 and is estimated to register a CAGR of over 3% between 2024 and 2032, driven by the combination of increasing urban population and the demand for efficient last-mile delivery solutions. With cities becoming more crowded, there is a pressing need for compact and eco-friendly transport options.

E-Cargo Bike Market

Additionally, technological advancements in battery technology and motor efficiency have improved the performance and range of e-cargo bikes, making them a practical choice for businesses and individuals in urban environments. For instance, in February 2023, Trek unveiled two new electric cargo bikes, the Fetch Plus 2 and Fetch Plus 4, targeting families seeking sustainable transport alternatives. The Fetch Plus 2 is a long-tail model for carrying children or cargo, while the Fetch Plus 4 is a box bike with a spacious front cargo area.

The growth of the e-cargo bikes industry is further driven by the increasing demand for customization options and a heightened focus on environmental sustainability. Consumers and businesses are drawn to the strong ability of e-cargo bikes to be tailored with various accessories for specific needs, such as cargo baskets or child seating.

Additionally, with the growing environmental awareness, the eco-friendly nature of e-cargo bikes has become a significant selling point, driving their adoption of greener urban transportation solutions. For instance, in August 2023, Mycle, a U.K. brand, introduced a versatile cargo e-bike with adaptable front and rear racks, compatible with third-party accessories while being ideal for customizations like cargo baskets or child seating.

Though e-cargo bikes offer various benefits, their upfront cost and the growing regulatory hurdles can pose initial challenges. On the other side, with governments recognizing the environmental advantages, there is actively work to streamline regulations, creating a more favorable environment for e-cargo bike adoption, further fostering a sustainable future for urban transportation.

E-Cargo Bike Market Trends

The emerging trend of sleeker designs and appealing aesthetics, coupled with the integration of advanced safety features is propelling the expansion of the e-cargo bikes industry. Consumers are increasingly drawn to visually appealing designs that blend seamlessly into urban environments with safety features for providing peace of mind during city commutes. This combination of style and security is enhancing the overall appeal of e-cargo bikes, fostering its increased adoption among businesses and individuals. For instance, in February 2024, Gocycle unveiled a stylish electric cargo bike featuring race-inspired innovations, adding sophistication and practicality to urban transportation options.

E-Cargo Bike Market Analysis

E-Cargo Bike Market Size, By Battery, 2022-2032, (USD Billion)

Based on battery type, the market is divided into SLA, Li-ion and NiMH. The Li-ion battery segment dominated around USD 2 billion revenue in 2023 and is poised to exceed USD 3 billion by 2032, due to its superior performance and efficiency. These batteries offer high energy density, enabling longer riding ranges and quicker recharging times. E-cargo bikes rely on Li-ion batteries for their ability to handle heavy loads without compromising speed or power.  The growing need for sustainable solutions in urban logistics will also propel the preference for Li-ion batteries for their reliability and eco-friendliness.

E-Cargo Bike Market Share, By Motor, 2023

Based on motor, the market is categorized into hub motor and mid motor. The hub motor segment accounted for 64% of the e-cargo bikes market share in 2023, owing to its simplicity and effectiveness. Hub motors are integrated directly into the bike's wheels for providing seamless power delivery and ease of maintenance. Their quiet operation and ability to handle heavy loads makes them ideal for urban delivery and transportation services. With the demand for efficient and reliable e-cargo solutions growing, hub motor-deployed e-cargo bikes will emerge as primary consumer choice for their practicality and performance.

Asia Pacific E-Cargo Bike Market Size, 2022-2032 (USD Billion)

Asia Pacific e-cargo bike market held over 60% of the revenue share in 2023, propelled by its rapid urbanization and strong focus on sustainable transportation solutions. The growing population and increasing demand for efficient last-mile deliveries in the region have propelled the adoption of e-cargo bikes. Favorable government initiatives and supportive infrastructure are also creating a conducive environment for the widespread acceptance and integration of eco-friendly transport alternatives in the region, further contributing to the industry growth.

E-Cargo Bike Market Share

Trek Bicycles and Accell Group hold a significant market share of over 16% in the e-cargo bike industry. These companies are bolstering their market presence through substantial investments in R&D, aiming to meet the changing demands of businesses and consumers with innovative designs.

This includes advanced features like extended battery life, increased load capacity, and heightened safety measures. Furthermore, strategic alliances with logistics firms and e-commerce platforms are helping them expand their reach for ensuring widespread availability and visibility to potential buyers while solidifying their market position.

E-Cargo Bike Market Companies

Major companies operating in the e-cargo bike industry are:

  • Accell Group
  • Butchers & Bicycles
  • Douze Cycles
  • Hero Lectro
  • Rad Power Bikes, LLC
  • Tern
  • Trek Bicycles
  • WorkCycles
  • XYZ Cargo
  • Yuba Bicycles

E-Cargo bike Industry News

  • In July 2022, E-commerce giant Amazon introduced its inaugural fleet of e-cargo bikes for delivery services in the U.K., marking a significant sustainability initiative.
  • In March 2023, well-known high-end bicycles and e-bike provider Specialized debuted its inaugural line of budget-friendly e-bikes under the Globe brand, with the first model being the electric cargo bike and Globe Haul ST.

The e-cargo bike market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipment (Units) from 2018 to 2032, for the following segments:

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Market, By Battery Type

  • SLA
    • Pedal-Assist
    • Throttle-Assist
  • Li-ion
    • Pedal-Assist
    • Throttle-Assist
  • NiMH
    • Pedal-Assist
    • Throttle-Assist

Market, By Motor

  • Hub Motor
  • Mid Motor

Market, By Propulsion type

  • Pedal-Assist
  • Throttle-Assist

Market, By Sales Channel

  • Online
  • Offline

The above information has been provided for the following Country:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Netherlands
    • Spain
    • Russia
    • Rest of Europe 
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • MEA
    • U.A.E.
    • South Africa
    • Saudi Arabia
    • Rest of MEA


Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of e-cargo bike reached USD 3.3 billion in 2023 and is set to witness 3% CAGR from 2024-2032, owing to the combination of increasing urban population and the demand for efficient last-mile delivery solutions worldwide.

The Li-ion segment was over USD 2 billion revenue in 2023, due to its superior performance and efficiency, offering high energy density, enabling longer riding ranges and quicker recharging times.

Asia Pacific market held over 60% of the revenue share in 2023, attributed to rapid urbanization and strong focus on sustainable transportation solutions in the region.

Accell Group, Butchers & Bicycles, Douze Cycles, Hero Lectro, Rad Power Bikes, LLC, Tern, Trek Bicycles, WorkCycles, XYZ Cargo, and Yuba Bicycles, are some of the major e-cargo bike companies worldwide.

E-Cargo Bike Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 600
  • Countries covered: 25
  • Pages: 220
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