Cargo Bicycles Market 2023 | Size, Top Trends, Growth, Share, Key Drivers | Xtracycle Inc., Tern, Rad Power Bikes LLC, Worksman Cycles, Yuba Bicycles LLC

The Cargo Bicycles Global Market Report 2023 by The Business Research Company, provides cargo bicycles market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Cargo Bicycles Global Market Report 2023, the global cargo bicycles market size is expected to grow from $2.51 billion in 2022 to $3.11 billion in 2023 at a compound annual growth rate (CAGR) of 24%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cargo bicycles market size is expected to reach $7.30 billion in 2027 at a CAGR of 23.8%.

The increased demand for fleets for freight delivery is expected to propel the growth of the cargo bicycles market going forward. Freight delivery is the process of transporting items, goods, and cargo by land, sea, or air. Cargo bicycles are extensively utilised in urban freight deliveries to improve efficiency and provide an economically viable alternative to delivery vans. Courier and parcel service firms regularly use cargo bicycles to avoid challenges with urban delivery such as parking and traffic.

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The cargo bicycles market is segmented:

1) Cargo Bicycles Market By Type: Electric, Non-electric

2) Cargo Bicycles Market By Wheel Size: Below 20″, 20″-24″, 25″-28″, Above 28″

3) Cargo Bicycles Market By Application: Personal, Commercial, Other Applications

Top Major Players

Product innovation is a key trend gaining popularity in the cargo bicycles market. Major companies operating in the market are focused on research and development for product innovations to sustain their position in the market. For instance, in December 2022, ONOMOTION GmbH, a Germany-based e-mobility company, launched the ONO e-cargo bike, a hybrid of an e-bike and a car for urban mobility. The ONO positions itself as a cross between an electric bike and an automobile, allowing for both speedier and more space-saving transportation and capable of replacing sprinters, delivery trucks, and vans for last-mile delivery and pioneering the emission-free transport of goods within cities. Additionally, ONO’s unique design of the driver’s cab provides more space and weather protection than conventional cargo bikes, meeting the needs of fleet managers and drivers.

The cargo bicycles market report table of contents includes:

1. Executive Summary

2. Cargo Bicycles Market Characteristics

3. Cargo Bicycles Market Trends And Strategies

4. Cargo Bicycles Market – Macro Economic Scenario

5. Cargo Bicycles Market Size And Growth

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26. Africa Cargo Bicycles Market

27. Cargo Bicycles Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Cargo Bicycles Market

29. Cargo Bicycles Market Future Outlook and Potential Analysis

30. Appendix