Market Size of europe e-cargo bike Industry
| Icons | Lable | Value |
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Study Period | 2018-2028 |
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Base Year For Estimation | 2022 |
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Forecast Data Period | 2024 - 2028 |
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Historical Data Period | 2018 - 2021 |
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CAGR | 6.54 % |
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Market Concentration | Medium |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Europe E-Cargo Bike Market Analysis
The Europe e-cargo bike market was valued at USD 10.78 billion and is anticipated to reach USD 17.90 billion, registering a CAGR of 6.54% during the forecast period.
- The COVID-19 pandemic boosted the market for e-cargo bikes. Increased online shopping during the lockdown is expected to increase demand for electric cargo bikes. This was primarily due to an increase in e-cargo bike application areas, such as food delivery, shopping, grocery delivery, and last-mile delivery in e-commerce.
- Over the long term, e-cargo bikes are a low-cost, environmentally friendly way to transport a wide range of goods. As, with the growing concern for preserving and sustaining the environment for future generations, protecting it poses a significant challenge for both society and governments around the world, particularly given the scarcity of natural resources and environmental concerns. Further, the cost of operating e-cargo bikes is significantly lower than that of conventional fuel-powered vehicles and even lower than that of small electric vans. Therefore, major players globally are investing in e-cargo bikes.
- For instance, in October 2022, Renault Trucks collaborated with Kleuster, a Lyon-based electric cargo bike manufacturer, to accelerate the production and distribution of the Freegônese-cargo bikes, all with the goal of decarbonizing professional mobility. These cargo bikes will be built at Renault Trucks' Vénissieuxplant and distributed throughout the manufacturer's European network. Renault Trucks will add last-mile delivery solutions to its electric vehicle lineup as a result of this collaboration.
- Further, E-cargo bikes are an inexpensive and environmentally friendly way to transport a variety of goods. The cost of operating e-cargo bikes is significantly lower than that of conventional fuel vehicles and even lower than that of small electric vans. E-cargo bikes have very low transportation costs. The e-cargo bike sector is expected to attract players with strong support from governments around the world in terms of both policy and financing.
- For instance, in July 2022, Dott, a European micro-mobility company, announced a partnership with BAQME, a Dutch e-cargo bike-sharing company, to launch a first-of-its-kind service in the Belgian city of Ghent. Both companies will provide a fleet of e-bikes and e-cargo bikes to riders throughout the Belgian city as part of the service.
