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Call for Organized and Eco-Friendly Traffic to drive the Electric Cargo Bikes Market
The global Electric Cargo Bikes market is slated to reach US$ 1.9 Bn at a CAGR of 9.1?tween 2021 and 2031.
Electric cargo bikes are preferred when transportation of bigger loads and luggage, especially on two wheels, comes into picture. These days, e-cargo bike market is such that there are specially-designed frames available, which could simplify the task of carrying heavier, bigger loads. The objective of eco-friendliness is also fulfilled by use of electric cargo bikes.
Rapid urbanization is accompanied with traffic congestion and air and noise pollution, which, in turn, impacts health. In cases like these, commercial cargo bikes and cycle truck prove to be non-congested, sustainable, practical, and an all-inclusive alternative to last- and first-mile deliveries, family vehicles, and general logistical service provision.
The developed economies are full-on with adoption of electric cargo bikes, but it will take time for the developing economies to get completely into them as the initial costs are high. Types of electric cargo bikes include electric cargo bicycle, carrier cycle, freight tricycle, electric delivery bikes, cycle truck, and electric bike wagon.
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The Way the Electric Cargo Bikes Market is Categorized…
The global electric cargo bikes market, by type of product, spans two-wheeled electric cargo bikes, three-wheeled electric cargo bikes, and four-wheeled electric cargo bikes. By type of battery, it’s Nickel-based, Lead-based, and Lithium-ion-based. By end-use, it’s electric cargo bikes for courier & parcel service providers, electric cargo bikes for large retail suppliers, electric cargo bikes for personal transportation, electric cargo bikes for service delivery, and electric cargo bikes for waste, municipal services. Out of these, Lithium-ion-based batteries hold the largest market share due to better cycling ability and power density. Also, electric cargo bikes for courier & parcel service providers dominate, especially after an increase in frequency of sorting parcels, collecting parcels/couriers, and getting parcels transferred to depots.
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What’s with the Regions?
The e-mobility industry in the US is well-backed by the government. As such, extensive research is being conducted in the electric cargo bikes sector. Australia is also emerging as a substantial hub of electric cargo bikes market, followed by the UK and Canada. These 4 countries hold the distinction of being matured economies. As such, they can try out various permutations and combinations regarding the release of electric cargo bikes.
Stint with the Key Players
The key players in electric cargo bikes market include Jiangsu Xinri E-Vehicle Co. Ltd., Jinhua Jobo Technology Co., Ltd., CERO Electric Cargo Bikes, Worksman Cycles, Souze Factory SAS, XYZ Cargo, Butchers & Bicycles ApS, Nihola, Babboe, Yuba Electric cargo Bikes, BODO Vehicle Group Co., Ltd., (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Carqon (Accell Group N.V.), XCYC (Gemeinnutzige Werkstatten und Wohnstatten GmbH), Riese & Muller GmbH, Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings Ltd.), Pedego Electric Bikes, Xtracycle Inc., Amsterdam Bicycle Company, and Triobike.
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Electric Cargo Bikes are the future of the automotive vertical, especially when it is known that petroleum reserves are nearing depletion. Environmental hazards are there to address. In all, resorting to electric cargo bikes will help the ecosystem as well as humankind.
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