Electric Cargo Bikes Market in terms of value is estimated to register 20% CAGR during the forecast period.

NEW YORK, NEW YORK, USA, January 16, 2022 /EINPresswire.com/ -- Electric Cargo Bikes Market in terms of value is estimated to register 20% CAGR during the forecast period.

The global market expected to witness rapid growth during the forecast period. Europe is expected to dominate the market. The existing infrastructure and major players in this region provide the market in Europe with ample opportunities for significant growth in the forecast period. Moreover, authorities in Europe are taking collective efforts towards controlling rising air pollution levels and provide support in the form of incentives, subsides, and schemes to encourage the manufacturing and sale of electric vehicles. Also, in the framework of the National Development Plan for Electric Mobility, the Federal Government is preparing to establish Germany as a leading market with at least a million vehicles by 2020, creating opportunities for the electric cargo bike market in Germany.

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In 2018, Asia-Pacific held the second largest market share in the global market. The Asia-Pacific market held the second largest market share in the global market. Asia-Pacific has witnessed rapid growth in the recent times owing to as the key players in the region are heavily investing in electric cargo bikes by developing advanced electric cargo bikes to increase the adoption of such vehicles. The effective initiatives taken by the governments of countries such as China, Japan, India, and Singapore for the development of electric vehicle charging stations by focusing on investing in development of the charging infrastructure is expected to drive the electric cargo bike market.

Major Key Players:

The Key Players of the Global Electric Cargo Bikes Market are

Rad Power Bikes LLC (US)
Jiangsu Xinri E-Vehicle Co.
Ltd(China)
Cero Electric Cargo Bikes(US)
Yuba Electric Cargo Bikes (US)
Kocass Technology Co.
Ltd.(China)
Douze Factory SAS(France) and Xtracycle(US)
Worksman Cycles(US)
Riese & Müller GmbH(Germany) and Butchers & Bicycles(Denmark).

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Regional Analysis:

On the basis of region, the Electric Cargo Bikes Global Market is segmented as Europe, Asia-Pacific, North America, and the rest of the world.

North America is expected to witness an excellent growth and was the leading market with a market value of USD 4BN. The regional market value is expected to reach USD 4BN by 2025 with an impressive 20% CAGR during the forecast period. North America is one of the prominent markets in the global electric cargo bikes market. The electric cargo bike market is driven due to the government initiatives to encourage the adoption of all-electric cargo bikes for passenger and material transport. According to the official US government source for fuel economy information, the government has directed a regulation that offers a federal income tax credit to the owners of electric cargo bikes that are purchased after 2010, based on the capacity of the battery used to power the vehicle. Moreover, this region is known for the quick adoption of new technologies and has witnessed significant growth in the demand for electric cargo bikes in the past few years.

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Key Questions Addressed by the Report
What was the historic market size (2018)?
Which segmentation (Product Type / Battery type / End-use) is driving market?
What will be the growth rate by 2025?
How are the key players in this market?
What are the strategies adopted by key players?

Market Segmentation:

The Global Electric Cargo Bikes Market is segmented based on product Type, Battery Type, and End Use. On the basis of product type, the two-wheeler segment is expected to dominate the global market. The two-wheeler electric cargo bikes are usually standing/self-balancing bikes, which can be driven around for 120 km in a single charge depending on the weight that the bike carries. Generally, two-wheeler electric cargo bikes have a weight carrying capacity up to 100 kgs and are designed for hassle-free rides for both residential and commercial applications.

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By battery type, the Li-ion segment is expected to dominate the market. The batteries are widely use and are lightweight and efficient with high densities. The li-ion batteries have superior power density and cycling ability, playing an important role compared to other two types of batteries.

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