- Cargo bikes are in high demand owing to their environmental-friendly and pocket-friendly nature; The global cargo bike market is estimated to show expansion at attractive CAGR of ~15% during the assessment period 2020–2030
- The North American and European cargo bike market is likely to show upward demand graph in the forthcoming years
ALBANY, N.Y., Jan. 4, 2021 /PRNewswire/ -- In recent few years, there is remarkable growth in the use of cargo bike from all across the globe, specifically in developed countries. This growth is attributed to considerable awareness about the economical and environmental advantages of these vehicles. Owing to this factor, vendors from the global cargo bike market are projected to gather promising sales opportunities from several developed regions of the world.
The researchers at Transparency Market Research (TMR) highlight that the global cargo bike market is likely to expand at CAGR of ~15% during the assessment period of 2020–2030. Thus, the market is expected to reach to the valuation of over US$ 6.3 Bn by 2030.
The government bodies of many countries across the globe are growing focus toward encouraging for the use of environmental-friendly transportation mode. This scenario is promoting cargo bike manufacturers to design electric models. Owing to this factor, the global cargo bike market is slated to experience promising pace of expansion during the forecast period of 2020 to 2030.
Cargo Manufacturers Focused on Innovating Products
The companies working in the global cargo bike market are increasing investments in research activities. This move is helping enterprises in the development of technologically advanced products. For instance, many players are in the process of developing self-driving cargo bikes. These products are intended to be used for executing delivery operations without any human involvement. This scenario shows that the global cargo bike market will gain prodigious expansion opportunities in the year ahead.
Growth in Number of Commercial Deliveries Spurs Demand for Cargo Bikes
The increased penetration of Internet all over the world has resulted into growing number of people shopping through online sales channels. As a result, there is considerable growth in the commercial deliveries worldwide. This factor is creating prominent sales opportunities in the global cargo bike market.
Explore 300 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Cargo Bike Market (Number of Wheels: Two Wheeled, Three Wheeled, and Four Wheeled; Application: Courier & Parcel Service Provider, Large Retail Supplier, Personal Transportation, Waste, Municipal Services, and Others; Propulsion: Electric Cargo Bike and Diesel/Gasoline Cargo Bike; and Ownership: Personal Use and Commercial/Fleet Use) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/cargo-bike-market.html
Cargo Bike Market: Growth Boosters
Cargo bikes are gaining huge popularity in recent few years. This scenario is due to the ability of these vehicles to provide high user convenience together with minimum requirement of maintenance. Apart from this, one of the important factors pushing the adoption of cargo bikes is rising traffic-related issues in many urban regions of the world. Owing to all these factors, there is remarkable growth in demand for products from the global cargo bike market from developed countries.
The government bodies of many countries worldwide are taking initiatives to minimize the negative impact of increased number of vehicles and growing urbanization in the world. Many government as well as non-government bodies across the globe are utilizing the cargo bike services for several disaster relief activities. This factor is likely to boost demand opportunities in the global cargo bike market in the years ahead.
Analyze global cargo bike market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Cargo Bike Market: Well-Established Participants
The report profiles following important players operating in the cargo bike market:
Folding Bikes Market – global folding bikes market is estimated to surpass a market valuation of US$ 213,200 Mn by 2026, expanding at a CAGR of 5.2% during the forecast period (2017-2026). Increasing focus on innovation continues to create new growth avenues in the bike manufacturing industry
Microcars Market – Growing environmental concerns, increasing fuel prices, and traffic congestion globally have laid emphasis on improving transportation facilities. Thus, vehicle manufacturers are focusing on the development of comfortable, affordable, and fuel-efficient small vehicles. This is likely to boost the microcars market during the forecast period.
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