Growth Of E-Commerce and the Increase in Last-Mile Deliveries has Propelled the Growth of the Electric Cargo Bikes Market in the APAC Region! 

The growth of e-commerce and the increase in last-mile deliveries has propelled the growth of electric cargo bikes in the Asia Pacific region. There are several drivers behind this trend, including environmental concerns, cost savings, and government incentives. One of the main drivers of the growth of electric cargo bikes in the Asia Pacific region is the increasing awareness of environmental concerns. With the rise of e-commerce and last-mile deliveries, there has been a corresponding increase in the number of delivery vehicles on the road, leading to congestion and increased emissions. Electric cargo bikes provide a sustainable alternative to traditional delivery vehicles, producing zero emissions and reducing traffic congestion.

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Another key driver of the growth of electric cargo bikes is cost savings. Traditional delivery vehicles can be expensive to purchase, maintain, and operate, particularly in densely populated urban areas. Electric cargo bikes, on the other hand, have lower upfront costs, lower maintenance costs, and lower fuel costs, making them an attractive option for businesses looking to reduce their operating expenses.

Further,the Electric Cargo Bikes Market is expected to grow at a strong CAGR of 10 % during the forecast period (2022-2028). Government incentives have also played a role in driving the growth of electric cargo bikes in the Asia Pacific region. Many countries in the region, including China, Japan, and Singapore, have introduced subsidies and other incentives to encourage the adoption of electric vehicles, including electric cargo bikes. These incentives have helped to lower the upfront costs of purchasing electric cargo bikes and have made them a more attractive option for businesses.

Recent developments by companies in the field of electric cargo bikes include the launch of new models with improved range and cargo capacity, as well as partnerships with e-commerce platforms and logistics companies. In September 2021, Chinese e-commerce giant Alibaba announced a partnership with electric cargo bike manufacturer Bink to develop a fleet of electric cargo bikes for last-mile deliveries in Shanghai. In August 2021, Singapore-based electric cargo bike manufacturer Neuron Mobility announced that it had raised $30 million in funding to expand its operations across the Asia Pacific region. These developments demonstrate the growing importance of electric cargo bikes in the e-commerce and logistics industries in the Asia Pacific region.

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Based on product type, the market is segmented into two wheeled, three wheeled, and four wheeled. The two-wheeled segment of the electric cargo bike market has been experiencing a surge in popularity, leading to a dominating share in recent years. There are several drivers behind this trend. Firstly, electric cargo bikes provide an environmentally-friendly and cost-effective alternative to traditional delivery methods. With the rise of e-commerce and last-mile delivery, companies are seeking sustainable solutions that also reduce operational costs. Electric cargo bikes are able to navigate through congested urban areas, bypassing traffic and reducing delivery times, making them a highly efficient option. Secondly, the COVID-19 pandemic has accelerated the adoption of e-commerce, leading to an increase in demand for last-mile delivery services. With restrictions on personal mobility and social distancing measures, electric cargo bikes provide a safe and efficient means of transportation, ensuring timely and reliable delivery of goods.

By battery type, the market is bifurcated into lithium-ion and others. The lithium-ion segment of the electric cargo bikes market has a dominating share due to several drivers. First, lithium-ion batteries offer several advantages over other types of batteries, including higher energy density, longer cycle life, and faster charging times. This makes them ideal for use in cargo bikes, where long-range and quick charging are essential. Second, lithium-ion batteries have become increasingly affordable in recent years, making them a more attractive option for manufacturers and consumers alike. This has led to a proliferation of electric cargo bike models that use lithium-ion batteries, which has further strengthened their dominance in the market.

Global Electric Cargo Bikes Market Segmentation

Market Insight, by Product Type

· Two Wheeled

· Three Wheeled

· Four Wheeled

Market Insights, by Battery Type

· Lithium Ion

· Others

Market Insights, by End-Users

· Residential

· Commercial

· Others

Market Insight, by Region

· North America

o U.S.

o Canada

o Rest of North America

· Europe

o Germany

o UK

o Italy

o France

o Rest of Europe

· APAC

o China

o Japan

o India

o Rest of APAC

· Rest of the World

Top Company Profiles

· Butchers & Bicycles

· CERO INC.

· DOUZE Factory SAS

· Jiangsu Xinri E-Vehicle Co. Ltd.

· Kocass End-Use Co. Ltd.

· Rad Power Bikes Inc.,

· Riese & Müller GmbH ·

· Worksman Cycles.

· Xtracycle Cargo Bikes

· Yuba Electric Cargo Bikes