Europe Electric Cargo Bikes: Product Segmentation

Europe Electric Cargo Bikes: Product Segmentation

DMI segments the Europe Electric Cargo Bikes Market geography into Germany, U.K., France, Italy, Spain and Rest of Europe

2021-03-04

Europe Electric Cargo Bikes Market Is Segmentation By Product 

"The market for two-wheeled electric cargo bikes valued USD 123.54 million in 2019 and is estimated to grow at a CAGR of 27.43% over the forecast period to reach a USD *** million by 2027."

 The segment accounted for nearly 40% of the total dollar revenue in the market. A two wheel electric cargo bike actually handles the same as a regular bicycle. The construction of a two-wheeled electric cargo bike allows two children and groceries with the help of an attached box (for cargo). Keeping the box balanced is a bit harder when it is loaded. In order to rectify this problem companies mounted only one bench in the cargo bike. However, it is possible to expand the seating room in the cargo bike to 4. In addition, companies are developing products which are suitable for long distance cycling also with electric pedal assistance. 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.

The major benefits two-wheeled electric cargo bikes are:

  • Bikes are easy to maneuver and closely mirror the mechanics of a normal bicycle
  • Kids are able to climb in themselves because the basket is situated closer to the ground
  • Bikes with 2 wheels are lightweight and easier to store.

Two wheeled cargo bikes are perfect for those who regularly do heavy hauling or are responsible for transporting others. In North America, the quintessential “soccer mom” is pictured driving a minivan but in the Netherlands she rides a Bakfiets. For trips of 5 miles (8 kilometers) or less, cargo bikes are the most suitable family vehicle and the most affordable work truck

Three-Wheeled electric cargo bikes 

Three-Wheeled or tricycles are the largest sold type of e-cargo bikes in the Europe region. The segment accounted for nearly 55% of the total dollar revenue in the market These bikes are extensively in use for parcel services and retail goods supply owing to their economical and ecological benefits over conventional trucks. The rising freight services, particularly in the urban locations of Europe is propelling the growth of the market. Moreover, the increasing demand from personal transportation applications from young parents led this as the most lucrative growth segment.

“The market for three-wheeled electric cargo bikes valued USD 167.00 million in 2019 and is estimated to grow at a CAGR of 28.06% over the forecast period to reach a USD *** million by 2027”

Three Wheel cargo bikes have baskets that have two wheels attached to it, in addition to the main back wheel. To steer three wheel bikes, you have to turn the entire basket. This form of cargo bike enables riders to transport children and pets, and is excellently suited for large freight loads. These bikes are extremely useful for the small scale vendors. Cargo bikes are great for those adventurous small business owners who don’t want to waste money on using taxis, renting trucks, or using a delivery service.

The major advantages of of three-wheeled electric cargo bikes:

  • It is a lot easier to load gear onto this bike because it doesn't have to be balanced
  • While transporting a heavy freight on average, the bike can be outfitted with an electric motor to help on the tough uphill. This allows for the user of the bike to conserve energy, which allows them to do more work.

“The market for four-wheeled electric cargo bikes valued USD 12.82 million in 2019 and is estimated to grow at a CAGR of 8.13% over the forecast period to reach a USD *** million by 2027.”

The segment accounted for nearly 4% of the total revenue in the market. As compared to two-wheeled and three-wheeled electric cargo bikes the usage of four wheeled electric cargo bikes is limited. Since, these bikes are heavier as compared to other bikes. Also, these bikes have typically slower cruise speeds, are more complex to maintain, and have a larger turning circle. However, these bikes are safer in traffic.

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