Electric Bikes Is Fastest Growing Segment Fueling The Growth Of The Global Cargo Bike Market
Cargo Bike Market The global Cargo Bike Market is estimated to be valued at US$ 1465.41 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Cargo bikes are utility bicycles designed to transport cargo. They allow transportation of goods in an environmentally sustainable way. They come equipped with large luggage carriers and enable transport of children, pets, or goods for commercial purpose. Market key trends: One of the key trends driving the growth of cargo bike market is rising adoption of electric cargo bikes. Electric cargo bikes are gaining popularity as they reduce the physical exertion required for transportation of cargo over long distances. They are equipped with electric motors that assist pedaling and enable transport of heavier cargo load. Their growing sales can be attributed to benefits such as cost-effectiveness, low maintenance, zero...