The Cargo E-Bike market will reach 2 billion dollars by 2032

According to a report by Global Market Insights, the valuation of the expanding freight bicycle market will reach US $2 billion by 2032.

Due to the continuous innovation and increased choice of the personal mobile market. Consumer preference for these micro mobility and expensive vehicle options is steadily declining. Freight bicycle manufacturers have created a new target market for daily commuters.

With the rising cost of traditional travel such as taxi or fuel for consumers, and the problem of urban congestion that cannot be solved, the demand for electric trucks is increasing. With the implementation of automation technology and removable and rechargeable battery packs, manufacturers have the opportunity to produce mobile vehicles with more portability and ultra-thin functions.

By 2022, tricycle freight bicycles will account for more than 22% of the total freight bicycle market sales. These tricycles can be used in a wide range of applications, from leisure use to urban logistics, from small and medium-sized delivery to daily services. For example, waste collection and disposal. It also has a good application in large warehouse facilities and manufacturing centers. Three wheel freight bicycles will have a better application in short distance transportation of raw materials and equipment.

For the catering sector of the freight bicycle market, it is expected that this share will grow at a compound annual growth rate of 8.9% from 2023 to 2032. Restaurants and suppliers have been using online meal delivery services for some time. With the introduction of "cloud kitchen", the use of electric freight bikes will greatly improve the delivery method. They certainly hope to take greater action. When using freight bikes, you can bypass urban traffic and pass through smaller spaces. It is even easier, faster and more legal to avoid congestion than motorcycles and scooters. The demand for sustainable transportation will promote enterprises and delivery staff to replace their old transportation modes with electric freight bikes.

By 2032, the offline sales of freight bicycles are expected to increase by about 8.5%. Despite the existence of online retail of electric bicycles, these figures still exist. The customer still prefers face-to-face communication with the sales staff, who can personally touch and test the bike, and personally check the small tools and accessories attached to the car. Even if the disposable income increases, the traditional way of buying bicycles in person will not decrease, especially for those who want to buy high-end models. Electric bicycles are still an important investment for most people.

Bicycle rental services in Mexico, Brazil and other countries can help many tourists sightseeing. Now there is a growing demand for freight bicycles, which will increase the demand for manufacturers in Latin America. In order to promote the development of tourism, Argentina has invested 33 million dollars in bicycle infrastructure, and has formed and built bicycle lanes, shelters, viewing platforms and campsites.