Electric Cargo Bike Market Predicted to Accelerate the Growth by 2024-2033
An electric cargo bike is a bicycle with an electric motor that is used to assist the rider in pedaling. Cargo bikes are designed to carry heavy loads, and electric cargo bikes are typically equipped with a cargo rack or box on the front or back of the bike. Electric cargo bikes are becoming increasingly popular as a sustainable and efficient alternative to cars for carrying cargo, especially in urban areas.
The Electric Cargo Bike Market size was USD 14.5 Billion in 2022 and is anticipated to reach USD 30.3 Billion in 2032, growing at a rate of 7.5% from 2023 to 2032.