MARKET SIZE

• The cargo bikes market was valued at $402.5 million in 2018 and is expected to reach $1,095.1 million in 2026.

• A study from the Persistence Market Research saw 94,988 global unit sales of electric cargo bikes in 2018.

GROWTH PROJECTIONS

• The cargo bikes market is projected to grow at a 14% CAGR from 2018 to 2026.

• E-cargo bikes are seen to be a great alternative to about 20% of delivery vans operating in some large cities.

• Cargo bikes are also being used by families cycling with kids. Of the three types of cargo bikes - longtail, longjohn, and front-load trike - longjohn is very popular in the Netherlands as well as in the other European countries, but not yet commonly seen in the US.

MAJOR PLAYERS

•  Urban Arrow combines a van’s load capacity and the agility of an e-bike. It can hold from 250 to 750 liters of a load.

•  Radburro is a “bulit-for-business etrike”. It has a 500w geared electric motor, safety lights, and pneumatic tilt among other features.

•  Rytle has developed a machine-to machine communication wherein couriers can work with smart glasses and provide information about the location and status of a certain package. The technology used by Rytle helps in using this information to track a shipment online.