Wonder

Cargo Bikes

Delivered October 1, 2019. Contributor: Mia G.

Goals

To understand the global and US market size, projected growth, and major players in the cargo bike market to help a fundraising pitch. 

Early Findings

MARKET SIZEThe 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 PROJECTIONSThe 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.

Proposed next steps:

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Based on our background research, the available information is mostly on a global scope. However, we recommend continuing the research to include more information about the global cargo bikes market, 1) market size, 2) growth projection, and 3) 2-3 major global players including further research on their features and usage.

In addition, we propose a deeper dive in the cargo bikes market in the US to include 1) market size 2) growth projection; and 3) 2-3 major players in the US including further research on their features and usage.

We also recommend identifying 2-3 major trends driving the growth of cargo bikes in the market, including 1-2 examples of companies at the forefront of using this trend 1) globally and 2) in the US.