Explanation of the growth of light electric freight vehicles in city logistics

Abstract

Research finds that the global market value of cargo bikes will hit 2.4 billion
euros by 2031. Analysts with Future Market Insights assessing the growth
of cargo bikes have placed the parcel courier industry as a key buyer of
electric cargo bikes, forecasting that 43 per cent of sales could go to this industry.
This growth is driven by city logistics trends, particularly as studies
emerge showing the high efficiency and cost saving of the cargo bike versus
the delivery van. It will not solely be direct incentives that drive uptake,
however. The policy that restricts motoring and emissions is expected to be
a key driver for businesses that seek profitability, with three-wheeled electric
cargo bikes making up nearly half the market. The advance of e-bike
technology has seen a strong rise in market share for assisted cargo bikes,
now accounting for a 73 per cent market share. Potentially limiting the
growth is the legislation governing the output and range of electric cargo
bikes (FMI, 2021).