Electric Cargo Bike Market Poised for 11.7% Growth to $7.2B by 2032 Amid Sustainability Push
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Electric cargo bike market projected to reach $7.2 billion by 2032, registering a CAGR of 11.7% from 2023-2032 (Allied Market Research report)
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Growth driven by demand to reduce traffic congestion, rise of e-commerce/last mile delivery, sustainability awareness to cut emissions
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Challenges include lack of infrastructure, high costs, charging issues
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Opportunities from government support, technology advances
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Asia Pacific held highest 2022 market share; LAMEA expected to see 14.4% CAGR 2023-2032