Summary of our market study

The global cargo bike market, valued at $900 million in 2022, is experiencing robust growth with an expected CAGR of 9% until 2032. Europe leads this market, accounting for 42.2% of the global share, with sales estimating between 400,000 to 500,000 units in 2022 alone, driven by electric cargo bikes and supported by government incentives and infrastructure. France, a key player, saw its market expand more than tenfold in five years, reaching 33,000 units sold in 2022, and created 219 full-time jobs in the same year. On the French market, electrically-assisted bicycles (VAEs) accounted for 3% of the EAB market with an average price of €4,118 in 2021. Recognized companies like Yuba and Douze Cycles are leaders in this sector. Despite the boom, there is an absence of European standards for cargo bikes, raising the necessity for industry-wide regulations, which are currently being developed.

Rising Tide of Cargo Bike Market in France

In recent years, France has observed a significant shift towards eco-friendly transportation, leading to a significant surge in the popularity and demand for cargo bikes. This shift is primarily driven by an increase in environmental awareness, urbanization, and support from local authorities endorsing greener modes of transit. The cargo bike has found its niche, appealing to a broad range of users from families to businesses, particularly in urban settings where conventional transportation emits pollutants and creates congestion.

The French cargo bike market has expanded rapidly, seeing a tenfold increase in sales over a five-year period, moving from a market worth between 3.1 and 5.1 million euros in 2018 to an estimated 42.3 to 52.3 million euros in 2023. This considerable growth is reflective of the cargo bike’s versatility, capable of catering to various needs such as urban cleaning, food vending, and particularly "last-mile delivery." The latter segment has seen substantial growth due to the explosion of e-commerce, prompting companies to consider cargo bikes as a viable, eco-friendly solution for deliveries within the city, especially with the rise in addressed items moved via postal circuits, totaling between 9.0 and 9.4 billion in France.

The French market's dynamic nature is underscored by its profound growth in employment within the sector. From an estimated 200 to 240 FTEs in 2022, the industry is projecting about 272 to 292 FTEs for 2023. This nearly 30% job increase is a testament to the industry's vitality and its expanding role in the French economy. Electrically-assisted cargo bikes command a significant market share, aligning with the French population's growing preference for electric over conventional bicycles. With around 55% of households owning at least one bicycle, the cargo bike industry has a ready market, particularly with about 10% of homes equipped with electric-assist bikes.

This receptiveness to innovation in mobility solutions reveals a society that's increasingly embracing sustainable transportation options. Moreover, the market outlook is promising; demand is anticipated to remain robust as cities continue to seek sustainable solutions and as families and businesses increasingly recognize the advantages of cargo bikes for transport and delivery purposes. In the face of rising living standards and the ongoing commitment to environmental conservation, cargo bikes in France are poised to play an increasingly central role in shaping the future of urban transportation.

Key Market Participants Shaping the Cargo Bike Industry Landscape

As the cargo bike market flourishes, particularly in urban centers where eco-friendly transportation is increasingly valued, several players stand out for their roles and contributions. These companies, often specialists in their segments, are leading the charge in shaping the cargo bike market, each with its unique brand philosophy, product offerings, and market strategies.

  • Yuba: With a mix of French flair and Californian innovation, Yuba has established itself as a frontrunner in the cargo bike market. The brand gained momentum with the popularization of its first electric cargo bike in 2018, catering to consumers seeking sustainable transportation without compromising on carrying capacity.
  • Douze Cycles: As a purveyor of high-end cargo bikes, Douze Cycles offers an exquisite product line tailored for both professionals and everyday riders. Their bikes reflect a blend of technical prowess and design, warranting attention from those who seek performance as well as style.
  • Nihola: With a unique business model focusing on assembly and distribution, Nihola stands out for its commitment to localized production. The majority of its bike parts are machined in France, catering to a market that values locality and sustainability.
  • Kiffy: Kiffy's dynamic presence in the French market is characterized by its innovative design and practicality. Their bikes offer a seamless riding experience coupled with the convenience of carrying various loads, catering to the active, urban cyclist.
  • Oklö: Partnered with the renowned retail giant Décathlon, Oklö brings cargo biking to mainstream markets. Their approachable brand and accessible sales model through both physical stores and online platforms have expanded the reach of cargo bikes to a wider demographic.
  • Cyclable: With a robust franchise network and a concept strongly rooted in urban centers, Cyclable has become synonymous with passion and lifestyle in the biking community. Its multibrand offerings and enthusiast-driven stores cater to city dwellers who seek more than just a bike - they seek a biking experience.
  • Altermove: Originating from the house of Mobivia, known for automotive service brands like Norauto and Midas, Altermove has quickly adjusted its gear to the electrification trend in personal transport. With a focus on electric mobility solutions, Altermove's stores are a go-to for eco-conscious commuters.

Together, these players are not just selling cargo bikes; they are advocating a greener and more sustainable way of life. They are the pioneers championing urban transformation through eco-friendly transport, making cargo bikes a staple

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Summary and extracts

1 Market overview

1.1 Definition and scope of the study

The cargo bike is a two- or three-wheeled land vehicle, sometimes electric, designed to carry heavier loads than a conventional bicycle. Cargo bikes are used for a variety of purposes, the most common of which are :

  • cargo bikes for urban cleaning;
  • food bikes (coffee bikes, waffle bikes, etc.);
  • Freight transport/delivery bikes.

The global cargo bike market has been growing exponentially for several years, currently valued at $900 million, and is expected to increase at a CAGR of 9% until 2032. In Europe alone, between 400,000 and 500,000 bikes were sold in 2022. Cargo bikes, most of them electric, meet a growing demand for new modes of transport in increasingly urbanized environments. Their popularity is also due to rising living standards and global environmental awareness.

The cargo bike market is also very dynamic in France, with a market size multiplied by more than ten in five years and 33,000 units sold by 2022. The majority of cargo bikes sold are electric and imported. The range is extremely varied, with models on average much more expensive than other electrically-assisted bicycles (EABs), and three-wheelers (cargo bikes with three wheels) are the biggest sellers.

There are no major players in the global cargo bike market, as the majority are SMEs. In France, the biggest player is Yuba, a Franco-Californian company, but new entrants are constantly arriving on the market, increasing the number of jobs.most of the companies offering cargo bikes originally specialized in electric bikes, and have recently diversified their offer in response to the boom in this new type of transport. Major retailers are just beginning to offer cargo bike models, such as Décathlon' s Oklö and Toyota' s Cargo Verso. However, the preferred distribution channels remain retailers.

1.2 A fast-growing global market

The global cargo bike market was estimated at $*** million in ****, and is expected to grow at a CAGR of *% to ****.

Global cargo bike market size projections World, **** - ****, in $ millions Source: ****

This growth is driven by a growing interest in recreational activities. This segment is also benefiting from urbanization, rising living ...

1.3 The European market leads the way

To study the outlook for the European market, we use a survey carried out by CCCB (***) on ** European cargo bike companies.

Survey of ** European cargo bike vendors: market outlook Europe, ****-*****, in number of bikes sold Source: ****

The graph above shows the market growth outlook. Sales volumes continue to grow year ...

1.4 A very dynamic French market

Although cargo bikes have been around for many years, it's the electrification process that's giving them a new lease of life these days, along with the support of local authorities.for example, the Ile-de-France region has launched three models (***). The cities of Grenoble, Strasbourg and Nantes also offer them for ...

1.5 A trade balance heavily weighted towards imports

According to theCycle **** Observatory, **% of cargo bikes sold in **** were manufactured in France, corresponding to *,*** units. France is therefore a major importer in this sector. Unfortunately, we do not have access to French foreign trade figures for the very specific cargo bike sector.s by customs tariff number ******, which covers"Motorcycles, ...

2 Demand analysis

2.1 Cargo bike uses and users

Bicycles are the best-selling means of transport in France, just ahead of scooters and cars.

Most popular means of transport in France France, ****, in Source: ****

According to a report published byAdeme in April ****, **% of French households own at least one bicycle. Of these, **% have at least one conventional bicycle. What's more, ...

2.2 Home delivery in the city, a growth segment for cargo bikes

E-commerce is undergoing a period of significant growth, particularly in the wake of the health crisis. According to the Fevad (***) **** report, the sector has recorded solid growth, with total sales of ***.* billion euros, an increase of **.*% compared to ****[Francenum.as a result, withurbanization facilitating delivery by cargo bike, the development of ...

2.3 Year-round bicycle use

If bicycles are now present in more than half of all French households (***), it's thanks to the diversification of their uses. While the leisure bike is still mainly used in summer, its daily use for utility purposes is becoming increasingly popular, and the"velotaf", the practice of using one's bike to ...

2.4 The key role of the public sector

The public sector has an important role to play in the development of the bicycle sector in France, which is not yet the case according to **% of French people.

In your opinion, does France encourage the use of bicycles as a means of transport? France, ****, in Source: ****

To remedy this situation, ...

3 Market structure

3.1 Company and production structure

Source: ****

The boom in electric cargo bikes in France has led to an increase in the number of players in this sector. The best-known are Douze Cycles, O*Feel, Moustache and Kiffy, which offer a high-end range of electric cargo bikes for professionals and individuals. Yuba, a Franco-American brand, popularized its ...

3.2 Overview of the French market

In ****, *,*** cargo bikes manufactured in France were sold. Most of these were three-wheelers or tricycles, accounting for **.*% of volumes produced.

Number of cargo bikes or trailers produced in **** France, ****, in units Source: ****

Next in line are two-wheelers (***), which are integrated into cargo bikes. The cargo bike sector has been gaining in ...

3.3 Distribution focused on retailers and multisport chains

By ****, the French market for VAE (***) after VTCs.

Breakdown of EAB sales by product category France, ****, in % of volumes Source: ****

Retailers and multisport chains dominate distribution in the bicycle market. In terms of value, retailers account for **% of the market, ahead of multisport chains (***). In terms of volume, multisport chains dominate ...

3.4 Delivery market structure

With the cargo bike set to become an increasingly important part of the delivery process, it's worth taking a look at the structure of the current delivery market. France is the third largest e-commerce market in Europe and the sixth largest in the world, making it a significant opportunity for e-tailers ...

4 Offer analysis

4.1 Typology of supply and price of cargo bikes

There are three main types of cargo bike, each designed for a different purpose, and listed in the table below:

For the prices shown in the table, we selected the top price in each category from the HollandBikes brand website, and used information from UFC Que Choisir and vélos-cargo. ...

4.2 Consistent average prices

Electric cargo bikes rank first among the most expensive e-bikes, with an average price of €*,*** in ****.

EAB price trends, by product category France, **** vs ****, in Source: ****

Electric cargo bikes come in a range of prices, depending on the model chosen. The initial cost for a simple two-wheeler without suspension is around ...

4.3 Battery prices have a major impact on the final price

VAE batteries can vary in voltage. The most commonly used are ** and ** V. However, **.* and ** V batteries are also available. According toAvem, the four most common battery categories for electric-assist bicycles are as follows:

" Lead-acid or lead gel batteries (***) and a lifespan of around *** charge/discharge cycles

Nickel-metal hydride (***) and ...

4.4 Characteristics of different cargo bikes

Below is a more detailed typology of the different types of cargo bikes found on the French market, for both private and professional customers. However, cargo bikes for professionals can also be custom-designed, as offered on the ILI Cycles website.

Source: ****

5 Regulations

5.1 Current regulations

The ISO **** standard

The ISO **** standard was introduced in **** and recently revised in ****. It defines all the terms and designations relating to safety and performance requirements for bicycles and bicycle-related sub-assemblies. These are important codifications to observe during design, assembly as well as testing. The bicycles concerned include

Young adult bikes ...

5.2 Current lack of regulations for cargo bikes

According to Olivier Mouche-Boeuf, from Union Sport & Cycle (***), "there are as yet no European standards for three-wheeled cargo bikes, with or without electric assistance".

The industry is therefore working on the subject. In France, Afnor has already established a standard for "utility" bikes, NF*****, which includes static and dynamic stability ...

6 Positioning the players

6. Player segmentation

  • Douze Cycles
  • Nihola
  • Kiffy O2SWITCH
  • Cyclable
  • Oklö
  • Altermove (Mobivia Groupe)
  • Cogepart
  • Colis Privé
  • Colisweb
  • Stuart
  • Yuba
  • Toyota
  • VUF Bikes
  • Kleuster - Jean Lain Automobiles
  • Calendar Bikes
  • Arcade Cycles
  • Gaya Bike
  • Jhog

List of charts presented in this market study

  • Projected size of the global cargo bike market
  • Survey of 38 European cargo bike dealers: market outlook
  • Countries most cited as the most dynamic European market among the 38 survey participants
  • Share of electric cargo bikes in the overall distribution of the 38 survey participants
  • Best-selling means of transport in France
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Latest news

Why Douze Cycles believes its cargo bike market will continue to grow - 09/10/2023
  • Douze Cycles has just set up a second cargo bike assembly workshop in Longvic.
  • The brand works with 220 dealers in Europe, including 80 in France
  • It also supplies fleets to local authorities (Véligo in Ile de France, etc.) and assembles for 2 cycle brands and Toyota France (3-year contract for 5,500 aluminum electric-assist cargo bikes)
  • 2023 target: 3,000 cargo bikes, almost all electrically assisted, including 500 from Toyota
  • Former Medef boss Geoffroy Roux de Bézieux's investment fund holds 25% of the capital
  • By 2024, there will be 6,000 cargo bikes, including 2,000 for Toyota.
  • The new workshop has a capacity of 6,000 bikes
  • In 2022, 33,000 cargo bikes were sold in France, almost double the figure for 2021.
  • The forecast for 2024 is 50,000 units
  • The Toyota electric two-wheeler sells for 6,195 euros, excluding accessories
  • Decathlon has just launched a longtail model at less than 3,000 euros.
Delivery: La Poste stops charging with Stuart - 19/09/2023
  • La Poste acquired Stuart in 2017.
  • Stuart operates in over 100 cities in Europe.
  • It has over 200 employees in France.
  • Stuart generated sales of 400 million euros.
  • Seventh acquisition of the German Mutares group in 2023.
  • In recent years, Mutares has taken over numerous other companies in difficulty in France.
Toyota promises batteries that will make Tesla green with envy - 05/07/2023
  • Toyota is the world's leading automaker, with 10.6 million vehicles sold last year.
  • Toyota plans to sell 1.5 million electric cars in 2026, 60 times more than last year.
  • The group plans to market models with solid batteries in 2027-2028.
  • from 2025-2026, Toyota promises models with a range of 1,000 kilometers on lithium-ion batteries, requiring just 20 minutes to increase the charge from 10% to 80%.
  • Between 2026 and 2027, Toyota plans to rely on 'low-cost' bipolar liquid batteries providing 1,100 kilometers of range and recharging to 80% in thirty minutes.
  • Toyota will start equipping its cars with solid batteries from 2027
Arcade Cycles: championing the reindustrialization of bicycles in France - 30/06/2023
  • Arcade Cycles is building a production unit 2.5 times larger, i.e. 15,000 m2 compared with 6,000 m2 previously.
  • The company had 122 employees and sales of close to 40 million euros in 2022.
  • Future production capacity will be 180,000 bikes a year, compared with 60,000 previously.
  • Electric bike production is set to double by 2030.
  • The majority of components needed to manufacture the bikes currently come from Asian suppliers (80%).
Gaya wants to capitalize on the trend for recumbent bicycles - 24/05/2023
  • Launch of Gaya in 2021.
  • Fundraising of 2 million euros
  • Market launch in June 2022, with 1,000 bikes sold.
  • Repairable batteries from Bordeaux start-up Gouach.
  • Opening of a boutique along the Canal Saint-Martin and organization of tests in Nantes, Lyon and Bordeaux.
  • Launch of a new range of bikes planned for 2024.
VUF Bikes makes a breakthrough with its cargo bikes - 20/03/2023

The company intends to triple production by 2023 (to exceed 10 million euros in sales) and is aiming for 1,500 electric scooters a year within three years.

  • - 500 electric scooters sold in 2019
  • - Unit price between 8,000 and 10,000 euros
  • - 600,000 euros raised
  • - 90% of value created in France
  • - Export to Belgium, Germany and Switzerland

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Douze Cycles
Nihola
Kiffy O2SWITCH
Cyclable
Oklö
Altermove (Mobivia Groupe)
Cogepart
Colis Privé
Colisweb
Stuart
Yuba
Toyota

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