Electric Bicycles - Sweden | Statista Market Forecast

Revenue in the Electric Bicycles market in Sweden is forecasted to reach US$413.90m in 2024.
This projection anticipates an annual growth rate (CAGR 2024-2029) of 7.06%, leading to a projected market volume of US$582.20m by 2029.
The unit sales of Electric Bicycles market in Sweden are expected to hit 260.60k bicycles in 2029.
The volume-weighted average price of Electric Bicycles market in Sweden in 2024 is expected to be US$2.19k.
Looking at an international scale, it is evident that China will generate the highest revenue, amounting to US$12bn in 2024.
In Sweden, the Electric Bicycles market is experiencing a surge in demand due to government incentives for sustainable transport options.

Definition:

Electric bicycles are means of transport designed to transport people and goods for professional and private purposes. They are used for leisure activities such as travelling or for physical exercise. Depending on the specific purpose and rider, bicycles come in different shapes and features.

They are powered by combination of human strength and by electrically powered motors.

In recent years, different renting models have been established such as bike-sharing, in which bicycles can be rented for a defined period in exchange for a fee. These rented bikes are not included in this market outlook. Only bikes that were purchased for ownership are covered.

Structure:

The electric bicycles market covers all types of bicycles with electrical assistance, including road and racing bicycles, off-road bicycles, and special purpose bicycles. However, motorcycles, scooters, mopeds, secondhand bicycles, as well as bikes purchased by bike-sharing services are not included.

Additional information:

The market comprises the number of bicycles sold, the average price paid per bicycle, revenue, and revenue growth as the key performance indicators. Revenue is derived as the product of the average price per bicycle times the number of bicycles purchased. Therefore, revenue excludes any profits from bike-sharing fees. Revenues are including VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.

Electric Road and racing bicycles such as cruiser, e-standard, e-gravel road-,e-touring-, and e-fixed gear bikes

Motorcycles, scooters, mopeds, regular bicycles
Secondhand bicycles
Bike-sharing bicycles
Rented bicycles

The Electric Bicycles Market in Sweden has been facing subdued growth due to factors such as limited infrastructure, high costs, and lack of awareness. However, with increasing environmental concerns and government initiatives, the market is expected to experience significant growth in the coming years.

Customer preferences: As sustainability becomes a growing concern in Sweden, consumers are increasingly opting for electric bicycles as a more environmentally friendly mode of transportation. This trend is further fueled by the country's high bike culture and investment in bike-friendly infrastructure. Additionally, the rise of e-bike sharing programs and the convenience of electric bikes for daily commuting are driving the market's growth.

Trends in the market: In Sweden, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand, driven by a growing interest in sustainable transportation and government initiatives to reduce carbon emissions. Furthermore, the market is witnessing a shift towards lightweight and foldable electric bicycles, making them more convenient for urban commuters. This trend is significant as it allows for easier storage and transportation, making electric bicycles a more viable option for everyday use. The implications for industry stakeholders include the need for manufacturers to focus on innovation and design to meet consumer demands, as well as the potential for increased competition in the market. Additionally, this trend could lead to a decrease in car usage and promote a more environmentally-friendly mode of transportation.

Local special circumstances: In Sweden, the Electric Bicycles Market within the Bicycles Market is influenced by the country's strong emphasis on sustainability and eco-friendly transportation. The government offers subsidies for electric bicycles and has implemented infrastructure to support their use, such as bike lanes and charging stations. Additionally, the Swedish culture values physical activity and outdoor recreation, making electric bicycles a popular choice for commuting and leisure. These unique factors contribute to the growth and adoption of electric bicycles in the Swedish market.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Sweden is heavily influenced by macroeconomic factors such as consumer spending power, government policies promoting sustainable transportation, and technological advancements in the electric vehicle industry. Sweden's strong economy and high disposable income levels make it a favorable market for electric bicycles, while government initiatives promoting environmentally-friendly modes of transportation further drive market growth. Additionally, Sweden's focus on renewable energy and sustainable development aligns with the growing demand for electric bicycles, creating a conducive market environment for manufacturers and suppliers.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of electric bicycles and the respective average prices for bicycles.

Modeling approach:

Market sizes are determined through a Bottom-Up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use publications of industry associations, expert blogs, and data provided by governments and scientific institutions. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, and consumer spending per capita (based on current prices). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the ARIMA time series forecast and forecasts based on previous growth rates are well suited for forecasting the future demand for bicycles due to the brick and mortar nature of this market. The main drivers are GDP, consumer spending per capita, and population.

Additional notes:

The data is modeled using current exchange rates. The market is updated once a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

The bicycle market in Germany has been enjoying dynamic development for a very long time. Bicycles are a popular way to get around in both urban and rural areas, with young children learning to ride firmly entrenched in the national culture. Germany has a variety of scenic bike routes, but looking out for bike lanes in a city is a daily part of life both for cyclists and pedestrians. Many cyclists value the multiple advantages cycling brings – physical activity, saving money by foregoing commuting with public transport or driving, and the eco-friendly aspect. A German city, Munster, even made it on the list of the eight most bike-friendly cities in the world in 2022.