Regular Bicycles - Sweden | Statista Market Forecast

Revenue in the Regular Bicycles market in Sweden is forecasted to reach US$306.90m in 2024.
This is projected to exhibit an annual growth rate (CAGR 2024-2029) of 2.15%, leading to a market volume of US$341.20m by 2029.
Unit sales in the Regular Bicycles market are expected to hit 611.00k bicycles in 2029.
The volume weighted average price of Regular Bicycles market in Sweden in 2024 is anticipated to be US$547.50.
Looking at the global perspective, the United States is expected to generate the highest revenue in the Regular Bicycles market worldwide, reaching US$7bn in 2024.
In Sweden, the demand for Regular Bicycles is surging due to increased emphasis on sustainable transportation and outdoor activities.

Definition:

Regular 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 mere human strength without any 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 regular bicycles market covers all types of bicycles including road and racing bicycles, off-road bicycles, and special purpose bicycles. However, motorcycles, scooters, mopeds, secondhand bicycles, electric 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.

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

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

The Regular Bicycles Market in Sweden is facing minimal growth, influenced by factors such as limited consumer interest and the popularity of alternative transportation methods. Despite this, the market is still driven by the convenience of traditional bicycles and the growing health consciousness among consumers.

Customer preferences: The Regular Bicycles Market within the Bicycles Market in Sweden has seen a growing trend of sustainable and eco-friendly consumer preferences. This has led to an increase in demand for bicycles made from recycled materials and using renewable energy sources in their production. Additionally, there has been a rise in popularity for electric bicycles, as consumers look for more efficient and convenient ways to commute. This shift towards sustainable and innovative options reflects a cultural shift towards environmentally conscious living in Sweden.

Trends in the market: In Sweden, the Regular Bicycles Market within the Bicycles Market is seeing a surge in demand for electric bicycles, driven by the increasing focus on sustainability and eco-friendly transportation. This trend is expected to continue as the government promotes cycling infrastructure and offers subsidies for electric bikes. Additionally, there is a growing trend of rental and sharing services for regular bicycles, providing convenient and affordable options for commuters and tourists. These developments have significant implications for industry players, who must adapt to changing consumer preferences and invest in innovative technologies to remain competitive in the market.

Local special circumstances: In Sweden, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's strong cycling culture and commitment to sustainability. The government's initiatives promoting cycling as a mode of transportation have resulted in a high demand for regular bicycles. Additionally, Sweden's unique geography, with its abundance of bike paths and cycling-friendly infrastructure, further drives the popularity of regular bicycles in the market.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Sweden is influenced by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. With a strong economy and high disposable income, Sweden has a high demand for bicycles, especially for regular bicycles that are affordable and practical. Additionally, the government's focus on promoting sustainable transportation and reducing carbon emissions has created a favorable environment for the growth of the regular bicycles market. Moreover, the increasing popularity of cycling as a form of exercise and leisure activity among the health-conscious population has also contributed to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of regular 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.