Motorcycles - Sweden

Sweden

Highlights

In 2024, it is projected that the revenue in the Motorcycles market in Sweden will reach US$104.40m.
This market is expected to show an annual growth rate (CAGR 2024-2029) of -0.21%, leading to a projected market volume of US$103.30m by 2029.
Among the market segments, the largest one is On-road Motorcycles, with a projected market volume of US$80.84m in 2024.
Looking specifically at unit sales, it is expected that there will be 8.61k motorcyles Motorcycles market sold in 2029.
The volume weighted average price of Motorcycles market in the Swedish market in 2024 is expected to be US$11.88k.
In terms of market share, Honda Motorcycles is projected to have the highest share in the selected region, accounting for 18.5% of motorcycle unit sales in 2024.
Additionally, the value market share of Honda Motorcycles in the selected region is expected to be 17.2% in 2024.
From an international perspective, it is worth noting that India is forecasted to generate the highest revenue in the Motorcycles market, amounting to US$32.11bn in 2024.
Sweden's motorcycle market is experiencing a surge in demand for electric motorcycles as the country continues its commitment to sustainability and reducing carbon emissions.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Sweden has been experiencing steady growth in recent years, driven by changing customer preferences, evolving market trends, and local special circumstances. Customer preferences in the Motorcycles market in Sweden have been shifting towards more environmentally friendly and fuel-efficient options. With a growing concern for the environment and a desire to reduce carbon emissions, Swedish consumers are increasingly opting for electric motorcycles and scooters. These vehicles offer lower emissions and are seen as a more sustainable alternative to traditional gasoline-powered motorcycles. Additionally, there is also a growing demand for motorcycles with advanced safety features and technology, such as anti-lock braking systems and traction control. Trends in the market indicate a rise in the popularity of electric motorcycles and scooters in Sweden. The government's efforts to promote sustainable transportation and reduce greenhouse gas emissions have played a significant role in driving this trend. Incentives such as tax breaks and subsidies for electric vehicles have made them more affordable and attractive to consumers. Furthermore, the increasing availability of charging infrastructure across the country has made electric motorcycles a more viable option for daily commuting. As a result, sales of electric motorcycles and scooters have been steadily increasing in Sweden. Local special circumstances also contribute to the development of the Motorcycles market in Sweden. The country's well-developed infrastructure, including a comprehensive road network and efficient public transportation system, makes motorcycles a convenient mode of transportation for many Swedes. Motorcycles offer flexibility and maneuverability, particularly in urban areas with heavy traffic. Additionally, Sweden's long summer days and beautiful landscapes make motorcycles an appealing choice for recreational purposes, such as touring and exploring the countryside. Underlying macroeconomic factors also play a role in the growth of the Motorcycles market in Sweden. The country's strong economy and high disposable income levels enable consumers to afford motorcycles as a means of transportation or as a recreational vehicle. Furthermore, favorable financing options and low interest rates make purchasing motorcycles more accessible to a wider range of consumers. Additionally, Sweden's stable political environment and commitment to sustainable development create a favorable business environment for motorcycle manufacturers and retailers. In conclusion, the Motorcycles market in Sweden is developing in response to changing customer preferences, evolving market trends, local special circumstances, and underlying macroeconomic factors. The shift towards more environmentally friendly options, such as electric motorcycles, is driven by a growing concern for the environment and government incentives. The country's well-developed infrastructure and high disposable income levels also contribute to the growth of the market. Overall, the Motorcycles market in Sweden is expected to continue its upward trajectory in the coming years.

Data coverage:

Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to 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 particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.

Additional Notes:

The market is updated once a year.