Scandinavia: Motorcycle And Bicycle Market 2024

Motorcycle And Bicycle Market Size in Scandinavia

For the fourth year in a row, the Scandinavia motorcycle and bicycle market recorded growth in sales value, which increased by 25% to $X in 2021. Overall, consumption enjoyed moderate growth. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Motorcycle And Bicycle Production in Scandinavia

In value terms, motorcycle and bicycle production surged to $X in 2021 estimated in export price. The total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +84.2% against 2019 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Motorcycle And Bicycle Exports

Exports in Scandinavia

In 2021, shipments abroad of motorcycles and bicycles increased by 6.5% to X units, rising for the fifth consecutive year after two years of decline. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 51% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, motorcycle and bicycle exports skyrocketed to $X in 2021. Over the period under review, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 56% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Denmark was the key exporter of motorcycles and bicycles in Scandinavia, with the volume of exports finishing at X units, which was approx. 52% of total exports in 2021. It was distantly followed by Sweden (X units), Norway (X units) and Finland (X units), together constituting a 48% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Denmark (with a CAGR of +30.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest motorcycle and bicycle supplying countries in Scandinavia were Denmark ($X), Sweden ($X) and Norway ($X), with a combined 92% share of total exports.

Denmark, with a CAGR of +24.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, with an increase of 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2016 when the export price increased by 56% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Finland ($X per unit) and Sweden ($X per unit), while Denmark ($X per unit) and Norway ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+4.7%), while the other leaders experienced mixed trends in the export price figures.

Motorcycle And Bicycle Imports

Imports in Scandinavia

For the fourth year in a row, Scandinavia recorded growth in supplies from abroad of motorcycles and bicycles, which increased by 12% to X units in 2021. Over the period under review, imports posted measured growth. The growth pace was the most rapid in 2015 when imports increased by 93%. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, motorcycle and bicycle imports soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +97.0% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Denmark (X units), Sweden (X units), Norway (X units) and Finland (X units) represented the major importer of motorcycles and bicycles in Scandinavia, making up 99% of total import.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +4.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest motorcycle and bicycle importing markets in Scandinavia were Sweden ($X), Norway ($X) and Denmark ($X), with a combined 81% share of total imports. Finland lagged somewhat behind, accounting for a further 17%.

In terms of the main importing countries, Finland, with a CAGR of +8.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, surging by 14% against the previous year. Over the period under review, the import price continues to indicate resilient growth. The pace of growth was the most pronounced in 2017 when the import price increased by 135%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per unit), while Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform