Sweden: Motorcycle And Bicycle Market 2024

Motorcycle And Bicycle Market Size in Sweden

In 2021, the Swedish motorcycle and bicycle market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +5.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Motorcycle And Bicycle Production in Sweden

In value terms, motorcycle and bicycle production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild decline. The growth pace was the most rapid in 2016 with an increase of 38% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Motorcycle And Bicycle Exports

Exports from Sweden

In 2021, after three years of growth, there was significant decline in overseas shipments of motorcycles and bicycles, when their volume decreased by -16% to X units. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 42% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2020, and then dropped markedly in the following year.

In value terms, motorcycle and bicycle exports stood at $X in 2021. In general, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2020 when exports increased by 67%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Finland (X units) was the main destination for motorcycle and bicycle exports from Sweden, with a 64% share of total exports. Moreover, motorcycle and bicycle exports to Finland exceeded the volume sent to the second major destination, Denmark (X units), twofold. The third position in this ranking was taken by Norway (X units), with a 20% share.

From 2012 to 2021, the average annual growth rate of volume to Finland amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+0.6% per year) and Norway (+9.2% per year).

In value terms, Finland ($X) remains the key foreign market for motorcycles and bicycles exports from Sweden, comprising 51% of total exports. The second position in the ranking was taken by Denmark ($X), with a 22% share of total exports. It was followed by Norway, with a 17% share.

From 2012 to 2021, the average annual growth rate of value to Finland stood at +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+2.5% per year) and Norway (+14.7% per year).

Export Prices by Country

In 2021, the average motorcycle and bicycle export price amounted to $X per unit, rising by 22% against the previous year. Overall, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, motorcycle and bicycle export price increased by +131.3% against 2015 indices. The growth pace was the most rapid in 2016 when the average export price increased by 38%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per unit), while the average price for exports to Gambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+24.7%), while the prices for the other major destinations experienced more modest paces of growth.

Motorcycle And Bicycle Imports

Imports into Sweden

In 2021, imports of motorcycles and bicycles into Sweden rose slightly to X units, surging by 4.2% against 2020. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 16%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, motorcycle and bicycle imports surged to $X in 2021. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.9% 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 +98.3% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest motorcycle and bicycle supplier to Sweden, accounting for a 42% share of total imports. Moreover, motorcycle and bicycle imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+14.0% per year) and Taiwan (Chinese) (-7.8% per year).

In value terms, China ($X), Germany ($X) and the Netherlands ($X) were the largest motorcycle and bicycle suppliers to Sweden, with a combined 45% share of total imports. Belgium, Taiwan (Chinese), Italy, Denmark, Poland, Indonesia, the Philippines, Cambodia, Bangladesh and India lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, the Philippines, with a CAGR of +89.6%, saw the highest rates of growth with regard to 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

The average motorcycle and bicycle import price stood at $X per unit in 2021, growing by 22% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, motorcycle and bicycle import price increased by +28.0% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 30%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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