Bicycles market in Sweden

Earlier Report Observations

The Swedish bicycle market entered the period with strong policy support. In 2018, the introduction of a state e-bike purchase subsidy covering 25% of the price up to 40 000 SEK spurred a surge in e-bicycle sales, while the launch of the employer-sponsored bicycle benefit program and the founding of Bikelease created a new corporate leasing channel. These measures specifically boosted demand for electric-assisted cycles. However, the total market volume in units gradually declined from 462 000 in 2018 to 403 000 in 2020. The COVID-19 pandemic in 2020 further increased interest in individual transportation modes like e-bikes for commuting.

Supply-side constraints became the dominant market force from 2021 onward. Pandemic-related disruptions in global supply chains for bicycles and components from Asia led to widespread product shortages and higher prices, constraining overall market availability. This pressure was evident in 2021 when the market volume fell to 367 000 units. A slight recovery to 374 000 units followed in 2022, though the industry continued to report low inventories and procurement difficulties, limiting growth.

The market experienced a sharp correction in 2023, with volume contracting to 211 000 units. This coincided with industry reports of a sales plateau for e-bicycles, signaling market saturation after a period of expansion, compounded by higher production costs due to the global energy crisis. In 2024, volume stabilized at 218 000 units. Regulatory changes played a key role: the tax authority's reinterpretation, ending the VAT exemption for benefit bicycles, increased costs for employers, while new national cycling infrastructure standards and regional marketing campaigns provided some offsetting support. The competitive landscape was also reshaped by the exit of major player Urban Arrow from the Swedish market.

Production bicycles in Sweden

In value, 2017-2020, K $ US

After two years of decline, bicycle production in Sweden has rebounded. In 2020, the output value reached 30 317 thousand US dollars, marking an 11.3% increase compared to 2019. Over the period from 2017 to 2020, production decreased by 33.4%, with a compound annual growth rate of -12.7%. The lowest value was recorded in 2019 at 27 235 thousand US dollars, while the largest decline occurred in 2018, with a drop of 30.4%.

Annual dynamics of production in Sweden in value, 2017-2020, K $ US

In kind, 2017-2020, K unit

Following two years of decline, Sweden's bicycle production has shown an upturn. In 2020, 63.3 thousand units were produced, representing a 10.2% increase from the previous year. Between 2017 and 2020, production fell by 37.7%, which translates to an annualized decline rate of 14.6%. The minimum production level was in 2019 at 57.5 thousand units, with the steepest drop recorded in 2018 at 32.8%.

Annual dynamics of production in Sweden in kind, 2017-2020, K unit

Exports bicycles from Sweden

Exports in kind, K unit

Sweden's bicycle exports have grown for the third consecutive year. In 2020, the country exported 129.5 thousand units, reflecting a sharp year-over-year increase of 36.0%. From 2017 to 2020, exports surged by 92.2%, equating to an annualized growth rate of 24.3%.

Annual dynamics of product's exports from Sweden in kind, 2017-2020, K unit

From 2017 to 2020, Finland, Denmark, and Norway consistently served as the primary destinations for Sweden's bicycle exports in volume terms. Finland accounted for 60.4% of exports, Denmark for 18.4%, and Norway for 7.8%, collectively representing 86.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Sweden in kind, 2017-2020

Exports in value, M $ US

Sweden's bicycle exports in value terms have risen for the third year in a row. In 2020, exports totaled 41.7 million US dollars, showing an abrupt year-over-year increase of 68.6%. Over the 2017-2020 period, export value grew by 172%, with a compound annual growth rate of 39.6%.

Annual dynamics of product's exports from Sweden in value, 2017-2020, M $ US

Between 2017 and 2020, Finland remained the dominant destination for Sweden's bicycle exports in value terms, holding a 76.5% share of total flows. The remaining exports were fragmented across other markets.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Sweden in value, 2017-2020

Imports bicycles to Sweden

Imports in kind, K unit

After two years of growth, Sweden's bicycle imports declined. In 2020, imports amounted to 469.3 thousand units, down by 4.1% compared to 2019. From 2017 to 2020, imports increased by 8.7%, with an annualized growth rate of 2.8%. The peak was in 2019 at 489.6 thousand units, while the largest increase occurred in 2018 at 8.8%.

Annual dynamics of product's imports to Sweden in kind, 2017-2020, K unit

From 2017 to 2020, Asia (not elsewhere specified), Cambodia, and the Netherlands were the main sources of bicycle imports to Sweden in volume terms. Asia accounted for 24.0% of imports, Cambodia for 17.8%, and the Netherlands for 9.8%, together making up 51.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Sweden in kind, 2017-2020

Imports in value, M $ US

Sweden's bicycle imports in value terms have declined for the second consecutive year. In 2020, import volume stood at 111.0 million US dollars, remaining broadly stable compared to the previous year. Over the 2017-2020 period, imports increased by 9%, with an annualized growth rate of 2.9%. The highest value was recorded in 2018 at 112.8 million US dollars, while the largest decline was in 2019 at 1.5%, and the largest increase occurred in 2018 at 10.8%.

Annual dynamics of product's imports to Sweden in value, 2017-2020, M $ US

Throughout 2017-2020, the Netherlands, Asia (not elsewhere specified), and Belgium formed the key group of partners for Sweden's bicycle imports in value terms. The Netherlands accounted for 22.9% of imports, Asia for 18.0%, and Belgium for 12.5%, jointly representing 53.4% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Sweden in value, 2017-2020