Market Size of sweden e-bike Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 382.13 Million |
|
|
Market Size (2029) | USD 535.07 Million |
|
Largest Share by Propulsion Type | Speed Pedelec |
|
|
CAGR (2024 - 2029) | 6.96 % |
|
|
Fastest Growing by Propulsion Type | Speed Pedelec |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Sweden Electric Bike Market Analysis
The Sweden E-bike Market size is estimated at 382.13 million USD in 2024, and is expected to reach 535.07 million USD by 2029, growing at a CAGR of 6.96% during the forecast period (2024-2029).
382.13 Million
Market Size in 2024 (USD)
535.07 Million
Market Size in 2029 (USD)
9.49 %
CAGR (2017-2023)
6.96 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
49.22 %
value share, Speed Pedelec, 2023
Affordability, suitability for recreational activities, health advantages, and high load capacity are the factors that anticipate the growth of the pedal-assisted e-bike segment.
Largest Segment by Application Type
72.74 %
value share, City/Urban, 2023
Awareness about the benefits of bicycles, like faster commuting in traffic, easier parking, and fuel saving, has made the city/urban bikes the largest application segment.
Largest Segment by Battery Type
99.59 %
value share, Lithium-ion Battery, 2023
The lithium-ion battery segment is the largest segment by battery type. The adoption of Li-ion batteries can reduce the size and weight of the battery pack and extend the vehicle’s range.
Fastest-growing Segment by Propulsion Type
8.39 %
Projected CAGR, Speed Pedelec, 2024-2029
People prefer speed pedelecs over other bikes because they can avoid traffic and save fuel costs, which led to the segment's quick growth.
Leading Market Player
21.75 %
market share, Royal Dutch Gazelle, 2022
Gazelle is a market leader in the Sweden e-bike market. The company has over 100 year of experience in bicycle industry and has been producing quality bikes for over 125 years.
PROPULSION SEGMENT MARKET OVERVIEW
- The e-bike market in Sweden experienced a surge in demand following the COVID-19 pandemic. The pandemic led to increased interest in outdoor activities, including cycling, and e-bikes, in particular, emerged as a popular choice for commuting, running errands, and leisurely rides. The Swedish government has also introduced several initiatives to promote the use of e-bikes, such as providing financial incentives for purchasing e-bikes and investing in the development of cycling infrastructure. In addition, several cities in Sweden, such as Stockholm and Gothenburg, have implemented bike-sharing schemes that include e-bikes as part of their fleets.
- According to a report by the Swedish Energy Agency, the e-bike market in Sweden was growing steadily, with sales increasing by 50% between 2017 and 2020. The report also noted that the e-bike market was expected to continue its growth trajectory in the coming years, driven by factors such as increasing environmental awareness, government initiatives to promote cycling, and technological advancements in e-bike design.
- In Sweden, around 80% of all urban car trips are less than 4km, suggesting that biking or walking could replace driving. By 2025, 25% of travel distances are expected to be covered by bicycle, foot, or public transportation, according to the Swedish government. By 2025, Gothenburg plans for 12% of all the trips taken in the city to be by bike. The European Commission has separately targeted the promotion of electromobility and cycling as clean and effective transportation options for sustainable urban mobility. Sweden's cycling numbers are expected to rise in the coming years as a result of citywide, national, and continental goals, thus increasing e-bike sales.
Understand The Key Trends Shaping This Market
