E-Bike Sales Skyrocket in Nordic Countries
STOCKHOLM, Sweden – The hot and rain-free super summer of 2018 made e-bike sales in Sweden, Denmark and Finland to skyrocket. The markets for electric bicycles in the three Nordic countries are growing to maturity, while in Sweden sales are showing such growth that the country now ranks among the largest e-bike markets of Europe.
Next to the weather, the popularity of electric bicycles in Sweden got an extra boost by the government which is offering a subsidy on the purchase of an e-bike.The granted subsidy amounts to 25 percent of the purchase price (with a maximum of up to € 1,000) per e-bike for all citizens. The government has allocated about SEK one billion (€ 97m) for pushing e-bike sales and in particular e-bike use to new highs. The government’s incentive for buying and using e-bikes in order to bring down car traffic, is running between 2018 and 2020, meaning that more good is to come for electric bike sales in Sweden.
The subsidy on purchasing new e-bikes resulted in a total sale of103,000 units in the September 2017 to August 2018 period in Sweden. This stands for a 53% growth on the same period one year earlier. The total sales number of over 100,000 units results in the fact that electric bikes now hold a market share of 19 percent. This is volume-wise; money-wise e-bikes take up a much bigger role in the Swedish market. That’s because an e-bike in Sweden retails for an average price of € 1,650. With that it means that the total retail value of the e-bike market in Sweden stands at between 180 and 200 million euro currently.
Denmark: e-bikes turning into significant market force
Also in Denmarke-bikes are growing into a significant market force. That’s evidenced by a quadrupled import in the past five years and a marketshare that is nearing ten percent. This is what the 2017 numbers indicate with unfortunately the latest on 2018 still missing. However, also in Denmark the warmest summer in history that ‘baked’ the biggest part of Europe with multiple heatwaves accelerated (electric) bike sales.
E-bike market availability
In 2017 the import into Denmark of e-bikes grew with over 10 percent to 40,568 units. When taking into account the production of electric bicycles in Denmark which stood at some 2,500 units in 2017 and adding the import and extracting the e-bike export, it shows that last year the total market availability for this category was up with some 17 percent compared to the 2016 total. Sales wise the e-bike market accelerated with a 13.1 percent increase to 38,500 units building on the 9% growth in volume in 2016. This is according to the figures released by the Danish bicycle dealers and industry organization Danske Cykelhandlere.
Finland: e-MTBs improved e-bike image
In Finland e-bike sales is doubling again this year, as in 2017. However, the factual numbers are still low. The Finnish government had a plan to subsidize e-bike purchases. It was dropped after it met with resistance. The coming of e-MTBs has improved the e-bike image. Nowadays there are specialized e-bike dealers in Finland while the bigger brands are offering dealer trainings. Also test days targeting consumers are organized as well as other marketing activities to profile electric bicycles. With that the market is being prepped. Now it’s only the question when Finnish consumers start to buy e-bikes on a bigger scale.