Sweden electric car market is projected to grow at a CAGR of more than 20% during the forecast period, 2019-2025. In 2019, a growth of 40% YoY in electric car sales has been registered in the country. More than 40,400 electric cars were sold in the country in 2019 as compared to 29,000 in 2018. Government support is one of the major factors for the growth of the market in the country. The government of the country aims to reduce carbon emission from transportation by 70% in 2030 and aims to reach zero greenhouse gas emissions by 2045. To reach these targets, the country needs to reach its electric vehicle fleet to around 2.5 million by 2030. Due to this, a significant push to the electric car will be witnessed in the near future in the country. Significant incentives are also offered by the government on electric cars. An individual or a business is eligible for a subsidy of $6,500 on the purchase of battery-electric cars and plug-in electric vehicles. Moreover, multiple tax benefits and local incentives are also offered to promote electric cars in Sweden.
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Some of the major companies contributing to the market include AB Volvo, BMW AG, Daimler AG, Hyundai Motor Co., Jaguar Land Rover Ltd., Kia Motors Corp., Mitsubishi Motors Corp., Nissan Motor Co., Renault Group, Tesla, Inc., Volkswagen AG and so on. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Sweden Electric Car Market Report Segment
By Vehicle Type
- Sedan
- Hatchback
- SUV
By Propulsion Technology
- Battery Electric Car
- Plug-in-Hybrid Electric Car
By Battery Type
- NiMH
- Li-ion
- Others
The Report Covers
- Comprehensive research methodology of Sweden Electric Car Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting Sweden Electric Car Market.
- Insights about market determinants that are stimulating Sweden Electric Car Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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