Market Insights Mobility Commercial Vehicles

Trucks - Sweden

Sweden

In 2024, the Trucks market in Sweden is projected to reach a total of 6.26k vehicles unit sales.
This forecast indicates a positive outlook for the market.
Over the following four years (2024-2029), the annual growth rate, also known as the Compound Annual Growth Rate (CAGR), is expected to be -0.26%.
This growth rate suggests a steady expansion of the market, resulting in a projected volume of 6.18k vehicles units by 2029.
Furthermore, the production of Trucks market in Sweden is anticipated to reach 13.31k vehicles units by 2029.
This production figure demonstrates the potential growth and development of the Trucks market in the country.
From an international perspective, it is worth noting that the majority of sales in the Trucks market in 2024 are expected to be in China, with a projected sales volume of 1,722.00k vehicles units.
This data highlights the global significance of the Chinese market within the Trucks market industry.
Sweden's truck market is dominated by Scania and Volvo, with a strong focus on sustainable and electric vehicles.

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Analyst Opinion

The Trucks market in Sweden has been experiencing steady growth in recent years, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Trucks market in Sweden have been shifting towards more environmentally friendly and fuel-efficient vehicles.

This trend is driven by increasing awareness of the environmental impact of transportation and government regulations aimed at reducing emissions. Customers in Sweden are also placing greater importance on safety features, such as advanced driver assistance systems and collision avoidance technology. In terms of market trends, there has been a growing demand for electric and hybrid trucks in Sweden.

This trend is in line with the global shift towards cleaner and more sustainable transportation solutions. The Swedish government has been actively promoting the adoption of electric vehicles, including trucks, through incentives and subsidies. As a result, several truck manufacturers have introduced electric and hybrid models to cater to this growing demand.

Another trend in the Trucks market in Sweden is the increasing popularity of connected and autonomous trucks. These vehicles are equipped with advanced telematics systems that enable real-time monitoring and optimization of fleet operations. Connected trucks can provide valuable data on fuel consumption, maintenance needs, and driver behavior, allowing companies to improve efficiency and reduce costs.

Autonomous trucks, on the other hand, have the potential to revolutionize the transportation industry by eliminating the need for human drivers and increasing safety on the roads. Local special circumstances in Sweden, such as the country's harsh climate and extensive road network, also influence the development of the Trucks market. Swedish customers often prioritize trucks with robust construction and all-weather capabilities to ensure reliable performance in challenging conditions.

Additionally, the country's vast forests and mining industry require specialized trucks for transporting heavy loads over rough terrain. Underlying macroeconomic factors, such as economic growth and infrastructure development, play a significant role in shaping the Trucks market in Sweden. The country's strong economy and investment in infrastructure projects have increased the demand for trucks for construction and transportation purposes.

Moreover, Sweden's position as a major exporter of goods and its reliance on efficient logistics networks further drive the need for trucks in the country. In conclusion, the Trucks market in Sweden is experiencing growth due to customer preferences for environmentally friendly and safe vehicles, market trends towards electric and connected trucks, local special circumstances, and underlying macroeconomic factors. As the demand for sustainable and efficient transportation solutions continues to rise, the Trucks market in Sweden is expected to further evolve and expand in the coming years.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of trucks.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.