Sports Cars - Sweden

Sweden

Highlights

Revenue in the Sports Cars market is projected to reach US$1bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.12%, resulting in a projected market volume of US$1bn by 2029.
Sports Cars market unit sales are expected to reach 14.5k vehicles in 2029.
The volume weighted average price of Sports Cars market in 2024 is expected to amount to US$80k.
From an international perspective it is shown that the most revenue will be generated United States (US$20bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sports Cars market in Sweden has been experiencing steady growth in recent years, driven by customer preferences for high-performance vehicles and the country's strong economy.

Customer preferences: Swedish consumers have a strong affinity for sports cars, valuing their sleek design, powerful engines, and superior performance. They are willing to pay a premium for these vehicles, as they are seen as a status symbol and a reflection of personal success. Additionally, the environmentally conscious nature of Swedish consumers has led to a growing demand for electric sports cars, which offer both performance and sustainability.

Trends in the market: One of the key trends in the Sports Cars market in Sweden is the increasing popularity of electric sports cars. This trend is driven by the country's commitment to reducing carbon emissions and promoting sustainable transportation. With advancements in battery technology and the availability of charging infrastructure, electric sports cars have become a viable option for Swedish consumers. Manufacturers have responded to this trend by introducing electric models with impressive performance capabilities, catering to the demand for both speed and sustainability. Another trend in the market is the rise of luxury sports cars. Swedish consumers have shown a preference for high-end brands that offer not only performance but also luxury features and cutting-edge technology. Luxury sports car manufacturers have capitalized on this demand by introducing models with advanced features such as adaptive cruise control, lane assist, and high-quality interior materials. These features, coupled with the exhilarating driving experience that sports cars provide, have made luxury sports cars a sought-after choice among Swedish consumers.

Local special circumstances: Sweden's unique geography and climate have influenced the Sports Cars market in the country. The country's long, winding roads and scenic landscapes make it an ideal setting for sports car enthusiasts to enjoy their vehicles. Additionally, Sweden's harsh winters have led to the development of sports cars with advanced all-wheel drive systems and winter performance packages, catering to the needs of Swedish consumers who want to drive their sports cars year-round.

Underlying macroeconomic factors: The strong economy in Sweden has played a significant role in the growth of the Sports Cars market. With high disposable incomes and low unemployment rates, Swedish consumers have the financial means to purchase sports cars. The stable economic conditions have also allowed for favorable financing options, making it easier for consumers to afford sports cars. In conclusion, the Sports Cars market in Sweden is experiencing growth due to customer preferences for high-performance vehicles, the increasing popularity of electric sports cars, and the country's strong economy. Luxury sports cars and electric models are particularly in demand, catering to the preferences of Swedish consumers who value both performance and sustainability. The unique geography and climate of Sweden, along with favorable macroeconomic factors, further contribute to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. 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, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

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. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).