Sweden electric car market is projected to grow at a significant CAGR of more than 20% during the forecast period (2019-2025). The key factors propelling the growth of the market include government support in the country. According to BIL Sweden, In March 2020, out of total new registrations, 32.2% share of the rechargeable passenger car was in Sweden. In the Sweden market, around 80% of the electric vehicle sales are plug-in Hybrids, and around 20% of the sale of the fully electric vehicles. The government of the country has set its target to reduce carbon emissions by 70% in 2030 and 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.
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Furthermore, for electric cars, the maximum subsidy amount of $1,210- 20% subsidy is available for the purchase of the EV bus for public transport, and around $7,263 subsidy is available for the individual or a business on the purchase of battery-electric cars and plug-in electric vehicles. Charging incentive is also available in Sweden for charging points amounting to $1,200 for individual and $1,800 for companies, municipalities, councils, and foundations. Besides, between 2012 and 2020, the charging units in Sweden have increased from 500 to 10,000. So, multiple tax benefits and incentives are also offered to promote the purchase of electric cars and to rise in charging stations in Sweden.
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Vehicle Type, By Propulsion Technology, By Battery Type
- Region Covered-Sweden
- Competitive Landscape- 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., and Volkswagen AG.
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
Company Profiles
- AB Volvo
- BMW AG
- Daimler AG
- Hyundai Motor Co.
- Jaguar Land Rover Ltd.
- Kia Motors Corp.
- Mitsubishi Motors Corp.
- Nissan Motor Co.
- Renault Group
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
