In 2023, new registrations of hybrid electric-petrol passenger cars in Sweden stood at 26.33 thousand. From 2013 to 2023, the market experienced significant growth, with an average compound annual growth rate (CAGR) of 19.91%. However, growth has been moderating over time, with a CAGR of 4.62% over the last five years. Year-on-year variation in the last two years has also shown moderation, with a 10.69% increase in 2022 and a 4.81% increase in 2023. By 2028, the forecast indicates an estimated CAGR of 3.39%, with an anticipated growth rate of 18.12% over the next five years.

Future trends to watch for:

Increasing consumer interest in electric vehicles, potentially limiting the growth of hybrid models.
Government policies and incentives supporting the transition to cleaner energy vehicles.
Technological advancements in battery technology that could affect buyer preferences.
Fluctuations in fuel prices and their impact on hybrid versus electric vehicle demand.
Environmental regulations and their role in shaping the automotive market in Sweden.