Employment in the motor vehicles sector in Sweden, measured in million hours, has demonstrated an overall upward trend over the past decade. As of 2023, the sector stood at 120.86 million hours. From 2022 to 2023, employment saw a modest increase of 1.19%. The period from 2018 to 2023 experienced a compound annual growth rate (CAGR) of 0.017%, indicating relatively subdued growth.
Despite the pandemic-induced dip in 2020, which saw a year-on-year reduction of 8.69%, the sector rebounded strongly with a 7.62% increase in 2021. Moving towards 2028, projections suggest a forecasted 5-year CAGR of 0.9%, anticipating steady growth.
Key trends to watch for in the motor vehicles sector include:
- Advancements in electric vehicle technology and related employment needs.
- Potential disruptions from global supply chain issues.
- Shifts in consumer preferences towards sustainable transportation solutions.
