Forecast: Special Purpose Motor Vehicles Market Size Value in Sweden

The special purpose motor vehicles market in Sweden has seen significant growth from 2013 to 2023, with the market size increasing from $278.16 million to $403.9 million USD. The market experienced initial declines from 2013 to 2015, with values falling each year. However, starting in 2016, a consistent upward trend was observed, with a steady year-on-year growth rate of around 4-8% annually. This culminated in a value of $403.9 million USD in 2023, reflecting a compound annual growth rate (CAGR) of 4.34% over the last five years.

Looking forward, the market is expected to continue its growth trajectory, albeit at a slower rate, with a forecasted CAGR of 2.65% from 2024 to 2028. This will cumulatively result in a 13.98% growth over the five-year period.

Future trends to watch for:

  • Technological advancements driving the demand for specialized vehicles.
  • Increased automation and electric vehicle adoption within the industry.
  • Environmental regulations pushing for more sustainable vehicle designs.
  • Economic factors influencing government and commercial investments in specialized motor vehicles.

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