The electrical equipment manufacturing output in Sweden, expressed in Value, was at 71.1 Billion Swedish Kronas in 2023. Examining the year-on-year variations over the last two years, there was a 1.18% increase in 2022, followed by a 1.54% rise in 2023. Looking at the compound annual growth rate (CAGR) over the past five years leading to 2023, the industry experienced an average annual growth rate of approximately 0.68%.
Future trends to watch for:
- Sustainable and green technologies driving innovation in electrical equipment.
- Increased automation and digitalization in manufacturing processes.
- Potential impacts of geopolitical events on supply chains and raw materials.
- Growing demand for energy-efficient solutions and smart electrical systems.
- Adoption of Industry 4.0 practices.
