In 2023, employment in Sweden's motor vehicle manufacturing sector stood at 60.4 thousand full-time equivalents, showing a steady upward trend. Between 2013 and 2023, the employment grew significantly, albeit with some fluctuations such as the dip in 2020.
Year-on-year variations indicate:
- Small increases between 2013 and 2015
- Substantial growth from 2016 to 2019
- A slight decline in 2020 and moderate growth through to 2023
The compound annual growth rate (CAGR) for the past five years (2018-2023) was approximately 1.55%. Forecasts suggest continued growth from 2024 through 2028, with an average annual growth rate of 1.86% and an overall increase of 9.66% over this period.
Future trends to watch include advancements in electric vehicles, automation, and changes in global trade policies, which could substantially impact employment dynamics in this sector.
