Sweden Power Market Outlook to 2030, Update 2017 - Market Trends, Regulations, and Competitive Landscape
Sweden has a mixed economic system. Private enterprises dominate the economy, and there is an extensive social welfare system in place. As with many developed economies, the services sector is the largest, accounting for an estimated 64.1% of Gross Domestic Product (GDP) in 2016. The industrial sector accounted for an estimated 34.2%, of which the engineering sector accounts for around 50%. Agriculture, which is completely mechanized and practiced commercially, accounted for 1.7% of the GDP (CIA, 2017). The economic base is characterized by an abundance of hydropower resources, timber, and iron ore.
Sweden’s power consumption trend ran almost parallel to its economic growth over the 2000-2016 period. This is due to the industrial sector’s contribution, which is one of the largest among the economic sectors. When the Gross Domestic Product (GDP) dipped by 5.2% in 2009, consumption also declined by 3.9%.
Between 2000 and 2016, annual power consumption declined at a negative Compound Annual Growth Rate (CAGR) of 0.3%, from 135.5 Terawatt hours (TWh), to 129 TWh. Conversely, annual power generation increased at a CAGR of 0.4%, from 141.8 TWh, to 151 TWh - owing to a steady increase in demand from the industrial, residential, and services sectors. Generation, on the other hand, was affected by drought, as Sweden generates much of its electricity from hydropower.
In 2016, hydropower was the single largest source of electricity, accounting for 38.9% of installed capacity. Nuclear power accounted for 21.9%, renewable capacity accounted for 28.8%, and thermal capacity accounted for the remaining 10.5%. The government is currently focusing on developing renewable energy plants, in order to reduce emissions. The share of thermal power in installed capacity is, therefore, expected to fall below 10% by 2020, and around 6% by 2030.
The report Sweden Power Market Outlook to 2030, Update 2017 - Market Trends, Regulations, and Competitive Landscape, elaborates Sweden's power market structure and provides historical and forecast numbers for generation, capacity and consumption up to 2030. Detailed analysis of the Sweden power market’s regulatory structure, import and export trends, competitive landscape, and power projects at various stages of the supply chain is provided.
In particular, this report provides the following analysis -
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