Sweden Power Market Outlook to 2035 – Market Trends, Regulations and Competitive Landscape

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Sweden Power Market Report Overview

The annual power consumption in Sweden was 124.2 Terawatt hours (TWh) in 2022. The demand is expected to increase marginally at a CAGR of more than 1% during 2022-2035 primarily driven by the industrial and residential sectors. Majority of Sweden’s annual power generation comes from clean energy. This enables Sweden to export surplus electricity making it a net exporter of electricity. Finland and Lithuania are the major countries to which Sweden exports electricity, while it imports electricity majorly from Norway and Denmark.

Sweden Power Market Outlook (2022-2035)

Sweden Power Market Outlook (2022-2035)
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The Sweden power market research report discusses the power market in the country in-depth and predicts future outcomes until 2035.  Detailed coverage of the regulations and policies governing the market is also provided in the report.  The Sweden power market report highlights the cumulative installed capacity and power generation trends by individual generation source from 2010 to 2035 in the country’s power market. Furthermore, the report also provides company snapshots of a few of the major market participants.

Total Power Consumption (2022) 124.2TWh
CAGR (2022-2035) >1%
Historical Period 2010-2022
Forecast Period 2023-2035
Key Sector ·        Industrial Sector

·        Residential Sector

·        Commercial Sector

·        Transport Sector

Key Deal Types ·        Asset Transactions

·        Partnerships

·        Debt Offerings

·        Acquisition

·        Venture Financing

·        Equity Offerings

·        Private Equity

Key Companies ·        Vattenfall AB

·        Uniper SE

·        Fortum Corp

·        Statkraft SF

·        Skelleftea Kraft AB

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Sweden Power Market by Sectors

The industrial sector had the dominant share in power consumption in 2022

The key sectors in the Sweden power market are the residential sector, industrial sector, transport sector, commercial sector, and other sectors. In 2022, the industrial sector had the dominant share in power consumption, followed by the residential sector and the commercial sector.

Sweden Power Consumption Market Analysis by Sectors, 2022 (%)

Sweden Power Consumption Market Analysis by Sectors, 2022 (%)
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Sweden Power Market Segmentation by Deal Types

Most of the deals in the Sweden power market were asset transactions in 2022

The key deal types recorded in the Sweden power market in 2022 were partnerships, debt offerings, acquisitions, asset transactions, and others. Based on deal type, Sweden’s power market was dominated by asset transactions in 2022, followed by partnerships and debt offerings.

Sweden Power Market Analysis by Deal Types, 2022 (%)

Sweden Power Market Analysis by Deal Types, 2022 (%)
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Sweden Power Market – Competitive Landscape

In 2022, Sweden’s power generation market was dominated by Vattenfall AB

The key companies in the Sweden power market include:

  • Vattenfall AB
  • Uniper SE
  • Fortum Corp
  • Statkraft SF
  • Skelleftea Kraft AB

 Vattenfall AB: Vattenfall AB (Vattenfall) is a state-owned energy company that generates, distributes, and sells electricity and heat. The company also conducts gas and energy trading sales. Vattenfall generates power through various sources of energy including wind, nuclear, hydro, natural gas, solar, coal, biomass and waste and produces and distributes district heating and supplies to households and industries in metropolitan areas. In addition, the company provides energy services such as battery storage, network services, charging solutions for electric vehicles, heat pumps, solar panels, and smart meters. It serves households, businesses, electricity, and gas customers. The company has its presence in Denmark, Finland, Germany, the Netherlands, and the UK among others. Vattenfall is headquartered in Solna, Stockholm, Sweden.

Sweden Power Generation Market Analysis by Companies, 2022 (%)

Sweden Power Generation Market Analysis by Companies, 2022 (%)
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Latest Developments

  • In February 2023, Vattenfall AB along with its partners launched a new EMRED JIP for assessing greenhouse gas emissions in the offshore wind installation sector. The project will focus on the foundation of installation vessels, wind turbine installation vessels and cable laying vessels. This will result in creating the benchmark standards for the operations in the industry.
  • In March 2023, Uniper SE partnered with Plug Power Inc. to design the electrolyzer technology for its Maasvlakte site at the Port of Rotterdam. Uniper plans to commission Plug electrolysis capacity of 100 MW by 2026, expanding to 500 MW by 2030 at the latest.

Segments Covered in the Report

Sweden Power Type Industry Outlook (Value, 2010-2035)

  • Residential Sector
  • Industrial Sector
  • Transport Sector
  • Other Sector
  • Commercial Sector

Sweden Power Market Deal Type Outlook (Value, 2010-2035)

  • Asset Transactions
  • Partnerships
  • Debt Offerings
  • Acquisition
  • Venture Financing
  • Equity Offerings
  • Private Equity

Scope

  • Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity imports and exports scenario, degree of competition, regulatory scenario, and future potential of the power sector.
  • Statistics for installed capacity, generation, and consumption from 2010 to 2022, and forecast for the next 13 years to 2035.
  • Capacity, generation, and major power plants by technology.
  • Data on leading active and upcoming power plants.
  • Information on transmission and distribution infrastructure, electricity imports and exports,
  • Policy and regulatory framework governing the market.
  • Detailed analysis of top market participants, including market share analysis and SWOT analysis.

Reasons to Buy

  • Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector.
  • Identify key factors driving investment opportunities in the country’s power sector.
  • Facilitate decision-making based on strong historical and forecast data.
  • Develop strategies based on the latest regulatory events.
  • Position yourself to gain the maximum advantage of the industry’s growth potential.
  • Identify key partners and business development avenues.
  • Identify key strengths and weaknesses of important market participants.
  • Respond to your competitors’ business structure, strategy, and prospects.

Vattenfall AB
Uniper SE
Fortum Corp
Statkraft SF
Skelleftea Kraft AB

Table of Contents

Table of Contents

1 Executive Summary

1.1 Offshore wind key for renewable power development in Sweden

1.2 Sweden continues to be a net exporter of electricity.

2 Introduction

2.1 Sweden Power Market

2.2 GlobalData Report Guidance

3 Sweden Power Market, Snapshot

3.1 Country Summary

3.2 Macroeconomic Factors

3.3 Supply Security

3.4 Opportunities

3.5 Challenges

4 Sweden Power Market, Market Analysis

4.1 Market Structure

4.2 Key Market Players

4.3 Financial Deals

Deal Value and Volume, 2010–2022

Deals by Type, 2022

4.4 Sweden Power Market, Demand Structure

Power Consumption by Sector, 2022

5 Sweden Power Market, Regulatory Scenario

5.1 Thermal Power Policy

5.2 Nuclear Power Policy

5.3 Renewable Energy Market, Overview

5.4 Policy Snapshot

5.5 Renewable Energy Targets

5.6 Climate Act and Climate Policy Framework

5.7 National Energy and Climate Plan (NECP)

5.8 National Recovery and Resilience Plan

5.9 Hydrogen Energy

5.10 Green Certificate Scheme

Quota Obligation

5.11 Solar Rebate Scheme

5.12 Cancellation of Solar Tax for Commercial PV

5.13 Energy Tax relief

5.14 Removal of the Building Permit for Solar Systems

5.15 Reduction in Connections Costs for Offshore Wind Power

5.16 Carbon Tax

5.17 Coal Phase Out

5.18 The Swedish Energy Research and Innovation Program

5.19 Sweden’s Budget

6 Sweden Power Market, Capacity and Generation

6.1 Cumulative Capacity Share by Technology, 2022

6.2 Total Power Capacity and Generation, 2010–2035

6.3 Thermal Capacity and Generation, 2010–2035

6.4 Hydropower Power Capacity and Generation, 2010–2035

6.5 Nuclear Power Capacity and Generation, 2010–2035

6.6 Renewable Power Capacity and Generation, 2010–2035

7 Sweden Power Market, Transmission and Distribution Overview

7.1 Transmission Network

7.2 Distribution Network

7.3 Grid Interconnection

7.4 Electricity Import and Export

7.5 Electricity Trading

8 Sweden Power Market, Major Generating Companies

8.1 Vattenfall AB

Company Overview

Business Description

SWOT Overview

8.2 Uniper SE

Company Overview

Business Description

SWOT Overview

8.3 Fortum Corp

Company Overview

Business Description

SWOT Overview

9 Appendix

9.1 Abbreviations

9.2 Market Definitions

Power

Renewable Power

Installed Capacity

Electricity Generation

Electricity Consumption

9.3 Methodology

Coverage

Secondary Research

Primary Research

Modelling and Forecasting

About GlobalData

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Table

List of Tables

Table 1: Power Market, Sweden, Macroeconomic Factors, 2010–2030

Table 2: Policy Snapshot, Sweden, 2022

Table 3: Energy and Emission Targets, NECP, Sweden

Table 4: Renewable Energy Quota Obligation (MWh), Sweden, 2019–2035

Table 5: Power Market, Sweden, Cumulative Capacity and Annual Generation, 2010–2035

Table 6: Power Market, Sweden, Cumulative Capacity and Annual Generation Share by Technology, 2010–2035

Table 7: Thermal Power Market, Sweden, Cumulative Capacity and Annual Generation, 2010–2035

Table 8: Thermal Power Market, Sweden, Major Plants, 2022

Table 9: Hydropower Market, Sweden, Cumulative Capacity and Annual Generation, 2010–2035

Table 10: Hydropower Market, Sweden, Major Plants, 2022

Table 11: Nuclear Power Market, Sweden, Cumulative Capacity and Annual Generation, 2010–2035

Table 12: Nuclear Power Market, Sweden, Major Plants, 2022

Table 13: Renewable Power Market, Sweden, Cumulative Capacity (GW), 2010–2035

Table 14: Renewable Power Market, Sweden, Annual Generation (TWh), 2010–2035

Table 15: Renewable Power Market, Sweden, Major Plants, 2022

Table 16: Power Market, Sweden, Transmission Line Length (Ckm) by Voltage Level, 2010–2027

Table 17: Power Market, Sweden, Distribution Line Length (Ckm) by Voltage Level, 2010–2025

Table 18: Power Market, Sweden, Upcoming Interconnection Projects

Table 19: Power Market, Sweden, Annual Electricity Import and Export (TWh), 2000–2022

Table 20: Abbreviations

Figures

List of Figures

Figure 1: Renewable Power Market, Sweden, Cumulative Capacity, 2010–2035

Figure 2: Power Market, Sweden, Annual Electricity Import and Export, 2000–2022

Figure 3: Power Market, Sweden, Country Summary

Figure 4: Power Market, Sweden, Macroeconomic Factors, 2010–2030

Figure 5: Power Market, Sweden, Market Structure

Figure 6: Power Market, Sweden, Market Share of Generation Companies (%), 2022

Figure 7: Power Market, Sweden, Deal Value and Number of Deals, 2010–2022

Figure 8: Power Market, Sweden, Deals by Type (%), 2022

Figure 9: Power Market, Sweden, Annual Power Consumption, 2010–2035

Figure 10: Power Market, Sweden, Power Consumption by Sector (%), 2022

Figure 11: Power Market, Sweden, Cumulative Capacity Share by Technology (%), 2022

Figure 12: Power Market, Sweden, Cumulative Capacity and Annual Generation, 2010–2035

Figure 13: Power Market, Sweden, Capacity Share by Technology, 2010–2035

Figure 14: Power Market, Sweden, Annual Generation Share by Technology, 2010–2035

Figure 15: Thermal Market, Sweden, Cumulative Capacity and Annual Generation, 2010–2035

Figure 16: Hydropower Power Market, Sweden, Cumulative Capacity and Annual Generation, 2010–2035

Figure 17: Nuclear Power Market, Sweden, Cumulative Capacity and Annual Generation, 2010–2035

Figure 18: Renewable Power Market, Sweden, Cumulative Capacity, 2010–2035

Figure 19: Renewable Power Market, Sweden, Annual Generation, 2010–2035

Figure 20: Power Market, Sweden, Annual Electricity Import and Export, 2000–2022

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