There are a number of sectors that could potentially offer some opportunities to Northern Ireland companies.
Infrastructure and construction
Sweden’s transport plan for 2018 to 2029 is worth around £60 billion. It features new rail and road projects, upgrades to existing infrastructure, and an increased allocation for maintenance. Sweden also needs to build thousands of energy-efficient homes with a low carbon footprint to meet current needs and contribute to a ‘greener’ future.
Railway
Sweden aims to further modernise its railway network and increase capacity by building new passenger lines between its biggest cities. It will also digitalise the network to make operations and maintenance more efficient. There are opportunities in many areas of the rail supply chain.
Housing and construction
Sweden’s cities are expanding and so is the need for new housing. The Stockholm region alone has planned housing investment worth EUR 61 billion until 2040 (source Invest Stockholm). Swedish construction companies cannot satisfy the demand, which offers great long-term opportunities for companies looking to enter the market.
Smart cities, green construction and mobility
Like many places, Sweden is seeking to de-carbonise construction and its transportation systems, shifting from fossil fuel-powered vehicles to suitable alternatives. Ownership of electric vehicles is growing. Use of micro-mobility is widespread, such as e-scooters. Non-battery electric options are being researched and trialled, such as electric roads.
Food and drink
The demand for international food and drink in Sweden has grown, reflected in the ranges now available in supermarkets. The sector is dominated by 4 main retail groups and the government-owned alcohol monopoly. The route to market is normally through a distributor.
Demand for new food and drink categories
There are opportunities for UK producers of health, organic, vegetarian and plant-based food as well as craft alcoholic drinks. There is also demand for innovative and niche products with strong branding, and private label products.
Mature market
If you have a product with a strong, unique selling point, sophisticated packaging and a clear marketing strategy, there is a good chance you will find a receptive consumer market in Sweden.
Energy
Sweden’s target is for 100% fossil free electricity generation by 2040 and to reach net zero by 2045. The Swedish government announced ambitions to build at least 2.5 GW of new nuclear generation by 2035 and 10 GW by 2045
New nuclear
Sweden recognises the UK’s experience and expertise in developing Hinkley Point C, developments in small modular reactors, and UK businesses are ideally placed to support Sweden’s future new build programme.
Bio-CCS
The Swedish Energy Agency announced 20 billion Swedish Krona (SEK) support packages to create market conditions for the deployment of Bio-CCS. There are opportunities for UK companies with expertise in this field or manufacturing products to export.
Renewable energy
Sweden is switching to carbon neutral energy sources. Energy storage and grid solutions are needed as a part of this switch to renewable energy sources. There are opportunities for UK companies with expertise in renewable energy or manufacturing products to export.
Life Sciences
The ties between Sweden and the UK have been strong through political engagements, such as the bilateral memorandum of understanding signed in 2022 and the UK’s industrial strategy, where life sciences is a key area. Additionally, commercial ties have been reinforced by companies like AstraZeneca and Glaxo Smith Kline. There are opportunities in biopharma, medtech, clinical trials, healthy ageing and more.
Biopharma
The Swedish biopharma sector is thriving, with numerous companies specialising in areas such as genomics, drug development and therapies. Partnerships or investment opportunities can be explored in these cutting-edge fields.
Medtech
Partnering with Swedish businesses on advanced medical devices including diagnostic tools, imaging equipment, and surgical instruments provides an option to enter the market. With the Swedish healthcare system embracing digital health solutions, there are opportunities within telemedicine, electronic health records, and mobile health applications.
R&D collaboration with academia and networks
Sweden is home to world-class research institutions, universities, science parks and networks that collaborate closely with industry. There are opportunities to partner with these institutions to advance R&D efforts, particularly in areas such as biotechnology, pharmaceuticals, and medical technology. There are over 3,000 companies involved in life science activities in Sweden to team up with.
