openPR Logo
Press release

Impact of COVID-19 on Sweden Economy Market Industry Size, Share, Trends and Forecast To 2025

05-26-2020 11:46 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Sweden is a developed export-oriented country aided by iron ore and energy sector. Metal processing and mineral extraction are considered as major components of the Sweden economy. There are nearly 15 active metal mines in the country, of which 6 mines produce iron ore and remaining 9 produce gold and base metals. In 2017, the production of industrial minerals, including quartz, limestone, and dolomite was continuing at 36 different sites. The Swedish mining and minerals sector is quite concentrated; however, it is also relatively diverse in terms of products, markets, and companies. The three Swedish companies that are global crucial suppliers of mining equipment include ABB, Epiroc AB, and Sandvik AB.

Get Free Sample Copy @ https://www.omrglobal.com/request-sample/impact-of-covid-19-on-sweden-economy

These companies have a successful history of partnership with Swedish mine operators. Swedish mining cluster includes metal processing industries and developers and manufacturers of mining machinery and equipment. From an EU-wide perspective, the Swedish mining sector is vital as 90% of EU iron ore mining takes place in the country. Therefore, metal and mining operations have resulted in the growth of the Swedish economy. However, the companies associated with these industries are facing concerns regarding its operations due to COVID-19 outbreak. For instance, on 28th March 2020, Boliden AB production shutdown production in Tara mine, Israel, in response to Israel government country-wide restrictions to limit the spread of coronavirus in the country.

A Full Report of Impact of COVID-19 on Sweden Economy is Available at: https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-sweden-economy

The package comprises a loan guarantee by the central government which will facilitate companies to access financing. This signifies that the central government will ensure 70% of new loans banks offer to companies that are facing financial complexity due to the COVID-19 outbreak. The government proposed offering support that intends to simplify and speed up the renegotiation of rents. Under the approach, the central government will encompass 50% of the rental reduction. This will support to decrease costs for companies facing significant difficulties amid COVID-19 virus across sectors including hotels, restaurants, durable consumer goods, and other activities. In addition, the sole proprietors affected by the crisis will receive tax cuts.

The study on the impact of COVID-19 om Sweden economy is classified based on industries, such as automobile, energy, oil and gas, healthcare, metal, and others. In the healthcare industry, the increasing production of ventilators has been witnessed in the country. For instance, on 17th March 2020, Getinge AB declared that it will temporarily accelerate its ventilators production capacity by 60% in 2020 over 2019. The company will produce ventilators at its manufacturing facility in Solna, Sweden.This aims to meet the global demand for ventilators due to COVID-19 crisis. On 16th March 2020, Getinge AB declared that it will deliver 500 ventilators to Italy coupled with the intensifying demand.

The operations of some crucial companies getting affected by COVID-19 outbreak include Sandvik AB, Lundin Energy AB, SSAB AB, Recipharm AB, Boliden AB, and AB Volvo. On 21st March 2020, AB Volvo declared temporarily suspension of production at its US and European plants to limit the impact of the COVID-19. On 16th March 2020, Lundin Energy AB halted construction operationsat its Zinc Expansion Project (ZEP) in Portugal.

Verticals Affected Most
Automobile
Energy
Machinery
Healthcare
Metal
Others (Retail and IT and Telecom)

Company Profiles
AB Volvo
ABB Ltd.
Boliden AB
Breas Medical AB
Getinge AB
Hennes & Mauritz AB
Lundin Energy AB
Recipharm AB
Sandvik AB
SSAB AB
Tele2 AB Telia Co.
Telia Co.
AB Vattenfall AB

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/impact-of-covid-19-on-sweden-economy

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Impact of COVID-19 on Sweden Economy Market Industry Size, Share, Trends and Forecast To 2025 here

News-ID: 2057737 • Views:

More Releases from Orion Market Research

AI-Enabled Imaging Modalities Market Rising Demand and Growth Forecast Through 2033
AI-Enabled Imaging Modalities Market Rising Demand and Growth Forecast Through 2 …
AI-enabled imaging modalities market was valued at approximately USD 1.36 billion, and it is projected to reach around USD 19.78 billion by 2033, reflecting a compound annual growth rate (CAGR) of about 34.67% from 2024 to 2033. AI-Enabled Imaging Modalities Market Overview The AI-enabled imaging modalities market is experiencing rapid growth, driven by advancements in artificial intelligence and machine learning technologies. These innovations are enhancing the capabilities of various imaging modalities, including
Tumor Tracking Systems Market Size Analysis, Competitive Insights, Leading Players and Growth Opportunities by 2033
Tumor Tracking Systems Market Size Analysis, Competitive Insights, Leading Playe …
Global tumor tracking systems market was valued at approximately USD 3.5 billion, and it is projected to reach around USD 6.6 billion by 2033, reflecting a compound annual growth rate (CAGR) of about 5% from 2024 to 2033. Tumor Tracking Systems Market Overview The tumor tracking systems market is experiencing steady growth, driven by the increasing incidence of cancer and advancements in imaging and tracking technologies. These systems improve the precision of
Tumor Tracking Systems Market Size Future Scope, Demands and Projected Industry Growths to 2033
Tumor Tracking Systems Market Size Future Scope, Demands and Projected Industry …
Tumor tracking systems market was valued at approximately USD 3.5 billion, and it is projected to reach around USD 6.6 billion by 2033, reflecting a compound annual growth rate (CAGR) of about 5% from 2024 to 2033. Tumor Tracking Systems Market Overview The tumor tracking systems market is experiencing steady growth, driven by the increasing prevalence of cancer and advancements in imaging technologies. These systems play a crucial role in enhancing the
SNP genotyping Market Size Analysis, Competitive Insights, Leading Players and Growth Opportunities by 2033
SNP genotyping Market Size Analysis, Competitive Insights, Leading Players and G …
SNP genotyping market was valued at approximately USD 31.66 billion, and it is projected to reach around USD 238.25 billion by 2034, reflecting a compound annual growth rate (CAGR) of about 20.1% from 2024 to 2034. SNP genotyping Market Overview The SNP genotyping market is experiencing significant growth, driven by advancements in genotyping technologies, an increase in the prevalence of genetic disorders, and the expansion of pharmacogenomics and precision medicine initiatives. This

All 5 Releases


More Releases for Swedish

Flavored Tobacco Market Is Booming So Rapidly | Major Giants Swedish Match, Altr …
HTF MI just released the Global Flavored Tobacco Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2032. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach. Major companies profiled in Flavored Tobacco Market are: Altria Group, British American
EU visit highlights Swedish maritime research
GÖTEBORG, Sweden - 30 May, 2023: A visit to RISE's test facilities SSPA Maritime Center from the Council of the European Union highlights the urgent need to reduce climate gas emissions from ships - and how Swedish research can contribute. The visitors will observe a laboratory demonstration of a future wind-powered RoRo vessel. RISE's test facilities SSPA Maritime Center in Gothenburg have helped the maritime industry to improve ship designs and
Green Buffers wins Swedish Steel Prize 2023
The winner of the international Swedish Steel Prize 2023 is Green Buffers from Sweden. The prize is awarded for their highly sophisticated use of energy-absorbing high-strength steel to make trains safer for passengers and more economical for operators. "The Green Buffers system uses high-strength steel profiles to dissipate the energy from a train collision in a controlled way. Their new generation coupling technology opens up for sophisticated custom design solutions that
Algoriffix receives funding from Swedish innovation agency Vinnova
Stockholm, June 23, 2020 The Stockholm-based startup Algoriffix will use the SEK 300,000 funding to further develop its artificial-intelligence-based musical creativity project “Jammin” and sharpen its business model. Only newly started companies with an innovative and international competitive business concept willing to grow in Sweden were eligible for Vinnova’s funding. All applications have been reviewed by at least three specially appointed assessors. Their decision was based on a weighting of the four
Shape Corp. wins Swedish Steel Prize 2019
The winner of the 20th international Swedish Steel Prize is Shape Corp. from the United States. The prize is awarded for the groundbreaking use of martensitic steel in a 3D formed tube for automotive roof rail applications. “With great skill, Shape Corp. has shown the way forward and has succeeded in efficiently utilizing a modern material with the highest possible strength level. This shows a major opportunity in challenging other lightweight
Swedish Company launches new Music Service
Swedish Company launches new Music Service www.Melodytubes.com Today the play-it-all Music Service Melodytubes was launched. Melodytubes includes the creation of Playlists with a single mouse click and features new ways to search for almost any song you can imagine while playing the song together with its Lyrics. November 24, 2010 UTC – The Swedish Company Munax today announced the launch of its new Music Service, Melodytubes (www.melodytubes.com). Melodytubes is a search