"Challenging times for industry, but far from hopeless"

Sweden’s technology industry has been severely tested in recent years. From the effects of the pandemic and component shortages to geopolitical tensions, rising costs, and financial uncertainty. The result is a more cautious market where many investment decisions are delayed and order books are starting to thin out

– We’re seeing a very mixed picture right now. Some sectors are struggling, while others are doing relatively well. The situation is cautious but not hopeless. The automotive and machinery industries are under particular pressure, especially those that rely heavily on exports to the US. At the same time, there are exceptions. The defense industry is growing rapidly, and the electrical engineering sector is benefiting from ongoing electrification, says Erik Spector.

Opportunity within uncertainty

Despite the challenges, Swedish industry continues to show strong adaptability and resilience. Advances in digital technology, the green transition, and a vibrant innovation ecosystem are opening up new opportunities for growth.

– We should not underestimate how much companies have managed to overcome in recent years. It has been an intense period. Yet production has remained steady, and many have adapted quickly, says Erik.

He highlights the importance of staying open to the outside world. Pulling back and moving production back to Sweden is not the right path forward.

– International supply chains are still crucial for Sweden’s competitiveness, but flexibility is essential. Companies that can move quickly and have the courage to invest during uncertain times often gain an advantage when the market turns, he continues.

Collaboration as a strategy for success

Even with the current difficulties, Sweden's strength lies in its innovation capacity and its culture of collaboration, both within sectors and across industries.
-    Companies have already overcome major challenges and proven that the system is robust. Ongoing collaboration is key to continued progress, Erik says.

In uncertain times, networking, collaboration, and the exchange of ideas become more important than ever. This makes events like Elmia Subcontractor especially valuable. It is a place where companies can come together, build new relationships, and find solutions, even in the midst of global economic turbulence.

  – This is my second year speaking at the event, and I’m really looking forward to it. I’ll be talking about the current state of the Swedish and global economies, but also about how the industry can find new paths forward despite the economic climate. Elmia Subcontractor brings together companies, conversations, and ideas from across the entire industrial value chain. It is a place for direction, solutions, and a sense of optimism, right when it is needed the most, Erik concludes.