From 2013 to 2023, employment in the manufacture of musical instruments in Denmark has shown a generally declining trend, with fluctuations year-on-year. Employment was steady at 129 FTEs from 2013 to 2014, with a slight increase to 131 in 2015 and 2016. However, the sector experienced a notable drop to 125 in 2017 and continued a downward trend to 119 by 2019. Stabilization was observed thereafter, fluctuating slightly around the 120 mark from 2020 to 2023. In 2023, the employment was 120 FTEs, showing no change from the previous year.
The Compound Annual Growth Rate (CAGR) between 2018 and 2023 was -0.65%. The forecast predicts a slight decline, with employment expected to be around 119 FTEs from 2025 to 2028, reflecting a forecasted 5-year CAGR of -0.17% and a growth rate of -0.83% by 2028.
Future trends to watch for:
- Potential automation and digital innovation impact.
- Global market demand shifts for musical instruments.
- Effects of economic conditions on discretionary spending.
