The employment in the manufacturing sector of lifting and handling equipment in Belgium demonstrated a declining trend from 2013 to 2023, decreasing from 2.29 thousand to 1.2 thousand Full-Time Equivalents (FTE). Notable year-on-year variations included a sharp decline in 2015 by 17.6% and a significant recovery in 2019 with a 23.91% increase. The compound annual growth rate (CAGR) for this period reveals a consistent reduction in employment, averaging -5.81% over the last five years.
Looking forward from 2024 to 2028, the forecast suggests a continued decline. By 2028, employment is expected to fall to 0.616 thousand FTE, indicating a 43.12% decrease over five years with a forecasted CAGR of -10.67%.
- 2013: Employment was -1.47% from the previous year, with a CAGR of -0.29%
- 2015: Notably significant decline of -17.6% year-on-year
- 2019: Marked a recovery with +23.91% year-on-year
- 2023: Employment stood at 1.2 thousand FTE, with -6.96% decline year-on-year
- 2028: Projected further decline with a forecasted CAGR of -10.67%
Future trends to watch for include the impact of automation and technological advancements that may further reduce employment needs in the sector. Additionally, geopolitical and economic factors could influence industrial outputs and subsequently, employment levels.
