In 2023, Germany led European wages in the electric motors, generators, and transformers sector with 3.2 billion euros, reflecting a modest annual increase of 0.58%. Poland's sector surged by 21.75%, indicating rapid growth, while Norway saw a sharp decline of 42.53%. Austria (-2.41%) and Italy (-2.17%) experienced slight contractions. Estonia (2.46%) and Serbia (11.98%) reported significant growth, suggesting emerging market potential.
Future trends to monitor include the impact of sustainability demands and digitization on salary structures, potential shifts in production to lower-cost countries, and the influence of policy changes in the context of EU’s green agenda on salary scales.
Top countries in Electric Motors, Generators, Transformers Wages and Salaries by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 3,200 | 2023 | +6.52% | +0.58% | View data |
| 2 | 2 Austria | 875.7 | 2023 | -0.99% | -2.41% | View data |
| 3 | 3 United Kingdom | 835.8 | 2023 | +2.44% | +1.03% | View data |
| 4 | 4 Spain | 735.4 | 2023 | +3.24% | +1.4% | View data |
| 5 | 5 France | 687 | 2023 | +1.04% | +1.88% | View data |
| 6 | 6 Poland | 658.1 | 2023 | +23.7% | +21.75% | View data |
| 7 | 7 Italy | 563.3 | 2023 | -1.55% | -2.17% | View data |
| 8 | 8 Finland | 440.6 | 2023 | +0.36% | +0.75% | View data |
| 9 | 9 Czech Republic | 408.2 | 2023 | +1.09% | -1% | View data |
| 10 | 10 Denmark | 219.9 | 2023 | +2.23% | +1.87% | View data |
