Germany leads the European Electrical Equipment wages and salaries sector with €16.83 billion in 2024. France and Italy follow at €2.6 billion and €1.82 billion respectively, with considerable gaps from Germany. Countries like Poland, Czech Republic, and Norway exhibited significant positive growth in 2023 at 9.1%, 3.84%, and 8.31% respectively. Conversely, countries like Austria, United Kingdom, and Sweden saw slight declines. Emerging markets such as Lithuania and Serbia noted substantial jumps, reflecting potential for growth. The last five years showed moderate average annual growth, indicating progressive but uneven expansion across the region.
Future trends to watch include continued growth in Eastern Europe driven by improving economic conditions and industrial investments. Western Europe may see steadier, modest increases due to market saturation and higher baseline wages. Industry shifts towards digitalization and renewable energies may also influence wage structures and regional developments.
Top countries in Electrical Equipment Wages and Salaries by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 16,830 | 2023 | +4.02% | +13.28% | View data |
| 2 | 2 France | 2,600 | 2023 | +2.2% | +1.48% | View data |
| 3 | 3 Italy | 1,820 | 2023 | +1.14% | +0.97% | View data |
| 4 | 4 Austria | 1,400 | 2023 | +0.5% | -0.65% | View data |
| 5 | 5 United Kingdom | 1,140 | 2023 | -0.49% | -0.63% | View data |
| 6 | 6 Spain | 1,040 | 2023 | -0.22% | -0.36% | View data |
| 7 | 7 Czech Republic | 918.3 | 2023 | +3.32% | +3.84% | View data |
| 8 | 8 Poland | 886 | 2023 | +8.93% | +9.1% | View data |
| 9 | 9 Switzerland | 818.2 | 2023 | +6.65% | +0.35% | View data |
| 10 | 10 Finland | 561.4 | 2023 | +0.66% | +0.67% | View data |
