The Electrical Equipment sector in France has seen a steady decline in the number of employees from 2013 to 2023, dropping from 87,000 to 72,000 units. This signifies a year-on-year variation averaging around -2.15% with recent years showing declines between -1.33% and -2.7%. The 5-year CAGR from 2019 to 2023 stands at -1.59%, indicating a persistent downward trend.
Future forecasts continue to predict a decline, with numbers expected to fall to 65,000 by 2028, resulting in an overall forecasted 5-year CAGR of -1.75% and a total reduction rate of -8.45%. This suggests a continued decrease in the workforce within this sector.
Trends to watch:
- Automation and increased efficiency potentially reducing workforce needs.
- Shifts in industrial policies and investments in green energy potentially impacting employment rates.
- Economic conditions and global competition could further influence employment figures.