In 2023, Germany led the European electrical equipment sector in terms of wages and salaries, with a substantial share, showcasing significant annual growth. France and Italy followed but with moderate increases. Poland, Bulgaria, and Lithuania showed notable growth, hinting at emerging trends in Eastern Europe. Meanwhile, traditional markets like Austria and the UK experienced declines. The data indicates diverse dynamics across Europe, with some countries expanding rapidly against a backdrop of stable or declining others.
Future trends to watch include continued growth in Eastern European countries due to competitive labor costs and increasing investments. Additionally, potential economic changes and advancements in technology may impact traditional market leaders like Germany and potentially alter their market share dynamics.
Top countries in Electrical Equipment Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 53.94 | 2023 | +4.02% | +13.28% | View data |
| 2 | 2 France | 8.34 | 2023 | +2.2% | +1.48% | View data |
| 3 | 3 Italy | 5.82 | 2023 | +1.14% | +0.97% | View data |
| 4 | 4 Austria | 4.47 | 2023 | +0.5% | -0.65% | View data |
| 5 | 5 United Kingdom | 3.67 | 2023 | -0.49% | -0.63% | View data |
| 6 | 6 Spain | 3.34 | 2023 | -0.22% | -0.36% | View data |
| 7 | 7 Czech Republic | 2.94 | 2023 | +3.32% | +3.84% | View data |
| 8 | 8 Poland | 2.84 | 2023 | +8.93% | +9.1% | View data |
| 9 | 9 Switzerland | 2.62 | 2023 | +6.65% | +0.35% | View data |
| 10 | 10 Finland | 1.8 | 2023 | +0.66% | +0.67% | View data |
