In 2023, Germany dominated European labor costs in the motor vehicles, trailers, and semi-trailers sector with €77.34 million, far surpassing other countries such as Italy (€8.46 million) and Spain (€7.1 million). Austria, Belgium, and the Netherlands had moderate figures, while countries like Finland, Slovenia, Ireland, Estonia, and Greece had smaller contributions. From 2022 to 2023, Germany, Austria, Netherlands, Finland, Ireland, Estonia, and Italy saw increases in labor costs, while Belgium and Greece experienced declines. Among them, Ireland showed the highest year-on-year growth at 2.69%, whereas Greece had a significant drop of 5.02%.
Future trends suggest continued dominance of Germany owing to its industrial capacity and workforce efficiency. Watch for potential increases in other European countries due to technological advancements, automation, and shifts in manufacturing hubs. Attention towards sustainable and green technologies may also affect labor costs in the coming years, potentially reducing operational expenses and influencing labor market shifts.
Top countries in Labour Costs in Motor Vehicles, Trailers and Semi-trailers Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 77.34 | 2023 | +2.09% | +2.37% | View data |
| 2 | 2 Italy | 8.46 | 2023 | +1.1% | +0.77% | View data |
| 3 | 3 Spain | 7.1 | 2023 | +0.91% | +0.79% | View data |
| 4 | 4 Austria | 2.55 | 2023 | +2.39% | +1.79% | View data |
| 5 | 5 Belgium | 1.83 | 2023 | -1.25% | -1.44% | View data |
| 6 | 6 Netherlands | 1.57 | 2023 | +2.17% | +1.64% | View data |
| 7 | 7 Finland | 0.48 | 2023 | +2.53% | +1.78% | View data |
| 8 | 8 Slovenia | 0.46 | 2023 | +2.65% | +2.3% | View data |
| 9 | 9 Ireland | 0.13 | 2023 | +1.07% | +2.69% | View data |
| 10 | 10 Estonia | 0.064 | 2023 | +2.03% | +2.05% | View data |
