The data on employment in Belgium's industrial cooling and ventilation equipment sector indicates a notable decline. From a high of 5.25 thousand employees in 2013, the numbers saw fluctuations but fell to 4.11 thousand by 2023. The most recent two years displayed year-on-year decreases of 3.31% (2022) and 3.4% (2023). The five-year CAGR leading up to 2023 was -3.04%. Interestingly, employment numbers are anticipated to decline further, with a forecasted CAGR of -2.99% from 2024 to 2028, resulting in a 14.1% overall decrease in employment by 2028.
Future trends to watch include advancements in automation and energy-efficient technologies which may affect employment needs. Additionally, economic factors and environmental regulations could shape the industry, potentially leading to further workforce adjustments. Monitoring these variables will be crucial for understanding future employment trends in this sector.
