The data on hours worked in floor and wall covering in Belgium shows a consistent downward trend over the past decade. Starting at 4.9733 million hours in 2013, the hours slightly increased in 2014 but began to decline continuously from 2015 to 2023. By 2023, the hours worked stood at 3.6546 million, marking a significant decrease. Year-on-year variations further show a declining trend, with the highest drop of 10.33% occurring in 2020. Over the last five years, the compound annual growth rate (CAGR) highlights an average annual decrease of 4.27%.
Moving forward, forecast data from 2024 to 2028 suggests continued decline, reaching 2.7891 million hours by 2028. The five-year CAGR forecast predicts an average annual decrease of 4.32%, culminating in a total reduction of 19.81% over this period.
Future trends to watch:
- Impact of increasing automation and technological advancements on labor needs.
- Changes in market demand for floor and wall covering due to economic cycles.
- Potential shifts towards more sustainable and labor-efficient materials and techniques.
