The employment in the transport equipment rental sector in Norway stood at 7.76 thousand employees in 2023. Over the past decade, we've seen fluctuations, with employment numbers rising and falling but generally trending upwards. Significant year-on-year variations included a rise of 5.71% in 2018 and a decline of 4.17% in 2015. From 2019 to 2023, employment growth rate remained relatively stable, showcasing modest increases.
From 2019 to 2023, the Compound Annual Growth Rate (CAGR) varied, reaching a low of 0.56% in 2023, indicating a cautious but steady growth pattern. The forecast for 2024 onward predicts continuous expansion, with an expected 5-year CAGR of 0.45% and an overall forecasted growth rate of 2.28% by 2028, reflecting confidence in the sector's resilience.
Future trends to watch for:
- Technological advancements impacting rental services
- Environmental regulations driving the demand for eco-friendly transport options
- Shifts in consumer behavior towards shared mobility solutions
