In 2023, Germany led the European market for electric motors, generators, and transformers in terms of wages and salaries share, registering a slight year-on-year growth. Austria and Italy experienced declines, while the United Kingdom, Spain, France, and several Eastern European countries such as Poland and Hungary showed growth. Notably, Poland exhibited significant growth of 21.75%, and Serbia also saw a substantial increase, reflecting a shift towards Eastern Europe. Negative trends were noticeable in Sweden and Norway.
Looking ahead, attention should be paid to Eastern European countries, as favorable labor conditions may continue to attract industry investment. Additionally, watch for potential economic influences like green energy policies impacting industry growth across the continent.
Top countries in Electric Motors, Generators, Transformers Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 35.36 | 2023 | +6.52% | +0.58% | View data |
| 2 | 2 Austria | 9.67 | 2023 | -0.99% | -2.41% | View data |
| 3 | 3 United Kingdom | 9.23 | 2023 | +2.44% | +1.03% | View data |
| 4 | 4 Spain | 8.12 | 2023 | +3.24% | +1.4% | View data |
| 5 | 5 France | 7.59 | 2023 | +1.04% | +1.88% | View data |
| 6 | 6 Poland | 7.27 | 2023 | +23.7% | +21.75% | View data |
| 7 | 7 Italy | 6.22 | 2023 | -1.55% | -2.17% | View data |
| 8 | 8 Finland | 4.87 | 2023 | +0.36% | +0.75% | View data |
| 9 | 9 Czech Republic | 4.51 | 2023 | +1.09% | -1% | View data |
| 10 | 10 Denmark | 2.43 | 2023 | +2.23% | +1.87% | View data |
