The 2023 data on European Metal Forming Machinery and Machine Tools Wages and Salaries displays a sharp contrast among countries. Germany leads significantly with 7.15 billion Euros, followed by Italy at 1.62 billion Euros and Switzerland at 1.11 billion Euros. Austria and the UK follow at 0.4375 billion Euros and 0.3213 billion Euros, respectively. France and Spain show values around 0.2512 billion Euros and 0.3088 billion Euros. Smaller economies such as Czech Republic, Netherlands, and Sweden report under 0.2 billion Euros, illustrating wide disparities within Europe.
Key variations in 2023 reveal:
- Germany grew by 1.36% while Italy increased by 1.71%.
- Switzerland demonstrated a 2.15% rise, and Austria by 2.85%.
- The UK saw a slight decline of 0.14%, and Spain decreased by 1.05%.
- France experienced a 1.4% increase, unlike the Czech Republic which dropped by 0.19%.
- Notable growth was seen in the Netherlands at 3.73% and Slovenia at 3.03%.
- Portugal, Macedonia, and Lithuania showed significant rises of 7.97%, 14.87%, and 8.94%, respectively.
- Conversely, Greece and Bosnia and Herzegovina faced sharp declines of 33.58% and 3.93%.
- Poland and Hungary also experienced notable drops of 3.36% and 3.68%.
Future trends to watch include potential growth driven by technological advancements and automation in manufacturing. Countries with declining wages may implement policy shifts to bolster the industry, while growth in nations like Portugal and Macedonia suggests emerging manufacturing hubs. Monitoring these dynamic changes will be crucial for stakeholders in the European metal forming machinery and machine tools sector.
Top countries in Metal Forming Machinery and Machine Tools Wages and Salaries by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 7,150 | 2023 | +4.82% | +1.36% | View data |
| 2 | 2 Italy | 1,620 | 2023 | +4.65% | +1.71% | View data |
| 3 | 3 Switzerland | 1,110 | 2023 | +2.73% | +2.15% | View data |
| 4 | 4 Austria | 437.5 | 2023 | +3.43% | +2.85% | View data |
| 5 | 5 United Kingdom | 321.3 | 2023 | +0.12% | -0.14% | View data |
| 6 | 6 Spain | 308.8 | 2023 | +0.42% | -1.05% | View data |
| 7 | 7 France | 251.2 | 2023 | +3.42% | +1.4% | View data |
| 8 | 8 Czech Republic | 186.1 | 2023 | +3.16% | -0.19% | View data |
| 9 | 9 Netherlands | 119.6 | 2023 | +1.7% | +3.73% | View data |
| 10 | 10 Sweden | 115.9 | 2023 | +0.086% | -0.63% | View data |
