The employment in the motor vehicles sector in Denmark stood at 5.38 million hours in 2023. Over the last two years (2022-2023), employment saw a year-on-year decrease of approximately 2.5% per year. The compound annual growth rate (CAGR) for the last five years (2018-2023) is -3.76%, indicating a consistent decline in employment hours.
From 2013 to 2018, the employment hours showed a mixed pattern with both growth and declines, peaking at 6.51 million hours in 2018. Post-2018, the trend shifted towards a consistent decline, reaching 5.38 million hours in 2023. The forecast predicts this downtrend to continue, with employment hours expected to drop to 4.64 million by 2028, marking a 2.32% CAGR decline.
Future trends to watch for include the impact of technological advancements and automation in the industry, potential shifts towards sustainable transport solutions, and changes in global trade policies affecting vehicle manufacturing and employment. Monitoring these factors is essential for understanding future employment trajectory in Denmark’s motor vehicles sector.
