The analysis of European Repair and Installation of Machinery and Equipment Hours Worked reveals that Germany has the highest value, reaching over 390 million hours, with a slight increase of 0.59% in 2023. The United Kingdom exhibited a decline of 0.38%, while Italy and Romania saw more significant decreases of 1.54% and 1.4%, respectively. In contrast, Belgium and Croatia had notable increases, with 4.35% and 3.96% growth rates. A positive trend is observed in smaller countries, with Estonia and Latvia showing increases of 4.57% and 3.1%.
For 2024 and beyond, key trends to watch include:
- Continued growth in Belgium and Croatia driven by technological adoption.
- Potential rebound in Hungary and Nordic countries amid economic stabilization.
- Increased investment in Eastern European markets, such as Latvia and Estonia, could drive further gains.
- The impact of EU green and digital policies on the machinery and equipment sector.
- Adaptation to changing labor market dynamics, particularly post-COVID adjustments.
Top countries in Repair and Installation of Machinery and Equipment Hours Worked by Country
| # | 10 Countries | Hours | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 390,080,000 | 2023 | +1.37% | +0.59% | View data |
| 2 | 2 United Kingdom | 197,750,000 | 2023 | -0.39% | -0.38% | View data |
| 3 | 3 Italy | 182,780,000 | 2023 | +1.71% | -1.54% | View data |
| 4 | 4 Poland | 158,540,000 | 2023 | -0.2% | +0.56% | View data |
| 5 | 5 Spain | 151,640,000 | 2023 | +0.97% | +0.3% | View data |
| 6 | 6 Netherlands | 75,413,000 | 2023 | +1.88% | +1.33% | View data |
| 7 | 7 Czech Republic | 71,535,000 | 2023 | +0.62% | +0.13% | View data |
| 8 | 8 Romania | 44,038,000 | 2023 | -2.03% | -1.4% | View data |
| 9 | 9 Portugal | 40,373,000 | 2023 | +0.88% | +0.59% | View data |
| 10 | 10 Austria | 36,005,000 | 2023 | +2.17% | +1.48% | View data |
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