In 2023, Germany leads in wages and salaries for the locks and hinges industry, with a notable value of 2.55 billion euros, followed by Austria and France. Exceptionally, Sweden and Portugal showed significant increases, with year-on-year variations of 16.52% and 18.74%, respectively. Conversely, France, Belgium, and Cyprus saw declines. Hungary and Iceland maintained minimal changes, while some Eastern European countries like Romania and Bulgaria experienced positive growth. Over the last five years, consistent countries in wage growth include Poland and Slovenia, showcasing the industry's dynamic shifts.
Future trends to monitor include the impact of technological advancements and automation on labor costs within this sector, the potential for Eastern European countries to narrow the wage gap due to industrial growth, and effects on wages due to changes in trade policies and economic conditions across Europe.
Top countries in Locks and Hinges Wages and Salaries by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 2,550 | 2023 | +6.21% | +3.19% | View data |
| 2 | 2 Austria | 639.8 | 2023 | +3.23% | +3.37% | View data |
| 3 | 3 France | 264.9 | 2023 | -0.11% | -3.23% | View data |
| 4 | 4 Italy | 246.8 | 2023 | -0.16% | -0.58% | View data |
| 5 | 5 United Kingdom | 218.7 | 2023 | +0.18% | -0.046% | View data |
| 6 | 6 Spain | 175.5 | 2023 | -0.85% | -1.19% | View data |
| 7 | 7 Sweden | 110.2 | 2023 | +4.85% | +16.52% | View data |
| 8 | 8 Portugal | 77.9 | 2023 | +21.15% | +18.74% | View data |
| 9 | 9 Poland | 73.4 | 2023 | +2.23% | +2.35% | View data |
| 10 | 10 Slovenia | 39.2 | 2023 | +1.03% | +2.23% | View data |
