In 2023, Germany led the European steel drums and similar containers sector in wages and salaries with €123.7 million, despite a slight reduction of 0.24% from the previous year. Poland and Italy showed moderate growths of 0.89% and 1.0%, reaching €82.9 million and €62.1 million respectively. Conversely, the United Kingdom and Spain experienced declines, with Spain's decrease notably steep at 2.78%. Smaller markets like Hungary showed positive growth at 4.07%, while Serbia's wages skyrocketed by 56.83% from the previous years, indicating significant investment in these emerging markets.
Looking forward, trends in the European steel drum industry indicate potential shifts due to economic and political factors. Watch for the effects of automation and sustainability on labor costs, particularly in countries with declining trends like Spain and the United Kingdom. Emerging markets such as Serbia and Hungary could continue to grow, following recent upward shifts in wages, driven by increasing industrial activities and investments.
Top countries in Steel Drums and Similar Containers Wages and Salaries by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 123.7 | 2023 | +2.23% | -0.24% | View data |
| 2 | 2 Poland | 82.9 | 2023 | +3.63% | +0.89% | View data |
| 3 | 3 Italy | 62.1 | 2023 | +3.16% | +1% | View data |
| 4 | 4 United Kingdom | 31.8 | 2023 | +0.95% | -0.56% | View data |
| 5 | 5 France | 26.8 | 2023 | +0.37% | +0.3% | View data |
| 6 | 6 Spain | 26.4 | 2023 | 0% | -2.78% | View data |
| 7 | 7 Belgium | 10.6 | 2023 | +0.95% | -7.08% | View data |
| 8 | 8 Hungary | 8.3 | 2023 | +3.75% | +4.07% | View data |
| 9 | 9 Czech Republic | 7.4 | 2023 | -7.5% | -8.16% | View data |
| 10 | 10 Finland | 5.2 | 2023 | -5.45% | -12.08% | View data |
