The employment in the Carpets and Rugs sector in Germany has seen significant fluctuations over the past decade. Starting from a high in 2013, there was a general downward trend until 2018, which saw a notable spike. However, this was followed by a steep decline in 2020. The years 2021 and 2022 witnessed a modest recovery, and by 2023, the employment stood at 2.84 thousand FTE. Comparing the last two years, there was a slight year-on-year increase in 2023 of 1.61%. The five-year CAGR up to 2023 was -4.22% indicating a general declining trend in recent years.
Forecasts for the next five years predict a continued decline, with the 5-year CAGR projected at -1.85%, resulting in an 8.9% decrease in employment by 2028.
Future trends to watch for:
- Automation and technological advancements impacting employment.
- Potential shifts towards sustainability and eco-friendly materials influencing market dynamics.
- The effect of global economic conditions and trade policies on the sector's performance.