In 2023, Germany led the European parts and accessories for motor vehicles sector with 17.06 billion euros in wages and salaries, reflecting a 1.39% annual growth. France and Italy followed with 4.95 and 3.32 billion euros, growing at 2.96% and 0.21%, respectively. Poland, showing a 3.79% increase, outperformed in Eastern Europe at 2.73 billion euros. Notably, Lithuania saw the highest surge at 22.21%. In contrast, Belgium and Croatia experienced declines. Over five years, Bulgaria, Serbia, and Lithuania marked substantial growth, with Bulgaria achieving an 11.79% increase just in 2023.
Future trends to watch include:
- Continued optimization of cost structures in low-cost economies might accelerate, impacting wage growth.
- Potential labor shifts due to evolving automotive technologies, like electric vehicle parts, could reshape wage distribution.
- The economic impact of regulatory changes in key markets may influence wage adjustments, requiring close monitoring.
Top countries in Parts and Accessories for Motor Vehicles Wages and Salaries by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 17,060 | 2023 | +2.48% | +1.39% | View data |
| 2 | 2 France | 4,950 | 2023 | +4.06% | +2.96% | View data |
| 3 | 3 Italy | 3,320 | 2023 | +1.81% | +0.21% | View data |
| 4 | 4 Poland | 2,730 | 2023 | +4.41% | +3.79% | View data |
| 5 | 5 Spain | 2,500 | 2023 | +0.31% | +0.65% | View data |
| 6 | 6 Czech Republic | 2,250 | 2023 | +2.31% | +0.54% | View data |
| 7 | 7 Romania | 2,080 | 2023 | +3.2% | +0.7% | View data |
| 8 | 8 United Kingdom | 1,820 | 2023 | -0.25% | +0.022% | View data |
| 9 | 9 Hungary | 1,430 | 2023 | +4.28% | +3.02% | View data |
| 10 | 10 Slovakia | 971.1 | 2023 | +4.34% | +3.48% | View data |
