In 2023, Germany led the European cables and wiring devices market with wages and salaries at 4.51 billion euros. France and Italy were significant players, though Italy saw a decline in growth, contrasting with gains in France and the UK. Spain exhibited a substantial increase of 10.65%, while Serbia showed the highest growth at 13.5%. Other notable growth was observed in Latvia and Bosnia and Herzegovina, signaling shifting labor dynamics. The sector experienced varying yearly trends, with more volatile performance in Eastern Europe.
Future trends to watch include technological adoption impacting workforce demand, and economic shifts in manufacturing hubs leading to varied wage growth across Europe. Southern and Eastern European countries may see further growth due to competitive labor costs and increasing industrial investments.
Top countries in Cables and Wiring Devices Wages and Salaries by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 4,510 | 2023 | +1.76% | +1.45% | View data |
| 2 | 2 France | 1,170 | 2023 | +1.65% | +1.26% | View data |
| 3 | 3 Italy | 505.4 | 2023 | -0.14% | -1.21% | View data |
| 4 | 4 United Kingdom | 415.7 | 2023 | -0.34% | +1.09% | View data |
| 5 | 5 Spain | 403.8 | 2023 | +15.08% | +10.65% | View data |
| 6 | 6 Austria | 225.1 | 2023 | +4.21% | +4.77% | View data |
| 7 | 7 Poland | 198.1 | 2023 | +4.43% | +4.18% | View data |
| 8 | 8 Belgium | 193 | 2023 | +1.85% | -0.64% | View data |
| 9 | 9 Hungary | 191.8 | 2023 | +8.12% | +2.39% | View data |
| 10 | 10 Sweden | 187.4 | 2023 | +1.3% | +2.57% | View data |
