In 2023, Germany significantly led the European locks and hinges wages and salaries share at 54.94 million euros, with Austria and France trailing. Sweden and Portugal saw the highest year-on-year wage growth at 16.52% and 18.74% respectively, while France, Cyprus, and Denmark faced declines. Notably, Serbia and Latvia experienced significant upward trends, with increases of 8.32% and 7.7% respectively, indicating potential market dynamism. Overall, Eastern European countries showed promising growth, albeit from lower base figures.
Future trends to watch include:
- The sustained growth in Eastern European markets, compensated by lower initial values, indicating a potential shift in regional industry competitiveness.
- Evolving labor costs in Western Europe could influence industry dynamics and the distribution of production facilities.
Top countries in Locks and Hinges Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 54.94 | 2023 | +6.21% | +3.19% | View data |
| 2 | 2 Austria | 13.81 | 2023 | +3.23% | +3.37% | View data |
| 3 | 3 France | 5.72 | 2023 | -0.11% | -3.23% | View data |
| 4 | 4 Italy | 5.33 | 2023 | -0.16% | -0.58% | View data |
| 5 | 5 United Kingdom | 4.72 | 2023 | +0.18% | -0.046% | View data |
| 6 | 6 Spain | 3.79 | 2023 | -0.85% | -1.19% | View data |
| 7 | 7 Sweden | 2.38 | 2023 | +4.85% | +16.52% | View data |
| 8 | 8 Portugal | 1.68 | 2023 | +21.15% | +18.74% | View data |
| 9 | 9 Poland | 1.58 | 2023 | +2.23% | +2.35% | View data |
| 10 | 10 Slovenia | 0.85 | 2023 | +1.03% | +2.23% | View data |
