Historical data on kitchen furniture hours worked in Spain shows a significant initial decline, with the hours worked dropping from 10.955 million in 2013 to a low of 9.5831 million by 2016. After this, a short period of growth was observed, peaking at 11.042 million hours in 2019. However, the following years saw fluctuating values with an overall downward trend, with the hours worked decreasing to 8.9655 million by 2023.
Notable year-on-year variations include a drop of 6.87% in 2020, followed by smaller declines of 3.19% in 2021 and 5% in 2022. By 2023, there was a further reduction of 5.21%. The Compound Annual Growth Rate (CAGR) for the last five years up to 2023 is approximately -3.79%.
Looking forward, forecasted data reveal a persistent decline in the hours worked in the kitchen furniture sector, reducing to 6.5757 million hours by 2028. The forecasted five-year CAGR from 2023 to 2028 is -4.95%, indicating a continued shrinking trend in the industry.
Future trends to watch for include:
- Potential market shifts or innovations that could reignite activity in the kitchen furniture sector.
- Economic factors that might influence labor trends, such as changes in consumer spending or housing market conditions.
- Advancements in automation and technology that might alter working hours in the industry.