Germany’s Electrical Trades Face First Revenue Drop in Years Amid Market Shifts
Germany’s electrical trades sector, which includes small business ideas, has experienced its first revenue decline in years. Figures for 2024 show a drop in turnover, employment, and business numbers. Industry leaders are now calling for government support to steady the market.
Total turnover in the sector fell to €84.3 billion, down from €87.8 billion the previous year. Electrical engineering, the largest segment, saw revenues shrink by 4.8% to €75.1 billion. The electrical machinery sector also contracted, declining by 2.9% to €2.7 billion.
Only the IT trades bucked the trend, with revenues rising by 5.7% to €6.4 billion. This subsector also expanded its workforce by 2.1%, reaching 32,657 employees. However, overall employment in the electrical trades dropped by 1.4% to 516,709, while revenue per employee fell by 2.6% to €163,127. The number of businesses in the sector slightly decreased by 0.1% to 48,178, with just 47 companies directly impacted by the downturn. Alexander Neuhäuser, CEO of the ZVEH, stressed the sector’s importance in securing energy supply and digital infrastructure. He urged the newly elected federal government to take quick action, though no specific name for the incoming administration was mentioned.
The 2024 figures mark a shift for Germany’s electrical trades after years of growth. With revenues, employment, and business numbers all declining, the sector now looks to government intervention for stability. Industry leaders have highlighted the need for measures to support resilience in key areas like energy and digital networks.
