German economy benefits from green-tech boom
Clean Energy Wire
Experts from Germany’s environment ministry expect the global market for environmental technologies to grow by more than seven percent in the next ten years. The German sector is developing even more dynamically with average annual growth of more than eight percent, the environment ministry said upon publication of its “GreenTech Atlas 2021.” The ministry said that the ecological transformation of the economy and society is in full swing and is leading to radically changed market conditions and business models. “The companies that will benefit from this are those that offer technologies and services to successfully shape this transformation,” the ministry statement said.
In 2020, the market volume of the domestic industry amounted to 392 billion euros. By 2030, it will more than double to 856 billion euros, according to the report. Environmental technology and its companies produced 15 percent of Germany’s gross domestic product in 2020, and the COVID-19 crisis affected the sector “far less than the economy as a whole.”
Environment minister Svenja Schulze said: "The strong achievements of the German green tech companies are not only good for the environment but also make our economy stronger and more crisis-proof”.
The "GreenTech Atlas" examines developments in environmental technology and resource efficiency on behalf of the environment ministry. It provides up-to-date information on technologies, market sizes and growth expectations in the sector’s various lead markets.