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Country Industry Forecast - European Union Environmental Industry
Frost & Sullivan, April 2004
Environmental technologies are increasingly being viewed as a potentially high-growth area in the European Union (EU), in spite of the slower rate of growth in recent years. The expansion of this promising sector is chiefly being influenced by the strict implementation of stringent regulations and by the potential demand in the developing world. Additionally, the increasing utilization of market-based cap and trade programs in the areas of emission trading and air pollution is helping raise awareness of the critical need for greater environmental responsibility. These crucial developments are expected to stimulate demand for environmental goods and services.
Over the last decade, various steps have been taken toward achieving economic and political integration within the EU. Major developments in this respect include the formation of the European Monetary Union; the adoption of single currency by 12 member states; and the removal of barriers restricting the free movement of labor, capital, goods and services. These reduced trade barriers are expected to be a key driver of industry growth, along with enhanced awareness of environmental issues as a result of increasing globalization.
Currently, key EU institutions - such as the European Commission, Council of European Union and European parliament - are focused on attaining the goals set by the Lisbon agenda. Primarily, their aim is to make the EU one of the most competitive and dynamic economies of the world by 2010 and to achieve stable economic development. The EU's growth initiatives seek to ramp up investment in human capital to raise workforce productivity; improve physical infrastructure; and develop better networks in the transportation, telecommunications, and energy sectors.
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