A study of the remanufacturing sector has suggested that the industry could triple to €90 billion (£68 billion) by 2030.
The report by the European Remanufacturing Network (ERN) estimates the current remanufacturing sector as worth €30 billion currently.
But by 2030, if it reaches its potential and triples, it could also employ 255,000 people compared to 190,000 now.
Germany currently undertakes a third of Europe’s remanufacturing by turnover, according to the report.
The report was produced for ERN by Oakdene Hollins.
Oakdene Hollins senior consultant Seigo Robinson said: “The top motives for businesses to remanufacture are higher profit margins, environmental responsibility, a strategic advantage and increased market share.
“These all point to an encouraging view of the future of the remanufacturing industry from those within the business.”
Other motives for businesses will include a secure spare parts supply, potential to lower product prices, opportunities through alternative business models, reduced resource security risk, customer pressure, asset and brand protection, and reduced lead times.
View the report at http://www.remanufacturing.eu/remanufacturing/european-landscape/