The environmental technology sector has seen highly impressive growth figures for years!
Overall, 3,326 Austrian companies with around 57,800 employees generated a total of Euro 21.42 billion in sales revenues in 2023. The average annual growth in the 2019 – 2023 period amounted to around 8.9 percent.
Environmental technology “Made in Austria“ scores worldwide with highly innovative products and system services. The environmental technology sector benefits nationally and internationally, as well as sustainably, from the need for a “green transformation“ of the economy. However, it is impressive that the sector shows such strong dynamic in 2023 – after the coronavirus crisis – and stands out with such remarkable performance, particularly in terms of sales. According to the latest study on the environmental technology sector of 2024, prepared by the Institute for Industrial Reseach (IWI) (data basis 2023) the environmental technology industry alone, as major driver of the environmental technology sector, grew significantly faster between 2019 and 2023 - with an average annual sales growth of 9.5 percent - than in the reference period from 2015 to 2019, when an average annual sales growth of 5.48 percent was recorded.
Environmental technology sector is aware of its pioneering role
The fight against climate change, the preservation of biodiversity and the existing scarcity of resources require quick solutions that necessitate particularly strong innovation efforts.
Research, technology development and innovation (RTI) are therefore playing a major role in the environmental technology sector. Over 64 percent of the enterprises (environmental technology industry and service providers) introduced at least one innovation (product, service or process) to the market between 2021 and 2023. Moreover, the application and dissemination of innovative environmental technologies and system services have been promoted by a wide range of targeted measures and programmes (Renewable Energy Expansion Act – ‘Erneuerbaren Ausbau-Gesetz‘, EAG), climate protection billion, National Climate and Transformation Offensive, RTI Initiative for Circular Economy, real-world laboratories for 100 percent renewable energy systems, Eco-Social Tax Reform, Economic Stimulus Act – ‘Konjunkturstärkungsgesetz‘, et cetera).
Even though the upward trend in employment in the environmental technology sector has been less pronounced than ecotech sales since 2019, averaging 3.0 percent per year, perfectly trained specialists will have very good chances of finding a job in the environmental technology sector in the coming years. According to the latest study, which in 2023 for the first time also surveyed the green skills needed in the sector, 62 percent of the companies surveyed still rely on internal training and further education measures, as more than a third of the companies are currently facing huge difficulties in finding qualified people on the labour market.
The increase in export sales compared to the previous study shows that the environmental technology sector contributes substantially to growth and prosperity in Austria and abroad, with the export share in the field of the environmental technology industry amounting to around 80 percent in 2023.
More detailed information on the 2024 study about the environmental technology sector (based on 2023 data) can be found online at: Umwelttechnologie in Zahlen Archives – ecotechnology.
Further data, facts and interviews on the innovative power and performance of Austria‘s environmental technologies can be found at www.ecotechnology.at.