Circular economy could unlock $1.7T in Europe by 2040 and $1.5T in the United States by 2030
Economic value ($B)
Sources: Europe data from Summa Equity analysis and report (2023), "Investing in a circular and waste-free Europe." US data from Oliver Wyman & Ellen MacArthur Foundation (2024), "An Innovation Pathway to Decarbonization." Notes: Europe figures converted from EUR to USD at EUR/USD = 1.165 (ECB reference rate, June 2, 2026). US donut chart figures represent upper-bound estimates.
Europe by 2040
By model
United States by 2030
By industry
1,100
Built environment
Electronics
388
EV & grid-scale batteries
24
Circular business models
874
Material inefficiency
117
Residual waste mgmt
204
Material recycling
524
Breakdown of US economic and climate opportunities by industry
Climate opportunity today: 7% to 16% of total US GHG emissions
Economic opportunity today: 4% to 7% of US GDP
Industry
Built environment
~$575 billion to $1.1 trillion
EV & grid-scale batteries
~$6 billion to $24 billion
2 million to 3 million tons of CO2e
Electronics
~$301 billion to $388 billion
295 million to 538 million tons of CO2e
73 million to 311 million tons of CO2e
Total across three sectors reviewed
$883 billion to $1.5 trillion in economic value
370 million to 852 million tons of CO2e