It is certainly interesting to see what the partial demerger—
The industry has indeed consolidated heavily over the last 4-5 years, and I agree that by 2030, only these large players will be left—depending, of course, on the companies’ strategies.
Remondis is involved in a way, as they own Delete; I think they and other international operators are intimidated by the municipalization you mentioned and the increasing regulation, and are waiting for the situation to stabilize.
The aforementioned factors also mean that small local players will surely be happy to sell their businesses. In addition to these largest ones, there are a few mid-sized operators in the industry, and it will be interesting to see whether they end up in the arms of the larger ones or if they lead the consolidation—by mid-sized, I mean those with a turnover of €20–40m operating in a segment broader than just local.
L&T, being the only publicly listed one, is certainly an interesting case now that Luotea has been spun off, to see what they will do—will they invest in facilities, continue organic and inorganic expansion, etc.