Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report showing that the current global market for cleantech products and services is about $284 billion, growing to over $1.3 trillion in 2017. Of this amount more than one-third ($467 billion) is attributable to renewable energy sources, such as biofuels, solar, tidal, and wind power.
“Cleantech Current Status and Worldwide Outlook” reports that together these segments are expected to grow from a current value of $104 billion to approximately $467 billion in 2017. The cleantech market is the third largest venture-capital investment category, behind only biotech and software.
The report shows that since 2001, clean technology's global share of overall venture capital investments has more than doubled. For example, in the United States, clean technology's share of investment increased from 1.4% in 2001 to 5.4% in the first six months of 2007. Similarly, clean technology in Europe has enjoyed robust growth rates, and its share of investment there has increased from 1.6% in 2001 to 4.4% in first half of 2007.
Universities, national laboratories, and the commercial sector (both national and international businesses) continue to increase investment in clean technologies for air pollution control, vehicle power, industrial and residential power, environmental remediation, and many other applications.
The study further shows that governments around the globe have identified cleantech as both a key economic driver in the next century and as a social and moral responsibility.
The Kyoto Protocol and similar international agreements are driving governments to enact far-reaching legislation to support and expand the use of green and clean technologies, from automotive engines to electricity production and air pollution. The European Union tends to lead the world in terms of regulatory oversight in this area, but the United States and Japan are also very active. As a rapidly emerging economy, China has a particular need to engage cleantech, but is lagging in terms of governmental oversight, basic R&D and commercial development.
The cleantech industry encompasses a broad range of products and services, from alternative energy generation to wastewater treatment to more resource-efficient industrial processes. Although some of these industries are very different, all share a common thread: they use new, innovative technology to create products and services that compete favourably on price and performance while reducing humankind's impact on the environment.
“Cleantech Current Status and Worldwide Outlook” is available from Report Buyer. For more information see website.
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