Report: Cleantech Investment Robust in U.S., Europe
Report Buyer, an online business intelligence provider for major industry sectors, has added a new report showing that the current global market for cleantech products and services is about $284 billion and is expect to grow to more than $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. 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 percent in 2001 to 5.4 percent 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 percent in 2001 to 4.4 percent in the 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 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 favorably on price and performance while reducing humankind's impact on the environment.