The German government commissioned research study into the global clean technology sector, and found that it is currently worth more than €2 trillion a year, and is predicted to grow by more than 100% by the mid-2020s.
The report stated that the clean technology market has "grown at an average of almost 12 per cent a year since 2007, and predicts it will continue to accelerate over the coming years." It also suggests that this growth will occur regardless of the state of the global economy.
Torsten Henzelmann, head of the Civil Economics, Energy & Infrastructure Competence Centre at Roland Berger Strategy Consultants, and author of the study, said that "the economic and financial crisis has not stopped the worldwide expansion of the green tech industry. On the contrary, the worldwide market volume has now overshot the €2tr mark, thus exceeding our forecasts from 2009."
He suggests that due to the on-going financial turmoil growth "will be a bit slower than in previous years, but by 2025 we expect the worldwide market to double in value to €4.4tr."
Not only will the clean technology sector grow, but it is expected to stimulate other sectors as well. As Ralph Büchele, a co-author of the report, confirmed, this is because "more and more companies are finding that using green tech is a way to stand out among their international competitors. Better efficiency regarding energy and raw materials is increasingly becoming a strategic advantage in international competition - that goes for all sectors of the economy in general."
By. James Burgess of Oilprice.com
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also… More