Clean technology refers to the products, tools or processes that seek to reduce environmental pollution, and waste. They are elements that hardly require non-renewable resources. It is a very competitive and productive technology that causes less environmental damage than other types of technologies.
According to Marketwatch, “High delivery and superior performance can be achieved using clean technology. Also, it improves customer profitability, by carrying out cost reduction and increases revenue. Such type of technologies are used in large number of industries, comprising water, manufacturing, energy, transportation and advanced materials. Instances of clean technologies are solar and wind energy, industrial process controls, hybrid electric vehicles and water filtration. Owing to the large number of environmental benefits, clean technology is considered to be an inherent part of a sustainable economy.
Although clean technologies are a worldwide trend, some markets are better prepared for its implementation.
USA
EDC states that “a recent report by BloombergNEF, U.S. investment in clean energy hit US$64.2 billion in 2018, surpassing 2011’s previous high of US$62.3 billion. Almost 80% of Canada’s cleantech exports go to the United States under the CUSMA umbrella. In California, for example, long-standing problems with air quality have led to tight emissions regulations. This is driving cleantech research, development and technology adoption in the electricity and transportation sectors. In addition, the growing stress on California’s water resources is escalating the need for advanced technology for water management and conservation. Canada has expertise in all these areas”.
China
According to EDC, “China’s heavy investment in green solutions—nearly $270 billion USD in 2016—flows from the county’s rapid urbanization and from the need for increased sustainability and reduced carbon emissions. Despite this expenditure, however, a large investment gap remains. This is partly because of falling government subsidies and a growing need for industrial-scale remediation. At a conservative estimate, China’s cleantech needs will exceed $290 billion usd annually over the next four years. This will likely be met not only by the country’s own internal resources, but also by purchases from the rest of the world.
There are opportunities for exports in a variety of sectors:
- air pollution control and air monitoring;
- industrial air pollution reduction;
- power plant emissions reduction;
- solid and hazardous waste management and recycling;
- municipal water and wastewater treatment and facilities development;
- groundwater monitoring,
- pollution prevention and remediation;
- and environmental engineering and consulting.
Other important markets
Lynn Coté states that:
“Mexico requires water resources equipment and services, as well as products and technologies for solid waste management, soil remediation, recycling and air monitoring.
Australia is developing smart grids and advanced energy storage. In Vietnam, water and wastewater treatment, solid waste management and air pollution control are key needs”.
SOURCES
https://www.edc.ca/en/blog/global-markets-for-cleantech.html
https://www.transparencymarketresearch.com/clean-technology-market.html
https://www.statista.com/topics/3001/clean-technology-investments/