Global clean-tech industries are growing in spite of fiscal challenges such as bankruptcies, consolidation and lingering effects of the financial crisis, a report released by global advisory services company EY suggests.
Gil Forer, EY’s Global Cleantech Leader, said there has been a rise in the performance of the 424 pure-play (publically traded) companies around the world, CleanTechnica reported, with growth in the Asia-Pacific region fuelling these increases.
Market capitalisation experienced an annual gain of 18pc to US$170bn, and the number of jobs in the clean-tech industry rose 12pc from 2012 to 512,500. China is the primary source of this growth. The country is home to more than half of those jobs and has added high numbers to its solar and wind industry.
The Asia-Pacific region has emerged as a leading market. The region bumped up the number of public-private partnership (PPP) companies by 16pc to 177. The clean-tech sector created 68 new PPP companies and shed 63 last year, with Europe, the Middle East, and Africa contracting by 8pc to 135 companies.
China and the US retained their grip in front, with 64 and 70 companies, respectively.
“The clean-tech sector globally has shifted to growth,” CleanTechnica quoted Foer as having said. “Resource scarcity, energy security concerns, population growth and increasing consumption by expanding middle classes in emerging markets, will continue to drive this clean-tech market growth.”
Wind turbine image via Shutterstock