Q&A-Who's winning the clean tech race?
This is the seventh and final story in a series on major climate change themes.
By Leonora Walet
Nov 17 - The world's low carbon energy market is expected to treble in a decade, and analysts say major economies including Japan, the United States and China will be jostling for a slice of the market likely to be worth $2.2 trillion by 2020.
Mounting pressure on land, water and energy as a result of growth in emerging economies and world population will add momentum towards a more efficient global economy, says HSBC.
Annualised capital investment in a low carbon market would grow from $460 billion in 2010 to $1.5 trillion in 2020, with the biggest market expansion expected in Asia.
WHO'S WINING THE CLEAN TECH RACE?
By region, the low carbon energy market will grow fastest in China, which will leap-frog the United States but still trail the European Union, which has set itself tough renewable energy, emissions and efficiency targets by 2020. [ID:nLDE68511K]
The European Union has an early lead in the market, although other economies are catching up fast. China and the United States led the world in new clean energy and infrastructure investment in 2009, at $34.6 billion and $18 billion respectively.
Together, they accounted for the top five clean-tech initial public offerings last year. And although Germany is in third place in new clean technology patents worldwide in 2009, the other four countries in the top five are the US, Japan, China and South Korea, according to London-based research group Chatham House. Continued...