|
|
The Clean Technology Market was valued at USD 814.5 Billion in 2023 and is expected to reach USD 2488.7 Billion by 2032, growing at a CAGR of 13.23% from 2024-2032.
The clean technology (cleantech) market is at the forefront of the global transition towards sustainable energy solutions. Investments in renewable energy sources, such as solar and wind, are increasing, with renewables accounting for 28% of the world's electricity generation as of 2022. China, in particular, has made significant strides, with electrification powering 30% of its energy use, surpassing many Western nations.
Innovations in green hydrogen and energy storage are also contributing to the sector's growth. The global hydrogen market was valued at $155 billion in 2022, with green hydrogen accounting for about $4.2 billion. Despite high production costs, advancements in electrolysis and renewable energy are expected to make green hydrogen more competitive by 2030.
As governments and corporations prioritize sustainability, the cleantech market is poised for continued expansion, playing a critical role in achieving global climate goals and fostering economic growth through green innovation.
|
Locked
