Market research company SBI has published a report highlighted 6 green technologies predicted to “dominate” the field over the next five years.
Below are some excerpts from the report:
- Electric Vehicles: Worldwide hybrid electric vehicle sales predicted to double by 2014. Exponential growth predicted in Europe, Australia and South Korea. New market opportunities in India & China.
- Enhanced Oil Recovery: Practice can improve oil producing methods by 70 – 90%. Oil viscosity is improved through steam, gas or injection of chemicals.
- Green Building: Use of recycled materials, sustainable sources, efficient building insulation and improved construction techniques contribute to sector growth. Predicted to grow to $580bn by 2015, a 21% combined annual growth rate.
- Offshore Wind: Installations expected at higher rate than land-based turbines. U.K. in particular may more than double offshore market value to $5bn by 2015.
- Smart Grid: Growth in grid infrastructure, information and communications technology and software and applications slated to grow as more renewables come online. Predicted growth to $171bn by 2014.
- Solar: Concentrated solar power (CSP) market to jumpstart by 2012. This fastest-growing segment of solar may grow to $3bn by 2014 from $700,000 in 2010, representing a 42% annual growth rate over the time period.