Industry Market Trends

Why is Canada's Cleantech Industry Overtaking Aerospace?

January 4, 2013

A recent report shows that Canada's cleantech industry is poised to surpass its aerospace manufacturing industry over the next few years. One wonders if this is more a reflection on a robust cleantech industry or a struggling aerospace industry -- or both.
Globally the clean technology industry overall was estimated to be $1 trillion in 2010, and one generally-held estimate predicts it will grow to $3 trillion by 2020 -- Roland Berger Strategy Consultants, a global strategic consulting firm, has estimated the global cleantech market will hit $5.7 trillion by 2025. The report, “2013 Canadian Clean Technology Industry Report,” produced by Analytica Advisors, finds that even in the go-go sector of clean technology, Canada’s galloping along: “The industry grew at a 19 percent CAGR from 2008 to 2010, outpacing global market growth rates. This strong growth resulted in a $9 billion industry in 2010.” Read More