As the countries all over the world strive to achieve improved technology in all domains, a report from Frost & Sullivan claims that emphasis is also being given to a resource-efficient and green economy through the use of these technologies.
With a growth potential of 45 percent by 2015, the global market value of traditional environmental goods and services, renewable energy and emerging low-carbon activities was estimated at $7.77 billion in 2007-2008, according to a new analysis from Frost & Sullivan (News - Alert), "Benchmarking Country Initiatives on Environment in Asia Pacific." Also, many companies are recognizing that the use of green technology will help them reduce their carbon footprint and minimize waste with the rise in energy costs and escalating threat of global warming, the report stated.
“The number of green energy and climate-friendly projects is increasing rapidly in both the public and private sectors in the Asia Pacific," said Frost & Sullivan Consultant Chukiat Wongtaveerat. "Moreover, high-initiative countries have allocated substantial funds for green investment themes, which include boosting green infrastructure, using low-carbon and renewable power, ensuring energy efficiency, as well as controlling water usage and waste generation.”
Many countries in the Asia Pacific have stepped up initiatives to preserve the environment over the last decade, the report claimed. While emerging economies such as China and India intend to sustain their current pace of public and private investment in all areas of the environment sector, Japan, South Korea and Australia are at the forefront of this drive, the report stated.
Recently, the company released a new analysis for Asia Pacific Secondary Lithium Battery Market, which found that the market earned revenues of over $1.8 billion in 2009 and estimates this to reach $2.4 billion in 2016. Although the prospects for the market look bright, some aspects are proving to be growth bottlenecks. Li-ion batteries have a higher manufacturing cost compared to other batteries such as NiCd, restraining their uptake, the company stated. Raju Shanbhag is a contributing editor for TMCnet. To read more of Raju’s articles, please visit his columnist page.
Edited by Tammy Wolf