(Yicai Global) April 19 -- China could become the world’s largest market for clean air technology globally by 2030 with an overall value of USD3.2 trillion (CNY20 trillion), driven by the government’s efforts to control the country’s smog issues, says a new report.
The country’s new energy vehicle market will exceed CNY14 trillion by 2030, while mobile source emission controls and environmental monitoring will represent CNY2 trillion and CNY130 billion markets, respectively, states the China's Clean Air Market Outlook 2030 report from the Bluetech Clean Air Alliance.
The industry alliance, based in Beijing's Zhongguancun Science Park, known as China's Silicon Valley, brings together experts from Beijing Normal University, Beihang University and the Asia-Pacific Consulting Center for Environment and Development.
China's vast clean air technology market will attract major global technology players, while many homegrown firms in the sector could also expand into international markets in the future, said Xie Hongxing, director of Bluetech Clean Air Alliance.
The report's outlook is based on a series of in-depth basic research work, Prof. Mao Xianqiang from Beijing Normal University’s Environment School said. The report team formed an energy-environment-economy (3E) model to carry out simulation analysis, taking into account the short-term, and medium- and long-term impacts of China’s macroeconomic situation, state environmental protection policies and regulations, and state industrial policy and planning.
Editor: William Clegg