There’s a rise in Asia’s green technology and it opened more opportunities for new markets in APAC. Among Asian countries, China and India are the biggest players in the APAC Greentech market.

FREMONT, CA: The Asia Pacific has already surmounted the critical challenges of global energy consumption. Therefore, it is determined to focus on its potential for sustainable energy development. APAC is at the top among the other regions of the world concerning renewable energy investment, despite the global pandemic that struck in the last few years. The demand for Greentech is increasing faster in APAC as compared to other regions and consequently, the APAC market will be the biggest hub for renewable energy development and investment in the coming decade. The zone has set its target for the integration of new technologies in developing countries such as India, China, and Singapore. Further, it will foster strong economic growth and low penetration of renewables, with an expected market growth rate of 24.6% CAGR between 2021-2027.

Major players in Greentech Market:

Hitherto, India and China are the two major players in the APAC Greentech market. But on the prospect of renewable energy projects, Japan has shown a superior renewable energy policy that has enabled the country to achieve potential growth. Moreover, there is an improvement in the Association of Southeast Asian Nations or the ASEAN’s governance and development in the economy along with Singapore’s becoming the centre for Southeast Asia CleanTech funds. The governments in the APAC have undertaken several missions such as green initiatives, zero-carbon, and investment for the growth of new Greentech energy businesses such as smart grids, green buildings, solar and wind, and green vehicles.

Asia-Pacific has also attracted investors’ attention, with numerous CleanTech funds entering its market last year. As a consequence, the region’s investment in renewable energy generation is expected to exceed spending on fossil energy by 2030, with investment expected to double to 1.3 trillion USD.