85% of Canadian cleantech companies require no government subsidies, are globally competitive, and are situated in what promises to be a $3 trillion industry by 2020, says the Canadian Clean Technology Coalition.
"Canadian clean technology companies have proven their competitiveness by posting a compound annual growth rate (CAGR) of 19% during the recession, and they grew by 56% in 2010", says Céline Bak, co-founder of the Canadian Clean Technology Coalition. "Canada’s clean technology industry already employs 44,000, similar to Canadian employment in mining, and generates half of its sales from exports. We have the potential to build a $60 billion industry by 2020."
Canada has about 700 cleantech companies, employing about 62 people each. If the 19% CAGR growth rate continues, it will reach $61.4 billion in revenue by 2020, about the size of Canada’s automotive industry, will employing 126,000 people.
In 2010, cleantech industry revenues totaled $9 billion. 86% of that was generated by Canadian-owned cleantech companies and 14% of that came from Canadian- based foreign subsidiaries.
The 2011 Canadian Clean Technology Industry Report, supported by the Canadian Clean Technology Coalition and authored by Analytica Advisors, is a comprehensive study of the industry’s revenue and employment, and covers nine industry sectors: Biofuels and Bioenergy, Energy Efficiency, Energy Infrastructure, Industrial Processes, Power Generation, Recycling and Recovery, Remediation and Soil Treatment and Water and Wastewater.
Here’s the report: