International Energy Agency Predicts Record Growth in the Clean Energy Technologies Market

07 May 2025

According to the International Energy Agency's (IEA) Energy Technology Perspectives 2024 (ETP 2024) report, the global clean energy technologies market is expected to gain great momentum in the next 10 years and reach a volume of 2 trillion dollars.

The global clean energy technologies market is expected to gain great momentum in the next 10 years and reach a volume of 2 trillion dollars. The current market value of $700 billion is expected to triple with the spread of technologies such as solar, wind energy, electric vehicles, batteries and heat pumps. This size approaches the global dimensions of the crude oil market, signaling a transformation in the energy sector.

According to the Energy Technology Perspectives 2024 (ETP 2024) report of the International Energy Agency (IEA), the rapidly developing market of clean energy technologies will create new opportunities in the field of production and trade in the coming period. The report states that global clean energy technologies trade will reach 570 billion dollars in 10 years, which will even exceed the volume of global natural gas trade.

In his statement regarding these developments, IEA President Fatih Birol pointed out that energy, industrial and trade policies are intertwined and create a critical agenda for countries. Birol said, "The clean energy technologies market offers a great economic opportunity, but this process confronts governments with complex decisions. It will be critical to consider competition, innovation and cost advantages as we move forward with energy and climate targets." He said.

Countries such as China, the USA, the European Union (EU) and India maintain their strong positions in the field of clean energy technologies. China is expected to continue to play a leading role in global production and trade, with export figures expected to reach 340 billion dollars by 2035. On the other hand, incentive policies in the USA, the EU and India also fuel global competition in this field.

Another emphasis in the report was that clean energy technologies should benefit not only some economies but also a wider segment.

Source: Clean Energy

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