INDUSTRY REPORT
Singapore, Global Clean Technology Hub
Globally, sustainable development solutions are gaining traction especially with heightened concerns over climate change and rapid urbanization. Current estimates show that the global market for environmental technologies will grow as countries worldwide seek to be more environmentally conscious and energy-efficient.
Singapore aims to be a global hub where clean technology products are developed, made and exported overseas. The clean technology industry has been identified as a strategic economic growth area for Singapore. The government has allocated about US$453 million to develop five key pillars of the industry: R&D, manpower capabilities, Singapore-based enterprises, an international industry brand and a vibrant industry ecosystem.
Small-medium enterprises (SMEs) constitute more than 80% of the environmental technology industry in Singapore. The enterprises specialise in areas such as water and wastewater treatment, solid waste management, alternative energy and air pollution control. Many of them have developed innovative products and services that are utilised in a wide range of industries including logistics, petrochemical, food manufacturing and construction sectors.