欧洲清洁技术行业市场前景及投资研究报告-培训课件外文版2024.4

INDUSTRIES

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MARKETSCleantechinEuropeCHAPTER

01OverviewTotalgreenhousegasemissionsintheEuropeanUnion(EU-27)from1990to2021(inmillionmetrictonsofCO₂equivalent)TotalgreenhousegasemissionsintheEuropeanUnion1990-20215,0004,8004,6004,4004,2004,0003,8003,6003,4003,2003,0003Description:GreenhousegasemissionsintheEuropeanUnionwere3.5billionmetrictonsofcarbondioxideequivalent(MtCO₂e)in2021.ThiswasanincreaseoffivepercentfromtheCOVID-19inducedslumpin2020.Nevertheless,EUGHGemissionsremainedbelowpre-pandemiclevelsin2021.ReadmoreNote(s):EU;1990to2021;ExcludingLULUCFSource(s):EEANetgreenhousegasemissionsreductiontargetsintheEuropeanUnionfrom2020to2050,relativeto1990levelsGHGemissionsreductiontargetsintheEuropeanUnion2020-20500%-20%-40%-60%-80%-100%-120%20202030(previoustarget)203020504Description:In2008,theEuropeanUnionsetthetargetofcutting20percentofnetgreenhousegasemissionsby2020,relativeto1990levels.TheEUovershotthistargetbycuttingGHGemissions34percentbelow1990levelsby2020.

ReadmoreNote(s):EU;2020Source(s):CounciloftheEuropeanUnionInvestmentsinenergytransitionworldwidein2022,byleadingcountry(inbillionU.S.dollars)Globalenergytransitioninvestments2022,byleadingcountryInvestmentinbillionU.S.dollars200

3000100400500600ChinaUnitedStatesGermanyFrance546141552928UnitedKingdomJapan2317IndiaSouthKoreaSpain191716Italy5Description:Chinawasbyfartheleadingcountrybasedonenergytransitioninvestmentsworldwidein2022.China'senergytransition-relevantinvestmentsamountedto546billionU.S.dollarsthatyear.InadistantsecondplacethatyearwastheUnitedStates,withenergytransition-relatedinvestmentsamountingto141billionU.S.dollars.ReadmoreNote(s):Worldwide;2022Source(s):BloombergNEFDistributionofcleanenergytechnologymanufacturingasof2023,byregionShareofcleanenergytechnologiesmanufacturing2023,byregionChinaEuropeanUnionUnitedStatesOther120%100%9%7%8%12%20%8%80%16%60%40%20%0%79%76%64%SolarWindBatteries6Description:Chinaisthegloballeaderincleanenergytechnologymanufacturing.Asof2023,theAsiancountryaccountedfor79percentofsolar,76percentofbatteries,andsome64percentofwindpowertechnologymanufacturingworldwide.Meanwhile,theEuropeanUnioncameinsecondintermsofbatteriesandwindtechnologies,butbyawidemargin.Chinaisalsohometomostofthecleanenergytechnologymanufacturingpipeline.ReadmoreNote(s):Worldwide;2023Source(s):CanaryMedia;IEATradebalanceofcleanenergytechnologiesinEuropein2021,byproductTradebalanceofcleantechinEurope2021,byproductTradebalance-120%Li-ionbatteries-100%-80%-60%-40%-20%0%20%ElectriccarsFuelcells-mobilityElectrolysersSolarPV-modulesWindturbinesHeatpumpsAverage7Description:Europewasanetimporterofcleanenergytechnologiesin2021,withanaveragetradebalanceof-38percentacrosskeytechnologies.SolarPVhadthehighestshareofimportsformeetingdomesticdemand,atroughly-100percent.Meanwhile,Europewasanetexporterofwindturbines.ReadmoreNote(s):Europe;2023Source(s):BloombergNEF;E4tech;IEA;OICA;ThomsonReuters;UnitedNations;USGeologicalSurvey;WorldBureauofMetalStatistics;WorldSteelAssociationCHAPTER

02SegmentsRenewableelectricitymixintheEuropeanUnionfrom2013to2021,byenergysource(interawatthours)RenewableenergymixintheEuropeanUnion2013-2021WindpowerHydraulicpowerBiomassSolarpowerGeothermalOceanenergies1,2001,00080060040020002013201420152016201720182019*202020219Description:Since2017,windpowerstandsasthemainrenewablesourceintheEuropeanUnion'selectricitymix.In2021,electricityfromwindpoweraccountedfor35.8percentoftheEU'srenewablemix.HydropowerwasthemajorrenewablesourceintheEU'selectricitymixintheprioryears.Bycomparison,oceanandgeothermalpowerweretherenewablesourceswiththelowestelectricitygenerationintheregionin2021,with0.5and6.5terawatthours,respectively.

ReadmoreNote(s):EU;2013to2021;*Figuresfor2019onwardsdonotincludetheUnitedKingdom.Thestatisticwasassembledusingseveraleditionsofthereport.

ReadmoreSource(s):EurObserv'ERInstalledwindpowercapacityinEuropefrom2010to2022(inmegawatts)InstalledwindpowercapacityinEurope2010-2022300,000240,624250,000200,000150,000100,00050,0000222,034222,034196,104181,787170,616155,727143,015130,198118,170107,19694,714201184,92020102012201320142015201620172018201920202021202210/statistics/421483/total-wind-power-in-europeIn2022,installedwindcapacityinEuropepeakedat240.6gigawatthours.Intheperiodofconsideration,figuresmorethandoubled,withatrendofcontinuousgrowth.Europeisoneoftheregionswiththelargestinstalledwindpowercapacityworldwide.ReadmoreNote(s):Europe;2010to2022Source(s):IRENANumberofcommercialcarboncaptureandstorage(CCS)facilitiesinEuropeasof2023,bystatusNumberandstatusofcommercialCCSfacilitiesinEurope2023,byregion9080706050403020100OperationalInconstructionEarlydevelopmentAdvanceddevelopment11Description:Europehad119projectsinthecommercialcarboncaptureandstorage(CCS)facilitiespipelinesasof2023.Ofthistotal,115wereinconstructionanddevelopment,whilejustfourwereoperational.CCStechnologiesinvolvecapturingCO₂emittedfromtheburningoffossilfuelsorfromotherindustrialprocessesandsequesteringtheCO₂inundergroundstoragefacilities.ReadmoreNote(s):Europe;2023Source(s):GlobalCCSInstituteQuarterlysalesvolumeofbatteryelectric(BEV)andplug-inhybridelectricvehicles(PHEV)inEuropefromQ12015toQ22023(in1,000s)QuarterlysalesvolumeofelectricvehiclesinEurope2015-20231,0009008007006005004003002001000Q1

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'2312Description:Around757,800electricvehiclesweresoldthroughoutEuropeinthesecondquarterof2023.Thissalesvolumeincludessalesofbatteryelectricvehicles(BEV)andplug-inhybridelectricvehicles(PHEV).Europeisoneoftheleadingmarketsforplug-invehiclesalesworldwide.ReadmoreNote(s):Europe;Q12015toQ22023Source(s):ACEA;Varioussources(NationalAutomobileManufacturers'Associations)CHAPTER

03ManufacturingEuropeanmanufacturinganddeploymentcapacitiesofselectcleantechnologiesfrom2021to2022,bycomponentCleantechmanufacturinganddeploymentcapacitiesinEurope2021-2022,bycomponentTechnology

components

(unit

ofmeasurement

and

year)SolarPVWafers(GW)(2022)Manufacturing

capacityDeployment

capacity1.71.379.221741.441.441.415.415.415.42.9SolarPVCells(GW)(2022)SolarPVModules(GW)(2022)Onshorewindblades(GW)(2021)Onshorewindnacelle(GW)(2021)Onshorewindtower(GW)(2021)Offshorewindblades(GW)(2021)Offshorewindnacelle(GW)(2021)Offshorewindtower(GW)(2021)Batteryelectricvehicles(mnunits)(2021)EVbatterycapacity(GWh)(2021)Heatpumps(mnunits)(2021)11.811.82.96.62.97.22.91.92.360156.42.21.5Electrolyzerscapacity(GW)(2022)3.30.214Description:In2022,theEuropeanUnion(EU-27)installed41.4gigawatts(GW)ofnewsolarPVcapacity.However,EUmanufacturersonlyproduced1.7GWofwafers,1.37GWofcells,and9.22GWofmodulesthatyear.HadallthisoutputbeendeployedintheEU,itwouldhaveonlymetasmallamountofthebloc'ssolardeploymentcapacityneeds.ThisshowsthecurrentlimitedscaleoftheEU'ssolarPVindustry.Bycomparison,manufacturersproduced17GWworthofonshorewindturbinesin2021,[...]

ReadmoreNote(s):EU;2021to2022Source(s):Bruegel;EHPA;HydrogenEurope;IEA;SolarPowerEurope;WindEuropeEuropeansharesofglobalwindtechnologymanufacturingcapacityin2021,bycomponentEurope'sshareofglobalwindtechnologycomponentmanufacturingcapacity2021OnshoreOffshore45%41%40%35%30%25%20%15%10%5%26%18%16%13%12%0%TowerNacelleBlade15Description:Europeaccountedforalmost50percentoftheglobalmanufacturingcapacityforoffshorewindtowers.Bycomparison,itsshareoftheonshorewindtowermanufacturingcapacitywas16percent.TheEuropeanUnionaccountsforapproximately16percentofglobalwindpowertechnologymanufacturing.ReadmoreNote(s):Europe;2021Source(s):IEA;WoodMackenzieEuropeansharesofglobalsolarPVmanufacturingcapacityandproductionin2021,bycomponentEurope'sshareofglobalsolarPVmanufacturingcapacityandproduction2021,bytypeProductionCapacity3.5%3%3.0%2.5%2.0%1.5%2%1%1%1%1.0%0.5%0.0%0%WafersCellsModules16Description:In2021,EuropeaccountedforonlyasmallshareofglobalmanufacturingcapacityandproductionforsolarPVcomponents.Europe'sshareofmanufacturingcapacitywashighestforsolarPVmodules,atthreepercent.

ReadmoreNote(s):Europe;2021Source(s):IEA;PVInfoLinkEuropeansharesofglobalmanufacturingcapacityandproductionforelectriccarsandbatterycomponentsin2021,bytypeEurope'sshareofglobalEVs&batteriesmanufacturingcapacity&production2021ProductionCapacity30%25%20%15%10%5%27%21%8%1%1%0%0%0%Cathode(kt)Anode(kt)Batteries(GWh)Electriccars(millionunits)17Description:Europeaccountedformorethanaquarterofglobalelectriccarproductionin2021.Thatsameyear,Europe'sshareoftheglobalmanufacturingcapacityforEVbatterieswaseightpercent,andonepercentforcathodes.

ReadmoreNote(s):Europe;2021Source(s):BenchmarkMinerals;BloombergNEF;EV-V;IEADistributionoflithium-ionbatteryproductioncapacityplannedinEuropeasofFebruary2023,bylevelsofnon-completionriskBreakdownofbatteryproductioncapacityplansinEurope2023,bynon-completionriskHighrisk16%Lowrisk32%Mediumrisk52%18Description:AsofFebruary2023,thetotalproductioncapacityoflithium-ionbatteriesinEuropewasprojectedtoreach1.8terawatt-hoursby2030.However,approximately70percentoftheseprojectswereatriskofbeingdelayedorcanceled.ThehighestvolumeofbatteryproductionplansatriskwasintheEuropeancountriesofGermanyandHungary.ReadmoreNote(s):Europe;asofFebruary2023Source(s):Transport&Environment;Varioussources(companyreports)CHAPTER

04FinanceAnnualclimatetechstart-upventurecapitalandprivateequityinvestmentinEuropefrom2013to2023(inbillionU.S.dollars)ClimatetechfundinginEurope2013-20233025201525.8121.311.7511.121058.085.094.462.822.51.420.72020132014201520162017201820192020202120222023*20Description:Climatetechstart-upinvestmentinEuropefellbyroughly17percentin2022,to21.3billionU.S.dollars.Thelargestshareofclimatetechinvestmentwenttowardtheenergyenergysector.AsofQ32023,climatetechinvestmentinEuropetotaledjustunder12billionU.S.dollars.ReadmoreNote(s):Europe;2013to2022;*Datafor2023iscurrentthroughthethirdquarteroftheyear.FiguresareforinvestmentflowsacrossprivateequityandventurecapitalSource(s):PitchBook;PwCDistributionofventurecapitalinvestmentsinclimatetechnologystart-upsinEuropefrom2021to2023,bysegmentShareofVCinvestmentsinclimatetechstart-upsinEurope2021-2023,bysegmentEnergyMobilityandtransportGHGdataintelligenceIndustrialsBuiltenvironmentFood,agriculture,andlanduseGHGcapture,removal,andstorage

Financialservices120%100%80%60%40%20%0%202120222023*21Description:Theenergysector'sshareofannualstart-upinvestmentinEuroperemainedatroughly33percent2021to2023.Meanwhile,mobilityandtransport'sshareofinvestmentfellfrom43percentto22percentduringthissameperiod.Incontrast,theindustrialsectorsshareofinvestmentincreasedfromjusteightpercentin2021tomorethan20percentin2023.ReadmoreNote(s):Europe;2021to2023;*Datafor2023iscurrentthroughthethirdquarteroftheyear.Source(s):PitchBook;PwCInvestmentsinthecleantechnologysectorintheUnitedKingdomfrom2017to2023(inbillionBritishpounds)CleantechsectorequityfundraisingintheUnitedKingdom2017-20231098.7587653.9431.792101.560.910.590.52017201820192020202120222023*22Description:Asofmid-2023,thecleantechsectorintheUnitedKingdomhadraised590millionBritishpoundsinequityfundraising.CleantechinvestmentintheUKhasgrownmassivelyinrecentyears,risingfrom0.5millionBritishpoundsin2017toapeakof8.75billionBritishpoundsin2021.Cleantech,orcleantechnology,arenewproductsorservicesthatfocusonimprovingenvironmentalsustainability,suchasrenewableenergy,electricvehicles,recycling,andbatterystorage.

ReadmoreNote(s):UnitedKingdom;2017to2023;*AsofJuly2023ReadmoreSource(s):BeauhurstAnnualventurecapitalinvestmentintoclimatetechcompaniesinLondonfrom2018to2022(inbillionU.S.dollars)ClimatetechVCfundinginLondon2018-20222.52.021.71.51.00.50.01.40.310.222018201920202021202223Description:ClimatetechventurecapitalinvestmentsinLondontotaled1.7billionU.S.dollarsin2022,anincreaseofroughly670percentcomparedwith2018.Londonraisedroughly5.6billionU.S.dollarsinclimatetechVCfundingbetween2018and2022.TheUKcapitalrankedfirstforglobalclimatetechfundinginthefirstquarterof2023,attractingalmostonebillionU.S.dollars.ReadmoreNote(s):UnitedKingdom;2018to2022Source(s):Dealroom.co;London&PartnersAnnualventurecapitalinvestmentintoclimatetechcompaniesinParisfrom2018to2022(inbillionU.S.dollars)ClimatetechVCfundinginParis2018-20223.02.52.01.51.02.410.760.50.00.350.32018201920202021202224Description:ClimatetechventurecapitalinvestmentsinParistotaled2.4billionU.S.dollarsin2022.ParisraisedalmostfivebillionU.S.dollarsinclimatetechVCfundingbetween2018and2022.TheFrenchcapitalrankedamongtheleadinghubsforglobalclimatetechfundinginthefirstquarterof2023.ReadmoreNote(s):France;2018to2022Source(s):Dealroom.co;London&PartnersCHAPTER

05CompaniesDistributionoftop200climatetechstartupsinEuropefrom2021to2022,bysubsectorSectoralbreakdownoftop200climatetechstartupsinEurope2021-2022MobilityAgricultureandfoodBuiltenvironmentBiosphereDataandfinanceStorageCarbonmarketsResourcesCirculareconomyRenewables120%100%80%60%40%20%0%12%5%15%5%16%2%22%3%13%21%10%12%12%5%11%4%8%8%7%11%2021202226Description:Agricultureandfoodaccountedfor21percentofthe200mostpromisingclimatetechcompaniesinEuropein2022,anincreasefromthepreviousyear.Agricultureandfoodclimatetechcompaniesfocusonareassuchasverticalandsmartfarming,plant-basedandcellularmeatandseafood,andlivestock.Energystoragewasthesecondlargestsubsectorin2022,followedbyrenewablesandcarbonmarkets.

ReadmoreNote(s):Europe;2021to2022;Figuresarebasedonthe200mostpromisingClimateTechstartupsfromEurope.Source(s):HolonIQNumberofsolarPVmanufacturingcompaniesintheEuropeanUnionasofJanuary2023,bycomponentNumbersolarPVmanufacturingcompaniesintheEU2023,bycomponentNumberofcompanies2001030405060ModuleResearchcenter5425Tracker17ModuleproductionequipmentInverter1510WaferproductionequipmentCellproductionequipmentCell974Ingotandwafer33SmartfabsolutionPolysilicon2IngotsproductionequipmentPolysiliconproductionequipment1127Description:AsofJanuary2023,therewere54solarmodulemanufacturersintheEuropeanUnionandNorway.Intotal,thesolarmodulemanufacturingcapacityintheregionstoodat9.2gigawatts.TheEuropeanUnionandNorwayalsohadatotalof25researchcentersforsolartechnologies.ReadmoreNote(s):EU;2023;Europeanunion(EU-27)andNorwaySource(s):SolarPowerEuropeWindcapacitydevelopedoroperatedbycompaniesintheEuropeanUnion(EU-27)asof2022(inmegawatts)WindpowercapacitybycompaniesintheEuropeanUnion(EU-27)in2022Windcapacityinmegawatts10,00005,00015,00020,00025,000IberdrolaRenovablesEnelGreenPowerEDPRenewablesENGIE21,48617,56214,73814,504Orsted13,046RWE10,972AccionaEnergyEDFRenewableVattenfall8,7818,4804,32028Description:IberdrolaRenovableswasthemajorwindfarmdeveloperintheEuropeanUnionin2022,with21,486megawattsofwindcapacitydevelopedoroperated.Enelfollowed,with17,562megawattsofwindcapacityinthatsameyear.

ReadmoreNote(s):EU;2022;FiguresincludebothonshoreandoffshorecapacitySource(s):EurObserv'ERNumberofclimatetechstartupandscaleupcompaniesinEuropeandNorthAmericain2022,byselectcountryNumberofemergingclimatetechcompaniesworldwide2022.byselectcountryNumberofcompanies02,0004,0006,0008,00010,00012,00014,00016,000UnitedStatesUnitedKingdomGermanyFrance14,3325,2793,6563,063CanadaNetherlandsItaly2,5042,3262,1581,959SpainSweden1,3021,021918683596SwitzerlandDenmarkNorwayBelgium29Description:ThenumberofclimatetechstartupsandscaleupsinNorthAmericaandEuropereachedalmost45,000in2022.ThelargestnumberofcompanieswerefromtheUnitedStates,at14,300.TheUKandGermanyfollowed,with5,279and3,656companies,respectively.Climatetechfirmsfocusonvariousareasthataddresstheimpactsofglobalwarming,suchasenergy,farmingandfoodproduction,mobility,andGHGremoval.

ReadmoreNote(s):WorldwideSource(s):NetZeroInsights;TechNationFundsraisedbyselectedCleantechcompaniesinEuropeasof2023(inmillionU.S.dollars)CleantechfundinginEurope2023,byselectcompanyFundinginmillionU.S.dollars400

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80002001,0001,2001,4001,6001,8002,0002,200H2GreenSteel(industrialmaterials)(SW)Climeworks(CCUS)(CH)1,976796.21KOMMA5°(buildings)(DE)Innovafeed(animals)(FR)685.1502.5CarbonCleanSolutions(CCUS)(UK)MosaMeat(alternativeproteins)(NL)Tibber(energyservices)(NO)Deepki(buildings)(FR)204.9203.9183.2174.9Bboxx(solar)(UK)128.971.63Twaice(energystorage)(DE)Toogoodtogo(foodwaste)(DK)Electrochaea(hydrogen)(DE)Dance(micromobility)(DE)61.8960.9355.5330Description:Sweden'sH2GreenSteelhadraisedalmosttwobillionU.S.dollarsinfundingasof2023.Thefundsraisedbythecompanywillgotowardbuildingtheworld'sfirstlarge-scalerenewablehydrogen-basedintegratedsteelmillinBoden,northernSweden.AnotherEuropeancleantechcompanyofnoteisClimeworks,aSwiss-baseddirectaircapture(DAC)company.ClimeworkshasagreedtoremovecarbondioxideemissionsfromtheatmosphereonbehalfofcompaniessuchasMicrosoft.

ReadmoreNote(s):Europe;2023Source(s):CleantechGroupCHAPTER

06OutlookTheEuropeanUnion'sshareofcurrentandprojectedinstalledmanufacturingcapacityofcleantechworldwidefrom2022to2030,bytechnologyEU-27'sshareofcleanenergytechmanufacturingcapacity2022-2030,bytechnologyCurrent***Projectpipeline****40%35%30%25%20%15%10%5%36%24%19%18%16%15%11%8%0%BatteriesWind*HeatpumpsElectrolyzers**32Description:TheEuropeanUnionaccountedforapproximately18percentoftheglobalinstalledmanufacturingcapacityforheatpumpsasof2022.Ifallannouncedprojectsmaterialized,thissharewouldincreaseto36percentby2030.Bycomparison,theEU'sshareofwindmanufacturingoperationsisprojectedtoreduceslightlyinthisperiodifallgloballyannouncedprojectscametofruition.ReadmoreNote(s):EU;2022;*Windreferstoonshorewindnacellesinthisanalysis.**Forelectrolyzers,theanalysisonlyincludesprojectsforwhichlocationdatawasavailable.Sharesarebasedonmanufacturingcapacity.***"Current"referstoinstalled[...]

ReadmoreSource(s):IEAEstimatedupfrontinvestmentinnewfactoriesrequiredtomeetdomesticcleanenergymanufacturingdemandinEuropeandtheUnitedStatesin2030(inbillionU.S.dollars)InvestmentneededforlocalcleanenergymanufacturingdemandinEuropeandU.S.2030InvestmentinbillionU.S.dollarsUnitedStates40Europe50010203060708076.790100Lithium-ionbatteriesSolar91.925.14410.110.4MetalsrefiningElectrolyzers0.82.833Description:Europewillneedtoinvestapproximately150billionU.S.dollarsinmanufacturingplantstomeet100percentofitsdomesticcleanenergydemandby2030.Meanwhile,theU.S.willneedtoinvestroughly113billionU.S.dollars.Thelargestshareofinvestmentsinbothregionswouldgotowardlithium-ionbatteries.ReadmoreNote(s):Europe,UnitedStates;2023;FiguresaccountforexistingmanufacturingcapacitiesintheU.S.andEurope.Europeincludesnon-EUcountries.Dataassumesalldemandismetwithdomesticfactories.Source(s):BloombergNEFCleantechnologyinvestmentgapintheEuropeanUnionfrom2023to2030,bytype(inbillioneuros)CleantechinvestmentgapintheEuropeanUnion2023-2030,bytypeInvestmentgapPrivatefunding*EUpublicfunding1009080706050403020100182516255149LowestimatesHighestimates34Description:AccordingtotheEuropeanCommission,theEUwillrequireatleast92billioneurosofinvestmentstomeettheNet-ZeroIndustryAct(NZIA)targetsforsixkeycleantechnologiesovertheperiodof2023to2030.IfEUpublicfundingandprivatefundingestimatesaremet,therewouldstillbeaninvestmentgapofbetween49and51billioneurosoverthespecifiedperiod.ReadmoreNote(s):Europe,EU;2023;Investmentsneededforthefollowingtechnologies:SolarPV,wind,batteries,heatpumps,electrolyzers,CCS;*Basedonexpectedprivatefunding(VC,projectfinance,anddebtat2022level).

ReadmoreSource(s):CleantechforEurope;CleantechGroup;EuropeanCommissionProjectedsupplyofrawmaterialsforbatteryproductioninEuropeby2030,aspercentageofdemandProjectedrawmaterialssupplyforbatteriesasshareofdemandinEuropeby2030SupplyaspercentageofdemandLikelysupply40%Possiblesupply50%0%10%20%30%60%70%80%90%RefinedlithiumMinedlithiumRefinedcobaltRefinednickelMinednickel63%17%31%21%24%16%11%35Description:Approximately80percentoftheEuropeandemandforrefinedlithiumforbatterycellproductionisprojectedtobemetbylocal