U.S. Advanced Energy Market was $132 Billion in 2011, with 19% Year-Over-Year Growth Estimated for 2012
A report released by Advanced Energy Economy shows that advanced energy was a $1.1 trillion global market in 2011, larger than pharmaceutical manufacturing worldwide. The first-ever analysis of the advanced energy sector also shows that the market in the U.S. represents a significant part of the nation’s economy, with $132 billion in revenue in 2011, and a 19 percent growth rate estimated for 2012, with U.S. revenue rising to $157 billion.
Including direct, indirect, and induced economic activity associated only with the domestic market, advanced energy added an estimated $145 billion to U.S. Gross Domestic Product in 2011, and generated more than $20 billion in federal, state, and local taxes.
“Advanced energy is what happens when energy meets 21st Century technologies,” said Graham Richard, CEO of Advanced Energy Economy, a national business organization. “This report defines precisely, for the first time, the size, breadth, and scope of the advanced energy industry. With a $1 trillion global market and a U.S. industry that is already bigger by revenue than trucking, advanced energy is a significant contributor to the economy today and has greater potential for tomorrow.”
The report was commissioned by the Advanced Energy Economy Institute, AEE’s educational and charitable affiliate, and produced by Pike Research, a part of Navigant’s Energy Practice and a leading market analysis team.
Read more at advancedenergynow.net