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Energy is one of the basic needs of households and industrial enterprises. Energy industry accounts for the largest share in the economic as well as social development of a country. On the basis of source, the energy industry mainly includes coal, oil, natural gas, uranium and nuclear, hydropower, bio-energy, solar, geothermal, wind and marine energy. The energy industry... View more
Energy is one of the basic needs of households and industrial enterprises. Energy industry accounts for the largest share in the economic as well as social development of a country. On the basis of source, the energy industry mainly includes coal, oil, natural gas, uranium and nuclear, hydropower, bio-energy, solar, geothermal, wind and marine energy. The energy industry utilizes available resources to generate easy access to energy (mainly electricity and fuels). The past 15 years have seen extraordinary changes in the consumption of energy resources due to urbanization. Unexpected growth in the renewables market in terms of investment and capacity, particularly in emerging economies is favoring the energy industry.
Rising demand for cleaner energy to reduce environmental impact has led to the adoption of non-conventional energy sources.
Opportunities
The coal, oil and natural gas segments have dominated the energy market in the last few years by contributing a market share 85%. According to the World Energy Council, crude oil has the largest demand and accounts for 32.9% of the global energy consumption. Crude oil prices recorded the largest percentage decline of 73% since 1986. Natural gas is the second largest energy source which accounts for 22% of the overall power generated across the globe. Coal consumption has reduced due to global climate impact and there has been a transition towards cleaner energy sources which hold 40-45% share in the electricity generated across the globe. Asia Pacific is the largest coal consumption market due to bulk availability of resources.
Solar industry accounts for only 1% of the global electricity generated. The price of solar panels decreased by 30% in the international market in 2016. Majority of the installation of solar panels was witnessed in Europe, China, and Africa and Middle East. Due to continuous improvement in the conversion efficiency of photovoltaic (PV) cells, concentrated photovoltaic (CPV) segment is expected to lead to a rapid increase in solar energy efficiency which has recently reached 46% for solar cells. 0.5 GW global commercial marine energy generation capacity is established. The total theoretical wave energy potential is said to be 32 PWh/y, but it is heterogeneous and geographically distributed, technology costs for marine energy are still very high. Uranium and Nuclear production is increased by 40% in last 15 years due to rising demand of alternative resources. Two-third of global nuclear industry volume is in Asia-Pacific region. Hydropower is the leading renewable source for electricity generation, supplying 71% of the global renewable electricity. The global hydropower capacity increased by more than 30% in the last 15 years. Global wind power generation reached around 7% of the total global power generation capacity. The total investment in the global wind sector was US$ 109 billion in 2015. Geothermal global output is estimated to be 75 TWh for heat and 75 TWh for power, but is concentrated on geologic plate boundaries. Bioenergy is the largest renewable energy source and supplies 10% of the global energy supply.
Factors such as the Paris Agreement, rising demand and growth of renewable energy sources compared to non-renewable energy sources, falling global oil market price, decreased coal consumption due to a less energy intensive society, and shale gas boom along with implementation of CCS technologies in North America, growing global electrification, rapidly falling prices of solar and wind power generation are driving the growth of the global energy market.
Energy - Regulatory scenario
Key challenges in global energy industry
Energy – Key Global Conferences
Key global players in Energy
Some of the leading key players in the global energy market are Duke Energy, U.S., Engie, SA, National Grid PLC, NextEra Energy, Inc., EDF SA, Enel Italy, Dominian Resources, Iberdrola SA, Southern Company, Georgia, Hanergy, China, Endesa SA, ExxonMobil, Royal Dutch Shell, LukOil, and Rosneft Oil.View less
Published Date : Sep 2024
Hydrogen has potential to be an important part of a net zero energy future as it can store excess renewable energy and power transportation, buildings and industry with near-zero emissions. Hydrogen energy storage utilizes hydrogen fuel cells or storage facilities to store energy for later use. W... View more
Published Date : Sep 2024
Global energy efficient lighting technology market growth is driven by environmental regulations regarding energy consumption and emission reduction across various countries worldwide. Various energy efficient lighting technologies such as LED, CFL, induction lamps pr... View more
Published Date : Sep 2024
Kinetic tiles are interactive flooring solutions that allow people to have unique sensory experiences through motion and sound. Various properties like flexibility, safety, durability, and affordability have increased their popularity in public spaces like museums, re... View more
Published Date : Aug 2024
The global power grid system market has been witnessing significant growth in recent years driven by the increasing demand for clean and sustainable energy. Power grids play a vital role in efficiently transmitting electricity from generation units such as power plant... View more
Published Date : Aug 2024
The global renewable natural gas market has been witnessing significant growth in recent years. Renewable natural gas (RNG) or biogas is natural gas that is derived from biodegradable material such as food waste, agricultural residue, human waste, or animal manure thr... View more
Published Date : Aug 2024
The global molten salt thermal energy storage market has been gaining significant traction over the past few years, owing to rising awareness about the need for efficient energy storage solutions. Molten salt thermal energy storage is a technology that employs molten ... View more
Published Date : Aug 2024
Global energy storage as a service market growth is driven by rising adoption of renewable energy across both residential and commercial sectors. Energy storage allows consumers to store electricity generated from renewable sources such as solar power and wind for usa... View more
Published Date : Aug 2024
India has been a leader in solar adoption due to its abundant solar resources and supportive policies for promoting renewable energy usage. Solar photovoltaic (PV) technology has emerged as one of the most promising renewable energy sources for catering to India's ene... View more
Published Date : Aug 2024
The global industrial air compressor market has been witnessing steady growth owing to their wide industrial applications. Air compressors help power pneumatic tools for applications ranging from construction to automotive manufacturing. They are also used as a source... View more
Published Date : Aug 2024
The global petroleum liquid feedstock market has been witnessing significant growth over the past few years owing to the growing demand for refined petroleum products across various end-use industries. Petroleum liquid feedstock such as naphtha, gas oil, and others ar... View more
Published Date : Aug 2024
The global alkaline fuel cells market is expected to witness significant growth during the forecast period owing to the growing demand for clean energy solutions and focus toward reducing dependence on fossil fuels. Alkaline fuel cells utilize the chemical energy of o... View more
Published Date : Aug 2024
Turbine drip oil refers to the oil that is used to lubricate turbine engines. It is applied to lubricate rotary mechanical components and prevent wear. Turbine drip oil provides protection from corrosion and guards against rust formation. Rising energy demand worldwid... View more
Published Date : Aug 2024
Hybrid power systems utilize multiple power sources to meet the increased demand for reliable and sustainable energy solutions. They combine two or more methods of power generation such as renewable energy sources like solar and wind along with a diesel generator or b... View more
Published Date : Jul 2024
Cogeneration equipment, also known as combined heat and power (CHP) systems, generate both electricity and useful heat from a single fuel source such as natural gas, biogas, biomass, coal, waste heat, or oil. They are highly efficient and reduce wasteful emissions com... View more
Published Date : Jul 2024
Solar thermal collectors convert sunlight into usable thermal energy through a process of absorption, transfer, and storage of solar heat. These collectors are most commonly used for water and space heating purposes in the residential and commercial sectors. The globa... View more
Published Date : Jul 2024
The ocean power market has been witnessing significant growth in the past decade due to growing awareness about clean and renewable energy sources. Ocean power or marine power is the energy that is harnessed from ocean waves, tides, salinity, and ocean thermal energy ... View more
Published Date : Jul 2024
Nuclear waste management refers to the handling, treatment, and disposal of radioactive materials generated from nuclear power plants, research laboratories, medical usage, and other industrial activities. With the growing adoption of nuclear energy across the world a... View more
Published Date : Jul 2024
The global gas treatment market is estimated to be valued at USD 5.21 Bn in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031. Gas treatment involves removing contaminants and impurities from gas streams in industries such ... View more
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