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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 : Feb 2024
Global green energy market has witnessed significant growth in 2021 recent years and is expected to grow steadily during the forecast period from 2024 to 2031. Factors such as rising environmental concerns due to the increasing effects of climate change, supportive go... View more
Published Date : Feb 2024
Liquefied natural gas (LNG) as a bunker fuel refers to the use of LNG to power ships. LNG is a natural gas that has been cooled to liquid form for ease and safety in non-pressurized storage or transport. As a bunker fuel, LNG offers various benefits compared to conven... View more
Published Date : Feb 2024
Drilling bits play a crucial role in extracting oil and natural gas from reservoirs deep underground. They are designed to drill through various types of rock formations to reach hydrocarbon deposits. Advances in material science and drilling technologies have led to ... View more
Published Date : Feb 2024
Camping power banks are portable and rechargeable devices that serve as a convenient source of power for campers. These power banks can store energy and supply it to electronic devices when needed, thus ensuring a continuous power supply even in remote camping locatio... View more
Published Date : Feb 2024
The global energy landscape is continuously evolving, with a growing demand for efficient and sustainable power generation solutions. In this context, single shaft turbines have emerged as an innovative technology that offer significant advantages in terms of performa... View more
Published Date : Feb 2024
Nickel metal hydride (NiMH) batteries have gained significant popularity in recent years as a power source for various applications. These rechargeable batteries are known for their high energy density, long cycle life, and environmental friendliness. NiMH batteries o... View more
Published Date : Feb 2024
Wave energy has significant potential as a renewable energy resource. As concerns over carbon emissions and climate change continue to rise, wave energy converters that can harness the predictable and vast power of ocean waves present an attractive opportunity. Wave e... View more
Published Date : Jan 2024
Biofuel is a type of fuel that is derived from biomass, which can include plant or algae material, or animal waste. It is considered a renewable energy source, unlike fossil fuels such as petroleum, coal, and natural gas, as the feedstock material can be readily reple... View more
Published Date : Jan 2024
Absorbent Glass Mat (AGM) batteries have become increasingly popular in various industries due to their superior performance and versatility. These batteries are a type of valve-regulated lead-acid (VRLA) battery, which means they are maintenance-free and can be used ... View more
Published Date : Jan 2024
Solar collector tubes are an essential component of solar thermal energy systems, which are increasingly being adopted as an alternative to traditional energy sources. These tubes are designed to absorb sunlight and convert it into usable thermal energy, which can be ... View more
Published Date : Jan 2024
Hybrid cell technology has emerged as a revolution in the fields of energy storage and power generation. With the increasing demand for clean and sustainable energy solutions, hybrid cells have gained significant attention and have become a key focus for research and ... View more
Published Date : Jan 2024
PV inverter market has been witnessing significant growth over the past few years owing to the rising adoption of solar power worldwide. Solar PV inverters play a vital role in converting the direct current (DC) produced by solar panels into alternative current (AC) t... View more
Published Date : Jan 2024
A floating solar panel is a solar power generation system that floats on the surface of water sucas a lake, reservoir, quarry pond, or estuary. It helps generate solar power without consuming valuable land space and also offers a variety of environmental benefits. Con... View more
Published Date : Dec 2023
Industrial energy efficiency refers to the practice of optimizing energy consumption in industrial processes to reduce energy waste and increase operational efficiency. As energy costs continue to rise and environmental concerns intensify, industries around the world ... View more
Published Date : Dec 2023
A captive power plant refers to a power generation unit that is dedicated to supplying electricity to a specific industrial or commercial facility. These plants are usually located near or within the facility they serve, allowing for more efficient power distribution ... View more
Published Date : Dec 2023
A home solar system typically consists of solar panels, an inverter, mounting equipment, and a battery storage system optional. These components work together to capture the sun's energy and convert it into usable electricity. The excess electricity generated by the s... View more
Published Date : Dec 2023
Combined heat and power (CHP) is a highly efficient method of generating electricity and heat, simultaneously from a single fuel source. CHP is also known as cogeneration are the systems that are designed to capture and utilize the waste heat produced during electrici... View more
Published Date : Dec 2023
Waste and biomass valorization describes the technological process of turning waste materials and biomass resources into valuable products including fuels, chemicals, and materials. In order to contribute to the circular economy and reduce negative environmental effec... View more
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