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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 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

  • Paris Agreement on International climate policy
  • The Energy Policy Act (EPA), U.S.A.
  • National Emissions Standards for Hazardous Air Pollutants (NESHAP)
  • Resource Conservation and Recovery Act (RCRA)
  • Federal Energy Regulation Commission (FERC)
  • Commodity Future Trading Commission (CFTC)
  • The Energy Regulatory Commission (ERC) issued the first draft of the “Licensing Rules for Distributed Energy Resources (DER) and Microgrid Systems“ (DER Licensing Rules for brevity) as Addendum to the 2014 COC Revised Rules for the issuance of Certificate of Compliance (COCs) for energy generation, qualified end-users and entities with self-generation facilities on 07 June 2017

Key challenges in global energy industry

  • Despite some notable progress, the rate of improvements towards cleaner energy is far slower than required to meet emissions targets. Increased commodity and energy price uncertainty, that results in higher risk, and larger investments with long lead times are less appealing.
  • Without diversification and review of business models, national and internal oil and gas companies could struggle in the long term. Incentive-assisted renewable energy companies have created a boom in certain countries and regions.
  • Rare earth elements create new dependencies in the value chain and could represent possible future barriers to growth.
  • There is a significant need to balance other aspects of the Energy Trilemma such as environmental considerations, including increased resilience and security of supply. This is particularly important for long-term planning in short-term power operations, with the lack and lag of new, expanded, upgraded and smart infrastructure offering the potential to hinder new energy developments.
  • Increasing use of natural gas combined with lesser use of coal would lead to an increase in carbon dioxide emissions from natural gas.
  • The renewable energy market is struggling to maintain moderate energy cost due to high production and technology expenditure.

Energy – Key Global Conferences

  • International Conference on Renewable Energy and Resources, July 24-25, 2017 (10 Plenary Forums - 1Event) Vancouver, British Columbia, Canada
  • 2017 International Conference on Power and Energy Engineering (PEENG 2017), 13th September 2017, Ottawa, Canada
  • The 7th International Conference on Power and Energy Systems (ICPES 2017), 1st November 2017, Toronto, Canada
  • International Conference on New Energy and Applications (ICNEA 2017)--Ei Compendex and Scopus, 2nd November 2017, Tokyo, Japan
  • International Conference on Advanced Energy Materials (ICAEM 2017)--SCOPUS, EI Compendex, 17th November 2017, Singapore
  • 6th International Conference on Power Science and Engineering (ICPSE 2017) - IEEE, Ei Compendex and Scopus, 2nd December 2017, St. Petersburg, Russian Federation
  • 4th International Conference on Nanoscience and Nanotechnology (ICNSNT-2017)14th December 2017, Colombo, Sri Lanka

 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.

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Energy Published Insights

Coherent Market Insights

Pumped Hydro Storage Market, By Type (Open-Loop, Closed-Loop), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published Date : Nov 2022

The global pumped hydro storage market size was valued at USD 330.00 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 7.18% from 2022 to 2030. The market for pumped hydro storage systems is growing at a fast rate. The increasing de... View more

Coherent Market Insights

Gas Turbine MRO Market In The Power Sector, By Service Type (Maintenance, Repair, Overhaul), By Provider Type (OEM, Independent Service Providers, In-house), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published Date : Aug 2022

The global Gas Turbine MRO Market In The Power Sector size was valued at USD 11.56 Billion  in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 6.70% from 2022 to 2030. The global gas turbine MRO market in the power sector industry is wi... View more

Coherent Market Insights

Hydropower Market, By Size (Large Hydropower (Scope: >100 MW), Small Hydropower (Scope: <10 MW), Other Sizes (Scope: 10-100 MW)), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published Date : Aug 2022

Hydropower, also known as water power, is an energy source that utilizes fast-running, falling water to generate electricity. It uses two types of energy - gravitational potential and kinetic energy. Hydropower is a sustainable form of energy production. It works by h... View more

Coherent Market Insights

Nuclear Power Market, By Application (Energy, Defense, Others), By Reactor Type (Pressurized Water Reactor and Pressurized Heavy Water Reactor, Boiling Water Reactor, High-temperature Gas-cooled Reactor, Liquid Metal Fast, Breeder Reactor, Other Reactor Types), By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published Date : Jun 2022

The first nuclear power plant was constructed in 1951. The world's installed nuclear capacity was 100 GW by the late 1970s. Then, it continued to grow rapidly during the 1980s. By the 1990s, nuclear power plants had reached 300 GW, but public opposition and the Three ... View more

Coherent Market Insights

Asia Pacific SURF Market, by Product Type (Subsea Umbilicals, Flowlines, and Risers), by Water Depth (Shallow Water, Deep Water, and Ultra-deep Water), and by Country (India, China, Malaysia, Indonesia, Vietnam, Thailand, Australia, and Rest of Asia Pacific) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published Date : Apr 2022

SURF (subsea umbilicals, risers, and flowlines) helps connect the surface systems and subsea production. In line with this objective, SURF can be divided into two parts: umbilicals, and risers and flowlines. Newer fields as the production of oil & gas are located ... View more

Coherent Market Insights

Drill Bits for Oil & Gas Industry Application Market, By Product (Roller cone bits, Milled-tooth bits, Tungsten carbide inserts (insert bits), Fixed cutter bits, Polycrystalline diamond bits (PDC) and Natural diamond bits), By Region (North America, Europe, Asia-PacificRoW) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published Date : Dec 2021

Drill bits are used in the oil &gas industry in the drilling application to create holes or crush or cut rocks in order to extract hydrocarbon resources, by applying hydraulic pressure and high-frequency vibration. Drill bits are basically produced from Tungsten, ... View more

Coherent Market Insights

Gas Diffusion Layer Market, by Type (Carbon Paper Type, Carbon Cloth Type, and Other (Metal Substrates)), by Application (Polymer Electrolyte Fuel Cells, Hydrogen /Oxygen Air Fuel Cells, Direct Methanol Fuel Cells, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published Date : Dec 2021

The gas diffusion layers (GDL) are a fibrous porous media with two primary functions: uniform distribution of reactive gases on the electrode surfaces and electron transfer to or from the external electrical circuit. They are made of thin carbon fibers, a porous and h... View more

Coherent Market Insights

LNG as a Bunker Fuel Market, by Vessel Type (Offshore Tugs & Services, Ferries, Oil & Chemical Tankers, Container Ships, Gas Carriers, General Cargo, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published Date : Dec 2021

LNG bunkering is the practice of providing liquefied natural gas fuel to a ship for its own consumption. Ship owners have turned to liquefied natural gas (LNG) as the bunker fuel of choice to curb air pollution from shipping, since it emits significantly fewer air pol... View more

Coherent Market Insights

Flue Gas Desulfurization (FGD) Market, by Type (Wet FGD Systems, Spray Dry FGD System, and Dry FGD System), by End Use Industry (Power Plants, Cement, Metal Processing & Mining, and Chemicals), and by Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

Published Date : Nov 2022

The flue-gas desulfurization (FGD) process employs a number of technologies to remove Sulphur dioxide (SO2) from coal-fired power plant flue gasses. The exhaust – flue gases – from fossil fuel-burning plants, particularly coal-burning plants, posed an envi... View more

Coherent Market Insights

Green Energy Market, By Product Type (Solar photovoltaic, Wind energy, Hydroelectric power, Biofuels, & Geothermal energy), By Application (Residential, Commercial, & Industrial) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published Date : Sep 2021

Green energy is renewable energy that is commercially viable and is used to generate energy around the globe. Green energy extract energy from natural sources such as tides, solar photovoltaic, sun, and wind. Green energy is widely used across residential, commercial,... View more

Coherent Market Insights

Coal Fired Power Generation Market, By Technology (Pulverized Coal Systems, Cyclone Furnaces, Others), By Application (Residential, Commercial), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date : Aug 2020

Coal-fired power generation is a thermal power station plant that burns coal to generate electricity. Gasification, pulverized coal firing, coal cyclone furnace, and fluidized bed combustion are some of the technologies used in the generation of power. Coal is a&... View more

Coherent Market Insights

Bunker Fuel Market, by Fuel Grade (IPO 380, IPO 180, IPO Others, MDO/MGO), by Vessel Type (Tankers, Containers, Bulk & General Cargo, Others), by Seller (Major Oil Companies, Leading Independent Distributors, Small Independent Distributors), by Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published Date : Oct 2022

Bunker fuel is meant to be used by the shipping industry for fueling its marine fleet. Bunker fuel is classified into distillates and residual fuel oils. In general term, bunker fuel is any fuel that is burned in boiler or furnace for the generation of power in t... View more

Coherent Market Insights

Gypsum Mining Market, by Product Type (Anhydrite Ore Deposits, Fibrous Gypsum Deposits, Common Gypsum Deposits, and Others), by Application (Construction, Agriculture, Cement Manufacturing, and Others), and by Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Published Date : Nov 2022

Gypsum is a kind of mineral that is found in crystals and masses known as gypsum rock. Gypsum is a very soft mineral and can commonly be associated with sulfur deposits and rock salt. It can be processed and used as industrial or building plaster, in cement manuf... View more

Coherent Market Insights

Petroleum Coke (Petcoke) Market, by Product Type (Fuel Grade Coke and Calcined Coke), by End-use (Calcining Industry, Power Plants, Cement Kilns, Blast Furnaces, and Others), by Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published Date : Oct 2022

Petroleum coke is a by-product of crude oil and is look like solid rock materials. Petroleum coke is basically used across various industries as an energy source. Power generation is key end user of the petcoke and other prominent users of petroleum coke are metal, co... View more

Coherent Market Insights

Flare Gas Recovery Systems Market, by Capacity (Small, Medium, Large, Very Large), by Application (Petroleum Refineries, Chemical Plants, Gas Treatment and NGL Plants, FPSO Platforms, Storage Tank Vent Recovery), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published Date : Sep 2022

Flare gas recovery systems are used across the refinery industry for safety and maintenance reasons as the release of unburned gas leads to increase in carbon emissions. In order to curb these emission flare systems are installed across refinery as they efficiently pr... View more

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