Energy is one of the basic needs of households and industrial enterprises. Energy industry accounts for largest share in an economic as well as social development of any country. On the basis of source, energy industry mainly includes coal, oil, natural gas, uranium and nuclear, hydropower, bio-energy, solar, geothermal, wind and marine energy. Energy industry utilizes available resources to generate easy to accessform of energy mainly electricity and fuels. Cater to growing needs of customers coupled with rapid urbanization is increasing energy demand across the world. The past 15 years have seen extraordinary change in the consumption of energy resources. Unexpected high growth in the renewables market, in terms of investment, new capacity and high growth rates in developing countries have changed the landscape for the energy sector.
Rising demand for cleaner energy to reduce environmental impact is shifting attention towards use of non-conventional energy sources over conventional energy sources.
Coal, Oil and Natural gas industry dominated other energy industries in last few years as they are contributing more than85% in primary energy producers. According to world energy council, crude oil is the world’s leading fuel, accounting for 32.9% of global energy consumption. Crude oil prices recorded the largest percentage decline of 73% since 1986.Natural Gas is the second largest energy source which contributes 22% ofpower generation across the globe. Though coal consumption is reduced due to global climate impact and transition towards clean energy sources, it holds 40-45% share in global electricity generation. Asia-Pacific is the largest coal consumption market due to bulk availability of resources.
Solar industry delivers only 1% in global electricity generation. The price of solar panels decrease by 30% in the international market in 2016. Major installation of solar panel has been done in the Europe, China followed by Africa and Middle East region. Continuous improvement in the conversion efficiency of photovoltaic (PV) cells, concentrated photovoltaic (CPV) may hold the key in enabling rapid increases in solar energy efficiency, which has recently reached up to 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 globally, supplying 71% of all renewable electricity. The global hydropower capacity increased by more than 30% in last 15 years. Global wind power generation reached around 7% of total global power generation capacity and total investment in the global wind sector was US$109 billion in 2015.Geothermal global output is estimated to be 75 TWh for heat and 75 TWh for power, but is concentrated on geologic plate boundaries. Bioenergy is the largest renewable energy source with 14% out of 18% renewables in the energy mix and supplies 10% of global energy supply.
Parris agreement to tackle climate changes, rising demand and growth of renewable energy sources over non-renewable energy sources, falling global oil market price, decreased coal consumption due to less energy intensive society, shale gas boom along with implementation of CCS technologies in North America, growing global electrification, rapidly fallingprices for solar and wind power generation are major key drivers in shaping and supply of energy usage in global energy market.
Energy - Regulatory scenario
Key challenges in global energy industry
Energy – Key Global Conferences
Key global players in Energy
Some of the leading key players in global energy market are Duke Energy, U.S., Engie, SA, National Grid PLC, NextEra Energy, Inc., EDF SA, Enel Italy, Dominian Resources, Iberdrola SA, Southern Company, Georgia, Hanergy, China, Endesa SA, ExxonMobil, Royal Dutch Shell, LukOil, Rosneft Oil.
A battery management system (BMS) is an electronic system that governs a rechargeable battery such as battery pack or cell. This is done by supervising its state, preventing it from operating outside its safe operating area, reporting data, calculating secondary data,... Read more
Geosteering Market - Insights Global geosteering market was valued at US$ 7,776.4 Mn in 2018, increasing from US$ 7,218.7 Mn in 2017. By 2027, the market is projected to reach US$ 17,071.2 Mn, exhibiting a CA... Read more
Global Nuclear Decommissioning Services Market – Insights Nuclear decommissioning is the process in which a nuclear facility is dismantled so that it no longer requires to be protected fr... Read more
SURF (subsea umbilicals, risers and flowlines) offers connection between subsea production and surface systems. Umbilicals provide a vital link between subsea production system, processing system, and the surface and have no contact with the produced fluids. Flowline ... Read more
Global Microbial Enhanced Oil Recovery Market – Insights Microbial enhanced oil recovery is a tertiary oil recovery technique used for additional or improve recovery of trapped oil from t... Read more
Global Offshore Wind Energy Market - Insights Offshore wind energy is the technology used to generate electricity by wind using wind turbines constructed near the coastline of oceans and lakes.... Read more
Global Wireline Services Market - Insights Wireline services, also known as electrical cabling technology, is used in the oil and gas industry for reservoir evaluation, pipe recovery activities, and intervent... Read more
Global Diesel Exhaust Fluid Market– Insights Diesel exhaust fluid (DEF) is an odorless, colorless, and non-flammable mixture of 32.5% urea and 67.5% deionized water. The standardized AUS 32 form is used... Read more
Global LNG Bunkering - Insights Bunkering is the process of transferring fuel to a vessel or a facility in the form of conventional marine fuels or LNG. The density of LNG is around half that of heavy fuel oi... Read more
Global Oilfield Drill Bit Market - Insights Drill bits are essential tools that are utilized in the oil and gas industry to drill cylindrical boreholes for E&P activities in the production of crude and ga... Read more
Drilling Waste Management - Insights Drilling waste management is a constituent of successful operation activities related to E&P operations, which is essential for effective drilling and production opera... Read more
Liquefied Natural Gas – Insights Liquefied natural gas is an odorless and colorless liquid, which is formed by cooling natural gas to -1620C. The liquefaction process shrinks the volume of ga... Read more
Global Offshore Wind Market – Insights Offshore wind provides the electrical energy on the continental shelf to harvest the wind energy. Wind speed is generally stronger and steady at the offshores than... Read more
Global Power Rental Market Insights Power rental plants are required for temporary supply of power for industries due to the supply-demand gap in electricity. To avoid financial losses, industries requires a ... Read more
Global Offshore Decommissioning Market – Insights Offshore decommissioning includes the safe plugging of the matured and nonproductive wells in the earth’s surface together with the... Read more
Advanced Energy Storage Systems– Insights Advanced Energy Storage (AES) systems involve the capture of the required energy which is produced at one time and can be used later. Energy is stored via a var... Read more
Global Bio Jet Fuel Market – Insights Biomass based aviation fuels are considered as a promising alternative for conventional fossil fuel based aviation fuels. Bio jet fuel is made from v... Read more