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.
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.
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
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
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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
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
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
Bunker fuel is meant to be used by the shipping industry for fueling its marine fleet. Fuel oil is mostly used as a bunker oil in shipping industry. Bunker fuel is classified into distillates and residual fuel oils. In general term bunker fuel is any fuel that is... View more
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 meta... View more
Biomass is defined as the biologically degradable fraction of products, residues, and wastes from remains of animals and plants, and biological remains of household and industrial waste. Biomass is a ... View more
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 efficient... View more
Market Overview A vapor recovery unit (VRU) is a device used for recovery of vapors such as gasoline, natural gas, and other fuels so that they can reused for industrial applications. Vapor recovery units are major... View more
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,... View 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... View more
Hydrogen is a chemical compound that is widely used across various industries. Majorly it is used in the production of semiconductors, ammonia, carbon steels, methanol for polymer, and special me... View 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... View 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 ... View 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... View 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.... View more