Energy

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 Concentrated Solar Power Market

Published Date : Jul 2023

Systems produce solar energy by focusing a lot of sunlight into a receiver using mirrors or lenses. When concentrated light is transformed into heat (solar thermal energy), which powers a heat engine typically a steam turbine connected to an electrical power generator... View more

Coherent Market Insights Commercial Boiler Market

Published Date : Jun 2023

Commercial boilers are designed to offer a dependable, efficient supply of heating and hot water for a variety of different companies. These large-scale boilers perform a number of critical purposes, from keeping school classrooms warm to ensuring hot water is availab... View more

Coherent Market Insights Cryogenic Tanks Market

Published Date : Jun 2023

Cryogenic tanks are double-walled, vacuum insulated vessels designed to hold industrial gases that require storage at very low temperatures. They can be stationary or transportable tanks. Often these tanks are filled by the gas supplier who is responsible for their op... View more

Coherent Market Insights Geothermal Heat Pumps Market

Published Date : Jun 2023

Geothermal heat pumps use long loops of liquid-filled pipes to transfer heat between a home and the earth, saving homeowners money on heating and cooling. A system that uses a geothermal heat pump can reduce energy consumption and emissions by 40 percent to 70 percent... View more

Coherent Market Insights Geothermal Power Market

Published Date : Jun 2023

Geothermal energy is a renewable resource that offers clean, reliable, and cost-effective power. This is because, unlike fossil fuels, it does not pollute the air or create greenhouse gasses that contribute to global warming. It can be produced in a variety of ways, d... View more

Coherent Market Insights Hydropower Generation Market

Published Date : Jun 2023

Hydropower generation is a world’s largest power stations that harness the energy of moving water to produce electricity. They use dams to create a pool of water above the structure, then one or more pipes give it a path to surge downhill—and, in the proce... View more

Coherent Market Insights Power To Gas Market

Published Date : May 2023

Power-to-gas or P2G is a process that converts surplus renewable energy into hydrogen gas with the use of PEM electrolysis technology. P2G is a good way to move to a natural gas mix that is "greener." Anaerobic digestion processes, in which microbes are converted to o... View more

Coherent Market Insights Steam Turbine Market

Published Date : May 2023

Steam turbine is a mechanical power plant that uses steam as a fuel to do work on a rotating shaft. The design of a steam turbine is a multi-disciplinary task that involves thermodynamics, aerodynamics and mechanical engineering. In addition to generating electricity,... View more

Coherent Market Insights Solid State Battery Market

Published Date : May 2023

Solid state batteries are a new type of battery that uses solid electrolytes instead of liquid-based solutions to store energy. These batteries offer many advantages over traditional lithium-ion batteries including a lower risk of explosions, longer shelf life, and be... View more

Coherent Market Insights Stationary Energy Storage Market

Published Date : May 2023

Stationary energy storage (ESS) is a critical component of grid resiliency and energy efficiency. It helps ensure that power from renewable sources is available when and where it’s needed. It also helps to reduce electricity bills and greenhouse gas emissions. A... View more

Coherent Market Insights Thermal Energy Storage Market

Published Date : May 2023

Thermal Energy Storage (TES) is a technology that enables the storage of heat energy in insulated repositories for a variety of applications. It can be used to balance thermal supply and demand, integrate renewable energy sources, or recover waste heat from industrial... View more

Coherent Market Insights Thin Film Solar Cell Market

Published Date : May 2023

Thin film solar cell is a newer type of photovoltaic (PV) technology that has many benefits over crystalline silicon panels. They are easy to manufacture and can be used in a variety of applications. They are also cheaper and more lightweight than crystalline silicon ... View more

Coherent Market Insights Battery Management System Market

Published Date : Apr 2023

A battery management system (BMS) is an electronic system that maintains the optimal health of the battery. This is done by monitoring the battery state, controlling the load environment, and balancing and charging accordingly. Moreover, the battery management system ... View more

Coherent Market Insights Solar Photovoltaic Market

Published Date : Apr 2023

Solar photovoltaic (PV) technology uses solar energy to convert light into electricity. These devices can be used in small electronic appliances such as calculators or to power homes and commercial businesses. PV systems use several kinds of solar cells connected in s... View more

Coherent Market Insights Nuclear Decommissioning Services Market

Published Date : Mar 2023

Aging nuclear power plants is expected to propel growth of the global nuclear decommissioning services market. Several existing nuclear power plants are expected to inevitably close down over the next two decades, as plants are nearing the end of their operational lif... View more

Coherent Market Insights Drilling Waste Management Market

Published Date : Mar 2023

Oil and gas drilling process generates a large volume of waste which includes spent mud and drilling cuts. This waste adversely affects human health and the environment. The oil and gas industry is focusing to develop a new technology that will have the least impact o... View more

Coherent Market Insights Advanced Energy Storage Market

Published Date : Feb 2023

An Advanced Energy Storage (AES) system is used to efficiently manage energy resources, thereby reducing the need for utility scale power generation plants. Advanced energy storage systems help in increasing the usage of renewable energy by using renewable sources suc... View more

Coherent Market Insights Offshore Wind Market

Published Date : Feb 2023

Offshore wind energy is the generation of electrical energy by the installation of wind turbines at sea. The wind blows faster and steadily at the sea than on land or onshore areas, that result in more stable and higher yield of energy. The main advantage of the offsh... View more

Coherent Market Insights Polycrystalline Diamond Compact Cutter Market

Published Date : Feb 2023

Polycrystalline diamond compact (PDC) bits are used in the drilling tools. These bits are necessary tools for carrying out drilling operations primarily in the oil and gas industry, where PDC bit drills cylindrical boreholes for assembling crude oil and gas. Moreover,... View more

Coherent Market Insights Power Rental Market

Published Date : Feb 2023

Power rental plants are simple power generators that generates on-demand power at the cost of fuel, in order to reduce the power disruptions in any environment. For large scale companies, national utilities, individual business, hospital emergencies, and for various e... View more

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