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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
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.
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
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
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
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
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
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
Published Date : Dec 2022
Bio jet is an aviation fuel made from renewable and naturally derived raw materials. It is mixed with petroleum jet fuel and is suitable for use in exiting jet engines. Bio jet fuels have lower greenhouse gas emissions as compared to petroleum jet fuel. The need for t... View more
Published Date : Dec 2022
Diesel exhaust fluid (DEF) is a high purity chemical solution, which contains 32.5% (v/v) Urea with pure deionized water. The main application of DEF is in Selective Catalytic Reduction Process in order to reduce NOx concentration of exhaust from both on road & of... View more
Published Date : Dec 2022
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 and from the external electrical circuit. They are made of thin carbon fibers, a porous and ... View more
Published Date : Dec 2022
Bunkering is a process of refueling the marine vessels, using pipelines that are connected to the terminal or a direct transfer of fuel from ships or trucks. Ease in transportation and storage of Liquefied Natural Gas (LNG) is expected to be a factor for increasing ad... View more
Published Date : Nov 2022
Activation analysis (AA) is a primary analytical method for determining trace elements concentration in the bulk of a sample. Activation analysis is a highly sensitive non-destructive technique for qualitative and quantitative determination of atomic composition of a ... View more
Published Date : Sep 2022
Flare gas recovery systems are required for safety and operational application. Flare gas recovery systems are essential for hydrocarbon processing industry for continuous and efficient combustion of the vent gases before safe discharge to atmosphere. Flare system is ... View more
Published Date : Aug 2022
Hydropower, also known as water power, uses falling or fast-running water to generate electricity. This form of renewable energy uses kinetic and gravitational energy from water, and is a good option for a more sustainable method of energy production. The most common ... View more
Published Date : Jul 2022
Interruptions to production are costly in the subsea environment. Increasingly higher-pressure and deeper-water targets generate demanding monitoring requirements. Deepwater installations are endangered to various physical and chemical conditions such as hyd... View more
Published Date : Jul 2022
Wireline services, also known as electrical cabling technology, is used in the gas and oil well industry for reservoir evaluation, pipe recovery activities, and intervention processes. Technological advancement in wireline are providing growth opportunity for the mark... View more
Published Date : Jun 2022
Nuclear power is derived from nuclear fission, a process which releases enormous amounts of energy from the nuclei of atoms. Most nuclear power plants use enriched uranium as their fuel, as it has a higher amount of U-235 atoms. This makes it easier to split the atoms... View more
Published Date : Apr 2022
SURF (subsea umbilicals, risers, and flowlines) offers a connection between the subsea production and surface systems. Umbilicals provide a vital link between the subsea production system, processing system, and surface and have no contact with the produced fluids. Fl... View more
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
Published Date : Feb 2020
Vapor recovery units (VRUs) are typically used to recover fuel and gasoline from storage tanks, in order to restrict their escape into the atmosphere. VRUs restrict, store, withdraw, and refine vapor from gas storage tanks. It is both economically and environmentally ... View more
Published Date : Sep 2019
Geosteering, often referred as next-generation directional control, uses combination of real-time electronic logs, analyzing data of drilling cuttings, and other details from various tools to identify thorough insights on rock layer that is being drilled. Various geos... View more