Report Highlights
- The global market for exploration and production should grow from $387.8 billion in 2018 to $530.8 billion by 2023 with a compound annual growth rate (CAGR) of 6.5% for the period of 2018-2023.
- The global market for solar power technologies should grow from $143.3 billion in 2018 to $286.3 billion by 2023 at a compound annual growth rate (CAGR) of 14.9% during the forecast period of 2018-2023.
- The global hydrogen plant and equipment investments market should reach $26.8 billion by 2024 from $16.1 billion in 2019 at a compound annual growth rate (CAGR) of 10.7% for the period of 2019 to 2024.
Energy industry greatly impacts the lives of everyone, and every nation strives to achieve energy independence by utilizing the natural resources, be it conventional fossil fuels or renewable sources. Advancements in technology has changed the landscape of the energy industry, for example the shale revolution has made US a net exporter of oil from being one of the largest importers of the commodity. Likewise, concerns about the depleting resources in the form of oil reserves, gas reverses, and ill effects of dependence on fossil fuels like coal has given a renewed thrust on researching renewable energy technologies to reduce the harmful impact on the environment as well as create energy sustainability for long term.
In 2018, according to EIA, the global energy consumption increased to twice of the average consumption in 2010. The increased energy consumption is driven by a robust global economy and increasing needs of heating and cooling in some parts of the world. As per EIA, the world energy consumption will grow by nearly 50% between 2018 and 2050. Most of this growth comes from countries outside the Organization for Economic Cooperation and Development (OECD), and this growth is focused in regions where strong economic growth is driving demand, especially in Asian regions.
The present energy review tries to put light on few of the important topics that have been researched by BCC Research in a concise way by summarizing the key facts from the reports published in 2019. This Research Review include portions of several market research studies and is an efficient way for market professionals to keep up with the general market developments of 2019.
This 2019 Energy and Resources Review includes excerpts from the following reports:
- EGY055E Global Hydrogen Economy: Merchant Hydrogen and Hydrogen Purification Technologies.
- EGY162A Oilfield Exploration & Production Markets: A BCC Research Outlook.
- EGY165A Solar Energy Markets: A BCC Research Outlook.
- EGY166A Global Markets for Vehicle Light Weighting Technologies.
- EGY168A Global Markets for Offshore Wind Turbines (Special Report).
We hope you find this Research Review valuable, and we look forward to serving our customers market research needs.
BCC Publishing Staff
BCC publishing staff comprises expert analysts who are skilled in conducting primary research, secondary research and data analysis and have decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. Collectively, the team represents a diverse set of educational achievements with individual graduate work completed in fields such as electronics and semi-conductors, automotive, industrial automation, ICT, petroleum, electrical engineering, business administration, among others.
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