Energy And Power Industry And Its Market Growth

The energy and power industry is involved in the sale and production of energy which includes manufacturing, fuel extraction, distribution, and refining. The present-day world with its huge population is consuming a huge amount of fuel because of which the amount of non- renewable resource like fuel is getting vanished slowly with the passage of time. The energy and power industry is one of the important parts of the society maintenance. Without the usage of energy and power, one cannot live a comfortable life.

What does the energy and power industry comprise of?

The energy and power industry has different segments and sub-industries which play an important role in the generation of power and energy in different parts of the world. Let us look at the segmentation of the energy and power industry in brief:

·         The gas industry which includes the sales and distribution of gas, coal gas manufacture and natural gas extraction.

·         The nuclear power industry

·         The petroleum industry which includes petroleum refiners, oil companies, end-user sales at different gas stations, fuel transport and so on.

·         The coal industry

·         The electric power generation industry which includes sales, distribution, and generation of electricity.

·         The traditional energy industry which is based on the distribution and collection of firewood for heating and cooking purpose.

·         The renewable energy industry which includes sustainable and alternative energy companies; like solar power, wind power and hydroelectric power generation along with the sales and distribution of the alternative fuels.

Usage of chemicals in the manufacturing or generation of the electric power

Amongst all these segmentations, the electric power generation is one of the major industry in the energy and power industry. Chemicals for electricals and electronics are often required in order to ensure the proper functioning of the different types of electronic and electrical devices. This process often requires various chemical products that become essential for the manufacturing of such devices. Some of these chemicals include pigments, monomers, indium tin oxide, lithium salts, electrolyte, photoinitiators and other chemicals and separators.  

Market trends of the energy and power industry

According to reports published by the different Industry Research Firms, few major regulatory areas like renewable energy tax credits, derivatives oversight, environmental protection regulations are facing uncertainties. The report also shows the future regulatory opportunities and challenges. All the market trends, drivers, challenges, opportunities and other issues are covered in the recent market report on the energy and power industry. The reports provide a better understanding of the different types of technical strategies that are applied by the leading key players in the market. Apart from this, it also helps in the assessment of the better market opportunities by providing a detailed account of the entire market.

Factors affecting the growth of the energy and power industry

The energy and power industry is specifically influenced by different factors like rising in the environmental concerns, volatile oil prices and other regulatory changes. At present, in the energy and power industry, the oil and coal segment is dominating the market with 70% share, renewable energy with 15% market share followed by other sources of energy and power.

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