For market analysts, nothing is as fascinating as well as awe-inspiring as the changes which the energy sector has recently undergone. Right from the emergence of some unique sources of energy, this is one sector which is continuously witnessing technological innovation backed by huge demand from the emerging markets. Whether it is the growing demand which is fueling innovation or the other way around, is something which has long been discussed and debated. Not adding to this conundrum, the focus of this piece is more on understanding the factors which are playing as disruptors and innovators in the energy sector.
Major Game Changers in the Energy Sector
1) Environment: Being one of the major contributors to pollution and GHG emissions, it is only natural for the environment to play a disruptive role in the energy sector. With clean energy being the phrase of the decade, there has been major pressure to come up with technology-driven energy solutions. This is the reason, despite high dependence on fossil fuels, the market for renewable energy has also grown immensely. In fact, keeping the growing demand of energy in mind, countries like China and India have invested enormously in green energy sources.
2) Technology: When it comes to technology, the emergence of electric vehicles (EVs) has had a euphoric effect on the automotive as well as the energy sector. If industry analysts are to be believed, by mid-2020 the popularity of EVs will grow manifold, and it will also gain a competitive edge over the conventional vehicles. This development is sure to bring down the demand for liquid fuel substantially.
3) Entry of minor players: Lastly, contrary to popular perception, it is not the major players but the minor ones who are going to give an edge to the energy sector. With new avenues of capital sourcing, the small players are leaving no stone unturned in rolling out region-specific energy solutions. While this trend has disrupted the monopoly of large players in the industry, it has also opened new doors for innovation and changes in the energy sector.
These emerging conditions will have a great impact on the future of the global energy sector. Explore sustainable growth opportunities in this ever-evolving domain with actionable market intelligence solutions from Infiniti Research.
