The new challenges of the energy sector

Nowadays, for the companies in this sector, it’s essential to find a sustainable path, adapting to the market’s needs.

Photo by Riccardo Annandale

In the future, the prospects indicate that the global economic prosperity will increase, raising the energy demand, although this growth will be offset by the accelerating gains in energy efficiency.

In the last decade, the global energy sector hasn’t always been easy. But, if on the one hand, this market has presented several challenges, on the other hand, it has also presented numerous business opportunities.

Photo by Jessica Podraza

RENEWABLE ENERGY

Worldwide, the energy market faces several challenges: there are new policies related to climate change, oil price peaks, emerging countries’ energy requirements, the end of nuclear energy, the costs of renewable energy technologies and diverse geopolitical tensions.

This scenario increases the need to use renewable energy to enable a sustainable future. Today, more than ever, the need to reduce CO2 emissions is pressing, opening doors to the growth of clean energy.

The renewable energy sector is more appealing in countries that implement policies benefiting it, economically, socially and environmentally.

ELECTRICAL ENERGY

This is a business sector that remains stable. The world continues to resort to electricity, with about 70% of the increase in primary energy going into the energy sector.

An expanding business area is electric vehicles, which presents new opportunities for the electrical energy area.

OIL & GAS

The world energy market is going through a transitional phase and significant changes in its composition should emerge in the coming decades. Demand for liquid fuels has stabilized, while natural gas has seen an increase in demand. The consumption of coal has slowed down.

The oil & gas sector will continue to play a relevant role in the global energy scenario and hydrocarbons are estimated to account for 44% of energy use by 2050.