Pune, April 11, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Electronics market research firm, has published competitive intelligence and market research report on “Energy Security Market“. The Energy Security market size was valued at USD 15.9 Bn in 2022. The total Energy Security Market revenue is expected to grow at a CAGR of 10.2 percent from 2023 to 2029, reaching USD 40 Bn by the end of forecast period.
| Market Size in 2022 | USD 15.9 Bn |
| Market Size in 2029 | USD 40 Bn |
| CAGR | 10.2 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 260 |
| No. of Tables | 125 |
| No. of Charts and Figures | 115 |
| Segment Covered | By Component, Technology, and Power Plant |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Energy Security Market Scope and Research Methodology
The objective of the report is to present a comprehensive analysis of the Energy Security Market. The Energy Security Market is segmented by component, technology, and power plant. The Energy Security Market report is an investor guide that provides a detailed analysis of the competitive benchmarking of major market players in the market by revenue, financial status, portfolio, growth strategies, and geographical presence.
Major service provider in the Energy security Market are listed by region, total market revenue, financial status, advancements in energy security service adopted by the market players, and mergers & acquisitions. Data for analysis from the Energy Security industry research is collected by both primary and secondary research methods.
The report is a detailed analysis of the Energy Security Market by country, regional and global presence. Energy security market size was estimated through a bottom-up approach. The new entrants in Energy Security Market was researched for growth prospects and future business outlooks. Restraints, drivers, challenges, and opportunities preventing the market growth is provided in the Energy Security Market report.
Energy Security Market Overview
Energy Security is the availability of energy sources at an affordable price. Long-term energy and short-term energy are the aspects of energy security. Long-term and short-term energy security deals with economic developments & environmental needs and the ability to focus on energy systems to react promptly to sudden changes. Diversification is the most common source essential to energy security. The aim of energy security is to reduce its dependency on the imported energy sources for the nation’s economic growth.
Increased government pressure, security compliance, and stringent regulations to boost the Energy Security Market growth
Blend of technological abilities, government rules and regulations provides innovation that combines knowledge and execution are expected to boost the Energy Security Market growth. Government authorities along with owners of the power plant are implementing network and physical solutions such as microwave intrusion detection, secured communications, surveillance systems, access control systems, and detectors. Energy transition worldwide is expected to influence the Energy Security Market growth.
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An increase in attacks and insider threats positively impacts the Energy Security market growth. The development of new technologies and the need for energy transition with securing the power plants coupled with detecting or preventing intrusions is expected to boost the Energy Security Industry growth. Energy security helps in securing the power plants coupled with detecting any kind of intrusions with its prevention and is significantly contributing to the Energy Security Market growth.
Lack of apprehension about security implementation by operators is expected to hamper the market growth.
Role of power system connectivity in the Energy security market
Infrastructure: Infrastructure is a major element of sustainable energy systems.
Adequate planning: Development of new technologies and the need for energy transition together with planning or policymakers to create resilient systems deployment of large amounts of renewable energy by increasing balancing areas.
Cyber security: Digitalization is an important area of development of energy sector, which helps to increase energy efficiency and to speed up energy transition. Cyber-attacks are becoming more common with the increasing volume of sensitive data.
Trends in the Energy Security market
- Increasing demand for critical minerals
- Floating offshore wind will significantly scale up in capacity
- Dedicated energy transition funds are investing in renewable energy generation
- North Sea Energy Islands
- Developments in carbon trading and offsetting
- US Inflation Reduction Act's hydrogen incentives are impacting trade
- The path is clearer for carbon capture and storage technologies
- The evolving future of nuclear power
Threats to Energy Security Market Growth
- Natural Disasters
- Cyberattacks
- Geopolitics
- Fuel Price Fluctuations
- Long-Term Climatic Changes
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North America region to dominate the global Energy Security market growth over the forecast period
North American region held the largest energy security market share in terms of revenue in 2022 and is expected to continue its dominance over the forecast period. New technological advancement in the region for the solution of energy security is expected to boost the regional energy security market growth. North America has resources with innovative workforce to solve challenges related to energy security.
Asia Pacific region is expected to dominate the market growth due to stringent government regulations in the region. Increased demand for reliable energy sources in China due to fast-growing economy will have major impacts on the global oil and gas markets and is expected to fuel the energy security market growth.
Energy Security Market Segmentation
Based on Component, Solution segment held the largest market share as it provides improving, and modernizing energy infrastructure such as smart grid solutions. The availability of energy sources at an affordable price is expected to dominate the service segment.
By Component:
•Solution
•Service
- Service Type
•Professional Services
•Managed Services
By Technology:
•Physical Security
•Network Security
By Power Plant:
•Thermal and hydro
•Nuclear
•Oil and gas
•Renewable Energy
Energy Security Key Players include
•AEGIS Security & Investigations
•BAE Systems Plc
•Elbit Systems Ltd.
•Thales
•Teledyne FLIR LLC
•Siemens AG
•ABB Ltd.
•Honeywell International Inc.
•Lockheed Martin Corporation
•HCL
•Acorn Energy Inc.
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Key questions answered in the Energy Security Market are:
- What is Energy Security?
- What was the Energy Security market size in 2021?
- What is the expected Energy Security market size by 2029?
- What is the growth rate of the Energy Security Market?
- Which are the factors expected to drive the Energy Security market growth?
- Which factors are expected to restrain the Energy Security market growth?
- Which segment dominated the Energy Security market growth?
- What is the demand pattern for the Energy Security market?
- Which region held the largest share in the Energy Security market?
- Who are the key players in the Energy Security market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Component, technology, and power plant
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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