Published Date: 31-Mar-23
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According to a new report, published by KBV research, The Global Energy Security Market size is expected to reach $30.6 billion by 2028, rising at a market growth of 10.2% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 12.7% during (2022 - 2028). This is due to the support of the national effort to protect critical infrastructure like power facilities. These services assess infrastructure vulnerabilities and suggest preventative strategies while assisting other agencies in preparing for and responding to energy emergencies and mitigating their effects. They perform emergency energy operations in accordance with the response framework during a proclaimed emergency or national security extraordinary event.
The Physical Security segment acquired maximum revenue share in the Global Energy Security Market by Technology in 2021 thereby, achieving a market value of $19.9 billion by 2028. This is due to the fact that public power utilities comprehend the significance of physical security and have established plans and processes to protect utility systems with the help of energy security. Also, as the nature of physical dangers has evolved, public power companies have planned, prepared, and responded accordingly to ensure a constant supply of power to the region or the nation, which is aiding in the segment's growth during the forecasted period.
The Renewable Energy segment has shown the growth rate of 10.7% during (2022 - 2028). The growth of the world's ability to generate power from solar panels, wind turbines, and other renewable technologies is likely to accelerate over the next several years, with new records being set up for new installations in recent times. In addition, solar PV continues to drive the expansion of renewable electricity with its capacity expansions. Thus, as the output of renewable energy increases, energy security demand will also rise, providing growth opportunities for the segment.
The North America market dominated the Global Energy Security Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $11 billion by 2028. The Asia Pacific market is exhibiting a CAGR of 11.3% during (2022 - 2028). Additionally, The Europe market would display a CAGR of 10% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/energy-security-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, Teledyne FLIR LLC (Teledyne Technologies Incorporated), ABB Ltd., Honeywell International, Inc., BAE Systems PLC, Elbit Sytems Ltd., Thales Group S.A., Hexagon AB, Lockheed Martin Corporation and AEGIS Security & Investigations Inc.
By Component
By Technology
By Power Plant
By Geography
Companies Profiled
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Related Reports:
North America Energy Security Market Future Scope & Opportunities 2022-2028
Europe Energy Security Market Size & Growth Forecast 2022-2028
Asia Pacific Energy Security Market Size, Share & Industry Outlook to 2028
LAMEA Energy Security Market Growth, Trends & Forecasts 2022-2028