Energy Efficiency, Energy Procurement, GHG Emissions - November 24, 2020
New report outlines top priorities in energy for the next year
Energy transformation and sustainability economies are set to be the biggest focus in the energy and environment industry in the coming year as the industry evolves to face new challenges, a new report found.
Frost & Sullivan released a paper titled “Top 5 Growth Opportunities in the Energy & Environment Industry for 2021 – What You Need to Know Now” detailing the key trends in innovation and market transformation that will be required over the next year to stay on top of the changes in the industry. These five trends are:
- Energy Transformation
- Sustainability & Circular Economy
- Smart & Cognitive Buildings
- Electrification of transport, mobility, heating, and industrial processes
- New service-based business models
“The global Energy and Environment (E&E) industry is going through an unprecedented transformation,” the report states. “This change is bringing new opportunities but many companies also face struggles with pricing pressures, commoditization and industry disruption. The competitive landscape for the future of the E&E industry will be different; driven by innovation, market transformation, and disruptive business models.”
Increasingly advanced products and services will continue to transform society into a digital and sustainable domain, offering enhanced efficiency, environmental performance, productivity, flexibility and profitability, according to Frost & Sullivan analysts. Staying on top of the changing industries will allow companies in the energy sector who are struggling with pricing pressures, commoditization and industry disruption as a result of Covid-19.
- Hydrogen power gains ground across global economies
- Increasing electric aircraft demand is driving electric power systems development
- Renewables could make up more than half of installed capacity by 2030
- Distributed energy resources expected to increase 75% by 2030
- New report forecasts 3.5% growth of electric motor market before 2024