Energy Security Market: A Global perspective, reliable, affordable access to all fuels and energy sources

Energy Security Market size was valued at USD 15.9 Bn in 2022 and is expected to reach USD 40 Bn by 2029, at a CAGR of 10.2% over the forecast period.
Energy Security Market Overview:
Energy Security is an association between national security and the availability of natural resources for energy consumption. It is the availability of energy sources without any interruption at an affordable price. Energy security has aspects such as long-term energy security and short-term energy security. Long-term and short-term energy security deals with timely investments to supply energy with economic developments & environmental needs and the ability to focus on energy systems to react promptly to sudden changes.

Diversification is essential to energy security, which is the most common energy source. Delivering energy security unleashes huge opportunities for the region. Energy security concerns in the region shape contemporary international relations in ways that go beyond the direct strategic and geopolitical dimensions of energy security. The deployment of renewable energy technologies supports the goal of energy security and supports the realization of additional benefits.To know about the Research Methodology :- Request Free Sample Report
Energy Security Market Scope and Research Methodology
The report is a detailed analysis of the Energy Security Market covering all the major aspects such as segments, regional insights, Market Structure, Market Share and size. For a better understanding of the Energy Security Industry, penetration, competitive structure, pricing analysis, and demand analysis of the market is undertaken at the local, regional and global level.

Major companies are mentioned by region, along with their revenue, developments, mergers & acquisitions, and strategic alliances, for competitive analysis of the Energy Security Market. Growth potential and business forecast for new market entrants are provided in the Energy Security Market report.

The Energy Security Market is segmented based on Component, Technology, and Power Plant to understand the variables and impact on the market growth. The bottom-up approach was used to estimate the Energy Security Market size. Primary and secondary research methods were used to collect data from the market. SWOT analysis was conducted to provide the strengths and weaknesses of the Energy security market.
Energy Security Market Dynamics
Energy transition worldwide to boost Energy Security Market growth

Burning fossil fuels in the environment and public health, with the rise in energy demand and renewable energy plays imperative roles in the transformation of energy security. Increased government regulations, security compliance, and an increase in threats from terrorist and cyber-attacks are expected to drive the Energy Security Market growth. An increase in attacks and insider threats positively impacts market growth.

The development of new technologies and the urgent need for energy transition together with securing the power plants coupled with detecting or preventing any kind of intrusions is expected to boost the Energy Security Industry growth. In September 2022, ABB launched a cyber-security solution for the simplification and improved protection of industrial infrastructure. Implementation of network systems such as antivirus, firewall, SCADA, for preventing cybercriminal attacks the network power plant is expected to influence the energy security industry growth over the forecast period.

Lack of apprehension about security implementation by operators is expected to restrain the market growth. Efficiency’ policies are long-term. Policies to reduce demand for the long term are ambiguous in their effect on the risks involved in procuring energy.

Trends in Energy Security Market

Increasing demand for critical minerals:

The energy transition is expected to have massive investment in energy infrastructure and new technologies. It is expected that the annual average of 7.5% of GDP is to be spent on physical assets to achieve net zero in the coming year.

Floating offshore wind will significantly scale up in capacity:

Governments around the world are setting targets for the development of new offshore wind capacity. In the United Kingdom, the government has committed to increasing national installed capacity from 5W to 50GW by 2030. Modern offshore wind potential is found in water depths at the same time, traditional fixed-bottom wind turbine floating technology is required to unlock access to these deep-water sites.

Dedicated energy transition funds are investing in renewable energy generation:

The capital is sourced to finance investment in renewables and various energy transition assets and continues to evolve, as demand to invest in the sector remains resilient.

North Sea Energy Islands:

The concentration of resources in EU countries means that the North Sea is the focus for the development of 'energy islands' and will act as hubs for the generation of clean energy. Energy islands centralize the generation of renewable energy on an existing island that uses multi-purpose interconnectors to transmit electricity via HVDC subsea cables.

Developments in carbon trading and offsetting:

Global policies and frameworks for required net zero commitments from businesses are developing and evolving day by day. Eg. the United Kingdom Net Zero Transition Plan Standard will require net zero commitments from companies listed.

US Inflation Reduction Act's hydrogen incentives are impacting trade:

The key trend in 2023 is to focus on “Trade”. The Inflation Reduction Act of 2022 (IRA) provides a variety of incentives for clean energy projects in the United States. These incentives are designed to attract hydrogen producers.

The path is clearer for carbon capture and storage technologies

Carbon capture and storage (CCS) technologies is increasingly important to achieve climate targets. International Energy Agency (IEA) scenario relies upon a significant scale-up in CCS with a reduction of emissions from existing energy assets.
The evolving future of nuclear power

Nuclear plays a vital role in the rapidly growing hydrogen sector. It is capable of providing electricity to feed the current generation with large-scale electrolyser technologies operating at ambient temperatures.

Issues related to Energy Security Market:

1.Diversification of energy sources
2.The quality and timing of the flow of information
3. Collaboration among and between consumers and producers
4.Investment
5.Research & development
6. Technological advancement

Threats to Energy Security Market Growth

Threats can be natural, technological, or human that can cause damage, destroy, or disrupt energy systems.

Natural Disasters: Weather conditions such as droughts and storms are expected to become more intense and destructive.

Cyberattacks: Cyberattacks are becoming common and pose a greater threat as the energy sector becomes more modern and connected.

Geopolitics: Interstate politics can be a big threat to energy security. Political instability in nations where fuel is produced can impact energy prices.

Fuel Price Fluctuations: Changes in fuel prices can threaten energy security through impacting a nation’s or community’s ability to purchase fuels.

Long-Term Climatic Changes: Changing environmental conditions such as high temperature, availability of water, changes in sea levels, or storm surges can impact energy infrastructure.
Energy Security Market Regional Insight
North American region held the largest Energy Security Market share in 2022 and is expected to continue the dominance over the forecast period. The adoption of new technologies in the region for the solution of energy security is expected to boost regional market growth. North America has resources and an innovative workforce to solve challenges. Traditional energy sources are critical to keeping pace with the increased demand for renewable energy, blocking the development of traditional energy projects is expected to lead to disruptive energy shortages and soaring costs across North America.
Government initiatives in the Asia Pacific is expected to fuel the regional market growth. The growing demand for reliable energy sources to power in China is a fast-growing economy and will have major impacts on the global oil and gas markets. Initiatives are taken by the Indian central government for energy security.
Competitive analysis:
The company profiles and competitive analysis of the major players are provided in the Energy Security Market report. The regions covered in the Energy Security Market report are North America, Europe, Asia-Pacific, and LAMEA. The strategies adopted by the major player, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance the Energy Security industry penetration. The major player covered in the report is ABB, AEGIS Security & Investigations, BAE Systems, Elbit Systems Ltd, etc. Maximize Market Research analysts to understand competitive strengths and provide competitive analysis for each competitor separately.
1. In September 2022, ABB launched a cyber-security solution to improve the protection of industrial infrastructure and its efficiency.

2. In October 2021, Siemens AG launched new AI-based industrial cyber security service, Managed Detection and Response (MDR), which is powered by Eos, to help small and medium-sized energy companies defend critical infrastructure against cyberattacks.

3. In February 2021, the central government of India launched the Go Electric campaign to influence the adoption of electric mobility vehicles and electric cooking appliances to ensure that energy security has been adopted in the country.
Energy Security Market Segmentation
Based on Components, the Solution segment held the largest market share in 2022 and is expected to continue its dominance over the forecast period. The segments covered in the Energy Security Market report are Solution and service.



Based on technology, the physical security segment is expected to dominate the market over the forecast period. The network security segment is expected to grow at the fastest growth rate 12.8 percent of CGAR throughout the forecast period.



Based on the Power plant, the thermal and hydro segment held the largest Energy Security Market share in terms of revenue in 2022 and is expected to continue the dominance over the forecast period.
Energy Security Market Scope: Inquiry Before Buying



Energy Security Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
USD 15.9 Bn.


Forecast Period 2023 to 2029 CAGR:
10.2 %
Market Size in 2029:
USD 40 Bn.


 Segments Covered:
by Component
1. Solution
2. Service
1. Service Type
2. Professional Services
3. Managed Services


by Technology
1. Physical Security
2. Network Security


by Power Plant
1.Thermal and hydro
2.Nuclear
3. Oil and gas
4. Renewable Energy



Energy Security Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Energy Security Market, Key Players are:
1. AEGIS Security & Investigations
2. BAE Systems Plc
3. Elbit Systems Ltd.
4. Thales
5. Teledyne FLIR LLC
6. Siemens AG
7. ABB Ltd.
8. Honeywell International Inc.
9. Lockheed Martin Corporation
10. HCL
11. Acorn Energy Inc.

Frequently Asked Questions:

1] What is the growth rate of the Global Energy Security Market?
Ans. The Global Energy Security Market is growing at a significant rate of 10.2 % over the forecast period.

2] Which region is expected to dominate the Global Energy Security Market?
Ans. Asia Pacific region is expected to dominate the Energy Security Market over the forecast period.

3] What is the expected Global Energy Security Market size by 2029?
Ans. The market size of the Energy Security Market is expected to reach USD 40Energy Bn by 2029.

4] Who are the top players in the Global Energy Security Industry?
Ans. The major key players in the Global Energy Security Market are ABB, AEGIS Security & Investigations, BAE Systems, Elbit Systems Ltd.

5] Which factors are expected to drive the Global Energy Security Market growth by 2029?
Ans. Energy transition worldwide is expected to drive the Energy Security Market growth over the forecast period (2023-2029).