AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
The global energy security market was estimated at $15.61 billion in 2021 and is expected to hit $42 billion by 2031, registering a CAGR of 10.5% from 2022 to 2031.
Driving Factors Energy Security Market
Rise in need for protecting existing energy infrastructure and resources in developed nations along with increased pipeline infrastructure is driving the growth of the global energy security market. By component, the solution segment contributed to the major share in 2021. By region, on the other hand, Asia-Pacific would showcase the fastest CAGR by 2031.
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Market Segmentation Energy Security Market
The energy security market is segmented on the basis of by component, technology, power plant, and region. On the basis of component, the market is categorized into solution and service. On the basis of technology, the market is fragmented into physical security, and network security. On the basis of power plant, it is classified into thermal and hydro, nuclear, oil and gas, and renewable energy. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players Energy Security Market
The key market players analyzed in the global energy security market report include ABB Ltd., AEGIS Security & Investigations, BAE Systems plc, Elbit Systems Ltd., Thales, Teledyne FLIR LLC, Honeywell International Inc, hexagon ab, Lockheed Martin Corporation, and Siemens AG. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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By region, North America held the major share in 2021, garnering more than one-third of the global energy security market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 12.8% from 2022 to 2031.
By power plant, the thermal and hydro segment accounted for the highest share in 2021, generating nearly half of the global energy security market revenue. The renewable energy segment would portray the fastest CAGR of 12.9% during the forecast period.
By component, the solution segment held the largest share in 2021, garnering around three-fourths of the global energy security market revenue, and is projected to maintain its dominance by 2031. The service segment showcase the fastest CAGR of 12.0% during the forecast period.
By technology, the physical security segment contributed to nearly one-third of the global energy security market share in 2021, and is projected to rule the roost by 2031. The network security segment, on the other hand, would display the fastest CAGR of 12.8% throughout the forecast period.
The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Regional Insights of Energy Security Market
The global energy security market is growing significantly as nations strive to protect their energy infrastructure from physical threats and cyber-attacks, ensure uninterrupted energy supply, and reduce dependency on external sources. Energy security involves safeguarding resources, infrastructure, and energy transmission networks, with regional dynamics playing a key role in shaping market growth. Below are regional insights into the energy security market:
1. North America
North America dominates the global energy security market, driven by increasing concerns over cyber-attacks on critical energy infrastructure and rising investments in modernizing the energy grid. The U.S. leads this market, propelled by significant investments in securing energy networks, oil pipelines, nuclear plants, and electric grids. Government initiatives such as the Cybersecurity and Infrastructure Security Agency (CISA) and various energy sector cybersecurity frameworks have enhanced security measures. The rise of renewable energy sources such as solar and wind also necessitates enhanced security frameworks, as decentralized energy systems are becoming more vulnerable to cyber-attacks. Canada follows a similar trajectory, emphasizing protecting its energy infrastructure, especially in the oil and gas sector.
2. Europe
Europe is another significant player in the energy security market, driven by the region’s focus on reducing dependence on external energy sources and bolstering its infrastructure security. Countries like Germany, the UK, and France are leading in renewable energy production, which has led to an increased need for protecting distributed energy resources and grids. The European Union has also taken significant steps to address energy security concerns by introducing regulations and guidelines focused on securing energy networks. Moreover, Europe’s geopolitical situation, particularly the ongoing Russia-Ukraine conflict, has emphasized the importance of energy independence, prompting investments in local energy production and security measures to protect supply lines, especially gas pipelines.
3. Asia-Pacific
Asia-Pacific is expected to witness the highest growth in the energy security market during the forecast period. The rapid industrialization and urbanization in countries such as China, India, Japan, and South Korea are driving the need for robust energy security solutions. China, as the largest energy consumer in the world, has been investing heavily in securing its energy infrastructure, especially as it transitions to a more renewable energy-driven economy.
The expansion of smart grid systems and the growing reliance on imported oil and natural gas have made energy security a top priority for China. Similarly, India’s expanding energy needs, driven by its booming population and industrial growth, are leading to heightened security measures across its energy infrastructure. Government initiatives such as India’s National Smart Grid Mission are contributing to the market’s growth.
4. Middle East and Africa
The Middle East and Africa (MEA) region is also a key player in the energy security market, given its rich reserves of oil and gas, which are critical to the global energy supply chain. Countries such as Saudi Arabia, the UAE, and Qatar have been focusing on securing their oil and gas infrastructure from physical attacks, including terrorism and geopolitical instability. The rise of cyber-attacks on critical infrastructure, including energy facilities, has further increased the demand for advanced cybersecurity measures in the region.
The development of alternative energy sources, including solar power in countries like the UAE, also requires enhanced security measures to ensure an uninterrupted energy supply. In Africa, energy security is critical, especially as the region seeks to improve energy access and infrastructure while safeguarding against physical threats, such as theft and sabotage.
5. Latin America
Latin America’s energy security market is gaining momentum as countries like Brazil, Mexico, and Argentina focus on modernizing their energy infrastructure and enhancing security measures. With its vast renewable energy potential, particularly in hydroelectric power, Brazil is investing in energy security to protect its energy resources from physical threats and cyber-attacks. Mexico’s oil and gas industry, a key driver of its economy, is also facing rising challenges in securing its pipelines and refineries from theft and sabotage. The region’s increasing shift towards renewable energy sources, particularly wind and solar power, is creating new vulnerabilities that necessitate advanced energy security solutions.
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