The search for stable economic growth and sustainable environmental quality is quickly becoming an important topic for Governments, international bodies and other parties concerned with sustainable development. This led to the realization that an increased energy consumption, especially in carbon-related sources, is linked to increasing levels of carbon emissions that harm the environment and human health in the production of economic growth. Developing countries see carbon-intensive energy constraints to the detriment of their efforts to expand their economy and recommend that industrial economies must increase funding for global warming programmes mainly due to their industrial activities.

Only 10% of U.S. power comes from renewable sources — mainly hydroelectric power. 85% of energy worldwide comes from non-renewable sources. Everyone will end up depleting these sources, including oil, natural gases and coal. The most common non-renewable energy sources include oil, petroleum, natural gas, coal and uranium. These may be renewable, but thousands of years are needed to build them. They are therefore consumed faster than substituted and considered non-renewable.

Latest data show that global energy demand declined by 3.8 percent in comparison with the first quarter of 2019, as global economic activity and mobility decreased dramatically in the first quarter of 2020. If lockouts last for several months and recoveries are increasingly slow throughout the world, annual energy demand will decline by about six per cent in 2020, wiping out the last five years of growth in demand. In the last 70 years, such a decline was not seen.

By 2040, the international energy perspective plans to increase global energy consumption from all fuel sources except coal, which is expected to remain essentially flat. It is projected that renewables will be the fastest growing source of energy and nuclear power the second fastest growing energy supply in the world.

It is anticipated that renewable fuels will grow faster than fossil fuels, although the world will consume over three-quarters of energy by 2040. The fastest-growing fossil fuels are expected to be natural gas with an increase of 1.4 percent in the global consumption of natural gas every year. This is due to the abundance of natural gas resources and increased production, including tight gas supplies, shale gas and coal bed methane.

Although oil-based fuels remain the biggest energy source, liquids are projected to slightly decrease in global energy consumption, from 33 percent in 2040 to 31 percent in 2040. With oil prices increasing, consumers are moving away from liquid carburant and becoming more energy efficient technologies.

By 2040, China will be powered by one in four cars. However, by 2030, China will overtake America, with net imports of around 13 million barrels daily as the leading oil consumer, while America uses approximately 20 million barrels or about a fifth of global demand. The demand for oil will rise to 105 million barrels a day by 2040 for petrochemicals, trucks, the air and the sea. It takes more than just electric cars to alter the need for oil. In the foreseeable future we should not assume a reduction in oil impacted by electric cars.

Coal’s low cost and abundance are the basic desirability. Coal will be a valuable commodity in the next 10 to 20 years, as advanced coal plants are upgraded to meet the growing global energy needs while easement will be achieved by capturing carbon.

Coal is the power of the future. It is expected to become the most important energy supply in the world and the world’s fastest growing fuel, which is expected to continue to grow 39 percent in the next decade over all other power generating fuels.

The supply and management of uranium will become an essential factor in the energy supply in the next few years as new power reactors come inline. The fuel from uranium will be an essential, trustworthy source of low carbon nuclear power. But new technologies and strategies must be developed in order to make uranium a sustainable resource.

When new technologies for nuclear power mature, less uranium will be needed, but as nuclear energy production increases, the demand for uranium is expected to increase. Although the current mining practices have made it available enough uranium for at least 100 years, more research is needed to find different ways in which uranium resources can be taped into the world.

To consume non-renewable resources, technology and technological progress must be closely linked. Only if the current supply of this resource is not declining in the future can the use of nonrenewable resources be sustainable. This can be only possible if technological advances lead to a significant increase in the effectiveness and development of renewable energy sources in the use of these resources in the future.

Regional Outlook (Revenue, USD Billion, 2021 – 2027)

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
• Asia Pacific
  • China
  • Japan
  • India
• South America
  • Brazil
• Middle East and Africa (MEA)

Competition

Top Players in the non-renewable energy sector are:

• ALLETE (USA)
• Adaro Energy ( Indonesia)
• Anglo American (South Africa)
• Arutmin (Indonesia)
• Aviva Corporation (Australia and Botswana)
• Berau Coal (Indonesia)
• Sinopec  (China)
• Saudi Aramco (Saudi Arabia)
• China National Petroleum (China)
• Royal Dutch Shell (UK- Netherlands)
• BP (UK)
• ExxonMobil (USA)
• AREVA SA (France)
• Alstom SA (France)
• Babcock & Wilcox Company (Charlotte, NC)
• Dongfang Electric Corporation Ltd (China)
• Doosan Heavy Industries & Construction Co. Ltd. (South Korea),
•  Hitachi-GE Nuclear Energy Ltd. (Japan)

Topics this report will cover:

• Market size from 2019 to 2027
• Revenue Forecast from 2020 to 2027
• Market segmentation and active players
• Market trends and opportunities
• Competitive landscape 
• Regional analysis 
• Related Industries 

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