Nov 14 2014
Aggressive advances in nanotechnology have led to immense growth of the Global Nanotechnology in Energy Applications Market, with the market posting a CAGR of 49.2 percent from 2014-2018, says research firm TechNavio.
According to the latest report from TechNavio, the demand for energy is increasing every day because of booming populations and improved standards of living worldwide. As a result electricity use has skyrocketed.
Additionally, this increased demand and limited supply of fossil fuels has inflated overall energy costs. Therefore, efforts are being made to increase the number of energy generation systems and to improve efficiency of existing systems.
The use of nanotechnology will help make renewable energy more efficient and cost-effective, and will minimize the effects of rising fossil fuel costs. Technological innovations in the field have opened up the possibility of moving beyond current options for energy supply.
“Nanotechnology provides a great tool set for improving the way in which energy is generated, stored, transmitted, distributed and managed,” says Faisal Ghaus, Vice President of TechNavio.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global Flywheel Energy Storage Market 2014-2018
- Global Grid-scale Energy Storage System Market 2015-2019
About TechNavio
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.