According to a recent report released by Kings Research, the global Energy Security Market was worth $12.85 billion in 2022 and is anticipated to register a valuation of $29.78 billion by 2030, with a a CAGR of 12.70% through the projection period of 2023-2030.
Key drivers boosting the market growth include the burgeoning energy requirement, rising concerns about potential disruptions in energy supply caused by geopolitical tensions and climate change and a growing reliance on interconnected energy networks.
Energy security entails the strategic assurance of a reliable, consistent and economically viable supply of energy resources for a nation or region.
The focus is on mitigating vulnerability to disruptions, covering diverse aspects such as physical infrastructure, energy resources and regulatory frameworks.
Understanding the importance of energy resilience, both governments and industries are heavily investing in technologies and methodologies aimed at reducing vulnerabilities in the energy sector.