Global energy security market to reach $67b by 2018
DALLAS—The global energy security market for power plants is projected to reach $67.9 billion by 2018, up from $49.27 billion in 2013, reflecting a CAGR of 6.6 percent, according to a recent report from MarketsandMarkets, a market research firm based here.
The North American market is estimated to have a growth rate of over 11 percent during the forecast period, increasing from roughly $15 billion to more than $20 billion. By 2018, North America is estimated to have 30 percent of the market share.
Political pressure, regulations and terrorism threats are contributing to rapid growth in North America, Subhasis Puhan, senior analyst, said in an email interview, adding that energy facilities have been classified by government agencies as primary vulnerable targets of terrorists and cyber attackers. The industry-wide push to deploy best practices is also fueling growth, Puhan said. Some governments, including the United States, have “developed frameworks and regulations defining set perimeter security standards that need to be deployed by the energy infrastructure owner and operators.”
The report deals with the power plant vertical, which includes facilities that develop and store nuclear energy oil and gas energy, thermal and hydropower and renewable energy. Physical security for such facilities encompasses an array of technologies, according to Puhan, including “microwave intrusion detection, perimeter fencing and IR fields, video surveillance, detectors and access controls, air and underwater surveillance, fire detection and alarm systems and building management systems” as well as other HAZMAT detection technologies.
Huge global investments in energy have also helped trigger a rising demand for securing the infrastructure, which can often be a challenging proposition requiring the most advanced technological solutions. “These power generation units and related infrastructures such as pipelines are spread over large and remote areas,” Puhan said. “Personnel surveillance along with remote monitoring technologies such as intrusion detection, supervisory control and data acquisition (SCADA), intrusion detection, aerial and underwater surveillance and video surveillance are being deployed by the energy companies to protect their infrastructure from attacks and natural disasters.”
Companies are also leaning more on new and emerging technologies in recent years, in some cases deploying unmanned vehicles and underwater surveillance systems to secure their perimeters and more remote portions of their infrastructure.
As far as factors that could curb market growth in North America, Puhan cited political instability and economic stagnation.