Without the Power Industry, no other industrial sectors could exist, making it the world’s largest in the number and value of projects and facilities. As developing economies continue to expand their power bases to meet growing demand, the number of Power Industry projects across the world is constantly increasing. In developed economies, aging infrastructure and increased legislation regarding emissions and the use of renewable energy are driving capital spending.
The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy industry is a crucial part of the infrastructure and maintenance of society in almost all countries.
In particular, the energy industry comprises:
- The petroleum industry, including oil companies, petroleum refiners, fuel transport and end-user sales at gas stations
- The gas industry, including natural gas extraction, and coal gas manufacture, as well as distribution and sales
- The electrical power industry, including electricity generation, electric power distribution and sales
- The coal industry
- The nuclear power industry
- The renewable energy industry, comprising alternative energy and sustainable energy companies, including those involved in hydroelectric power, wind power, and solar power generation, and the manufacture, distribution and sale of alternative fuels
- Traditional energy industry based on the collection and distribution of firewood, the use of which, for cooking and heating, is particularly common in poorer countries
The use of energy has been a key in the development of the human society by helping it to control and adapt to the environment. Managing the use of energy is inevitable in any functional society. In the industrialized world the development of energy resources has become essential for agriculture, transportation, waste collection, information technology, communications that have become prerequisites of a developed society. The increasing use of energy since the Industrial Revolution has also brought with it a number of serious problems, some of which, such as global warming, present potentially grave risks to the world.