London, 10 November 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.
Technological innovation in the field have opened up the possibility of moving beyond current options for energy supply.
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 also inflated. Therefore, efforts are being made to increase the number of energy generation systems and to improve efficiency of existing systems.
“Nanotechnology in the energy sector is a great tool for improving the way in which energy is generated, stored, transmitted, distributed and managed,” says Faisal Ghaus, Vice President of TechNavio.
Additionally, an increase in energy demand and limited supply of fossil fuels has led to increasing costs, thus inflating an overall increase in energy costs. The use of nanotechnology will further help make renewable energy more efficient and cost-effective, and will minimize the effects of rising fossil fuel costs.
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
https://www.technavio.com/%3Cp%3E%3Cstrong%3EAbout%20TechNavio%3C/strong%…
