Asia has retained the position as the top oil importer in 2025, and continues to maintain that critical position in the energy sector that the world relies on. China has retained its top spot as the most prominent crude oil importer since 2013. The International Energy Agency (IEA) has significantly indicated growth in China's crude oil imports, estimating 10.1 million barrels per day in 2019. With China's industrialization, the oil demand will climb even higher, further reinforcing China's position in the ultra-competitive global oil market.

With the multi-dimensional impact of the Russia-Ukraine conflict, Asian economies have started looking for oil from other countries, which disrupts the supply chains of the two countries. Many…

In the past few weeks, the fuel price in the UK has dropped a bit, but it is still expensive for drivers. From 143.15p per liter, unleaded gasoline primarily sells for 136.15p as of last week, while diesel has remained around 141p per Liter. However, such prices are still much higher than previous market price hikes.

The substantial levies the British government imposes are primarily responsible for fuel prices. In addition to the 20 percent Value Added Tax, the current fuel duty rate is 52.95p per Liter. This significant tax component guarantees that prices stay high despite fluctuations in the price of crude oil on global markets. Additionally, the exchange rate of the pound sterling vis-a-vis the US dollar also has a bearing on the…

A transformation is occurring globally in the pattern of energy sources with the rise of small nuclear reactors (SMRs) as the solution to clean, secure, and cost-effective energy. These power-efficient and small-sized reactors are becoming popular globally due to an increasing appetite for carbon-copy energy systems.

Among the several benefits associated with SMRs, these reactors can be assembled in factories and delivered to locations to be erected, thereby cutting the time and cost of building. Additionally, SMRs are less inclined to accidents since they are designed and built using passive systems. In addition, SMRs have a wide range of potential applications, including electricity generation, industrial usage, and district heating.

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Nuclear energy has been gaining traction in the global market, as have its requirements from big corporations. Texas has begun its revival phase as one of the front-runners in this new economic race. An expanding demand for nuclear energy, particularly in financial, rent-appropriate locations, has rediscovered uranium mines that were once inactive and opened up new places near the commencement of operations. It seeks more energy to power its enormous data and computing facilities, which drives uranium mining.

Uranium mining has a history; however, the recent history and political views are more critical. Texas has a long-standing infrastructure and knows how to do what needs to be done. It is only a question of when now.

Texas's appetite…

Mexico is progressing rapidly in the renewable energy sector, envisioning double its production by 2030. By 2024, 35% of electricity should come from clean sources, compared to 29% in 2022. With a focus on solar, geothermal, wind, and hydroelectric power sources, the country has set a target of achieving a 100% increase in its installed renewable energy capacity by 2030.

Based on the new targets, Mexico hopes that by 2024, 35% of electricity generated in the country will be from non-polluting sources, while in 2022, only 29% was so. The government expects to spend $48 billion on its renewable energy sector to accomplish this aim. Mexico is now Latin America's second-largest solar energy market, with an installed capacity of more than 7 GW…

Hydrogen trains signify an essential development in the world's efforts to decarbonize transport. А Hydrogen-powered trains emerged as the fastest way of mobility, with specific coverage and significant developments in several areas, signifying a worldwide switch towards the green railroad industry by 2024.

Hydrogen trains use hydrogen fuel cells to generate electricity that powers electric motors, and their only by-products are water vapor and heat. This makes them an attractive option for replacing diesel trains, for instance, in areas where it may be economically or geographically impossible to extend the electrification of the rail lines. Based on the Infrastructure Investment and Jobs Act, Wabtec has been awarded a federal grant of…

The automobile market has experienced a global slowdown since the beginning of 2024. However, the electric vehicle market plummeted over the period in 2024. Several constraints are behind the fall of electric vehicle sales, such as costly raw materials, inflation, and high vehicle costs.

The share of electric vehicles in total global car sales was approximately 13-15 percent, a decrease from the 18-20 percent and 14-16 percent growth figures posted in 2023 and 2022, respectively. According to industry projections, this trend is expected to continue in 2024.

The increasing cost of raw materials for EVs, including lithium-ion batteries, is the leading cause behind slow EV sales in 2024. The components, including lithium, cobalt, and nickel…

Ferro alloys play a crucial role in India’s steel industry. The manufacturing and production sector relies on ferro alloys to boost the nation's heavy industries and steel production. A survey of 2024 shows that the ferro alloys market is facing several challenges in 2024. Hence, it impacts ferro-alloys' global competitiveness due to high import tariffs, high power prices, and limited high-grade supplies to industries.

Indian economic growth relies heavily on its steel industry. Further, steel manufacturing includes ferro alloys as the primary product for more tensile strength and corrosion resistance. Adding ferro alloys to steel has even more benefits, such as refining. Therefore, ferro alloys growth in the Indian market can bring…

The global automotive industry faces multiple challenges in 2024. It is due to several other reasons apart from its affordability. Since the beginning of 2024, automotive trends have been evolving, shaking the balance of the automotive domain. A survey report of 2024 shows that the slow momentum of consumers towards the adaptability of electric vehicles may impact the green transition. Globally, the nations are focusing on transformation with renewable energies towards clean energy transition by the end of 2050. Around 50 percent of the improvement is expected to be achieved by 2030. Some leading nations, like Sweden and Denmark, are making it to the news headlines. However, the automotive sector has yet to expand its wing with e-mobility.

Europe's gas storage levels have been depleting at a faster pace over the years. In the last eight years, European gas storage has experienced a stunt decrease. The survey reports for 2024 show that the European region is experiencing depleting levels of gas storage due to several reasons. Research shows that the approaching winter of 2024 is the main driving factor behind reduced levels of European gas storage. Further, Europe's colder temperatures and reduced wind speeds are the essential factors behind the depletion of Europe's gas storage levels in 2024.

Reducing gas storage levels in Europe can lead to several other issues. Industries fear it can lead to gas shortages and increasing prices during the peak winter months in 2024. The…

Europe's wind power industry for the year 2024 seems to have antics of growth and probably other challenges while continuing with the shift towards the use of renewable energy. Development and investment activities like the European  Union's initiative Wind Power Package with enhanced policy backing resulted in the addition of around 6.4 GW of new wind power capacity during the year's first half. This package also seeks to expand supply chain capacity and ease administrative bottlenecks. For instance, Europe aspires to reach a target of 9.5 GW offshore turbines and 22.5 GW onshore turbines by 2025.

Nonetheless, the progress has been hampered by structural and economic factors. Increasing production costs, especially in steel and labor, and…

Artificial intelligence is driving all industries with cutting-edge technologies and solutions. In 2024, generative AI is transforming the markets from industrial to healthcare, technology, and others. Many reputed industrial leaders have stated that AI will transform lives in every industry sector upon the release of various gen AI tools. However, the new survey deviates from the earlier prophecies on AI's development. A study conducted in 2024 shows that not everyone in the lot is interested in AI tools.

AI is playing a crucial role in different industries. Further, gen AI's role seems to grow with users' affinity for its problem-solving feature. However, AI tools are not a part of many as the survey of 2024 estimates. It shows that 28…

Confectionary market is the robust-selling segment in the food and beverages industry. It is growing with new market trends in 2024. Confectionary industry is gaining momentum due to consumer’s growing preferences to delicacies of different desserts and sweets. A survey of 2024 shows that global confectionary market will account for USD 586.3 billion in 2024. Further, the confectionery market in anticipated to grow from 5.33 percent each year till next four years.

North America is the hub of premium confectionary trends globally due to its consumers base that demands a number of variations in the products and their taste. the major driving force of confectionary market is the region’s youth mass. Moreover, several health trends and in-home…

Geothermal energy production is multiplying in light of clean energy transition. Clean energy transition lays down several conditions to achieve a greener environment. Adopting renewable energy to replace fossil fuels brings geothermal energy into the market. Geothermal energy production in 2024 is expected to grow by 1900 percent by the end of 2050.