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Global Nanotechnology in Energy Applications Market Expected to Grow at 49.2% CAGR

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Nov 20 2014

Research and Markets has announced the addition of the "Global Nanotechnology in Energy Applications Market 2014-2018" report to their offering.

The Global Nanotechnology in Energy Applications market is expected to grow at a CAGR of 49.2%

The study and control of substance and processes at the nanoscale is known as nanotechnology. This field is cross-disciplinary in nature with applications in medicine, biology, material science, chemistry and physics. This technology is quite useful in utilizing conventional energy sources in a more efficient, safe and environment friendly manner. It also helps to tap into the full potential of renewable energy sources including biomass, solar, wind and geothermal power. Nanotechnology can be used in other energy applications such as reduction in losses during power transmission and managing complex power grids with frequently changing loads and decentralized feed-in stations.

One of the key trends upcoming in this market is the increased energy demand, due to which alternative sources of energy are being explored. Since, the use of nanotechnology can greatly help in increasing the efficiency of current power generation plants the future of this market looks bright.

According to the report, one of the major drivers in this market is increasing advances in technology in the nanotechnology field. The advances in the field of nanotechnology have opened up the possibilities of moving beyond the current options for energy supply.

Further, the report states that one of the major challenges in this market is environmental, health, and safety risks due to the usage of nanotechnology. The changes made in different materials at the nano level may cause some unknown harmful effects on human beings.

The Global Nanotechnology in Energy Applications market can be segmented into three major applications: