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Digitalization Set to Shake Up the Energy and Building Segments as Key Participants Strive to Stay Competitive
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The main objectives of this study are to provide an inclusive perspective of the energy and environment value chain, to understand the competition, and to analyze future business models. Growth opportunities are also discussed.In 2019, oil and gas (O&G) capital expenditure (CAPEX) in exploration and production (E&P) is expected to grow by 7% to account to nearly $600 billion. Nonetheless, the year is likely to end with a lower average Brent crude oil price than 2018. On the other hand, the midstream sector, especially LNG, will be the biggest beneficiary of the improved industry sentiment and also as an enabler of a low-carbon future. Double-digit growth in overall expenditure can be expected in 2019. Renewable energy will continue to be prominent, with a positive outlook for wind power generation, as many countries such as Taiwan, China, South Korea, and Japan move toward offshore farms. While renewable energy continues to thrive, the coal industry will witness a neutral outlook, as some countries scrap plans to build new plants, while Japan and China continue to build new plants. Energy storage and batteries will emerge as key sectors in 2019, as more than 70% of the global Li-ion batteries will be manufactured in mega factories in China. Furthermore, new business models in the microgrid segment will shake up the energy industry in 2019.The building industry in Asia-Pacific will be driven by a new Smart City framework in the ASEAN region. Formation of a consortium by Chinese technology giants is expected to create traction for smart cities development. In India, more than 300 smart city projects worth $2 billion are expected to undergo tendering in 2019. The evolution in building services means that suppliers with digital solutions for maintenance and services will gain acceptance in the marketplace. In particular, the facility management (FM) market will witness good growth, at 4.1% in 2019. Key FM markets include China, India, Indonesia, Thailand, and Vietnam. The evolving use of facilities, such as artificial intelligence (AI) and co-working space, leads to a different FM demand, with high emphasis on end user experience and operational efficiency.2019 will be the year for improvements in water management, as utilities strive to be more resilient to water scarcity due to extreme weather conditions. CAPEX of APAC water utility will expand by 9.8% in 2019, with key focus on urban water management that adapts to extreme weathers. This includes replacement of pipes and drainage, new reservoirs, and expansion of treatment plants.Overall, the growth opportunities in Asia-Pacific’s energy and environment industry will focus on collaborations with start-ups, use of AI and blockchain, and sustainability themes.Author: Melvin Leong
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