Coming in the Autumn issue: Executive Roundtable
21 September 2021
For our Autumn magazine, Diesel & Gas Turbine Worldwide asked officials at key companies within the large engine and turbine industries to weigh in on a series of questions intended to provide a high-level view of the conditions, challenges and opportunities they see in the marketplace.
Here’s an excerpt from Prof. KangKi Lee, senior vice president, High Power Systems, AVL List GmbH.
Question: Industry-wide, what recent developments—technological, economic, regulatory or other—do you think will have the greatest impact on business in the next year or so?
Lee: No doubt the complete subject of energy transition and emission reduction has the biggest impact both on our business as well as on society in general.
The reduction of greenhouse gas emissions across all industries, such as power generation, mobility and all kind of industrial processes will have the greatest impact on our business. Electrification is a megatrend which comes on top of increased power needs of developing countries. For GHG reduction the use of renewable energies is a must. The challenge will be whether renewables alone can cope with the increasing demand. Storage technologies will be vital to secure power availability when relying on intermittent sources, but also CCS and CCU may be required to meet GHG reduction targets. CO2 pricing is a prerequisite for some technologies and will accelerate the realization of others.
All three aspects from regulations through technology to economic changes will be combined.