Power & Energy
With the progression of global warming and climate change, the power and energy industry has begun to shift its mindset from its current situation. Gas, oil, and electricity being the three primary source of energy for the country, but the fluctuation in prices have caused the industry to shrink and slow down in the recent years. With a new trend of the 4D in the industry; Democratization of energy, Decarbonization, Diversity, and Digitalization, it is said that these factors are crucial for the forecast of the energy industry.
Mindset toward a more eco-friendly, “going green” environment is on the forefront of not only the industry, but the population, so renewable energy has been a sector of focus over the years. However, with prices of renewable energy being higher than other resources, the demands for it hasn’t been as promising.
However, since energy is something that we absolutely need in our lives for survival, and a clean environment is something that needs to be strived for, the future outlooks of the industry may seem steady, but it still may be a bit further into the future until the energy industry can be “revolutionized”.
Housing and Real Estate
The fourth largest industry/market in the country after automotive, construction and the medical industry, the real estate market has steadily grown/expanded over the years. With the Tokyo Olympics Games only a couple of years away, the government has strategized to develop this central area more leading up to the event, planning on building larger buildings over the next couple of years.
However, in the country of declining population, the housing market has been a bit of a different story. Its residential needs have differed, and the Japanese government pushes for the sale of newly built homes rather than the reselling of second-hand homes for the reasons of macroeconomic effects gained from new land development. This has shifted the mindset of house building from stead and sturdy to fast and inexpensive.
While real estate markets have successfully accommodated and adjusted to these changing environments, they face other challenges in the demographic of the market, as well as the digital transformation over the recent years. The fact that the transformation of the digital platform has made looking for homes whether renting or buying one an easier ordeal, the real estate companies must meet the needs through all mediums. 2020 seems to be the a peak in a sense for the Japanese real estate market, but in the international market, companies like Mitsui and Mitsubishi have expanded their locations throughout North America, Europe and Asia. The very question for the survival in the industry possibly faces the matter of whether companies can further expand their offices overseas.
