(MENAFN- America News Hour)
The electricity trading market is projected to grow with a moderate CAGR during the forecast period, i.e., 2020-2029 on account of the increasing demand for electricity in every industry vertical. Owing to the growing investment of governmental and non-governmental agencies in industrialization.
As per the India brand equity foundation, India ranked sixth in the list of countries to make significant investments in renewable energy by allotting US$ 90 billion between 2010-2020.
Research Nester released a report titled
“ electricity trading market : Global Demand Analysis & Opportunity Outlook 2029′′
which delivers detailed overview of the electricity trading market in terms of market segmentation by type and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market is segmented by type into the day ahead trading and intraday trading among these segments. The day ahead trading segment is anticipated to hold the largest share by the end of 2020 in the electricity trading market; thus, electricity generators can schedule slower units better to meet forecast demand. Moreover, the day ahead trading increases the system reliability by providing sufficient notice for expected plants. Additionally, it reduces uncertainty in real-time market prices because a smaller generation is exposed to real-time price volatility.
On the basis of application, market can be segmented into industrial, commercial, residential and others. Out of which industrial section holds the highest revenue due to increase in industrial investments.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the electricity trading market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing adoption of blockchain technology which enables the peer to peer electricity trading and the rising demand for the renewable and consistent electricity supply facilitate the electricity trading market growth in Asia Pacific region over the forecast period.
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Increasing Investment and Usage of Advanced Technologies o will Drive Market Growth
Electricity trading is the process of power generators selling the electricity they generate to power suppliers, who can then sell this electricity on to consumers. It lets participants to sell and buy wholesale electricity during the course of operating day.Rising adoption of energy storage systems, the sporadic nature of electricity generated from the renewable energy sources resulting in the increasing demand of electricity trading, rising adoption of renewable energy, increasing use of technologies such as blockchain technology is used for peer to peer electricity trading are some of the key drivers.
The repot of
China Electricity Council states that, from January-April, 2019, consumption of electricity in China surpassed 2.23 trillion kWh, reflecting a 5.6% year-on-year increase. Electricity consumption for the month of April 2019 amounted to 553.4 billion kWh - a year-on-year increase of 5.8%.
This report also provides the existing competitive scenario of some of the key players of the electricity trading market which includes company profiling of Danske Commodities, Energy Trading Company, European Energy Exchange AG, The Indian Energy Exchange, Next Kraftwerke GmbH, Statkraft AS, Japan Electric Power Exchange. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the electricity trading market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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