The global electricity trading market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2020-2029. Extensive research associated with electricity trading in western countries, along with the rising adoption of energy storage systems is expected to fuel the progress of the electricity trading market. The growth of the market can also be attributed to factors such as the sporadic nature of electricity generated from the renewable energy sources. According to the report of India Brand Equity Foundation growing population along with electrification and per capita usage will provide further impetus. The electricity consumption is estimated to reach 1,895 TWh during the forecast period. Covid-19 has a prominent impact on the sector, particularly by leading to a reduction of demand, financial stress, and disruptions to the power supply chain.
The market is segmented based on type into day ahead trading and intraday trading out of which, the day ahead trading segment is anticipated to grab the largest share by the end of 2022 on account of enhanced market efficiency, environmental benefits, better risk management, customer service improvements, and market power mitigation are some factors projected to contribute to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing adoption of renewable energy and the rising demand for the energy storage systems for maintaining the balance between supply and demand of electricity to the grid facilitate the electricity trading market growth in Asia Pacific region over the forecast period. According to the China Electricity Council, 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%.
The global electricity trading market is further classified on the basis of region as follows:
Our in-depth analysis of the global electricity trading market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising adoption of energy storage systems and the irregular nature of electricity generated from the renewable energy sources resulting in the increasing demand of electricity trading are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2020-2029.
Self-generation of electricity and growth in adoption of microgrids are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing adoption of renewable energy and the rising demand for the energy storage systems.
The major players dominating the electricity trading market are Danske Commodities, Energy Trading Company, European Energy Exchange AG, The Indian Energy Exchange, Next Kraftwerke GmbH, and Statkraft AS, Japan Electric Power Exchange among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, and region.
With respect to type, the day ahead trading segment is anticipated to grab the largest share by the end of 2020 on account of enhanced market efficiency, environmental benefits, better risk management,
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