Electricity Trading Market by Type and Geography - Global Forecast and Analysis 2019-2023
Global Electricity Trading Market: About this market
Technavio’s electricity trading market analysis considers sales from both day-ahead trading and intraday trading. Our analysis also considers the sales of electricity trading in America, APAC, and EMEA. In 2018, the day-ahead trading segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as enhanced market efficiency and better risk management will play a significant role in the day-ahead trading segment to maintain its market position. Also, our global electricity trading market report looks at factors such as rise in vendor collaborations, increase in cross-border power trading, and growth in the adoption of energy storage systems. However, uncertainties in the self-generation of electricity and growth in adoption of microgrids, increase in the number of PPAs, and challenges associated with forward markets may hamper the growth of the electricity trading industry over the forecast period.
Global Electricity Trading Market: Overview
Growth in adoption of energy storage systems
Energy storage systems are used to smoothen the intermittent supply of energy from renewable energy sources and allow the production of high-quality electricity from renewable energy sources. The demand for energy storage systems will also grow with the increasing share of renewable energy in the energy mix. Rise in the adoption of renewable energy for power generation along with an increase in the demand for energy storage systems will lead to the expansion of the global electricity trading market at a CAGR of almost 10% during the forecast period.
Use of blockchain for P2P energy trading
Peer-to-peer (P2P) energy trading is a new exchange system which allows individuals to share their surplus renewable energy with the local community at a given price. P2P energy trading is cost-effective for the peers involved in it as they become prosumers (they produce and consume the energy), and there is no middleman intermediary involved, which leads to higher flexibility and lower costs. The energy is tokenized, and each block on the blockchain reserves the contract between the power buyer and producer of the energy traded. Hence in the long term, consumers may not need to depend on major energy providers for electricity. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global electricity trading market during the forecast period 2019-2023, click here.
With the presence of several major players, the global electricity trading market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electricity trading manufacturers, that include ASX Ltd., European Energy Exchange AG, Indian Energy Exchange Ltd., Japan Electric Power Exchange, Next Kraftwerke GmbH.
Also, the electricity trading market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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