Global Electricity Retailing Market 2019-2023
Global Electricity Retailing Market: About this market
Electricity retailing is the final sale of electricity to end-users for consumption. Technavio’s electricity retailing market analysis considers sales from segments, including industrial, commercial, residential, and others. Our analysis also considers the sales of electricity retailing in APAC, Europe, North America, and ROW. In 2018, the industrial segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the large-scale productions of electricity will play a significant role in the industrial segment to maintain its market position. Also, our global electricity retailing market report looks at factors such as the increased focus on renewable energy, the growing popularity of EVs, and better competitive cost for consumers. However, state-owned monopolistic power supply network in emerging markets, inadequate regulatory infrastructure, and electricity self-generation and growing adoption of microgrids may hamper the growth of the electricity retailing industry over the forecast period.
Global Electricity Retailing Market: Overview
Growing popularity of EVs
The growing focus on the reduction of vehicle emissions and dependence on fossil fuels is increasing the demand for EVs. This is driving the need for charging stations and expanding the market opportunities for electricity retailers. The growing demand for EVs will lead to the expansion of the global electricity retailing market at a CAGR of almost 3% during the forecast period.
Electricity retailing is driving innovation among players
Factors such as M&As, innovations, and technological developments in the power generation sector are increasing the popularity of EVs and self-generation of energy. This is enabling electricity and gas retailers to gain an edge over their competitors as they are focusing on deploying smart meter infrastructure. This is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global electricity retailing market during the forecast period 2019-2023, click here.
With the presence of several major players, the global electricity retailing 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 retailing manufacturers, that include Centrica Plc, Duke Energy Corp., Enel Spa, Huadian Power International Corp. Ltd., and Tata Power Co. Ltd. Also, the electricity retailing 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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