Global Electricity Ancillary Services Market Growth (Status and Outlook) 2023-2029

Global Electricity Ancillary Services Market Growth (Status and Outlook) 2023-2029

Electricity ancillary services refer to functions that help grid operators maintain a reliable electricity system. Ancillary services maintain the proper flow and direction of electricity, address imbalances between supply and demand, and help the system recover after a power system event. In systems with significant variable renewable energy (RE) penetration, additional ancillary services may be required to manage increased variability and uncertainty. Electricity ancillary services include a wide variety of electrical efficiency and safety nets, all focussed on ensuring the power system delivers enough output to meet demand yet remains stable.

LPI (LP Information)' newest research report, the “Electricity Ancillary Services Industry Forecast” looks at past sales and reviews total world Electricity Ancillary Services sales in 2022, providing a comprehensive analysis by region and market sector of projected Electricity Ancillary Services sales for 2023 through 2029. With Electricity Ancillary Services sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electricity Ancillary Services industry.

This Insight Report provides a comprehensive analysis of the global Electricity Ancillary Services landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Electricity Ancillary Services portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Electricity Ancillary Services market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electricity Ancillary Services and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electricity Ancillary Services.

The global Electricity Ancillary Services market size is projected to grow from US$ 7976.7 million in 2022 to US$ 14250 million in 2029; it is expected to grow at a CAGR of 8.6% from 2023 to 2029.

Global key players of Electricity Ancillary Services include PJM, ERCOT, CAISO, ISO-NE, Elia, etc. The top five players hold a share over 21%. Europe is the largest market, has a share about 39%, followed by North America and Asia-Pacific, with share 31% and 22%, separately. In terms of product type, Frequency Control is the largest segment, occupied for a share of 25%, and in terms of application, Industrial Electricity has a share about 66 percent.

This report presents a comprehensive overview, market shares, and growth opportunities of Electricity Ancillary Services market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Frequency Control
Reactive Power & Voltage Control
Black Start
Operating Reserve
Load Following
Others

Segmentation by application
Industrial Electricity
Residential Electricity

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
PJM
ERCOT
CAISO
ISO-NE
Elia
NYISO
Energinet
Snowy Hydro
Transelectrica
SPP
IESO
AESO
MISO

Please note: The report will take approximately 2 business days to prepare and deliver.