Global Power Grid Services Market Growth (Status and Outlook) 2024-2030

Global Power Grid Services Market Growth (Status and Outlook) 2024-2030

Power grid services also called power grid services, Power grid services ensure a proper operation of the power grid. The grid operators (transmission grid operators and distribution grid operators) are responsible for ancillary services. To ensure a reliable power supply, it is necessary that frequency, voltage, and power load remain within certain limits. This does not happen automatically, but through continuous corrections: namely, ancillary services. The most renowned service is probably the frequency control/balancing energy. Even in the event of a blackout, ancillary services help restart the power grid as quickly as possible. Power Grid 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.

The global Power Grid Services market size is projected to grow from US$ 9849 million in 2024 to US$ 16060 million in 2030; it is expected to grow at a CAGR of 8.5% from 2024 to 2030.

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

This Insight Report provides a comprehensive analysis of the global Power Grid 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 analyses the strategies of leading global companies with a focus on Power Grid Services portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Power Grid Services market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Power Grid 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 Power Grid Services.

Global 3 key players of Power Grid Services are PJM, ERCOT and Energinet, with about 16% market shares. Europe is the largest market, which has a share about 37%, followed by Asia-Pacific and North America, with share 35% and 22%, separately. In terms of product type, reactive power & voltage control is the largest segment, accounting for a share of 26%. And in terms of application, industrial electricity is the largest, followed by residential electricity.

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

Segmentation by Type:
Frequency Control
Reactive Power & Voltage Control
Black Start
Operating Reserve
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

Segmentation by Type:
Frequency Control
Reactive Power & Voltage Control
Black Start
Operating Reserve
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.