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Economies Adopting Regulations to Promote Ancillary Services for Renewable Energy Penetration, Europe to Take Lead in Ancillary Services for Power Market: TMR

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News provided by

Transparency Market Research

16 Jul, 2020, 13:30 GMT

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  • Ancillary Services for Power Market to Garner a CAGR of ~8% from 2020 to 2030; Projects for Preventing Output Fluctuations for Renewable Energy Plants
  • Regulators Increasing Focus on Demarcating Energy Trade and System Imbalance for Real-time Electricity Market Opens New Avenue

ALBANY, New York, July 16, 2020 /PRNewswire/ -- Ancillary services occupy key role in maintaining the reliability of electricity grids and quality of power in the light of constant fluctuations in distributed power generation. Intermittent renewable energy integration, notably of wind and solar energy, is a key part of evolution of demand for ancillary services for power industry.

In 2019, the global valuation of the ancillary services for power market stood at ~US$ 7 bn in 2019. Clocking a CAGR of ~8%, it is expected to reach worth of ~US$ 16 bn by 2030-end.

Analysts at Transparency Market Research opine that new regulations have come to forefront in the wake of COVID-19 pandemic, which will shape the outlook of ancillary services for power market. Streamlining the processes in power bidding and deployment of smart meters will reduce uncertainty in distributed energy resources, affirm the analysts.

Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=42677

Key Findings of Ancillary Services for Power Market

  • Advancements in internet connectivity in ancillary services platforms help grid operators and service providers tap lucrative opportunities
  • Of the various services types, the operating reserve segment led the market in 2019
  • Of the various regions in ancillary services for power market, Europe accounts for the major revenue share; greening of grids offers the impetus for its growth
  • Asia Pacific to rise at promising pace on back of governments' efforts to adopt renewables in overall energy mix
  • Modernization of distribution grid help North America market to grow at impressive pace; the U.S. contributed the major share to the regional market in 2019

Explore 112 pages of top-notch research, incisive insights, and detailed country-level projections of Ancillary Services for Power Market (Service Type: Voltage Control & Reactive Power Support, Black Start, Load Following, Operating Reserve, Regulation Service, and Others) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/pressrelease/ancillary-services-power-market.htm

Ancillary Services for Power Market: Key Driving Factors and Promising Avenues

Increasing drive for integration of intermittent distributed generation of wind and solar energy is a key trend bolstering the uptake of ancillary services in the power sector in several parts of the world. Managing a variable power reserves reliably has driven the need for ancillary services for the power market. Numerous regulatory trends and macroeconomic factors have propelled the growth of the market.

  • Changes in regulations in the power sector are becoming prominent in the emerging COVID-19 pandemic in developing and developed nations. For one, India has seen a shift from long-term stakeholder engagement to short-term contracts to overcome problems in energy trade demarcations in real-time electricity markets. This has made ancillary services to gain traction in the power market.
  • Global electrification rate is markedly increasing around the world. In particular, countries in Asia Pacific and low and middle-income economies in Africa have witnessed a rapid rise in access to electricity over the past five years, driving the demand for ancillary services in the power market. Bangladesh, Myanmar, and Kenya have seen striking rise in electrification rate, supported by various government initiatives.
  • In developing regions, the governments are committed to promoting the modernization of grid where renewable energy penetration forms the key policy. A case in point is the African Renewable Energy Initiative (AREI). To facilitate this, there has been a remarkable growth in demand in the ancillary services for power market.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/42677

Ancillary Services for Power Market: Competitive Landscape

The presence of relatively large number of players both at regional and global level has raised the ante for new entrants and incumbents in the ancillary services for power market. Not only is the landscape intensely competitive, there exists a high degree of fragmentation.

Some of the players eyeing high stakes in the ancillary services for power market are PJM Interconnection LLC, Elia System Operator, Electric Reliability Council of Texas, Midcontinent Independent System Operator, Inc., General Electric, Transelectrica SA, and Snowy Hydro Limited.

Analyze Ancillary Services for Power Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Ancillary Services for Power Market: Key Impediments for Stakeholders

Ongoing COVID-19 pandemic has spurred stakeholders in electricity market to follow power trading and adopt an hourly demarcation in the ancillary services for power market. Consequently, this has created unique uncertainties in energy trade demarcations for distribution companies.

Further, voltage deviation in distributed energy processes is significant concern for players in ancillary services for power market, which demands a high degree of efficiency in ancillary services. Moreover, renewable energy plants also need to keep a check in output fluctuations, dampening the adoption of renewables in the overall energy mix in some nations.

Purchase Premium Research Report on Ancillary Services for Power Market @ https://www.transparencymarketresearch.com/checkout.php?rep_id=42677&ltype=S

Global Ancillary Services for Power Market

Ancillary Services for Power Market, by Service Type

  • Voltage Control & Reactive Power Support
  • Black Start
  • Operating Reserve
    • Spinning Reserve
    • Non-spinning Reserve
  • Load Following
  • Regulation Service
  • Others

Ancillary Services for Power Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,

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Polyaspartic Coatings Market - Global polyaspartic coatings market is projected to grow at a CAGR of more than 6.5% between 2019 and 2027. Rising demand for protective coatings for transportation structural maintenance to impede the deterioration process and elongate the service lives of infrastructures is fuelling the demand for polyaspartic coatings

Smart Fault Detection System for Power Transmission Market - The global smart fault detection system for power transmission market can be segmented based on the application and geography. This system can be applied mainly for substations, switching stations, circuit switchers, manual switches and remote controlled switches. Europe and North America are major markets for smart fault detection system for power transmission.

Micro Combined Heat and Power Market - Rising demand for advanced renewable technologies to reduce carbon presence and to maintain clean energy supply is one of the important factors boosting growth of the global micro combined heat and power market in coming years. Government stringent regulation toward the reduction of tax and subsidiary are some of the factors positively augmenting for the growth of the global micro combined heat and power market in coming years.

Temporary Power Systems Market - Temporary power systems market depend on flywheel energy storage, hydrogen fuel cells, batteries, and generators. Sometimes, the power is lost due to the grid failure, scheduled blackouts, extreme weather, and substation faults. Many emergency power systems are generator based in modern buildings. Generators are generally driven by diesel engines. Small buildings may employ gasoline-driven generators, while large buildings employ gas turbines.

Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

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