BURNABY, Canada, May 6, 2015 /PRNewswire/ --
Power failure and breakdown of transmission lines coupled with rising demand for electricity to propel demand for power ancillary services in United States
According to recently published TechSci Research report "United StatesPower Ancillary Service Market Forecast & Opportunities,2020", the United States power ancillary service market is projected to grow at a CAGR of 8% through 2020. Power ancillary services are required, to avoid sudden changes in demand and supply of power so as to avoid situations like blackouts. These services are used to control voltage and frequency fluctuations, which is vital for ensuring grid stability. On account of increasing concerns for grid stability and voltage & frequency mismatch, spinning down power ancillary service is anticipated to witness robust growth whereas the share of spinning up power ancillary service is expected to marginally decline over the next five years.
Growing demand for electricity coupled with increasing transmission breakdown and power failure issues is augmenting demand for power ancillary services provided by Interstate Transmission organizations and Regional Transmission organizations in the US. Consequently, in order to bridge the sudden gap between demand and supply for electricity and to allow grid synchronization and avoid voltage fluctuations, the demand for power ancillary services is expected to grow through 2020.
"The power ancillary service market is growing in the US with a rising number of independent power producers and consumers. This is making the requirement for grid synchronization and system frequency stability extremely critical, thereby boosting the requirement for power ancillary services in the US.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"United States Power Ancillary Service Market Forecast &Opportunities, 2020" has analyzed the potential of power ancillary service market and provides statistics and information on market size, services analysis regulation and spinning reserves for the power ancillary service industry. The report would suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
Sales & Marketing Consultant
Contact Phone - +1 646 360 1656
SOURCE TechSci Research