Global Electricity Ancillary Services Market Overview:
Electricity ancillary services are the various operations involved in power generation, transmission, and distribution of electricity needed to maintain grid stability and security. It is used in residential and industrial electricity operations, the services are categorized as frequency controlled and network controlled. Services include power flow control ancillary services, system restart ancillary services, voltage-controlled ancillary services, tertiary frequency control services, and others.
- Growing Industrialisation and Urbanisation Increasing the Need for Power Generation
- Demand for Proper Grid Management and Providing Reliable Electricity System
- Regulatory Guidelines and Standards Involved in Electricity Ancillary Services Market
- Surging Demand for Electricity Ancillary Services from the Developing Region Involved in Industrial Operations
- Stiff Competition in the Electricity Ancillary Services Market
Some of the key players profiled in the report are ABB Ltd (Switzerland), General Electric (United States), Siemens AG (Germany), Aker Solutions ASA (Norway), Next Kraftwerke (Germany), Transelectrica (Romania), Snowy Hydro Limited (Australia) and The Electric Reliability Council of Texas, Inc. (United States). Considering Market by Function, the sub-segment i.e. Synchronized Regulation will boost the Electricity Ancillary Services market. Considering Market by Service, the sub-segment i.e. Power Flow Control Ancillary Services will boost the Electricity Ancillary Services market.
On 3rd November 2020, Next Kraftwerke and Toshiba establish a Joint Venture for Virtual Power Plant Services. The two companies are now taking the next step in their cooperation. The new company aims at enabling others to provide balancing services for the owners of renewable energy assets and aggregators by using VPP technology.
"The draft Ancillary Services Regulations provide measures for maintaining grid frequency within the allowable band and for relieving transmission congestion to support reliable and stable operation of the grid, besides procurement and commercial mechanism for Secondary Reserve Ancillary Services (SRAS) and Tertiary Reserves Ancillary Services (TRAS). The Ancillary Services other than SRAS and TRAS shall be governed by the Grid Code or as specified by the Commission separately."
What Can be Explored with the Electricity Ancillary Services Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Electricity Ancillary Services Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Electricity Ancillary Services
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Electricity Ancillary Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Electricity Ancillary Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Electricity Ancillary Services Providers, Electricity Ancillary Services Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Electricity Ancillary Services Market?
The Electricity Ancillary Services market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Electricity Ancillary Services Market?
Top performing companies in the Global Electricity Ancillary Services market are ABB Ltd (Switzerland), General Electric (United States), Siemens AG (Germany), Aker Solutions ASA (Norway), Next Kraftwerke (Germany), Transelectrica (Romania), Snowy Hydro Limited (Australia) and The Electric Reliability Council of Texas, Inc. (United States), to name a few.
3. What trending factors would impact Electricity Ancillary Services Market growth most?
"Increasing Usage of Frequency Controlled Electricity Ancillary Services" is seen as one of major influencing trends for Electricity Ancillary Services Market during projected period 2020-2026.