Electricity Trading Market TOC
Part 03
Intraday, Market Value (USD Million), and CAGR & Y-o-Y Growth Trend, 2024-2037F
Options, Market Value (USD Million), and CAGR & Y-o-Y Growth Trend, 2024-2037F
Cross Analysis of Type w.r.t. End-Users (USD Million), 2024-2037
Cross Analysis of Type w.r.t. End-User (USD Million), 2024-2037
Cross Analysis of Type w.r.t. End-User (USD Million), 2024-2037
Electricity Trading Market size is expected to reach USD 212 billion by the end of 2037, growing at a CAGR 7.77% during the forecast period i.e., between 2024-2037. In the year 2024, the industry size of electricity trading was USD 81.89 billion. To cope with the growing urbanization of the world, cities are becoming increasingly strained. expanding populations. In addition to the other issues, cities are dealing with a lack of resources. Widespread blackouts, insufficient water supplies, poor government services, and a costly one. The cost of living, inadequate public transport, frequent traffic jams, and pollution. diminishing natural resources. To meet the specific challenges of urbanization, a framework called "SmartCities" brings together cutting-edge city planning, business plans, energy, and transport management as well as new technology. In 60 cities in India, the Smart Cities Mission is currently working on 160 initiatives aimed at providing solutions for resource efficiency.
By protecting consumers from price manipulation, fostering the development of renewable energy sources and encouraging their use, government regulations on energy efficiency are leading to electricity trading. The aim of these regulations is to develop a more cost effective and effective approach, which will benefit both producers and consumers. In addition, electricity exchanges are facilitating the distribution of renewables in a wider geographic area leading to improved utilisation and lower greenhouse gas emissions.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2037 |
|
CAGR |
7.77% |
|
Base Year Market Size |
USD 81.89 billion |
|
Forecast Year Market Size |
USD 212 billion |
|
Regional Scope |
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Application (Residential, Commercial, Industrial)
Based on application, the industrial segment is anticipated to hold the largest market share of USD 89.08 billion by the end of 2037. Industrial facilities purchase electricity from utilities or other supplies. The price of electricity can vary depending on multiple factors including the time of the day, the season, and the overall electricity demand. Industrial facilities can use a variety of strategies to manage their electricity costs such as buying electricity during off-peak hours or entering into long-term contracts with suppliers.
Type (Spots Contract, Future Contracts)
In terms of type, the spot outlook segment is set to hold the largest market share 117 billion by the end of 2037. The segment enables dynamic trading throughout the actual day of delivery. Participants can constantly buy and self-electricity throughout the day, with prices fluctuating in real time based on supply and demand. This is often done in hourly or half-hourly increments depending on the specific market.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Application |
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Asia Pacific Market Forecasts
The electricity trading market in the Asia Pacific region is set to hold the largest revenue share of USD 116 billion by the end of the forecast period. China, Vietnam, India and Indonesia are countries in the Asia Pacific region where urbanization and industrialization are taking place rapidly. Considering the movement of people from rural to urban areas the demand for power in the region is also changing. Energy consumption in the APAC region is anticipated to rise by 4.9% annually considering the notable escalation in the use of electricity in residential and industrial sectors. In addition, the demand for market in this region is growing as electric vehicles become more and more popular. For example, the growth of Thailand's electric vehicle industry is a major factor in developing an energy transition plan.
North American Market Statistics
The electricity trading market in the North American region is set to grow substantially registering growth of USD 42.95 billion by the end of 2037. The US Department of Energy announced in October 2023 an initiative to improve state and local participation in wholesale electricity markets with a total value of USD 9 million. The effort of the Wholesale Electricity Market Study and Engagement Programme is aimed at assisting States and Regional Organizations to develop, grow or improve their wholesale electricity markets by providing them with financial and technological support. This type of cooperation is expected to give interested parties an essential perspective on a number of undertakings, such as the construction of interregional transmission infrastructure. Moreover, state and regional energy companies as well as system operators can reduce their electricity costs through participation in wholesale markets which may result in lower customer charges.
Author Credits: Dhruv Bhatia
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