Ancillary Services Power Market Overview

Maximize Market Research, a leading international business consultancy firm, has released its highly anticipated "Ancillary Services Power Market" Report, providing crucial insights into the market's potential in the Asia Pacific region. Despite economic challenges post the Covid lockdown period, the market has showcased resilience and an upward trend. The report positions the Asia Pacific region as a lucrative opportunity for Ancillary Services Power market and its component manufacturers over the next decade.

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Ancillary Services Power Market Values

Ancillary Services Power Market size was valued at US$ 1.76 Bn in 2023 and is expected to reach US$ 8.68 Bn in 2030. The Global Ancillary Services Power Market is expected to grow at a CAGR of 25.6% through the forecast period.

Ancillary Services Power Market Scope

Import and export consumption, supply and demand chain, costs, shares, sales volumes, revenues, and gross profits are covered in the Ancillary Services Power market analysis report. The manufacturing bases, capacity, production, factory prices, revenues, and market share of each manufacturer in the Ancillary Services Power market are examined in the report.

Ancillary Services Influence Market Trends

Transportation Electrification Powering the Market for Ancillary Services

Ancillary services are handling the surge in electricity demand from infrastructure used for EV charging and guaranteeing that the grid can manage the distinct load profiles brought about by the widespread use of EVs. As the world moves towards electrified transportation, microgrid integration becomes more crucial. Electric vehicles (EVs) are becoming more and more popular because of their benefits to the environment and ability to reduce greenhouse gas emissions. By putting energy storage technologies—like lithium-ion batteries—into practice, one can effectively mitigate the erratic nature of renewable energy sources and promote the smooth incorporation of variable generation.

Ancillary Services Power Market Segmentation

by Type

Frequency Controlled Ancillary Services
Network Controlled Ancillary Services

Based on Type: Network Controlled Ancillary Services and Frequency Controlled Ancillary Services make up the two segments of the market. In 2023, the Ancillary Services Power Market share that was largest was held by the Frequency Controlled Ancillary Services sector. The frequency-controlled ancillary services balance load and power generation in real time to maintain the required frequency. Primary frequency control, secondary response, and tertiary frequency control are the three degrees of frequency control. Frequencies fluctuate due to a changing strain on the power supply caused by the growing demand for electric gadgets and appliances. The frequency-controlled auxiliary services market is expanding at a rapid rate over the projection period due to advances in this sector.

by Service

Voltage Control & Reactive Power Support
Black Start
Operating Reserve
Load Following
Regulation Service
Other Service

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Ancillary Services Power Market Key Players

Global:
1.General Electric [Fairfield, Connecticut, USA]

North America:

1. New York Independent System Operator [New York, USA]
2. Independent Electricity System Operator [Ontario, Canada]
3. Midcontinent Independent System Operator, Inc. [Carmel, Indiana, USA]
4. Electric Reliability Council of Texas [Taylor, Texas, USA]
5. Southwest Power Pool, Inc. [Little Rock, Arkansas, USA]
6. Snowy Hydro Limited [Australia - note: originally Australian, but included here for convenience as it operates globally]

Europe:
1.Elia [Brussels, Belgium]

Asia Pacific:
1.Transelectrica SA [Bucharest, Romania]
2.Alberta Electric System Operator [Calgary, Alberta, Canada]

Table of content for the Ancillary Services Power Market includes: 

Part 01: Executive Summary

Part 02: Scope of the Ancillary Services Power Market Report

Part 03: Global Ancillary Services Power Market Landscape

Part 04: Global Ancillary Services Power Market Sizing

Part 05: Global Ancillary Services Power Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Analysis

The Ancillary Services Power market report comprises an extensive analysis of the Ancillary Services Power industry across five primary world regions are Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. It delves into the market's key geographies and highlights notable segments and sub-segments within the industry.

Key Questions answered in the Ancillary Services Power Market Report are:

  • What is Ancillary Services Power Market?
  • What is the forecast period of the Ancillary Services Power Market?
  • What is the competitive scenario of the Ancillary Services Power market?
  • Which region held the largest market share in the Ancillary Services Power Market?
  • What are the opportunities for the Ancillary Services Power Market?
  • What are the restraining factors in the Ancillary Services Power market?
  • Who are the key players of the Ancillary Services Power market?

Key offerings:

  • Market Share, Size, and Forecast by Revenue|2022-2029
  • Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
  • Market Segmentation: A detailed analysis by Ancillary Services Power
  • Landscape- Leading key players and other prominent key players.

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