LONDON--(BUSINESS WIRE)--The global electricity retailing market is poised to grow by USD 329.9 billion during 2019-2023, progressing at a CAGR of almost 3% during the forecast period.
Read the 125-page research report with TOC on "Electricity Retailing Market Analysis Report by Application (industrial, commercial, residential, and others), by Geography (APAC, Europe, North America, and ROW), and Segment Forecasts, 2019 - 2023".
The market is driven by the growing popularity of electric vehicles (EVs). In addition, increasing innovation among players due to electricity retailing is anticipated to further boost the growth of the electricity retailing market.
The increasing popularity of electric vehicles (EVs) will be one of the major drivers augmenting the growth of the global electricity retailing market. To reduce the dependence on fossil fuels and control vehicle emissions, EVs sector is witnessing significant growth. Moreover, favorable government policies, that encourage vehicle owners and municipalities to purchase EVs for a clean environment will drive the growth of EVs. Also, the growing concerns about climate change and pollution along with strict government policies related to harmful emissions caused by vehicles will drive the popularity of EVs. Therefore, the growing demand for EVs will encourage the need for charging stations, which in turn will drive the electricity retailing market during the forecast period.
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Major Five Electricity Retailing Market Companies:
Centrica Plc
Centrica Plc owns and operates its business under various segments such as Centrica Consumer, Centrica Business, and Exploration & Production. The company offers competitive and reliable electricity and related services to retail and wholesale customers.
Duke Energy Corp.
Duke Energy Corp. operates its business under three segments, which include Electric Utilities and Infrastructure; Gas Utilities and Infrastructure; and Commercial Renewables. The company’s key offering is electricity generation and sales. The company provides electricity to millions of retail electric customers across the US.
Enel Spa
The product offerings of Enel Spa include electricity generation, distribution, and sales. Moreover, in September 2018, the company introduced a new range of products and services known as intelligent charging solutions. This range is designed for electric mobility focused on individuals, companies, and government organizations.
Huadian Power International Corp. Ltd.
Huadian Power International Corp. Ltd.’s key offerings include electricity generation and sale. The majority of electricity generated is supplied to the local power grid companies where the power plants are located.
Tata Power Co. Ltd.
Tata Power Co. Ltd. business operates under the following segments: Power and Others. The company’s key offering is electricity supply. The company generates, transmits, and distributes electricity across India. In January 2019, the company won the 3rd ICSI CSR Excellence Award for the year 2018.
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Electricity Retailing Application Outlook (Revenue, USD Million, 2019 - 2023)
- Industrial
- Commercial
- Residential
- Others
Electricity Retailing Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- ROW
- North America
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