Global Retail Electricity Market: Introduction

  • Electricity generated by utility plants and other renewable energy sources is sold in the wholesale market, which includes electricity utility companies, competitive power providers, and electricity marketers. This electricity is then sold to the retail market, i.e. to end-users. In these electricity transactions, the demand of electricity is maintained and distributed by the market operator.
  • In the retail electricity market, end-use customers can choose their suppliers from competing electricity retailers. This leads to cost savings and better customer service. Rise in competition is expected to boost the demand for renewable energy in the near future. Thus, the global retail electricity market is expected to expand steadily throughout the forecast period.

Key Drivers and Restraints of Global Retail Electricity Market

  • Rise in demand for retail electricity in order to expand the energy access to several unserved and underserved areas is considered one of the important factors estimated to fuel the global retail electricity market in the next few years. Additionally, stringent government regulations focusing on reducing the environmental and health impact of electricity service are likely to boost the market in the next few years. Key players in the market are striving to develop reliable and cost-effective power utilities. This is expected to contribute extensively to the growth of the global market in the near future.
  • The global retail electricity market is anticipated to face several challenges in the next few years, owing to the entry of new sources of distributed generation. This is estimated to result in potential threat to the existing market players operating in the global retail electricity market. Nonetheless, robust expansion of energy access is projected to generate lucrative opportunities for the global retail electricity market in the next few years.

Global Retail Electricity Market: Segmentation

  • In terms of end-user, the retail electricity market can be classified into residential, commercial, and industrial. In terms of demand, residential and commercial segments are likely to expand significantly during the forecast period.

Global Retail Electricity Market: Regional Outlook

  • Based on region, the global retail electricity can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Europe is expected to lead the global retail electricity market, as the region is considered to be the most active on the basis of electricity trading. This region is anticipated to register a healthy growth rate throughout the forecast period, owing to the significant contribution from Austria, Germany, Switzerland, and France. On the other hand, the market in North America is anticipated to witness strong growth in the next few years, due to the robust development of the over-the-counter trading market in the U.S.
  • Asia Pacific is projected to generate lucrative opportunities for prominent players operating in the retail electricity market across the globe. Widespread retail electricity trading facilities established in Malaysia, China, Singapore, India, and Australia are estimated to augment the market in Asia Pacific in the next few years. Untapped opportunities in several developing economies are also likely to propel the global retail electricity market in the next few years.

COVID-19 Impact on Global Retail Electricity Market

  • Demand for electricity decreased considerably during the initial phase of the COVID-19 pandemic due to nationwide lockdowns across the globe. Global demand for electricity among industrial and commercial end-users was significantly affected due to the closure of non-essential manufacturing units. However, demand for electricity increased among residential end-users. Relaxations in lockdown and rise in manufacturing activities are likely to propel the demand for electricity across the globe. Thus, the global retail electricity market is expected to expand significantly in the near future.

Key Players Operating in Global Retail Electricity Market

  • Enersource Corporation
  • Hydro One, Inc
  • R&M Electrical Group Ltd.
  • Constellation Energy Resources, LLC.
  • 4Change Energy
  • AEP Energy
  • Sumitomo Corporation
  • Ambit Energy
  • Amigo Energy
  • Beyond Power
  • Bounce Energy

Global Retail Electricity Market: Research Scope

Global Retail Electricity Market, by End-user

  • Residential
  • Commercial
  • Industrial

Global Retail Electricity Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Retail Electricity Market