Growth Opportunities from Decarbonisation in the Global Power Market, 2019–2030

Growth Opportunities from Decarbonisation in the Global Power Market, 2019–2030

$3.40 Trillion to be Invested in Renewable Technologies As Energy Transition Gains Much Needed Momentum

RELEASE DATE
16-Jul-2020
REGION
Global
Research Code: MEB4-01-00-00-00
SKU: EG02083-GL-MT_24443

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Description

Powered by a strong momentum behind renewable energy, the power market is heading into the 2020s having come many-a-mile from the last decade. The 2020s will be a critical decade for one and all in the power industry, as the transition toward renewable energy is expected to increase in volume, while coal will take a downturn in most developed markets. Simultaneously, the shift towards electric vehicles is expected to create numerous opportunities for emerging business models and collaborations and partnerships between incumbents in the energy and mobility ecosystem. This research and analysis centres on some of the most important market trends across 5 major geographies—North America, Latin America, Europe, the Middle East, China, and India. The most significant trend observed across developed markets is the surge in need for flexibility, as system operators are coming under increasing pressure to manage the system with uncertain renewable output, declining coal output, and demand-side variability. As a result, technologies and solutions such as battery energy storage systems (BESS), gas engines, demand side response (DSR), and virtual power plants (VPP) are witnessing unprecedented adoption rates amongst utilities, solution providers, and end consumers, as these can also participate in flexible markets, including ancillary services. Moreover, the shift towards electric vehicles is expected to give rise to newer business models such as vehicle to grid (V2G), vehicle to home (V2H), and dynamic pricing, as consumers look to monetise their assets through market opportunities. Emerging countries, China and India, are expected to primarily depend on coal in the coming decade even though they continue to add renewable energy capacities to their respective grids. Coal plant utilisation, however, is likely to decline, especially during the day, as solar photovoltaic (PV) continues to penetrate in both markets. The Middle East, on the other hand, underpinned by the shift in energy policy, is starting to shift away from fossil fuels towards renewables, mainly solar PV and wind. Meanwhile, Latin America is set for a record decade, as electricity demand is forecast for above-average growth.

Through various conversations with market incumbents, Frost & Sullivan opines that the following 3 factors are vital for industry participants across the globe:
• Decentralization and Flexibility
• Emerging Business Models
• Collaborations and partnerships on various fronts such as digitisation, electric vehicles, and energy aggregation

Key Issues Addressed

  • What are the major trends impacting the power industry, and how will that impact turn out in the 2020s?
  • How is the flexibility market ecosystem developing, and which are the key participants of this ecosystem across Europe, North America, and Asia-Pacific?
  • What are the major changes one can expect to happen in the power supply mix by the 2020s?
  • How is the market for distributed and decentralised energy market currently evolving and how will the 2020s turn out to be?
  • What sort of opportunities are opening up as a result of the increasing need for flexibility across key western power markets?

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Executive Summary—Key Outcomes

Research Scope

Key Questions this Study will Answer

Key Outcomes—The Decade Ahead for the Global Power Sector

Key Outcomes—The Decade Ahead for the Global Power Sector (continued)

Major Shifts Impacting the Evolution of the Power Sector in the 2020s

Renewables Take Centre Stage

Domination of Renewables—Electricity the New Oil?

Decade of Decentralisation

Decade of Decentralisation—Key Growth Opportunities

Virtual Power Plants—A Key Component of Decentralised Energy

Virtual Power Plants—Ecosystem and Revenues

Growth in OPEX-based Business Models

Growth in OPEX-based Business Models—Driving Renewable Deployment

Digital Power—Driving Greater Efficiency in Power Assets

Digital Power—Driving Next-generation Service Solutions

Storage and EV Infrastructure Go Mainstream—Battery Deployments Surge

Storage and EV Infrastructure Go Mainstream—Boom in V2G and V2H

Energy Efficiency and Management—Demand Response a Key Solution

Energy Efficiency and Management—Vital to Reduce Building Energy Consumption

Hydrogen—An Economy of its Own in the Making

Hydrogen—An Economy of its Own in the Making (continued)

The Decade Ahead for the North American Power Sector

The Decade Ahead for the North American Power Sector (continued)

The Decade Ahead for the North American Power Sector (continued)

Major Trends Impacting the Future of the North American Power Sector

Renewables Dominate New Investment

Energy Efficiency Curbs Consumption Growth

Energy Storage Goes Mainstream

Flexibility is King

Microgrids Boost Resiliency

The Decade of Decentralisation

Market Trends Impact Analysis—North America

The Decade Ahead for the Latin American Power Sector

The Decade Ahead for the Latin American Power Sector (continued)

Major Trends Impacting the Future of the Latin American Power Sector

Renewables Dominate New Capacity Investment

Generation Becomes Local

Growth in Corporate Renewable Energy PPAs

Strong Electricity Demand Growth

Massive Investment in Transmission in Infrastructure Upgrades Expected

Electrification of Mobility

Market Trends Impact Analysis—Latin America

The Decade Ahead for the European Power Sector

The Decade Ahead for the European Power Sector (continued)

Major Trends Impacting the Future of the European Power Sector

Clean Energy Push Expected to Continue

The Decade of Decentralisation

Continued Pressure on Utility CXOs to Innovate and Transform Their Business Model

The Long Goodbye for Coal

Greater Need for Regulatory Intervention

Batteries Hit the Mainstream

Market Trends Impact Analysis—Europe

The Decade Ahead for the Asia-Pacific Power Sector

Major Trends Impacting the Future of the Asia-Pacific Power Sector

Coal Holds on in Asia

Strong Electricity Demand Growth Projected

Green Energy Growth Potential

Boom in Offshore Wind Power Expected

Boost for Microgrids Market Growth

Distributed Solar+Storage

Market Trends Impact Analysis—Asia-Pacific

The Decade Ahead for the Chinese Power Sector

The Decade Ahead for the Chinese Power Sector (continued)

Major Trends Impacting the Future of the Asia-Pacific Power Sector

Strong Investment in Renewable Energy

Diversification From Coal

Gas Increases Slowly

Increasing Market Opportunities for Decentralised Energy

Boosting Plant Operations Through Digital 4.0

China is Expected to Dominate the Global Lithium-ion Battery Market

Market Trends Impact Analysis—China

The Decade Ahead for the Indian Power Sector

Major Trends Impacting the Future of the Indian Power Sector

Strong Growth in Renewable Energy

Coal Remains Key for India

India’s Transmission Grid Under Strain

Economic and Policy Challenges for the Indian Power Sector

Growth in Microgrids

Early Days for Energy Storage

Market Trends Impact Analysis—India

The Decade Ahead for the Middle Eastern and African Power Sector

Major Trends Impacting the Future of the Middle-East and African Power Sector

Gas Remains King in the Middle East

Strong Growth in Solar

Nuclear Power on the Rise?

Surge in Decentralisation

Saudi Arabia in Transition

Push for Energy Conservation Measures

Market Trends Impact Analysis—The Middle East and Africa

Growth Opportunity 1—Risk-Gain Share Models and M&A: New Opportunities for Technology OEMs

Growth Opportunity 2—Expanding Current Solution Offering: New Opportunities for System Integrators and Installers

Growth Opportunity 3—Consumer to Prosumer: New Opportunities for End Users

Growth Opportunity 4—Market Entry to DER: New Opportunities for Utilities

Growth Opportunity 5—Expanding Solution Offering: New Opportunities for ESCOs

Strategic Imperatives for the Global Power Market

Last Word

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
Powered by a strong momentum behind renewable energy, the power market is heading into the 2020s having come many-a-mile from the last decade. The 2020s will be a critical decade for one and all in the power industry, as the transition toward renewable energy is expected to increase in volume, while coal will take a downturn in most developed markets. Simultaneously, the shift towards electric vehicles is expected to create numerous opportunities for emerging business models and collaborations and partnerships between incumbents in the energy and mobility ecosystem. This research and analysis centres on some of the most important market trends across 5 major geographies—North America, Latin America, Europe, the Middle East, China, and India. The most significant trend observed across developed markets is the surge in need for flexibility, as system operators are coming under increasing pressure to manage the system with uncertain renewable output, declining coal output, and demand-side variability. As a result, technologies and solutions such as battery energy storage systems (BESS), gas engines, demand side response (DSR), and virtual power plants (VPP) are witnessing unprecedented adoption rates amongst utilities, solution providers, and end consumers, as these can also participate in flexible markets, including ancillary services. Moreover, the shift towards electric vehicles is expected to give rise to newer business models such as vehicle to grid (V2G), vehicle to home (V2H), and dynamic pricing, as consumers look to monetise their assets through market opportunities. Emerging countries, China and India, are expected to primarily depend on coal in the coming decade even though they continue to add renewable energy capacities to their respective grids. Coal plant utilisation, however, is likely to decline, especially during the day, as solar photovoltaic (PV) continues to penetrate in both markets. The Middle East, on the other hand, underpinned by the shift in energy policy, is starting to shift away from fossil fuels towards renewables, mainly solar PV and wind. Meanwhile, Latin America is set for a record decade, as electricity demand is forecast for above-average growth. Through various conversations with market incumbents, Frost & Sullivan opines that the following 3 factors are vital for industry participants across the globe: • Decentralization and Flexibility • Emerging Business Models • Collaborations and partnerships on various fronts such as digitisation, electric vehicles, and energy aggregation--BEGIN PROMO--

Key Issues Addressed

  • What are the major trends impacting the power industry, and how will that impact turn out in the 2020s?
  • How is the flexibility market ecosystem developing, and which are the key participants of this ecosystem across Europe, North America, and Asia-Pacific?
  • What are the major changes one can expect to happen in the power supply mix by the 2020s?
  • How is the market for distributed and decentralised energy market currently evolving and how will the 2020s turn out to be?
  • What sort of opportunities are opening up as a result of the increasing need for flexibility across key western power markets?
More Information
No Index No
Podcast No
Author Vasanth Krishnan
Industries Energy
WIP Number MEB4-01-00-00-00
Is Prebook No
GPS Codes 9AFE-A4,9AFF-A4,9B00-A4,9851,9852,GETE