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

  • ID: 5134358
  • Report
  • July 2020
  • Region: Global
  • 132 Pages
  • Frost & Sullivan
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$3.40 Trillion to be Invested in Renewable Technologies As Energy Transition Gains Much Needed Momentum

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?
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1. Executive Summary

  • Executive Summary - Key Outcomes

2. Research Scope, Objectives, and Methodology

  • Research Scope
  • Key Questions this Study will Answer

3. The Decade Ahead for the Global Power Sector

  • Key Outcomes - The Decade Ahead for the Global Power Sector
  • Major Shifts Impacting the Evolution of the Power Sector in the 2020s
  • Renewables Take Centre Stage
  • Domination of Renewables - Electricity New Oil?
  • Decade of Decentralisation
  • A 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

4. The Decade Ahead for the North American Power Sector

  • The Decade Ahead for the North American Power Sector
  • 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

5. The Decade Ahead for the Latin American Power Sector

  • 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

6. The Decade Ahead for the European Power Sector

  • 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 (Excluding China) Power Sector

7. 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

8. The Decade Ahead for the Chinese Power Sector

  • 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

9. The Decade Ahead for the Indian Power Sector

  • 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

10. The Decade Ahead for the Middle Eastern and African Power Sector

  • 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

11. Growth Opportunities and Companies to Action

  • 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

12. The Last Word

  • Last Word
  • Legal Disclaimer
  • Appendix
  • List of Exhibits
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