United States Power Ancillary Service Market is expected to grow at a robust CAGR of 6.14%
United States Power
Ancillary Service Market is expected to grow owing to regulations and policies,
including those related to pipeline infrastructure and environmental compliance
throughout the forecast period.
According to TechSci
Research report, “United
States Power Ancillary Service Market – By Region, Competition, Forecast and Opportunities, 2018-2028”,
the United States Power Ancillary Service Market is expected to
register robust growth during the forecast
period. Stringent energy efficiency standards and regulations set by
governmental bodies, such as the U.S. Department of Energy (DOE), Environmental
Protection Agency (EPA), and others, drive the adoption of high-efficiency
electric motors. Compliance with these standards is crucial for manufacturers
to meet market requirements. Growing awareness of environmental sustainability
and energy efficiency is driving demand for high-efficiency electric motors.
Opportunities lie in offering motors that meet or exceed energy efficiency
standards, such as those defined by the Energy Independence and Security Act
(EISA) and NEMA Premium efficiency levels. The electric vehicle market is
expanding, presenting opportunities for electric motor manufacturers. Motors
for EVs, including traction motors, are in high demand. As the automotive
industry shifts towards electrification, supplying efficient and
high-performance electric motors becomes a key opportunity. Government
incentives and regulations promoting energy efficiency and the adoption of
electric vehicles can drive opportunities in the electric motors market.
Manufacturers that align their products with regulatory standards may benefit
from supportive policies.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "United States Power Ancillary Service Market."
Based on service type, the Frequency Controlled Ancillary
Services segment is expected to dominate the market during the forecast period.
The FCAS segment has seen technological advancements, with the integration of
advanced control systems, smart grid technologies, and energy storage
solutions. These technologies enhance the efficiency and responsiveness of
frequency control measures, allowing for quicker and more accurate adjustments
to changes in the grid. Market mechanisms for FCAS may involve both regulation
and deregulation models. In a deregulated market, FCAS providers may
participate in competitive markets, offering their services to grid operators
and utilities. In a regulated environment, grid operators or specific entities
may be responsible for procuring FCAS to ensure grid stability. Policies and
regulations, both at the federal and state levels, can significantly impact the
FCAS segment. Changes in energy policies, renewable energy targets, and grid
reliability standards can influence the demand for FCAS and shape market
dynamics.
Based on application, the Frequency
Regulation segment is projected to dominate the market throughout the forecast
period. Some electric motors, especially those used in industrial applications,
can be part of demand response programs. During periods of high demand or
frequency imbalances, these motors can be adjusted to reduce their load,
providing a quick response to grid needs. The regulatory environment, including
energy policies and grid codes, can influence the integration of electric
motors into frequency regulation strategies. Regulatory support for demand
response initiatives and flexible load management can drive the adoption of
electric motors for frequency regulation purposes. As part of broader grid
modernization initiatives, electric motors can be strategically deployed to
contribute to frequency regulation objectives. Modernization efforts often
involve the incorporation of smart technologies and control systems to optimize
the performance of electric motors in response to grid dynamics.
Key market players in the
United States Power Ancillary Service Market are:-
- AES Corporation
- Duke Energy Corporation
- Exelon Corporation
- California Independent
System Operator (CAISO)
- PJM Interconnection
- ERCOT (Electric Reliability Council
of Texas)
- General Electric (GE)
- Siemens Energy
- NextEra Energy
- Invenergy
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“The United States Power
Ancillary Service Market in South US is poised to be the dominant force in the
industry. Certain states in the South, such as Texas, are home to
energy-intensive industries. The demand for electric motors in these sectors,
including oil and gas, may be influenced by economic conditions, energy prices,
and regulatory policies. State-specific regulations and energy policies can
impact the adoption of energy-efficient electric motors. Incentives and
mandates promoting energy efficiency may influence the market dynamics.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“United States Power
Ancillary Service Market Segmented By Service Type (Frequency Controlled
Ancillary Services, Network Controlled Ancillary Services and Others), By
Application (Frequency Regulation, Voltage Compensation, Renewable Integration,
Operational Management and Others), By End-User (Residential, Commercial and
Industrial), By Region, and By Competition, 2018-2028,” has evaluated the future growth
potential of United States Power Ancillary Service Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United States Power Ancillary Service Market.
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