The retail electricity market has experienced rapid growth, with its size increasing from $46.08 billion in 2023 to $53.2 billion in 2024, at a compound annual growth rate (CAGR) of 15.4%. This growth can be attributed to deregulation of electricity markets, advancements in energy technology, rising energy demand, government subsidies and incentives, fluctuating fossil fuel prices, and environmental regulations. The market is projected to continue its rapid growth, reaching $94.87 billion by 2028 at a CAGR of 15.6%. This anticipated growth is driven by the increasing adoption of renewable energy, decentralization and distributed generation, the rise of electric vehicles (EVs), advancements in smart grid technology, and energy storage solutions. Key trends in the forecast period include smart metering and monitoring, time-of-use (TOU) pricing, energy efficiency products, flexible billing and payment options, electric vehicle (EV) charging solutions, and energy storage solutions.
Global Retail Electricity Market Key Driver
The rising preference for alcoholic beverages is expected to propel the growth of the retail cooler market. Alcoholic beverages, consumed for their psychoactive effects, are increasingly popular due to cultural acceptance, social traditions, and marketing efforts. Retail coolers enhance the accessibility and convenience of these beverages. For instance, Beverage Daily projected in April 2023 that the craft beer category would have a retail dollar value of $28.46 billion in 2022, reflecting a 6% increase from 2021. Therefore, the rising preference for alcoholic beverages is driving the retail cooler market.
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Global Retail Electricity Market Segments
The retail electricity market covered in this report is segmented –
1) By Customer Type: Regulated Customers, Deregulated Customers
2) By Energy Sources: Conventional Energy, Renewable Energy
3) By Application: Energy Efficiency Solutions, Demand Response Programs, Smart Home Technologies
4) By End User: Residential, Commercial, Industrial
By Geography:The regions covered in the retail electricity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the retail electricity market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Retail Electricity Industry Players
Electricité de France SA (EDF), Enel SpA, E.ON SE, Engie SA, EnBW Energie Baden-Württemberg AG, Iberdrola S.A., Tokyo Electric Power Company Holdings Inc, RWE AG, NRG Energy Inc, Southern Company, Duke Energy Corporation, National Grid plc, Constellation Energy Resources LLC, Pacific Gas and Electric Company (PG&E), American Electric Power Company Inc, DTE Energy Company, Exelon Corporation, Xcel Energy Inc, Dominion Energy Inc, Entergy Corporation, CLP Holdings Limited, AES Corporation, Origin Energy Limited, Ameren Corporation, PPL Corporation, Emera Incorporated, Hydro One Inc, OGE Energy Corporation, Enersource Corporation
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Retail Electricity Market Overview
Retail electricity refers to the sale of electricity directly to end-users or consumers, typically households, businesses, and other entities. It involves the distribution and sale of electricity through local utility companies or retail electricity providers (REPs). Retail electricity encompasses billing, customer service, and other aspects related to supplying electricity to consumers, distinct from wholesale electricity transactions that occur between electricity generators and wholesale market participants.
Retail Electricity Global Market Report 2023 provides data on the global retail electricity market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The retail electricity market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
