The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

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.

A surge in demand for electric vehicles (EVs) is expected to propel the growth of the retail electricity market. EVs, powered by electric motors and rechargeable batteries, are in demand due to environmental awareness, government policies, and technological advancements. Retail electricity supports EV charging needs through residential and public charging stations. For instance, the Edison Electric Institute forecasted in June 2022 that the number of EVs on U.S. roads would increase from 2.4 million in 2021 to 26.4 million by 2030. Therefore, the surge in EV demand is driving the development of the retail electricity market.

Get A Free Sample On The Retail Electricity Market Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=18450&type=smp

What Are The Key Trends That Influence Retail Electricity Market Share Analysis?

Major companies operating in the retail electricity market are focusing on personalized energy monitoring assistants, such as the connected energy solution, to enhance consumer engagement and optimize energy usage. Connected energy solutions optimize retail energy consumption, enhance grid reliability, and improve customer engagement through real-time data and advanced analytics. For instance, in May 2023, Iberdrola, a Spain-based electric utility company that retails electricity, launched an advanced smart assistant designed to maximize household electricity savings. It uses AI to optimize home energy use, reduce smart device consumption by 10–30%, and integrate with solar panels and electric vehicle charging. This solution is deployed on Amazon Web Services and developed with Deloitte, a UK-based professional services network company. It features real-time monitoring of energy consumption, personalized savings recommendations, and seamless integration with smart home devices. This approach enhances energy efficiency and improves customer engagement by providing actionable insights into energy use patterns.

Which Market Players Are Driving Growth In The Retail Electricity Market?

Major companies operating in the retail electricity market are 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

How Is The Global Retail Electricity Market 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

Read The Full Retail Electricity Market Report Here

https://www.thebusinessresearchcompany.com/report/retail-electricity-global-market-report

The Retail Electricity Global Market Report 2024 provides an overview of the retail electricitymarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The retail electricity market forecast analyzes retail electricity market size, retail electricity market share, leading competitor and their market positions.

The Table Of Content For The Retail Electricity Market Include

1. Retail Electricity Market Executive Summary
2. Retail Electricity Market Segments
3. Retail Electricity Market Size And Template Market Growth Rate
4.  Key Retail Electricity Market Trends
5. Major Retail Electricity Market Drivers
……
25. Key Mergers And Acquisitions In The Retail Electricity Market
26. Top Retail Electricity Companies
27. Retail Electricity Market Opportunities And Strategies
28. Retail Electricity Market, Conclusions And Recommendations
29. Appendix

Explore Similar Reports From The Business Research Company:

Rugged Electronics Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/rugged-electronics-global-market-report

Flexible OLED Displays Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/flexible-oled-displays-global-market-report

Volumetric Display Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/volumetric-display-global-market-report

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: