Asia Pacific Demand Response Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Demand Response Market Analysis
The Asia-Pacific demand response management system market is expected to grow at a CAGR of over 7.2% during the forecast period. The demand response system is for end-use customers to reduce their use of electricity in response to power grid needs, economic signals from a competitive wholesale market, or special retail rates. Most of the demand response action today is in the commercial and industrial sectors. Moreover, technology giants of the respective countries are leading the market space, with smaller companies supporting them with constant innovations and smarter software products. The scenario acts as a driver for the adoption of demand response management systems for utilities and customers. However, privacy concerns regarding the consumers as there is a threat of hacking or extracting data related to the end-users are expected to hinder the growth of the market studied.
- The automated demand response system is expected to witness significant growth during the forecast period owing to the increasing deployment of smart grids across the globe with the advancement in software technology.
- The integration of smart technologies in the existing grid structure is expected to create an ample amount of opportunities for the market players in the coming years.
- China expected to be the largest market in the region owing to many upcoming renewable projects to decrease the share of coal in power generation. Furthermore, the uncertainty in the power generation through renewables propel the demand for the ADRMS in the country.
Asia Pacific Demand Response Market Trends
This section covers the major market trends shaping the APAC Demand Response Market according to our research experts:
Automated Demand Response System Likely To Drive The Market
- Industrial demand response is a dynamic energy infrastructure management program designed to support the stability of the electricity grid, and meet the global growing demand for energy with the assistance of large and very large energy users in both the industrial and commercial sectors who agree to switch off certain production processes or turn down certain electrical loads during periods of peak demand.
- Developed countries are implementing large-scale smart grid technologies and many developing countries are also in the process of adopting various smart grid components including automated demand response system into their power systems.
- Demand-side management is the need of the hour for any grid. With a rise in smart grid technologies and automated demand response system, DRMS is a key demand-side management strategy that is expected to provide a cost-effective alternative to traditional supply-side solutions, to address growing electricity demand during times of peak load or when prices are high.
- Therefore, the Asia-Pacific demand response system is expected to grow because of the ability of automated demand response to the greatest control on the electricity consumption, allowing customers to automatically manage energy consumption at times of peak demand.
China to Witness a Significant Growth
- The market for demand response management systems in the Asia-Pacific region is expected to witness significant growth majorly in China during the forecast period.
- As a vast industrial nation with a forecasted peak load of more than one terawatt by 2020, China is a potentially large market for demand response management systems. The country has experienced shortages in power availability because of rapid economic growth, a situation that has ebbed in recent years. To manage this mismatch in electricity demand and supply, large customers were instructed to undertake administratively rationed, uncompensated load reductions to reduce peak demand.
- Furthermore, as of 2019, the Chinese government from the past five years are implemented several policies and initiatives to promote the uptake of renewable energy sources in the net electricity generation mix to encourage energy efficiency and to minimize transmission and distribution losses in the country.
- Besides, on the supply side, a massive build-out of renewable energy sources is not only expected to increase the need for grid connection, and demand response management systems to handle the intermittency of these renewable sources but also offer China a viable alternative to fossil-fuel generation.
- Therefore, factors such as increasing efforts to modernize the power sector across the country by the Chinese government are expected to drive the market studied during the forecast period.
Asia Pacific Demand Response Industry Overview
The Asia-Pacific demand response system market is moderately fragmented due to many companies operating in the industry. The key players in this market includeSchneider Electric, Inc., Siemens, Hitachi Ltd, Mitsubishi Electric Corporation, GE Energy, ABB (Ventyx), and others.
Asia Pacific Demand Response Market Leaders
-
Schneider Electric
-
Siemens AG
-
Hitachi Ltd
-
Mitsubishi Electric Corporation
-
General Electric Company
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Demand Response Market Report - Table of Contents
-
1. INTRODUCTION
-
1.1 Scope of the Study
-
1.2 Market Definition
-
1.3 Study Assumptions
-
1.4 Study Deliverables
-
1.5 Research Phases
-
-
2. EXECUTIVE SUMMARY
-
3. RESEARCH METHODOLOGY
-
4. MARKET OVERVIEW
-
4.1 Introduction
-
4.2 Market Size and Demand Forecast, until 2025
-
4.3 Recent Trends and Developments
-
4.4 Market Dynamics
-
4.4.1 Drivers
-
4.4.2 Restraints
-
-
4.5 Supply-Chain Analysis
-
4.6 Porter's Five Forces Analysis
-
4.6.1 Bargaining Power of Suppliers
-
4.6.2 Bargaining Power of Consumers
-
4.6.3 Threat of New Entrants
-
4.6.4 Threat of Substitutes Products and Services
-
4.6.5 Intensity of Competitive Rivalry
-
-
-
5. MARKET SEGMENTATION
-
5.1 Type
-
5.1.1 Conventional Demand Response
-
5.1.2 Automated Demand Response
-
-
5.2 Geography
-
5.2.1 Australia
-
5.2.2 China
-
5.2.3 India
-
5.2.4 Japan
-
5.2.5 Rest of Asia-Pacific
-
-
-
6. COMPETITIVE LANDSCAPE
-
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
-
6.2 Strategies Adopted by Leading Players
-
6.3 Company Profiles
-
6.3.1 Schneider Electric SE
-
6.3.2 Siemens AG
-
6.3.3 Hitachi Ltd
-
6.3.4 Mitsubishi Electric Corporation
-
6.3.5 ABB Ltd.
-
6.3.6 Alstom Inc
-
6.3.7 General Electric Company
-
6.3.8 Eaton Corporation PLC
-
6.3.9 Silver Spring Networks
-
6.3.10 EnerNOC Inc
-
6.3.11 REGEN Energy Inc
-
6.3.12 Autogrid Systems Inc.
-
- *List Not Exhaustive
-
-
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia Pacific Demand Response Industry Segmentation
The Asia-Pacific demand response management systems market report include:
| Type | |
| Conventional Demand Response | |
| Automated Demand Response |
| Geography | |
| Australia | |
| China | |
| India | |
| Japan | |
| Rest of Asia-Pacific |
Asia Pacific Demand Response Market Research FAQs
What is the current Asia-Pacific Demand Response Management Systems Market size?
The Asia-Pacific Demand Response Management Systems Market is projected to register a CAGR of greater than 7.20% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Demand Response Management Systems Market?
Schneider Electric , Siemens AG, Hitachi Ltd , Mitsubishi Electric Corporation and General Electric Company are the major companies operating in the Asia-Pacific Demand Response Management Systems Market.
What years does this Asia-Pacific Demand Response Management Systems Market cover?
The report covers the Asia-Pacific Demand Response Management Systems Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Demand Response Management Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Demand Response Industry Report
Statistics for the 2024 APAC Demand Response market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. APAC Demand Response analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
