The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Blockchain in Energy Trading Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Blockchain in Energy Trading Industry (2023-2028):
According to the latest report, The Blockchain in Energy Trading Market is estimated to grow at a CAGR of around 25.55% during the forecast period, i.e., 2023-28. The report demonstrates the prominent factors propelling the exponential growth of the Blockchain in Energy Trading industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2018-21
- Base Year: 2022
- Forecast Period: 2023-28
- CAGR: 25.55%
What are the major Driver the Blockchain in Energy Trading industry?
Rapid Growth of Renewable Energy Sources to Escalate the Market – The surging growth of renewable sources across the globe is accelerating the Energy Trading Market. Renewable energy sources, such as solar & wind power, are becoming more affordable & reliable owing to increasing government policies & incentives, technological advancement, financial investment from private & institutional investors, etc. According to the IRENA, in 2022, costs for renewables continued to fall in 2021, electricity from wind fell by around 15%, offshore wind by about 13%, and solar photovoltaics (PV) by 13% compared to 2020. As solar & wind become more prevalent, households & businesses are increasingly becoming prosumers, generating their electricity & sometimes producing excess energy that could be shared with others.
Consequently, blockchain technology could facilitate this energy exchange through decentralized & transparent peer-to-peer (P2P) transactions, creating Local Energy Markets. By enabling real-time matching of energy supply & demand blockchain, energy trading optimizes grid stability & fosters a more resilient & decentralized energy ecosystem.
Smart contracts on the blockchain ensure fair compensation for prosumers & streamline energy transactions without intermediaries. As renewable energy continues to grow, the blockchain energy trading market is poised to expand, bringing about a more sustainable & efficient energy future.
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Blockchain in Energy Trading Market Segmentation
The Blockchain in Energy Trading Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Component
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- Mercury UV Lamps– Market Size & Forecast 2018-2028, USD Million
- Low Pressure—Market Size & Forecast 2018-2028, USD Million
- Medium Pressure—Market Size & Forecast 2018-2028, USD Million
- Amalgam Pressure—Market Size & Forecast 2018-2028, USD Million
- Mercury UV Lamps– Market Size & Forecast 2018-2028, USD Million
- LED Lamps-Market Size & Forecast 2018-2028, USD Million
- Quartz Sleeve-Market Size & Forecast 2018-2028, USD Million
- Controller Unit-Market Size & Forecast 2018-2028, USD Million
- Reactor Chamber-Market Size & Forecast 2018-2028, USD Million
- UV Lamps- Market Size & Forecast 2018-2028, USD Million
- By Marketing Channel
- Direct- Market Size & Forecast 2018-2028, USD Million
- Indirect- Market Size & Forecast 2018-2028, USD Million
- By Application
- Water& Wastewater- Market Size & Forecast 2018-2028, USD Million
- Process Water Treatment- Market Size & Forecast 2018-2028, USD Million
- Air Treatment- Market Size & Forecast 2018-2028, USD Million
- Surface Treatment- Market Size & Forecast 2018-2028, USD Million
- By End-User
- Municipal- Market Size & Forecast 2018-2028, USD Million
- Residential- Market Size & Forecast 2018-2028, USD Million
- Commercial- Market Size & Forecast 2018-2028, USD Million
- Industrial- Market Size & Forecast 2018-2028, USD Million
- By Region
- North America
- South America
- Europe
- Asia-Pacific
- The Middle East & Africa
As per the regional aspect, the Blockchain in Energy Trading Market is expected to be dominated by North America by capturing the potential market share.
Explore further details about this research report – https://www.marknteladvisors.com/research-library/blockchain-in-energy-trading-market.html
Top Companies in the Blockchain in Energy Trading Market
Power Ledger, SunContract, Wepower, Restart Energy, Electron, Mission Innovation, Blockchain Tech LTD, Enosi, Grid Singularity, LO3 Energy, Others
Global Blockchain in Energy Trading Market Recent Development
In 2023, Power Ledger in partnership with Vietnam Electricity Central Power Corporation (EVNCPC) announced the launch of Vietnam’s first peer-to-peer (P2P) energy trading project.
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