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Europe Ancillary Services Market Research Report Information By Type (Frequency Control Service, Spinning Reserve Service, and Operating Reserve Service), By Application (Industrial Electricity and Residential Electricity)–and Europe Market Forecast Till 2032.

ID: MRFR/A&D/14626-HCR | 128 Pages | Author: Sejal Akre| June 2024

Europe Ancillary Services Market Overview

The Ancillary Services market industry is projected to grow from Significant Value, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2023 - 2032). The enhanced internet access for supplementary services and wider use of renewable sources is one of the major market drivers driving the ancillary services market in Europe. Ancillary services market growth is also anticipated to be driven by surges in power consumption and the greater emphasis on ease and experiences during the forecast period.

Europe Ancillary Services Market

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Ancillary Services Market Trends

Growing modern technology and the rise of digitalization are driving the market growth

The European ancillary services market CAGR is expanding due due to technological progress and digitization. The proliferation of digital platforms and subsequent technological developments has revolutionized ancillary service provision and consumption. Consumers can access and purchase supplementary services more easily because of online booking platforms, smartphone applications, and digital communication channels. Additional services that complement core banking products are examples of ancillary services. Financial product extended warranties, overdraft protection, and identity theft protection are all examples of such services. Many ancillary service providers were working together to deliver comprehensive solutions.

Furthermore, the growth of the ancillary services market is influenced by government initiatives in Europe encouraging innovation, the introduction of novel goods and services, and exploring unexplored opportunities to strengthen their position in the market. Individualized experiences are becoming increasingly common, even for supplementary services. Personalized packs and add-ons are created to enhance the client experience, as travelers want unique and customized options. Companies and academic institutions are encouraged to invest in developing teaming-up techniques, such as airline companies with transportation companies or regional landmarks. Additionally, ancillary services were being impacted by changes in regulation and shifting industry norms. Businesses must change to meet the new regulations, especially consumer protection and data privacy. Shared resources and knowledge are typically the outcome of collaborative projects and collaborations. Thus, driving the ancillary services market revenue.

Ancillary Services Market Segment Insights

Ancillary Services Type Insights

The Europe ancillary services market segmentation, based on type, includes frequency control, spinning reserve, and operating reserve services. The frequency control service segment dominated the market. The stability of the power grid is enhanced by frequency control services, which help to maintain a balanced supply and demand for electricity. Ensuring a consistent frequency is crucial for the steady functioning of electrical devices and the overall reliability of the power grid.

Figure 1: Europe Ancillary Services Market, by Type, 2022 & 2032 (USD Billion)

Europe Ancillary Services Market, by Type, 2022 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Ancillary Services Application Insights

The Europe ancillary services market segmentation, based on application, includes industrial electricity and residential electricity. The industrial electricity category generated the most income because industrial energy users play an important role in ancillary services, which help keep the electrical grid stable. The capacity to adapt power consumption to grid conditions aids in balancing supply and demand, which in turn prevents frequency variations and system instability. Additionally, industrial users might help integrate renewable energy sources by participating in ancillary services. Their capacity to adapt power use in response to changes in renewable generation is a useful tool for demand management.

Ancillary Services Country Insights

The rapid expansion of the intelligent energy industry has resulted in a boom in demand for ancillary services in Europe in recent years. One factor influencing regional market dynamics is the increasing use of renewable energy sources. High demand for grid balancing and frequency regulation ancillary services is anticipated in Europe. Furthermore, due to climate change mitigation efforts, renewable energy sources have been more integrated into Europe's industrial electricity sector due to policies and programs encouraging their use. The smart grid is improving ancillary services in Europe by making them more efficient and reliable. Additionally, competition and a broader set of market participants have resulted from the deregulation of energy markets in several European countries. During the projected period, the market in Europe is expected to be propelled by rapid industrialization and urbanization.

Figure 2: Europe Ancillary Services MARKET SHARE BY REGION 2022 (USD Billion)

Europe Ancillary Services MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Ancillary Services Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the ancillary services market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the ancillary services industry must offer cost-effective items.

Major players in the ancillary services market are attempting to increase market demand by investing in research and development operations, including FMC Technologies, Abb, General Electric, Aker Solutions, Cameron International, and Siemens.

Key Companies in the Ancillary Services market include

  • FMC Technologies

  • Abb

  • General Electrics

  • Aker Solutions

  • Cameron International

  • Siemens

Ancillary Services Industry Developments

December 2023 GE Vernova's Gas Power division announced plans to spend over $5 million upgrading the Fierro Service Center in Andoian, Spain, with state-of-the-art equipment and expanding their service offerings to cater to the specific and increasing need for gas power plant maintenance.

November 2023 ABB's research and development in the electrification business sector, the company has negotiated a €500 million deal with the European Investment Bank, the lending arm of the European Union.

Ancillary Services Market Segmentation

Ancillary Services Type Outlook

  • Frequency Control Service

  • Spinning Reserve Service

  • Operating Reserve Service

Ancillary Services Application Outlook

  • Consumer Electronics

  • Industrial

  • Automotive & Transport

  • IT & Telecommunication

  • Others

Ancillary Services Regional Outlook

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Sweden

    • Denmark

    • Luxembourg

    • Norway

    • Austria

    • Rest of Europe

Report Attribute/Metric Details
Market Size2022 Significant Value
Market Size 2023 Significant Value
Market Size2032 Significant Value
Compound Annual Growth Rate (CAGR) 8.00% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and Region
Region Covered Europe
Countries Covered Germany , France , UK , Italy , Spain , Sweden , Denmark , Luxembourg , Norway , Austria , and Rest of Europe
Key Companies Profiled FMC Technologies, Abb, General Electric, Aker Solutions, Cameron International, and Siemens
Key Market Opportunities Development in grid infrastructure development has increased Programs implemented by the government that encourage the use of renewable energy
Key Market Dynamics A surge in the demand for power A greater requirement for grid stability

Frequently Asked Questions (FAQ) :

The Europe ancillary services market size was valued at Significant Value in 2022.

The market is projected to grow at a CAGR of 8.00% during the forecast period, 2023-2032.

The key players in the market are FMC Technologies, Abb, General Electric, Aker Solutions, Cameron International, and Siemens.

The frequency control service category dominated the market in 2022.

The industrial electricity category had the largest share of the market.

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