Peak energy demand periods – the period when energy demand is significantly higher than usual energy supply – can disrupt the entire energy distribution system leading to more number of blackouts. This typically takes place amid 4 pm and 8 pm on weekdays, when businesses are open and simultaneously people are back to their home from work; turn on their lights, HVAC equipment and other appliances. Also during extreme meteorological conditions like heat wave, demand for energy considerably outstrips energy supply and, around hours of peak energy demand, homeowners face serious risk of blackout or power outage. Demand response is a mode for energy firms to discourage energy consumption by ...view middle of the document...
Regionally, demand response market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
Request Free Report Sample @ http://www.futuremarketinsights.com/reports/sample/rep-gb-1287
Demand Response Market: Regional Outlook
Demand response market is witnessing steady growth and is anticipated to witness double digit CAGR during the projected period. North America was the dominant regional market in 2014 followed by Western Europe. These two regions combined represented market share of more than 70%, but are expected to lose their share to some extent to other regions during the forecast period. Asia Pacific is expected to exhibit highest growth among all the regions due to evolving economy of countries like India, Philippines and China.
Demand Response Market: Drivers
Grid modernization in countries across the globe is accelerating the growth of demand response market. Introduction of smart grids coupled with introduction of regulations pertaining to emissions saving and power demand management are further anticipated to boost the growth of demand response market during the projection period. Also, introduction of connected appliances and concept of dynamic pricing are further expected to fuel the growth of demand response market. However, lack of awareness regarding demand response products and services in developed and developing regions is expected to restrain the growth of demand response market....