market or industry

Most people in the United States of America (USA) use the word power, while in Europe most people use the word electricity.

Well, real time market or balancing power market? Generally, it is real time market in the USA and balancing power market in Europe. (Although both are correct, most people prefer to write them with a hyphen: real-time, balancing-power.)

When to use market vs. industry? Use market when you mean firms and consumers together and industry when you mean only firms, that is, market = firms + consumers (+ interaction between them) and industry = firms. For example, there are both power companies and power consumers (and of course the interaction between them) in the power market, but there are only power companies in the power industry.

Lastly, sector or industry? These two words are often used interchangeably; do not mind the slight difference between them. For example, power sector and power industry mean almost the same thing.