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Electric Power Generation, Transmission, And Distribution Market Size, Qualitative Insights, Trends And Forecast To 2032
Electric Power Generation, Transmission, And Distribution Market Analysis
The Business Research Company's Electric Power Generation, Transmission, And Distribution Global Market Report 2024 identifies increased investment activity as the major driver for the electric power generation, transmission, and distribution market's growth in the forecast period. Investments in microgrid technology, renewable energy, and other advanced technologies are expected to drive the market. According to the Global Innovation Report, the total capacity of microgrids is expected to reach 1.2 GW by 2024 in North America, with an annual revenue of $4.2 billion. The United States Senate enacted a $1.2 trillion infrastructure bill in August 2021, which includes financing to accelerate clean energy initiatives. The growing investment in power generation will drive the growth of the electric power generation, transmission, and distribution markets.
The electric power generation, transmission, and distribution market size has grown strongly in recent years. It will grow from $4,775.54 billion in 2023 to $5,089.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to fossil fuel-based generation, industrialization, population growth, grid expansion, advancements in power generation technologies.
The electric power generation, transmission, and distribution market size is expected to see strong growth in the next few years. It will grow to $6,423.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to renewable energy transition, decentralization and distributed energy resources (ders), energy storage integration, electrification of transportation, grid modernization and digitalization. Major trends in the forecast period include smart grids, microgrids, electrification of heating and cooling, grid resilience and security, hydrogen as an energy carrier.
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Major competitors in the electric power generation, transmission, and distribution market are Electricite De France SA, Enel SpA, Tokyo Electric Power Co Holdings Incorporated, E.ON SE, Korea Electric Power Corporation.
A key trend in the electric power generation, transmission, and distribution market includes Increasing focus on introducing green product label cable to gain a competitive edge. Major companies operating in the electric power generation, transmission, and distribution market are focused on developing green product label cables to gain a competitive edge in the market. A green product label is a certification or label awarded to products that meet specific environmental standards, indicating their sustainability and reduced impact on the environment. For instance, in April 2021, Prysmian Group, an Italy-based company specializing in electrical cable production, launched ECO CABLE. The cable industry's inaugural certifiable green product label for the energy transition. The ECO CABLE label is automatically assigned, utilizing recognized and quantifiable criteria derived from EU Ecolabel Regulation No. 66/2010. It aligns closely with the primary regulatory frameworks and requirements, with particular emphasis on cable products. These criteria encompass factors like carbon footprint, the absence of substances of very high concern, recyclability or circularity, recycling input rate, environmental advantages, and cable transmission efficiency.
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The electric power generation, transmission, and distribution market is segmented -
1) By Type: Electric Power Transmission, Control, And Distribution, Power Generation
2) By Type of Operator: Public Operator, Private Operator
3) By End-User: Residential, Commercial, Industrial
Subsegments Covered: Electric Power Distribution, Electric Bulk Power Transmission And Control, Hydro Electricity, Fossil Fuel Electricity, Nuclear Electricity, Solar Electricity, Wind Electricity, Geothermal Electricity, Biomass Electricity, Other Electricity
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the electric power generation, transmission, and distribution market.
The Business Research Company's "Global Electric Power Generation, Transmission, And Distribution Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Electric Power Generation, Transmission, And Distribution Market Include:
1. Executive Summary
2. Electric Power Generation, Transmission, And Distribution Market Characteristics
3. Electric Power Generation, Transmission, And Distribution Product/Service Analysis -Product/Service Examples
4. Electric Power Generation, Transmission, And Distribution Market Trends And Strategies
5. Electric Power Generation, Transmission, And Distribution Market - Macro Economic Scenario
……..
68. Global Electric Power Generation, Transmission, And Distribution Market Competitive Benchmarking
69. Global Electric Power Generation, Transmission, And Distribution Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Electric Power Generation, Transmission, And Distribution Market
71. Electric Power Generation, Transmission, And Distribution Market Future Outlook and Potential Analysis
72. Appendix
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