Utility Asset Management Market with Regional Analysis, Demand, Share, Growth and Forecasts 2023

Market Research Future Adds Global Utility Asset Management Market Size, Status and Forecast 2023 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.

Market Highlights

Electricity distributors classify their assets as either primary or secondary plants assets. An uninterrupted supply to customer can only be guaranteed when both plants are adequately functional. Secondary plants assets are relatively cheaper than their primary plant counterparts, with life expectancies of approximately fifteen to twenty five years, respectively.

In managing electric utilities as business entities, capital investment in power network expansion must be efficiently linked with the management of these assets throughout their useful life. Asset management can be divided into maintenance, refurbishment and strengthening. Maintenance management is fundamental for the assets to realize their useful life. This involves the re-instatement of the plant to its intended conditions and performance through corrective action. Refurbishment is a special case of maintenance and it refers to the replacement of equipment in compliance with current technical practice, safety standards and the desired operating performance.

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Key Players

BB Ltd.

Siemens AG

General Electric Company

S & C Electric Company

Sentient Energy, Inc.

Aclara Technologies LLC

Emerson Electric Co.

Enetics Inc.

Scope of the Report

This study provides an overview of the global utility asset management market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the utility asset management market by its application, by component, by utility type and by region.

By Application

Transformer

Sub-Station

Transmission & Distribution Lines

By Component

Hardware

Software

By Utility Type

Public Utility

Private Utility

By Regions

North America

Asia Pacific

Europe

Rest of the World

Segments

Global utility asset management market has been segmented as on application, component, utility type and region. Based on applications, the market has been segmented as transformer, sub-station, transmission & distribution lines. Among these, the substation, is projected to dominate the utility asset management market through 2023. The dominant position of this segment can be attributed to the rising distribution substation coupled with growing urbanization across the globe. Based on component, the market has been segmented into hardware, and software. Hardware dominated the market in 2016, and is projected to be the fastest-growing material type.

Regional Analysis

The global utility asset management market is expected to witness a phenomenal growth during the forecast period. This is due to the considerable growth in the power sector with population boom along with rise in energy demand has propelled the utility asset management market in various regions. The growth is primarily attributed to up gradation of aging utility infrastructure and growing investments in distributed generation and related government regulations, which is likely to continue during the forecast years. The Asia Pacific region is expected to grow at the highest CAGR from 2018 to 2023, wherein China was the largest country-level market, followed by India and Japan. Rising population with tremendous energy demand growth has resulted in phenomenal growth for electrical infrastructure in the region and subsequently resulted into growth for utility asset management market.

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