Press release
Utilities Market Trends, Top Companies, Share, Growth And Forecast 2033
Utilities Market
The Business Research Company presents an extensive market research report on the Utilities Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The utilities market size has grown strongly in recent years. It will grow from $6449.95 billion in 2023 to $6893.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to rapid economic growth in emerging markets, technological advances and market liberalization.
The utilities market size is expected to see strong growth in the next few years. It will grow to $8833.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to global population growth, faster economic growth, rising investments in renewable energy and increase in global utility mergers and acquisitions . Major trends in the forecast period include investing in ppas, investing in battery storage for solar energy, investing in technologies such as smart grids, smart meters, focusing on distribution generation models and investing in solar tracking.
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Key Market Players:
Major companies operating in the utilities market report are Enel SpA, E.ON SE, Uniper SE, State Power Investment Corporation, Iberdrola, S.A., National Energy Investment Group Co., Ltd., Engie S.A., Exelon Corporation, Duke Energy Corporation, Veolia Environnement S.A., Pacific Gas & Electric, SSE, GAIL, NHPC Limited, Centrica, Delaware City Water System, NextEra Energy, China Datang Corporation, China Three Gorges Corporation, Comision Federal de Electricidad, Dominion Energy Inc., Dana Brevini Power - Transmission S.p.A., TransAlta Corporation, Saudi Consolidated Electricity Company, Adani Power, Public Service Enterprise Group, China Resources Gas Group, China Southern Power Grid Company, China Water Affairs Group, Itron Inc., AGL Energy, Shenzhen Water (Group) Co., Integrated Gas Services Company LLC, Israel Electric Corporation, Limited Liability Company Gazprom Energoholding and Fortum Oyj, Osaka Gas, Tata Power, G.EN. GAZ ENERGIA, Centria Reti Gas, CLP Holdings Limited, Novatek, Red Eléctrica de España (REE), Tokyo Gas, China Huadian Group Corporation, Intergen, ESBI, National Iranian Oil Company, Federal Electricity Commission, China Guodian Corporation, Areva T & D, Vattenfall AB, Drax Power Limited, ENN Group, ENMAX Corporation, Xcel Energy, China Huaneng Group, Enbridge Inc, Marcuras Water Treatment (India) Pvt. Ltd., Mahanagar Gas, GASAG, Envicare Technologies Pvt Ltd, IIT Corporation, Hydro-Quebec, Artesian Water Company, Jiangxi Hongcheng Waterworks Co., Laheeb Gas Trading, Enagás, GE Water and Process Technologies, NTPC Limited, Paragon Water Technologies, Total E&P Canada Ltd., Evoqua Water Technologies, Scottish Power, Toshiba Water Solutions Private Limited, Tohoku Electric Power Co, OGK-4), International Power/GDF SUEZ SA, RWE, Sempra Energy, Indraprastha Gas, Petronet LNG, TC Energy Corporation, Gazprom, Dubai Electricity & Water Authority, Natural Gas Distribution Company, Omv petrom, EDF Energy, Gujarat State Petronet, Amprion GmbH, Ultrapure & Industrial Services, Fennovoima Ltd., Southern Co., Korea Gas Corporation, Kelvin Water Technologies, Beijing IWHR Corporation, Abu Dhabi National Energy Company PJSC (TAQA), Abu Dhabi National Oil Company, Aksa Cukurova Dogal Gaz Dagitim Anonim Sirket, American Electric, BC Hydro, Bionics Consortium Pvt. Ltd., Cadent Gas Ltd, Dow Water and Process Solutions, Électricité de France S.A., Endesa, Eni Gas & Power, Fortum Oyj, Hammadi Power Service, Hokkaido Electric Power Company, Horizon Nuclear Power, Hydro One Inc, Italgas, Kinder Morgan Inc, Krevox, Louisville Water Company, Municipal Water and Sewage Company S.A., NaftoGaz Group, Nawah Energy, Northumbrian Water, Nuclear Power Production & Development Company of Iran (NPPD), Oneok Inc., PGNiG, Power Grid Corporation of India Limited, Saudi Electricity Company, Severen Trent Water, Siemens LLC, United utilities, Williams Companies Inc, Wuhan Sanzhen Industry Holding Co., Yorkshire water
Market Drivers:
The rapid growth in investments in renewable power generation capacities is expected to drive the utilities market during the forecast period. A large number of power generation companies are investing in renewable energy sources, especially in the USA and European countries. For instance, EDF Energy announced an investment of more than €25 billion in solar power and green electricity tariffs. Governments globally are also promoting renewable energy sources by offering incentives and subsidies to solar power generation companies. For instance, according to the Clean Energy Australia 2022 Report, 9 GW of new large renewable energy capacity was introduced to the network in 2021, representing 68 large-scale projects under construction worth $18 billion in investment and about 35,000 new jobs. This is expected to boost electric power generation and subsequently drive the utilities market during the forecast period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/utilities-global-market-report
The utilities market covered in this report is segmented -
1) By Type: Water And Sewage, Natural Gas Distribution, Electric Power Generation, Transmission, And Distribution
2) By Type of Operator: Public Operator, Private Operator
3) By Pricing: Fixed Billing, Variable Billing
Subsegments Covered: Water Supply & Irrigation Systems, Sewage Treatment Facilities, Steam & Air-Conditioning Supply, Industrial And Commercial Natural Gas Distribution, Household Natural Gas Distribution, Electric Power Transmission, Control, And Distribution, Power Generation
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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