Utilities Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers

Which drivers are expected to have the greatest impact on the over the utilities market's growth?
The utilities market is set to benefit from the swift rise in investments in renewable energy generation capabilities during the projected period. This trend is notably present amongst electricity generation companies in the USA and European nations who are committing substantial funds to renewable energy sources. Take EDF Energy as an example, they earmarked more than €25 billion for solar power and green electrical tariffs. In addition, governments across the world are further encouraging solar power generation firms by providing them with incentives and subsidies. As noted by the France-based International Energy Agency in June 2024, global energy investments are predicted to exceed the $3 trillion mark in 2024. This will represent a historic first, with nearly $2 trillion of these investments aimed at clean technologies, spanning renewable energy, electric vehicles, nuclear power, energy storage, grids, low-emission fuels, efficiency improvements, and heat pumps. In view of these factors, a vigorous increase in renewable energy investments is anticipated to stimulate the utilities market.

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What is the future CAGR of the utilities market, and how will it impact industry expansion?
In recent years, the size of the utilities market has experienced significant growth. The market is projected to expand from a value of $6836.95 billion in 2024 to $7305.9 billion in 2025, representing a compound annual growth rate (CAGR) of 6.9%. This growth trajectory in the historic period has been underpinned by swift economic growth in burgeoning markets, advancements in technology, and the liberalization of the market.

The size of the utilities market is anticipated to witness robust expansion in the coming years. By 2029, it is projected to swell to $9213.76 billion, with a compound annual growth rate (CAGR) of 6.0%. This upswing during the forecast period can be ascribed to factors such as worldwide population growth, accelerated economic development, escalating investments in the realm of renewable energy, and a rise in global merger and acquisition activities in the utility sector. Noteworthy trends projected for the forecast period encompass investments in Power Purchase Agreements (PPAs), battery storage for solar power, deployment of innovative technologies like smart grids, smart meters, emphasis on distribution generation models, and investments directed towards solar tracking.

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What new trends are reshaping the utilities market and its opportunities?
The integration of digital technologies like smart grids, sensors, and smart meters is becoming widespread in the power generation, transmission, and distribution sectors, as it boosts productivity, efficiency, and safety within power plants. These modern technologies offer simultaneously precise and real-time records of energy consumption to both companies and clients, which results in improvements in productivity, efficiency, safety, compliance, and reliability of electricity creation and distribution. It also enhances asset management, strategy and implementation, quicker service, and higher levels of customer satisfaction. An example of this can be seen in Ireland's Whitegate Power Station, which has incorporated 140 sensors to digitalize data such as vibrations and temperature. This allows them to monitor and fine-tune operations in real time, and thus reducing any downtime. Renowned companies like Duke Energy, Engie, National Grid, and NextEra are some examples of corporations that have adopted these digital technologies.

Which key market segments comprise the utilities market and drive its revenue growth?
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:
1) By Water And Sewage: Water Supply And Distribution, Wastewater Treatment, Stormwater Management
2) By Natural Gas Distribution: Natural Gas Transmission, Local Gas Distribution Companies (Ldcs), Natural Gas Storage
3) By Electric Power Generation, Transmission, And Distribution: Power Generation (Renewable, Fossil Fuels, Nuclear), High Voltage Transmission, Electric Distribution Systems

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What regions are at the forefront of utilities market expansion?
Asia-Pacific was the largest region in the utilities market in 2024. Western Europe was the second-largest region in the utilities market. The regions covered in the utilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the leading players fueling growth in the utilities market?
Major companies operating in the utilities market include 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, 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

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What Is Covered In The Utilities Global Market Report?

• Market Size Forecast: Examine the utilities market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the utilities market for a structured understanding.
• Key Players Overview: Analyze major players in the utilities market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the utilities market.
• Segment Contributions: Evaluate how different segments drive overall growth in the utilities market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the utilities market.
• Industry Challenges: Identify potential risks and obstacles affecting the utilities market.
• Competitive Landscape: Review strategic developments in the utilities market, including expansions, agreements, and new product launches.

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