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Utilities Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Utilities
What Is the Current Utilities Market Size and Its Estimated Growth Rate?
In the last few years, the size of the utilities market has seen a significant increase. It is projected to rise from $6836.95 billion in 2024 to $7305.9 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. The expansion during the historical period can be linked to the speedy economic growth in emerging markets, advancements in technology, and the liberalization of the market.
It is predicted that the utilities market will significantly expand in the coming years, reaching a market size of $9213.76 billion in 2029 with a compound annual growth rate (CAGR) of 6.0%. The surge in the projected period is due to factors like global population increase, accelerated economic development, elevated investments in green energy, and an uptick in international utility mergers and acquisition activities. Notable trends for the forecasted period include investments in Power Purchase Agreements (PPAs), enhancing battery storage for solar power, adoption of smart technologies such as smart grids and smart meters, emphasis on distribution generation models, and investment in solar tracking methods.
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How Are Emerging Segments Shaping the Utilities Market Landscape?
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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Which Growth Factors Are Influencing Utilities Market Expansion?
The anticipated surge in renewable power generation capacities investment is forecasted to propel the utilities market throughout the forecast timeline. A significant number of power generation corporations, predominantly in the United States and Europe, are channeling their funds into renewable energy sources. As an illustration, EDF Energy has declared an investment exceeding €25 billion into solar power and green electricity tariffs. Worldwide governments are also advocating for renewable energy resources, providing incentives and subsidies to solar power generation entities. To elaborate, in June 2024, the International Energy Agency, an organization based in France, predicted that global energy investments will cross the $3 trillion mark in 2024 for the first time, with about $2 trillion designated for clean technologies. The forecast includes renewable energy, electric vehicles, nuclear power, grids, energy storage, low emission fuels, efficiency improvements, and heat pumps. Hence, a surge in renewable power investments is anticipated to steer the utilities market.
Who Are the Dominant Players Across Different Utilities Market Segments?
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
What Are the Latest Developing Trends in the Utilities Market?
An increasing number of digital technologies are penetrating the industry of power generation, transmission, and distribution, with an aim to boost productivity, efficiency, and safety linked to power plants. Cutting-edge digital technologies such as intelligent grids, sensors, and smart meters provide corporations and clients with exact and instantaneous reports on power consumption. These technologies not only elevate productivity, efficiency, safety, and reliability in power generation and distribution but also enhance compliance. This leads to superior management of assets, more effective planning, and execution, as well as faster service delivery which increases customer satisfaction. Take for example, Whitegate Power Station in Ireland, which has installed as many as 140 sensors around the plant to digitize data like vibrations, temperature, etc., so as to monitor and optimize operations instantaneously and decrease downtime. Some of the key players in the industry, like Duke Energy, Engie, National Grid, and NextEra, are examples of companies incorporating digital technologies.
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Which Geographic Regions Are Expected to Dominate the Utilities Market in the Coming Years?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Utilities Market?
2. What is the CAGR expected in the Utilities Market?
3. What Are the Key Innovations Transforming the Utilities Industry?
4. Which Region Is Leading the Utilities Market?
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