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Electric Power Generation, Transmission, And Distribution Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Electric Power Generation, Transmission, And Distribution
What Is the Projected Growth of the Electric Power Generation, Transmission, And Distribution Market?
The electric power generation, transmission, and distribution market has grown robustly, forecasted to grow from $5167.14 billion in 2024 to $5501.22 billion in 2025 at a CAGR of 6.5%, previously driven by reliance on fossil fuels, industrial growth, rising populations, infrastructure expansion, and power tech improvements.
The electric power generation, transmission, and distribution market is projected to experience strong growth, reaching $6861.95 billion in 2029, growing at a CAGR of 5.7%. The growth is attributed to the shift towards renewable energy, decentralization, integration of energy storage, electrification of transportation, and grid modernization. Key trends include the development of smart grids, microgrids, the electrification of heating and cooling, increased grid resilience and security, and the use of hydrogen as an energy carrier.
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What Are the Different Electric Power Generation, Transmission, And Distribution Market Segments?
The electric power generation, transmission, and distribution market covered in this report 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:
1) By Electric Power Transmission: Overhead Transmission Lines, Underground Transmission Lines, High-Voltage Direct Current (HVDC) Transmission, Substations
2) By Control: Grid Management Systems, SCADA (Supervisory Control and Data Acquisition) Systems, Protection and Automation Systems, Power Control Systems, Voltage Regulation Equipment
3) By Distribution: Low-Voltage Distribution Systems, Medium-Voltage Distribution Systems, Smart Grid Technology, Distribution Transformers, Distribution Substations
4) By Power Generation: Fossil Fuel-Based Power Generation, Nuclear Power Generation, Renewable Energy Generation, Hydroelectric Power Generation, Combined Heat and Power (CHP) Generation, Distributed Power Generation
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What Are the Primary Drivers Shaping the Electric Power Generation, Transmission, And Distribution Market?
Increased investment in power generation technologies is expected to drive market growth in the forecast period. Investments in microgrid technology, renewable energy, and other innovations are expected to propel the market. The Global Innovation Report anticipates that microgrid capacity in North America will reach 1.2 GW by 2024, with annual revenues of $4.2 billion. Furthermore, the U.S. government enacted a $1.2 trillion infrastructure bill in 2021 to fund clean energy initiatives, boosting investment in power generation technologies.
Which Companies Are Leading in the Electric Power Generation, Transmission, And Distribution Market?
Major companies operating in the electric power generation, transmission, and distribution market include Electricite De France SA, Enel SpA, Tokyo Electric Power Co Holdings Incorporated, E.ON SE, Korea Electric Power Corporation, State Power Investment Corporation, Iberdrola SA, Exelon Corp, Engie SA, Duke Energy Corp, American Electric Power Co Inc., Ameren Corporation, American Transmission Co, Avangrid Inc., Berkshire Hathaway Inc., Black Hills Corporation, Calpine Corp, CenterPoint Energy Inc., Dominion Energy Inc., Southern California Edison Company, El Paso Electric Railway Company, Engie North America Inc., Entergy Corporation, Exelon Corporation, FirstEnergy Corp, Great Plains Energy Incorporated, Hawaiian Electric Industries Inc., Idaho Power Co, MidAmerican Energy Co, National Grid Plc, NextEra Energy Inc., NRG Energy Inc., Oncor Inc., Pacific Gas and Electric Company, Pennsylvania Power & Light Corp, Public Service Enterprise Group Inc., Southern Company, Xcel Energy Inc.
What Are the Major Trends Shaping the Electric Power Generation, Transmission, And Distribution Market?
Companies in the electric power generation, transmission, and distribution market are developing next-generation nationwide load dispatching systems for better grid management. In November 2024, Japan-based Hitachi, Ltd. secured an order to implement such a system for Transmission and Distribution IT & OT Systems LLC. Using the Hitachi Energy Network Manager platform, the system will enhance power distribution efficiency across Japan and support renewable energy integration.
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What Are the Top Revenue-Generating Geographies in the Electric Power Generation, Transmission, And Distribution Market?
Asia-Pacific was the largest region in the electric power generation, transmission, and distribution market in 2023. Western Europe was the second largest region in the electric power generation, transmission, and distribution market. The regions covered in the electric power generation, transmission, and distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Power Generation, Transmission, And Distribution Market?
2. What is the CAGR expected in the Electric Power Generation, Transmission, And Distribution Market?
3. What Are the Key Innovations Transforming the Electric Power Generation, Transmission, And Distribution Industry?
4. Which Region Is Leading the Electric Power Generation, Transmission, And Distribution Market?
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