2025-2034 Electric Power Infrastructure Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Electric Power Infrastructure Market Through 2025?
The market size of the electric power infrastructure has witnessed a robust growth in the past few years. The market is projected to expand from a value of $265.75 billion in 2024 to a whopping $284.32 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.0%. Factors that spurred growth during the historic period include heightened urbanization, an upsurge in industrialization, escalating demand for energy, the proliferation of renewable energy sources, and an increasing global population.

What's the Projected Size of the Global Electric Power Infrastructure Market by 2029?
The market for electric power infrastructure is projected to experience robust expansion in the coming years, growing to a value of $367.38 billion in 2029, with a compound annual growth rate (CAGR) of 6.6%. Factors contributing to this growth over the forecast period include an uptick in the integration of renewable energy, development of electric vehicle charging infrastructure, heightened investments in energy storage solutions, increased focus on energy efficiency, and rising demand for sustainable infrastructure. Key trends anticipated during this period include advancements in software system technology, progress in energy storage systems, the evolution of smart grids, innovations in grid management systems, and ongoing research and development in renewable energy.

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Top Growth Drivers in the Electric Power Infrastructure Industry: What's Accelerating the Market?
The growth of the electric power infrastructure market looks promising due to the burgeoning demands for electricity. As a form of energy produced from the movement of charged particles, electricity is utilized to operate a range of devices, systems, and machines. The escalation in the adoption of energy-intensive technologies by various industries and homes results in increased electricity demand. This intensifies the pressure on the existing power infrastructure, outlining the urgent requirement for its modernization and expansion. The electric power infrastructure plays a crucial role in the efficient generation, distribution, and transmission of electricity from power facilities to residential areas and companies, ensuring consistent accessibility to energy. As per the data from the Energy Information Administration (EIA), a federal statistical agency based in the U.S., there was a 3.2% rise in the total end-use consumption of electricity within the U.S. in the year 2023 compared to 2022. Additionally, the retail electricity sales to the residential sector witnessed a boost by 2.6% compared to the previous year. Hence, this spike in electricity demand is fueling the growth of the electric power infrastructure market.

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What Trends Will Shape the Electric Power Infrastructure Market Through 2029 and Beyond?
Firms majorly involved in the electric power infrastructure sector are concentrating their efforts on the creation of innovative solutions like autonomous grid management systems. These systems enhance grid versatility and expedite the digital transition in utilities by using cutting-edge software and real-time data integration, enabling efficient performance, observation, and electricity grid control with minor human interference. For instance, Siemens AG, a German automation company, introduced their new product, Gridscale X in February 2024. This modular software can rapidly expand grid capacity and manage distributed energy resources effectively. The platform offers better visibility and centralized network model management, thereby enhancing the efficiency of planning and operational processes. Created with considerations for cybersecurity, interoperability, and versatility, Gridscale X smoothly fits into current IT and OT systems, aiding in the modernization of the grid.

What Are the Main Segments in the Electric Power Infrastructure Market?
The electric power infrastructure market covered in this report is segmented -

1) By Type: Generation Infrastructure, Transmission Infrastructure, Distribution Infrastructure, Renewable Energy Infrastructure, Non-Renewable Energy Infrastructure
2) By Voltage Level: Low Voltage (LV), Medium Voltage (MV), High Voltage (HV), Extra High Voltage (HV)
3) By Application: Residential, Commercial, Industrial, Utility, Transportation, Other Applications

Subsegments:
1) By Generation Infrastructure: Thermal Power Plants, Hydroelectric Power Plants, Nuclear Power Plants, Gas Turbine Power Plants, Combined Cycle Power Plants, Diesel And Gas Engines, Cogeneration Plants
2) By Transmission Infrastructure: High Voltage Transmission Lines (HVAC), Ultra High Voltage Transmission Lines (UHV), Substations, Transmission Towers And Poles, Transformers, Circuit Breakers And Switchgear, Capacitor Banks And Reactors
3) By Distribution Infrastructure: Distribution Substations, Distribution Lines, Distribution Transformers, Distribution Automation Systems, Smart Meters, Distribution Switchgear, Pole-Mounted Equipment
4) By Renewable Energy Infrastructure: Solar Power Plants, Wind Farms, Biomass Power Plants, Geothermal Power Plants, Small Hydro Power Plants, Energy Storage Systems, Renewable Energy Integration Equipment
5) By Non-Renewable Energy Infrastructure: Coal Power Plants, Oil-Fired Power Plants, Natural Gas Power Plants, Nuclear Power Plants, Fuel Supply Infrastructure, Emission Control Systems, Waste Heat Recovery Systems

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Which Top Companies are Driving Growth in the Electric Power Infrastructure Market?
Major companies operating in the electric power infrastructure market are Hitachi Ltd., Siemens Energy, Quanta Services, The AES Corporation, Mastec Inc., Nexans S.A, Tata Power Company Limited, Power Grid Corporation of India Ltd., Elecnor Group, MYR Group Inc., Hyosung Heavy Industries Corporation, NextEra Energy Partners LP, Adani Green Energy Ltd., Ormat Technologies, Sterlite Power, KEPCO E&C, LS Power, AMP Energy, Vena Energy, ENGIE UK

Which Regions Will Dominate the Electric Power Infrastructure Market Through 2029?
Asia-Pacific was the largest region in the electric power infrastructure market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the electric power infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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