2025-2034 Electric Power Generation, Transmission, And Distribution Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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What Will the Electric Power Generation, Transmission, And Distribution Industry Market Size Be by 2025?
The market size of electric power generation, transmission, and distribution has significantly expanded in the past years. The market is projected to increase from $5167.14 billion in 2024 to $5501.22 billion in 2025, progressing at a compound annual growth rate (CAGR) of 6.5%. This development during the historic era can be linked to the utilization of fossil fuel for power generation, industrial growth, population rise, grid enlargement, and improvements in power generation methods.

What's the Long-Term Growth Forecast for the Electric Power Generation, Transmission, And Distribution Market Size Through 2029?
The market for power generation, transmission, and distribution is set to experience consistent growth in the coming years, expanding to a size of $6861.95 billion by 2029, with a predicted compound annual growth rate (CAGR) of 5.7%. This growth over the forecast period can be traced back to factors such as the shift towards renewable energy, decentralisation and dispersed energy resources, integration of energy storage, electrification in transport sectors, along with modernisation and digitisation of the grid. In the forecast period, notable trends could include the rise of smart grids, microgrids, the use of electricity for heating and cooling, enhancing grid resilience and security, and hydrogen's role as an energy carrier.

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What Are the Key Growth Drivers Fueling the Electric Power Generation, Transmission, And Distribution Market Expansion?
The power generation sector is predicted to witness a surge in investment activities in the coming years. The market is anticipated to be propelled by investments into microgrid technology, renewable energy, and other cutting-edge innovations. As per the Global Innovation Report, it is estimated that by 2024, the total capacity of microgrids in North America will peak at 1.2 GW, generating annual revenue of approximately $4.2 billion. Moreover, a $1.2 trillion infrastructure bill was passed by the United States Senate in August 2021, incorporating funding for the acceleration of clean energy initiatives. Such burgeoning investments in power generation are set to stimulate the development of the electric power generation, transmission, and distribution sectors.

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What Are the Key Trends Driving Electric Power Generation, Transmission, And Distribution Market Growth?
Key industry players in the field of electric power generation, transmission, and distribution are working on innovative solutions such as the next-generation nationwide load dispatching systems. This system is essentially a centralized platform engineered to maintain an equilibrium between the supply and demand of electricity over extensive geographic regions, contributing to efficient grid management. Its distinct features encompass load frequency control (LFC), nationwide generator planning for start-stop, optimum supply-demand coordination, incorporation of renewable energy resources, scalability and flexibility, and a consolidated interface for several operators, which, in turn, improves resilience, reduces costs, and maintains regulatory compliance. For example, in November 2024, the Japan-based multinational conglomerate, Hitachi, Ltd., which operates in arenas like engineering and electronics, nuclear, transportation, and industrial systems, secured a contract to establish a next-generation nationwide load dispatching system for Transmission and Distribution IT & OT Systems LLC, a coalition of leading power transmission companies in Japan. Utilizing the globally acclaimed Network Manager package from Hitachi Energy, this system will streamline electricity distribution throughout Japan, boost resilience, and aid Japan's shift towards carbon neutrality via enhanced energy management and the inclusion of renewable energy.

How Is the Electric Power Generation, Transmission, And Distribution Market Segmented?
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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Which Companies Are Leading the Charge in Electric Power Generation, Transmission, And Distribution Market Innovation?
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.

Which Regions Are Leading the Global Electric Power Generation, Transmission, And Distribution Market in Revenue?
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.

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