DUBLIN--(BUSINESS WIRE)--The "Utilities Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global utilities market grew from $6,000.19 billion in 2022 to $6,416.54 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The utilities market is expected to grow to $8,314.78 billion in 2027 at a compound annual growth rate (CAGR) of 6.8%.
The rapid growth in investments in renewable power generation capacities is expected to drive the utilities market during the forecast period. A large number of power generation companies are investing in renewable energy sources, especially in the USA and European countries. For instance, EDF Energy announced an investment of more than €25 billion in solar power and green electricity tariffs.
Governments globally are also promoting renewable energy sources by offering incentives and subsidies to solar power generation companies. For instance, according to the Clean Energy Australia 2022 Report, 9 GW of new large renewable energy capacity was introduced to the network in 2021, representing 68 large-scale projects under construction worth $18 billion in investment and about 35,000 new jobs. This is expected to boost electric power generation and subsequently drive the utilities market during the forecast period.
Digital technologies are increasingly making their way into the power generation, transmission, and distribution industry to enhance productivity, efficiency, and safety associated with power plants. Digital technologies such as smart grids, sensors, and smart meters provide the company and the customer, with more accurate and real-time accounts of power usage. These technologies help to improve productivity, efficiency, safety, compliance, and reliability in power generation and distribution.
This results in better asset management, planning, and execution, and a faster level of service with higher customer satisfaction. For instance, in Ireland, Whitegate Power Station has installed 140 sensors throughout the plant to digitize vibrations, temperature, and other data to monitor and optimize operations in real-time and minimize downtime. For Instance, some of the major companies that adopted digital technologies include Duke Energy, Engie, National Grid, and NextEra
Scope
Markets Covered:
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 Covered: Water Supply & Irrigation Systems; Sewage Treatment Facilities; Steam & Air-Conditioning Supply; Industrial And Commercial Natural Gas Distribution; Household Natural Gas Distribution; Electric Power Transmission, Control, And Distribution; Power Generation
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Utilities Market Characteristics
4. Utilities Market Product Analysis
5. Utilities Market Supply Chain
6. Utilities Market Customer Information
7. Utilities Market Trends And Strategies
8. Utilities Market - Macro Economic Scenario
9. Utilities Market Size And Growth
10. Utilities Market Regional Analysis
11. Utilities Market Segmentation
12. Utilities Market Segments
13. Utilities Market Metrics
14. Asia-Pacific Utilities Market
15. Western Europe Utilities Market
16. Eastern Europe Utilities Market
17. North America Utilities Market
18. South America Utilities Market
19. Middle East Utilities Market
20. Africa Utilities Market
21. Utilities Market Competitive Landscape
22. Key Mergers And Acquisitions In The Utilities Market
23. Market Background: Utilities Market
24. Recommendations
25. Appendix
A selection of companies mentioned in this report includes
- Electricite De France SA
- Enel SpA
- E.ON SE
- Tokyo Electric Power Co Holdings Incorporated
- Korea Electric Power Corporation
- Uniper
- Engie
- State Power Investment Corporation
- Exelon Corp
- Iberdrola
For more information about this report visit https://www.researchandmarkets.com/r/hskdyw
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