Utilities Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company's Utilities Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, November 22, 2023 /EINPresswire.com/ -- The global utilities market, a cornerstone of essential services encompassing water, sewage, natural gas distribution, and electric power, reveals a resilient growth trajectory. From $6,000.19 billion in 2022, it surged to $6,416.54 billion in 2023, achieving a robust compound annual growth rate (CAGR) of 6.9%. Projections indicate sustained growth, with the market expected to reach $8,314.78 billion by 2027, maintaining a steady CAGR of 6.8%.

Segmentation Blueprint: Unveiling Utility Dynamics

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
 
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Renewable Energy Investments: Catalyst for Growth

The rapid surge in investments in renewable power generation capacities emerges as a pivotal driver for the utilities market. Power generation companies, notably in the USA and European countries, are heavily investing in renewable energy sources. For instance, EDF Energy's announcement of over €25 billion in solar power and green electricity tariffs underscores the industry's commitment. Globally, governments incentivize renewable energy sources through subsidies and incentives, fostering a favorable environment. This strategic investment surge is expected to fuel electric power generation, propelling the utilities market forward.

Key Market Players: Powerhouses Shaping the Industry

Major companies shaping the utilities market landscape include 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, and Iberdrola. These industry leaders play a crucial role in steering the utilities sector towards sustainability and efficiency.

Digital Transformation: Enhancing Efficiency and Safety

Digital technologies are at the forefront of transforming the power generation, transmission, and distribution landscape. Smart grids, sensors, and smart meters are key components enhancing productivity, efficiency, and safety in power plants. These technologies provide real-time insights into power usage, enabling better asset management, planning, and execution. Companies such as Duke Energy, Engie, National Grid, and NextEra are embracing digital technologies to optimize operations and enhance customer satisfaction.

Regional Dynamics: Asia-Pacific Pioneering Growth

In 2022, Asia-Pacific emerged as the largest region in the utilities market, showcasing the region's commitment to infrastructure development and sustainability. Western Europe secured its position as the second-largest region in the utilities market. Comprehensive regions covered in the global utilities market analysis include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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Utilities Global Market Report 2023 from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Utilities Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on utilities market size, utilities market drivers and trends, utilities market major players, competitors' revenues, market positioning, and market growth across geographies. The utilities market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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