Electric Power Generation, Transmission, And Distribution Global Market Trend Analysis, Industry Forecast Report To 2032

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The Electric Power Generation, Transmission, And Distribution Global Market Report 2023 by The Business Research Company, provides electric power generation, transmission, and distribution market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Electric Power Generation, Transmission, And Distribution Global Market Report 2023, the global electric power generation, transmission, and distribution market size will grow from $4,478.61 billion in 2022 to $4,796.70 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market size of electric power generation, transmission, and distribution is expected to grow to $6,180.66 billion in 2027 at a compound annual growth rate (CAGR) of 6.5%.

The power generation industry is expected to see increased investment activity in the forecast period. Investments in microgrid technology, renewable energy, and other advanced technologies are expected to drive the market.

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The electric power generation, transmission, and distribution market is segmented:

1) By Type: Electric Power Transmission, Control, And Distribution, Power Generation

2) By End-User: Residential, Commercial, Industrial

3) By Type of Operator: Public Operator, Private Operator

Subsegments Covered: Electric Power Distribution, Electric Bulk Power Transmission And Control, Hydro Electricity, Fossil Fuel Electricity, Nuclear Electricity, Solar Electricity, Wind Electricity, Geothermal Electricity, Biomass Electricity, Other Electricity

Electric power generation companies are increasingly using batteries to store solar energy during daylight hours. These energy-storage sites consist of large lithium-ion batteries. These batteries store enough energy to serve as a backup in case of fuel shortages. They are designed to absorb solar power and feed it back to the grid. These systems minimize the need for capital-intensive power generation plants, thereby enhancing transmission and distribution efficiencies and thus reducing operational costs. For instance, by 2025, the World Bank Group aims to fund 17.5-gigawatt hours (GWh) of battery storage, more than tripling the current 4-5 GWh installed across all developing nations.

The electric power generation, transmission, and distribution market report table of contents includes: