The Utilities Global Market Report 2023 by The Business Research Company, provides utilities 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 Utilities Global Market Report 2023, the utilities market size will grow 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 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 utilities 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.
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The utilities market is segmented:
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
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.
The utilities market report table of contents includes:
The Utilities market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Utilities Market Characteristics
4. Utilities Market Product Analysis
5. Utilities Market Supply Chain
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21. Key Mergers And Acquisitions In The Utilities Market
22. Market Background: Metal Products Market
23. Recommendations
24. Appendix
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