Yahoo Finance Utilities Global Market to Reach $8.10 Trillion by 2026 at a CAGR of 7.9%
Dublin, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The "Utilities Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global utilities market is expected to grow from $5,488.88 billion in 2021 to $5.969.68 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The market is expected to reach $8,105.48 billion in 2026 at a CAGR of 7.9%.
The utilities market consists of sales of electric power, natural gas, steam supply, water supply, and sewage removal services by entities (organizations, sole traders and partnerships) that provide electric power, natural gas, steam supply, water supply, and sewage removal services. The market excludes waste management and remediation services which collect, treat, and dispose of waste materials; but do not use sewer systems or sewage treatment facilities.
The main types of utilities are water and sewage, natural gas distribution, electric power generation, transmission, and distribution. Sewage water is the waste from a community's residents. Wastewater is the water that is expelled from homes after being used for various reasons such as dishwashing, laundry, and toilet flushing. The different operator types include public operator; private operator.
Asia Pacific was the largest region in the utilities market in 2021. Western Europe was the second largest region in the utilities market. The regions covered in the global utilities market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 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 2020 Report, more than 2.2 GW of new large renewable energy capacity was introduced to the network in 2019, representing 34 projects worth $4.3 billion in investment and about 4000 new jobs . This is expected to boost the electric power generation and subsequently drive the utilities market during the forecast period.
Digital technologies are increasingly making their way into 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 account 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, execution, and 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 adopted digital technologies include Duke Energy, Engie, National Grid and NextEra.
ScopeMarkets Covered:
By Type: Water and Sewage; Natural Gas Distribution; Electric Power Generation, Transmission, and Distribution
By Type of Operator: Public Operator; Private Operator
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. Utilities Market Characteristics
3. Utilities Market Trends And Strategies
4. Impact Of COVID-19 On Utilities
5. Utilities Market Size And Growth
6. Utilities Market Segmentation
7. Utilities Market Regional And Country Analysis
8. Asia-Pacific Utilities Market
9. China Utilities Market
10. India Utilities Market
11. Japan Utilities Market
12. Australia Utilities Market
13. Indonesia Utilities Market
14. South Korea Utilities Market
15. Western Europe Utilities Market
16. UK Utilities Market
17. Germany Utilities Market
18. France Utilities Market
19. Eastern Europe Utilities Market
20. Russia Utilities Market
21. North America Utilities Market
22. USA Utilities Market
23. South America Utilities Market
24. Brazil Utilities Market
25. Middle East Utilities Market
26. Africa Utilities Market
27. Utilities Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Utilities Market
29. Utilities Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
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/jgh7md
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