Global Electric Power Generation, Transmission, And Distribution Market Growth 2024, Forecast To 2033
10 Jan, 2024
The electric power generation, transmission, and distribution market have seen robust growth, expanding from $4775.54 billion in 2023 to $5089.02 billion in 2024, showcasing a Compound Annual Growth Rate (CAGR) of 6.6%. Historical growth is associated with fossil fuel-based generation and industrialization. The forecast predicts continued strong growth, reaching $6423.68 billion in 2028 with a 6.0% CAGR, driven by the transition to renewable energy and the modernization of the grid.
Global Electric Power Generation, Transmission, And Distribution Market Key Driver
Anticipated heightened investment activity in the power generation industry is set to drive market growth. Investments in microgrid technology, renewable energy, and advanced technologies are poised to increase. The Global Innovation Report predicts North America's microgrid capacity to reach 1.2 GW by 2024, with an annual revenue of $4.2 billion. The US Senate's enactment of a $1.2 trillion infrastructure bill in August 2021, focusing on clean energy initiatives, further contributes to the growing investment in power generation, consequently boosting the electric power generation, transmission, and distribution markets.
Get A Free Sample Of The Global Electric Power Generation, Transmission, And Distribution Market ReportGlobal Electric Power Generation, Transmission, And Distribution Market Segments
The electric power generation, transmission, and distribution market covered in this report is segmented –
1) By Type: Electric Power Transmission, Control, And Distribution, Power Generation
2) By Type of Operator: Public Operator, Private Operator
3) By End-User: Residential, Commercial, Industrial
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
By Geography: The regions covered in the electric power generation, transmission, and distribution market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the electric power generation, transmission, and distribution market in 2023. Western Europe was the second largest region in the electric power generation, transmission, and distribution market. The regions covered in the electric power generation, transmission, and distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Electric Power Generation, Transmission, And Distribution Industry Players
Electricite De France SA, Enel SpA, Tokyo Electric Power Co Holdings Incorporated, E.ON SE, Korea Electric Power Corporation, State Power Investment Corporation, Iberdrola SA, Exelon Corp, Engie SA, Duke Energy Corp, American Electric Power Co Inc., Ameren Corporation, American Transmission Co, Avangrid Inc., Berkshire Hathaway Inc., Black Hills Corporation, Calpine Corp, CenterPoint Energy Inc., Dominion Energy Inc., Southern California Edison Company, El Paso Electric Railway Company, Engie North America Inc., Entergy Corporation, Exelon Corporation, FirstEnergy Corp, Great Plains Energy Incorporated, Hawaiian Electric Industries Inc., Idaho Power Co, MidAmerican Energy Co, National Grid Plc, NextEra Energy Inc., NRG Energy Inc., Oncor Inc., Pacific Gas and Electric Company, Pennsylvania Power & Light Corp, Public Service Enterprise Group Inc., Southern Company, Xcel Energy Inc.
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Electric Power Generation, Transmission, And Distribution Market Overview
Electric power generation and transmission refer to the different stages of carrying electricity over poles and wires from generators to a home or a business. Electricity distribution refers to the activities of managing and operating electricity works in order to transmit electric energy from the transmission grids to electricity-using organizations and individuals.
Electric Power Generation, Transmission, And Distribution Global Market Report 2023 provides data on the global electric power generation, transmission, and distribution market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The electric power generation, transmission, and distribution market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.