How Has the Electric Power Generation Transmission And Distribution Market Size Evolved in Recent Years?
The electric power generation transmission and distribution market has seen considerable growth due to a variety of factors.
• Over the past few years, the market size for electric power generation, transmission, and distribution has seen a robust expansion. It is anticipated to surge from $5167.14 billion in 2024 to $5501.22 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 6.5%.
The observed growth in the past period is attributable to factors such as fossil fuel-based generation, industrialization, growth in population, expansion of grid, and advancements in power generation technologies.
What Is The Forecast For The Electric Power Generation Transmission And Distribution Market Size?
The electric power generation transmission and distribution market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of energy production, conveyance, and distribution is anticipated to witness robust expansion in the forthcoming years, reaching a value of $6861.95 billion in 2029, powered by a compound annual growth rate (CAGR) of 5.7%.
This growth trajectory during the projected period is largely influenced by factors such as transition towards renewable energy, decentralization, and distributed energy resources (DERs), energy storage combination, increased electrification of transportation, as well as upgradation and digitalization of grids. In the forecast period notable trends that are expected to emerge include the development of intelligent grids, microgrids, electrification of heat and air-conditioning systems, grid resilience and protection, and the utilization of hydrogen as an energy medium.
What Are The Essential Drivers Behind The Growth Of The Electric Power Generation Transmission And Distribution Market?
In the projected timeline, the power generation sector is anticipated to witness amplified investment operations. Factors such as investments in microgrid technology, renewable energy sources, and other futuristic technologies are projected to propel the market forward. The Global Innovation Report anticipates the cumulative capacity of microgrids to hit 1.2 GW by 2024 in North America, yielding an annual revenue of $4.2 billion. In August 2021, the Senate of the United States ratified a $1.2 trillion infrastructure bill incorporating funding to expedite clean energy initiatives. This surge in power generation investment is predicted to stimulate the growth of the electric power generation, transmission, and distribution markets.
How Is The Global Electric Power Generation Transmission And Distribution Market Divided Into Key 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:
1) By Electric Power Transmission: Overhead Transmission Lines, Underground Transmission Lines, High-Voltage Direct Current (HVDC) Transmission, Substations
2) By Control: Grid Management Systems, SCADA (Supervisory Control and Data Acquisition) Systems, Protection and Automation Systems, Power Control Systems, Voltage Regulation Equipment
3) By Distribution: Low-Voltage Distribution Systems, Medium-Voltage Distribution Systems, Smart Grid Technology, Distribution Transformers, Distribution Substations
4) By Power Generation: Fossil Fuel-Based Power Generation, Nuclear Power Generation, Renewable Energy Generation, Hydroelectric Power Generation, Combined Heat and Power (CHP) Generation, Distributed Power Generation
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How Are New Trends Impacting The Size Of The Electric Power Generation Transmission And Distribution Market?
Leading entities in the electrical energy production, conveyance, and distribution sector are getting more focussed on devising solutions like advanced national load dispatching systems. These systems are centralized platforms structured to fine-tune the equilibrium of power supply and demand across an extensive geographical area, thereby assuring efficient management of the grid. They are marked by load frequency control (LFC), national generator start-stop planning, supply-demand optimization, integration with renewable energy sources, scalability, adaptability, and a unified platform for multiple operators, all of which enhance robustness, reduce costs, and ensure regulatory adherence. For instance, in November 2024, Hitachi, Ltd., a multinational Japanese firm with ventures in domains like engineering and electronics, nuclear energy, transportation, and industrial systems, was commissioned to erect an advanced national load dispatching system for Transmission and Distribution IT & OT Systems LLC, an amalgamation of Japan's leading power transmission firms. By employing Hitachi Energy's globally recognized Network Manager package, this system will streamline power distribution across Japan, strengthen resilience, and facilitate Japan's shift towards carbon neutrality by enhancing energy management and incorporating renewable energy.
Who Are the Key Players In The Electric Power Generation Transmission And Distribution Market?
Major companies operating in the electric power generation
• transmission
• and distribution market include:
• 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.
What Are The Regional Insights Into The Electric Power Generation Transmission And Distribution Market?
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.
