The utilities market has seen considerable growth due to a variety of factors.
• Recently, there has been significant growth in the size of the utilities market. The projected growth is from $6836.95 billion in 2024 to a higher rate of $7305.9 billion in 2025, marking a compound annual growth rate (CAGR) of 6.9%.
This expansion during the historic period is linked to the quick economic development in emerging markets, progress in technology, and the liberalization of the market.
The utilities market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the utilities market is predicted to witness robust expansion. The market size is projected to reach a valuation of $9213.76 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%.
Factors contributing to this anticipated growth in the forecast period include global population increase, accelerated economic expansion, augmenting investments in renewable energy, and a surge in global utility mergers and acquisitions. Key trends expected in this period encompass investment in Power Purchase Agreements (PPAs), more funds channeled towards battery storage for solar energy, deployment of advanced technologies like smart grids and smart meters, concentration on distributed generation models, and investments into solar tracking.
The utilities market is projected to be propelled by the swift escalation in investments in renewable energy production capacities. Numerous power generation firms, particularly in the USA and European countries, are directing their investments towards renewable energy sources. For example, EDF Energy revealed an investment exceeding €25 billion in solar power and green electricity tariffs. Worldwide governments are also endorsing renewable energy sources by providing solar power generation companies with incentives and subsidies. The International Energy Agency, an organization based in France, suggested in June 2024 that worldwide energy investments are likely to exceed $3 trillion for the first time in 2024, with clean technologies receiving nearly $2 trillion of it. This encompasses sectors such as renewable energy, electric vehicles, nuclear power, grids, energy storage, low-emission fuels, efficiency improvements, and heat pumps. So, the brisk surge in renewable power investments would be projected to boost the utilities market.
The utilities market covered in this report 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:
1) By Water And Sewage: Water Supply And Distribution, Wastewater Treatment, Stormwater Management
2) By Natural Gas Distribution: Natural Gas Transmission, Local Gas Distribution Companies (Ldcs), Natural Gas Storage
3) By Electric Power Generation, Transmission, And Distribution: Power Generation (Renewable, Fossil Fuels, Nuclear), High Voltage Transmission, Electric Distribution Systems
The incorporation of digital technologies into the sectors of power generation, transmission, and distribution is progressively prevalent, intensifying productivity, efficiency, and safety at power plants. Real-time and accurate power usage data is provided by digital tools like smart grids, sensors, and smart meters, for both the company and the consumers. These revolutionary tools contribute to the increased productivity, efficiency, safety, compliance, and dependability in the generation and distribution of power, leading to improved asset management, proficient planning and execution, and swift, highly satisfying customer service. The Whitegate Power Station in Ireland, for example, has implemented 140 sensors throughout the premises to instantaneously capture and digitalize data like vibrations and temperature, allowing for the real-time optimization of operations and reduced downtime. Noteworthy companies like Duke Energy, Engie, National Grid, and NextEra, have already adopted these digital technologies.
Major companies operating in the utilities market include:
• Enel SpA
• E.ON SE
• Uniper SE
• State Power Investment Corporation
• Iberdrola
• S.A.
• National Energy Investment Group Co. Ltd.
• Engie S.A.
• Exelon Corporation
• Duke Energy Corporation
• Veolia Environnement S.A.
• Pacific Gas & Electric
• SSE
• GAIL
• NHPC Limited
• Centrica
• Delaware City Water System
• NextEra Energy
• China Datang Corporation
• China Three Gorges Corporation
• Comision Federal de Electricidad
• Dominion Energy Inc.
• Dana Brevini Power - Transmission S.p.A.
• TransAlta Corporation
• Saudi Consolidated Electricity Company
• Adani Power
• Public Service Enterprise Group
• China Resources Gas Group
• China Southern Power Grid Company
• China Water Affairs Group
• Itron Inc.
• AGL Energy
• Shenzhen Water (Group) Co.
• Integrated Gas Services Company LLC
• Israel Electric Corporation
• Limited Liability Company Gazprom Energoholding and Fortum Oyj
• Osaka Gas
• Tata Power
• G.EN. GAZ ENERGIA
• Centria Reti Gas
• CLP Holdings Limited
• Novatek
• Red Eléctrica de España (REE)
• Tokyo Gas
• China Huadian Group Corporation
• Intergen
• ESBI
• National Iranian Oil Company
• Federal Electricity Commission
• China Guodian Corporation
• Areva T & D
• Vattenfall AB
• Drax Power Limited
• ENN Group
• ENMAX Corporation
• Xcel Energy
• China Huaneng Group
• Enbridge Inc
• Marcuras Water Treatment (India) Pvt. Ltd.
• Mahanagar Gas
• GASAG
• Envicare Technologies Pvt Ltd
• IIT Corporation
• Hydro-Quebec
• Artesian Water Company
• Jiangxi Hongcheng Waterworks Co.
• Laheeb Gas Trading
• Enagás
• GE Water and Process Technologies
• NTPC Limited
• Paragon Water Technologies
• Total E&P Canada Ltd.
• Evoqua Water Technologies
• Scottish Power
• Toshiba Water Solutions Private Limited
• Tohoku Electric Power Co
• OGK-4)
• International Power/GDF SUEZ SA
• RWE
• Sempra Energy
• Indraprastha Gas
• Petronet LNG
• TC Energy Corporation
• Gazprom
• Dubai Electricity & Water Authority
• Natural Gas Distribution Company
• Omv petrom
• EDF Energy
• Gujarat State Petronet
• Amprion GmbH
• Ultrapure & Industrial Services
• Fennovoima Ltd.
• Southern Co.
• Korea Gas Corporation
• Kelvin Water Technologies
• Beijing IWHR Corporation
• Abu Dhabi National Energy Company PJSC (TAQA)
• Abu Dhabi National Oil Company
• Aksa Cukurova Dogal Gaz Dagitim Anonim Sirket
• American Electric
• BC Hydro
• Bionics Consortium Pvt. Ltd.
• Cadent Gas Ltd
• Dow Water and Process Solutions
• Électricité de France S.A.
• Endesa
• Eni Gas & Power
• Hammadi Power Service
• Hokkaido Electric Power Company
• Horizon Nuclear Power
• Hydro One Inc
• Italgas
• Kinder Morgan Inc
• Krevox
• Louisville Water Company
• Municipal Water and Sewage Company S.A.
• NaftoGaz Group
• Nawah Energy
• Northumbrian Water
• Nuclear Power Production & Development Company of Iran (NPPD)
• Oneok Inc.
• PGNiG
• Power Grid Corporation of India Limited
• Saudi Electricity Company
• Severen Trent Water
• Siemens LLC
• United utilities
• Williams Companies Inc
• Wuhan Sanzhen Industry Holding Co.
• Yorkshire water
Asia-Pacific was the largest region in the utilities market in 2024. Western Europe was the second-largest region in the utilities market. The regions covered in the utilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa