The Business Research Company’s Utilities Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
LONDON, GREATER LONDON, UK, August 15, 2022 /EINPresswire.com/ — As per The Business Research Company’s “Utilities Global Market Report 2022”, the utilities market size is expected to grow from $5.49 trillion in 2021 to $5.97 trillion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The growth in the utilities market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The utilities market is expected to reach $8.10 trillion in 2026 at a CAGR of 7.9%. According to the utilities market overview, the rapid growth in investments in renewable power generation capacities is expected to drive the market during the forecast period.
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Key Trends In The Utilities Market
According to the utilities industry research, 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.
Overview Of The Utilities Market
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.
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Utilities Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
• By Type: Water And Sewage, Natural Gas Distribution, Electric Power Generation, Transmission, And Distribution
• By Type of Operator: Public Operator, Private Operator
• By Geography: The global utilities market analysis report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific holds the largest share in the market.
Major market players such as 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, and Iberdrola.
Trends, opportunities, strategies and so much more.
Utilities Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of utilities global market. The market report analyzes utilities global market size, utilities global market growth drivers, utilities market segments, utilities market major players, utilities market growth across geographies, and utilities market competitors’ revenues and market positioning. The utilities market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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