A Comprehensive Global Utilities Industry Overview: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast
LONDON, Aug. 30, 2023 /PRNewswire/ -- According to the utilities industry analysis by the Global Market Model, the utilities industry is poised to experience a compound annual growth rate (CAGR) of 6.6% from 2022 to 2032. In 2022, the worldwide utilities market achieved a valuation of $6037.3 billion, contributing 6% to the overall global GDP. The anticipated surge in investments within the realm of renewable power generation capacities is foreseen as a pivotal driver propelling the market's growth throughout the forecast period.
Which segment and region holds the largest utility industry market share?
In 2022, the electric power generation, transmission, and distribution segment emerged as the largest component within the utilities market, capturing a substantial utility industry market share of 74.2% in the total utility industry market. Furthermore, within the utilities market, China held a prominent position as the primary market, commanding a significant portion of 19.5% in the global landscape during the same year.
Utilities industry forecast
The projected outlook remains considerably consistent with the previous forecast set for the conclusion of 2022. The prices of natural gas are anticipated to exert an influence on electricity prices. Factors such as the escalation in natural gas prices stemming from the Russia-Ukraine conflict, disruptions in supply chains, and the eventual stabilization of natural gas prices over an extended period were all factored into the earlier forecast update. As a result, the forecasts for this market have maintained their stability throughout this update cycle.
Gain more insights into the utilities industry trends with a free consultation:
The Global Market Model offers insights on the following key industry indicators for the utilities industry –
- Electricity generation
- Amount of sewage treated
- Electricity generation from oil
- Electricity generation from hydropower
- Electricity generation from coal
- Electricity generation from natural gas
- Electricity generation from nuclear sources
- Electricity generation from renewable sources
- Number of enterprises
- Number of employees
The Global Market Model provides up-to-date updates on the utility industry. Kindly let us know your needs and specifications –
https://www.thebusinessresearchcompany.com/global-market-model/demo-request
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The Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics for 7000 markets across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
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