The utilities market is expected to reach over $8,314.78 billion in 2027 at a CAGR of 6.8%!
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.
Utilities Market Coverage
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. The utilities market is segmented into water and sewage; natural gas distribution and electric power generation, transmission, and distribution. Only goods and services traded between entities or sold to end consumers are included.
The Business Research Company covers 22 markets overall in the utilities market providing global market numbers, market growth, market-specific drivers and restraints, trends, and other market specific information. The utilities market is segmented in the following manner:
- 1. Water And Sewage
The water and sewage market consists of sales of water supply and sewage removal services by entities (organizations, sole traders and partnerships) that operate water treatment plants and/or water supply systems and sewer systems or sewage treatment facilities; or provide steam, heated air, or cooled air. The water and sewage market is segmented into water supply & irrigation systems; sewage treatment facilities and steam & air-conditioning supply. Only goods and services traded between entities or sold to end consumers are included.
The Water And Sewage Market is sub-segmented into -
- 1.1. Water Supply & Irrigation Systems
- 1.2. Sewage Treatment Facilities
- 1.3. Steam & Air-Conditioning Supply
- 2. Natural Gas Distribution
The natural gas distribution market consists of sales of natural gas by entities (organizations, sole traders and partnerships) that operate gas distribution systems (e.g., mains, meters) including gas marketers that buy gas from the well and sell it to a distribution system, gas brokers or agents that arrange the sale of gas over gas distribution systems operated by others and establishments that transmit and distribute gas to final consumers. The natural gas distribution is segmented into industrial and commercial natural gas distribution and household natural gas distribution. Only goods and services traded between entities or sold to end consumers are included.
The Natural Gas Distribution Market is sub-segmented into -
- 2.1. Industrial And Commercial Natural Gas Distribution
- 2.2. Household Natural Gas Distribution
- 3. Electric Power Generation, Transmission, And Distribution
The electric power generation, transmission, and distribution market consists of sales of electric power by entities (organizations, sole traders and partnerships) that generate, transmit, and/or distribute electric power. Establishments in this market are engaged in operating generation facilities that produce electric energy; operating transmission systems that convey the electricity from the generation facility to the distribution system; or operating distribution systems that convey electric power received from the generation facility or the transmission system to the final consumer. The electric power generation, transmission, and distribution market is segmented into electric power transmission, control, and distribution and power generation. Only goods and services traded between entities or sold to end consumers are included.
The Electric Power Generation, Transmission, And Distribution Market is sub-segmented into -
- 3.1. Electric Power Transmission, Control, And Distribution
- 3.2. Power Generation
- 4. Alternative Sources
The alternative sources market consists of revenues earned by entities that are engaged in production of electricity using alternative sources. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The Alternative Sources Market is sub-segmented into -
- 4.1. Carbon Capture, Utilization, And Storage
How Can We Help?
The Business Research Company`s Utilities Market Research Practice provides marketing, planning and strategy departments with a wider range of market, business, customer and competitor intelligence services across different segments of the utilities industry. The utilities market research services and solutions The Business Research Company provides are as follows —
- Utilities Market Sizing, Forecast and Trend Analysis
- Utilities Market Competitor Analysis
- Utilities Market Supply Chain Analysis
- Utilities Market Customer Research
- Utilities Market Partner or Distribution Research
- Utilities Market Entry Strategy Research Study
- Utilities Industry Analysis and Profiling
- Utilities Market Regulations