What are the recent trends in market size and growth for the utilities market?
The utilities market size has grown strongly in recent years. It will grow from $6836.95 billion in 2024 to $7305.9 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to rapid economic growth in emerging markets, technological advances and market liberalization.
The utilities market size is expected to see strong growth in the next few years. It will grow to $9213.76 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to global population growth, faster economic growth, rising investments in renewable energy and increase in global utility mergers and acquisitions. Major trends in the forecast period include investing in PPAs, investing in battery storage for solar energy, investing in technologies such as smart grids, smart meters, focusing on distribution generation models and investing in solar tracking.
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What are the key forces behind the utilities market’s growth in recent years
The rapid growth in investments in renewable power generation capacities is expected to drive the utilities market during the forecast period. Many power generation companies are investing in renewable energy sources, especially in the USA and European countries. For instance, EDF Energy announced an investment of more than €25 billion in solar power and green electricity tariffs. Governments globally are also promoting renewable energy sources by offering incentives and subsidies to solar power generation companies. For instance, in June 2024, according to the International Energy Agency, a France-based intergovernmental organisation, global energy investments are projected to surpass $3 trillion in 2024 for the first time, with approximately $2 trillion directed toward clean technologies. This includes sectors such as renewable energy, electric vehicles, nuclear power, grids, energy storage, low-emission fuels, efficiency enhancements, and heat pumps. Therefore, rapid growth in renewable power investments will be expected to drive utilities market.
What are the major segments of 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
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Which companies dominate the utilities market?
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
What major trends will shape the utilities market during the forecast period?
Digital technologies are increasingly making their way into the 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 accounts 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, and execution, and a 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 that adopted digital technologies include Duke Energy, Engie, National Grid, and NextEra.
What are the key regional dynamics of the utilities market, and which region leads in market share?
The countries covered in the utilities market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
What Does The Utilities Market Report 2025 Offer?
The utilities market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Utilities refer to companies or organizations that provide essential public services such as electricity, natural gas, water, sewage, and sometimes telecommunications. These services are fundamental for households, businesses, and industries to function.
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