The global generation,
transmission, and distribution market, a part of the utilities industry, grew
at a compound annual growth rate (CAGR) of around 2.5% during the historic
period. The utilities industry showed a steady growth. The growth is mainly due
to the increasing economic activity and increase in demand for electricity
around the world. The growth in global population is the key driver for the
global power generation market, and rapid urbanization in developing regions
and increasing number of consumers has resulted in a steady rise in the demand
for electricity.
In the forecast period, the
global generation, transmission, and distribution market size is expected to be
over $4000 billion by 2021, growing at a CAGR of nearly 3%. This is expected
due to the expected increase in demand for electricity, primarily from
developing countries. Due to higher levels of growth in the economy and
expected improvements in the quality of life over next few years, developing countries
will likely see a swift rise in power demand Furthermore, rising population,
increase in dispensable income, and increasing per capita incomes are expected
to drive the global generation, transmission, and distribution market in the
future.
Find TBRC’s report on the generation, transmission, and
distribution market: https://www.thebusinessresearchcompany.com/report/generation-transmission-and-distribution-global-market-report-2018
Utility business models are continuously evolving from
traditional electricity generation models to new business models such as
distributed generation models to cut costs and improve transmission and
distribution efficiencies. Distributed generation refers to localized power
generation using solar panels and other low-cost technologies to produce
electricity close to the point of consumption.
Major companies in the generation, transmission, and
distribution market, offering new technology include Électricité de France,
Enel, Engie, Iberdrola, Exelon, Duke Energy, E.ON, National Grid, Southern
Company, and NextEra.
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