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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