The Business Research Company’s Utilities Market Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, June 21, 2021 /EINPresswire.com/ — According to the new market research report ‘Utilities Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the global utilities market is expected to grow from $4230.3 billion in 2020 to $4534.38 billion in 2021 at a compound annual growth rate (CAGR) of 7.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5996.57 billion in 2025 at a CAGR of 7%. The rapid growth in investments in renewable power generation capacities is expected to drive the utilities market during the forecast period.
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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.
Trends In The Global Utilities Market
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.
Global Utilities Market Segments:
The global utilities market is further segmented based on type, type of operator and geography.
By Type: Water And Sewage, Natural Gas Distribution, Electric Power Generation, Transmission, And Distribution
By Type of Operator: Public Operator, Private Operator
Sub segments Covered: Water Supply & Irrigation Systems, Sewage Treatment Facilities, Steam & Air-Conditioning Supply, Industrial And Commercial Natural Gas Distribution, Household Natural Gas Distribution, Electric Power Transmission, Control, And Distribution, Power Generation
By Geography: The global utilities market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global utilities market, accounting for 41% of the market in 2020.
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Utilities Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides utilities market overviews, analyzes and forecasts market size and growth for the utilities global market, utilities global market share, utilities global market players, utilities global market segments and geographies, utilities global market’s leading competitors’ revenues, profiles and market shares. The utilities global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Utilities Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Utilities Market Organizations Covered: Électricité de France; Enel; Engie; Iberdrola; Exelon.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
Here is a list of reports from The Business Research Company similar to the Utilities Global Market Report 2021:
Electric Power Generation, Transmission, And Distribution Global Market Report 2021: COVID-19 Impact And Recovery To 2030
Electrical Equipment Global Market Report 2021: COVID-19 Impact And Recovery To 2030
Natural Gas Distribution Global Market Report 2021: COVID-19 Impact And Recovery To 2030
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Source: EIN Presswire