The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Electric Power Generation, Transmission, And Distribution Global Market Report 2023, the electric power generation, transmission, and distribution market is expected to show significant growth in the forecast period.

The electric power generation, transmission, and distribution market have demonstrated robust growth, witnessing a remarkable upswing from $4,775.54 billion in 2023 to an anticipated $5,089.02 billion in 2024. This translates to a commendable Compound Annual Growth Rate (CAGR) of 6.6% and is attributed to a confluence of factors such as fossil fuel-based generation, industrialization, population growth, grid expansion, and advancements in power generation technologies.

Charting a Dynamic Course: Future Projections and Drivers

• A Bright Horizon: The market is poised for continued expansion, with projections reaching $6,423.68 billion by 2028 at a CAGR of 6.0%.
• Drivers of Growth: The forecasted surge is propelled by the transformative forces of renewable energy transition, decentralization, distributed energy resources (DERs), energy storage integration, electrification of transportation, and grid modernization and digitalization.
• Emerging Trends: Notable trends shaping the landscape include the rise of smart grids, microgrids, electrification of heating and cooling, grid resilience and security, and the growing prominence of hydrogen as an energy carrier.

View More On The Electric Power Generation, Transmission, And Distribution Market Report 2023 – https://www.thebusinessresearchcompany.com/report/electric-power-generation-transmission-and-distribution-global-market-report

Investment Surge to Energize Power Generation Industry

• Predicted Surge: The power generation industry is anticipated to experience heightened investment activity in the upcoming years.
• Microgrid Technology: Investments in microgrid technology are expected to play a pivotal role, with the Global Innovation Report forecasting a total capacity of 1.2 GW in North America by 2024, generating an annual revenue of $4.2 billion.
• Infrastructure Bill Impact: The U.S. enacted a $1.2 trillion infrastructure bill in August 2021, earmarking funds to accelerate clean energy initiatives, further propelling the industry’s growth.
• Key Players: Major companies in the market include Electricite De France SA, Enel SpA, Tokyo Electric Power Co Holdings Incorporated, E.ON SE, and others.

Greening the Power Landscape: The Rise of Green Product Label Cables

• Strategic Focus: Major industry players are directing their efforts towards developing green product label cables to gain a competitive edge.
• Definition of Green Product Label: A certification awarded to products meeting specific environmental standards, indicating sustainability and reduced environmental impact.
• Prysmian Group’s ECO CABLE: Launched in April 2021, this certifiable green product label aligns with EU Ecolabel Regulation No. 66/2010 and emphasizes factors such as carbon footprint, absence of harmful substances, recyclability, and transmission efficiency.

Segmentation Insights: Unraveling Market Dynamics

• Type Segmentation: Electric Power Transmission, Control, And Distribution, Power Generation.
• Type of Operator Segmentation: Public Operator, Private Operator.
• End-User Segmentation: Residential, Commercial, Industrial.

Regional Dominance: Asia-Pacific Leads the Charge

• Largest Region in 2023: Asia-Pacific emerged as the dominant player in the electric power generation, transmission, and distribution market in 2023.

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The Electric Power Generation, Transmission, And Distribution Global Market Report 2023 provides an in-depth analysis on the electric power generation, transmission, and distribution market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the electric power generation, transmission, and distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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