The Business Research Company Global Electricity Generation, Transmission and Distribution Market Report 2022 – Global Market Size, Trends and Forecast
LONDON, GREATER LONDON, United Kingdom, January 5, 2022 /EINPresswire.com/ — The power generation industry is expected to see increased investment activity over the forecast period. Investments in micro-grid technology, renewable energy and other advanced technologies are expected to stimulate the market. According to the Global Innovation Report, the total micro-grid capacity is expected to reach 1.2 GW by 2024 in North America with annual revenue of $ 4.2 billion. The US Senate enacted a $ 1.2 trillion infrastructure bill in August 2021, which includes funding to accelerate clean energy initiatives. Increasing investment in power generation will drive the growth of electricity generation, transmission and distribution market.
Power generation companies are increasingly using batteries to store solar energy during daylight hours. These energy storage sites are made up of large lithium-ion batteries. These batteries store enough energy to be used as a backup in the event of a fuel shortage. They are designed to absorb solar energy and feed it back into the grid. These systems minimize the need for capital intensive power generation plants, thereby improving transmission and distribution efficiency and thereby reducing operating costs. For example, by 2025, the World Bank Group aims to fund 17.5 gigawatt hours (GWh) of battery storage, more than tripling the 4 to 5 GWh currently installed in all developing countries.
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The global electricity generation, transmission and distribution market size is expected to grow from $ 4.09 trillion in 2021 to $ 4.43 trillion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The growth in the electricity generation, transmission and distribution market is primarily driven by companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working, and shutting down business activities which resulted in operational challenges. The growth of the electricity generation, transmission and distribution market is expected to reach $ 5.93 trillion in 2026 at a CAGR of 7.6%.
The main players in the global electricity generation, transmission and distribution sector are Electricite De France SA, Enel SpA, Tokyo Electric Power Co Holdings Incorporated, E. ON SE, Korea Electric Power Corporation, State Power Investment Corporation , Iberdrola, Exelon Corp. , Engie and Duke Energy Corp.
Asia-Pacific was the largest region in the electricity generation, transmission and distribution market in 2021. Western Europe was the second largest region in the electricity generation, transmission and distribution market. electricity. The regions covered by the Electricity Generation, Transmission and Distribution Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The TBRC Global Power Generation, Transmission and Distribution Market Analysis Report is segmented by Type into Power Transmission, Control and Distribution, Power Generation, by End User into Residential, Commercial, industrial, by type of operator, public operator, private operator.
Global Electricity Generation, Transmission and Distribution Market Report 2022 – By Type (Electricity Transmission, Control and Distribution, Electricity Generation), By End User (Residential, Commercial, Industrial), By Operator Type (Public Operator, Private Operator) – Global Market Size, Trends and Forecasts 2022 – 2026 is part of a series of new reports from The commercial research company which provides an overview of the electricity generation, transmission and distribution market, a forecast of the electricity generation, transmission and distribution market size and growth for the entire market , electricity generation, transmission and distribution market segments, geographies, electricity generation, transmission, and distribution market trends, market drivers of generation, transmission and distribution of electricity, constraints, revenues, profiles and market shares of the main competitors.
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