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Electric Distribution Utility Market Size
- Report ID: GMI12047
- Published Date: Oct 2024
- Report Format: PDF
Electric Distribution Utility Market Size
The global electric distribution utility market size was valued at USD 379.1 billion in 2023 and is projected to grow at a CAGR of over 6.7% from 2024 to 2032, driven by the increasing electricity demand coupled with the global shift toward renewable energy sources. The growing investments aiming to enhance the resilience & efficiency of distribution networks, enabling utilities to meet the growing energy needs of their customers while minimizing service interruptions will proliferate the industry landscape.
For instance, in July 2023, Cleveland-Cliffs announced plans to construct a new distribution transformer manufacturing plant in West Virginia, U.S. This downstream direct investment aims to address the limited supply of distribution transformers across the United States.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Electric Distribution Utility Market Size in 2023: | USD 379.1 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.7% |
| 2032 Value Projection: | USD 686.7 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 280 |
| Tables, Charts & Figures: | 29 |
| Segments covered: | Components, End Use, Voltage, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Electric Distribution Utility Market Scope
