Global electric utility industry faces moderate growth
New research estimates the global electric utilities industry to reach $2,218 billion in 2017. This is according to Lucintel's most recent industry analysis.
With a compound annual growth rate of 3.7 percent over the next five years, the acceleration is said to be moderate and will be challenged by a number of factors including: deregulation, competition from non-traditional sources, carbon emissions, an aging workforce and infrastructure, security and technology advancement, utility performance, operational effectiveness and escalating fuel costs, according to the research.
Propelling the industry globally will be the development of transmission line expansion and upgrades for existing lines or replacement of aging assets, as well as technological advancement and projected growth in electric appliances driving electricity consumption. The trend of unbundling utilities into generators, transmission system operators, and distribution is expected to increase, according to Lucintel.
Lucintel predicts double-digit growth for global smart grid