How Big Is the Energy Utilities Market | Trends & Growth 2031

Q: Which sectors are driving electricity demand the most?

Industries such as data centers and electric mobility infrastructure are contributing significantly to rising electricity consumption.

Q: What role does digitalization play in the utilities market?

Digital platforms enable real-time monitoring, demand forecasting, and consumer energy management.

Q: What is fueling the growth of the energy utilities market?

A shift toward renewable energy sources, rising global electricity needs, and investments in smart grid technologies are major drivers.

Q: What is the projected size of the energy utilities market?

The energy utilities market is anticipated to exceed USD 8.5 trillion by 2031.

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6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA6378

Publication Date: Jul 2025

How Big Is the Energy Utilities Market?

According to 6Wresearch internal database and industry insights, the energy utilities market was valued at USD 5.9 trillion in 2024 and is projected to reach over USD 8.5 trillion by 2031, growing at a CAGR of 5.4% during the forecast period.

This expansion is driven by the shift toward cleaner energy sources, increasing electrification across industries and households, and government-led decarbonization policies globally.

Growth Drivers of the Energy Utilities Market

Growing global electricity demand due to urbanization and industrialization
Evolution toward renewable energy like solar, wind, and hydropower
Digitization of grid operations enabling real-time monitoring and optimization
Development of electric vehicle infrastructure, requiring power distribution upgrades
Advancement in distributed energy systems such as rooftop solar and microgrids
Government mandates pushing utilities to invest in sustainable energy projects

Energy Utilities Market Trends

Energy Utilities Market is undergoing rapid transformation as utilities pivot to cleaner energy portfolios, adopt smart meters, and upgrade legacy grid infrastructure. The integration of AI and IoT in grid management, rising consumer demand for energy transparency, and growth in decentralized energy generation are shaping a more resilient and responsive utility ecosystem.

Emerging Developments in Energy Utilities Market

In the Energy Utilities Industry, innovations in virtual power plants, blockchain-enabled energy transactions, hydrogen-based utilities, and grid-scale battery storage are redefining utility operations. Major players are investing in carbon capture solutions, smart substations, and customer-centric digital platforms to increase efficiency and regulatory compliance. In addition to this, cross-border electricity trade and hybrid energy networks are emerging across regions to address power reliability challenges.