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Breakthroughs that will re-shape one of the greenest industry on earth

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Global Electricity Market


In 2011, worldwide capital spending on electric power generation infrastructure is predicted to hit close to $404 billion based on research by Visiongain.


By 2014, the global electricity market should have a projected worth of $2,694 billion, climbing over 68% in five years to consumption of nearly 20,000 Terawatt-hour (Twh), according to calculations from MarketLine. Industry-related electric power needs represent almost 38% of the global electricity market’s overall worth.


In the two decades ending 2008, net electricity generation grew at a yearly rate of 3% while delivered energy consumption grew under 2% in the same period, according to the US Energy Information Administration (EIA). Electric power demand is growing at almost 2.5% annually and is forecast to continue at this rate until 2035. The EIA expects new electricity generation will grow almost 85% to close to 26 trillion kWh in 2020 and over 35 trillion kWh in 2035. In 2010, global electric power demand rose almost 5.5%.



Electric Power Equipment


The global electric equipment market segment - including power cables, wires and electrical switchgear - saw total revenue of over $179 billion last year, with power cable sales the strongest sub-segment generating $46 billion. MarketLine research shows that with an expected compound annual growth rate of more than 4% over the next four years, the global electric equipment market value should reach $219.5 billion before 2016.



Key Regional Market Share


The fastest rate of growth in global electricity demand in 2010 was in non-OECD countries, with a 10% jump. According to the EIA, more than a fifth of the global population, or almost 1.5 billion people, lacked electric power in 2009. Over 70% of sub-Saharan Africa’s population has no electric power. Getting electricity to underpowered areas can be a rapid process. The Vietnamese government put an electrification initiative into action that saw the number of rural homes with electricity jump from 50% in 1996 to 95% 12 years later.


Just under half the world’s electric power supply was used by non-OECD countries in 2008. This level of consumption is expected to rise to 60% by 2035. Non-OECD nation electricity generation is rising at an annual rate of almost 2.5%. The generation rate in China and India is above average at 4%, expected to remain steady up to 2035. In the same period, electricity generation in OECD countries will around 1%.


The global electric power market is moderately competitive, though Asia-Pacific represents over 40% of the market with China Southern Power Grid a top provider at over 12% of the market in terms of volume, according to MarketLine.


Non-OECD Net Electricity Generation by Region, *In Trillion Kilowatthours, 1990-2035  



Electricity Supply Sources


Coal is the top energy source for the generation of electric power, representing 40% of the global supply of electric power; coal is set to fall to 37% by 2035, according to the EIA. The use of oil has been falling steadily due to high prices. Environment-conscious governments are turning away from fossil fuels in favor of renewable energy. Consumption of renewable energy is set to continue increasing at its current rate of over 3% to 2035. Renewable energy is followed by gas, growing at over 2.5% annually, and nuclear at just under 2.5%.


 World Net Electricity Generation by Fuel *In Trillion Kilowatthours, 2008-2035  


Top Electricity Utility Leaders


The world’s top electricity utility companies are E.On AG, Endesa SA, Enel SpA, EDF, Scottish & Southern, Exelon Corp, Iberdrola SA, CEZ AS, Vattenfall AB, and NextEra.


German-based E.On AG had 2010 revenue of almost $116,000 million, with profit in excess of $12,000 million. Its return on invested capital (ROIC) stands at almost 12%, and its three-year compound growth rate (CGR) in terms of revenue is close to 9%.


Spanish electricity company Endesa SA had revenue of more than $34,000 million in 2010, representing annual profit of almost $5,000 million, with ROIC of nearly 9% and three-year CGR of over 7.5%.


Italian-based Enel SpA’s 2010 profit hit close to $8,000 million, with ROIC of 5.5% and three-year CGR of almost 18.5%.



Market Outlook


Almost 1.45 billion people do not have electric power, representing growth potential in terms of demand for the global electricity industry. In the future, there is expected to be greater investment in developing clean energy technologies, supported by legislative measures to protect the environment and cut down on greenhouse gas emissions.



Leading Industry Associations




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