New Analysis from Global Industry Analysts Reveals Steady Growth for Utility Asset Management, with the Market to Reach $4.8 Billion Worldwide by 2026

SAN FRANCISCO, June 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Utility Asset Management - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

• Global competitiveness and key competitor percentage market shares
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Edition: 9; Released: January 2022
Executive Pool: 14481
Companies: 11 - Players covered include ABB Group; Aclara Technologies LLC; Cniguard Ltd.; Emersion Electric Co.; Enetics, Inc.; General Electric Company; Lindsay Manufacturing, Inc.; Netcontrol Oy; S&C Electric Company; Sentient Energy, Inc.; Siemens AG; Vaisala Oyj and Others.
Coverage: All major geographies and key segments
Segments: Application (Transformer, Sub-Station, Transmission & Distribution Lines); Component (Hardware, Software)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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Global Utility Asset Management Market to Reach $4.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Utility Asset Management estimated at US$3.2 Billion, is projected to reach a revised size of US$4.8 Billion by 2026, growing at a CAGR of 6.9% over the analysis period. Transformer, one of the segments analyzed in the report, is projected to record a 7.3% CAGR and reach US$2.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sub-Station segment is readjusted to a revised 6.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1 Billion in 2021, While China is Forecast to Reach $840.8 Million by 2026
The Utility Asset Management market in the U.S. is estimated at US$1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$840.8 Million by the year 2026 trailing a CAGR of 6.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.5% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR.

Transmission & Distribution Lines Segment to Reach US$1.2 Billion by the year 2026
In the global Transmission & Distribution Lines segment, USA, Canada, Japan, China and Europe will drive the 6.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$656.6 Million will reach a projected size of US$1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.