logo

United Kingdom Power Market Size (2024 - 2029)

The United Kingdom power market is poised for growth, driven by an increase in power generation from non-hydro renewable sources and supportive government policies. Despite challenges such as high initial investment costs and limited natural resources, the market is expected to expand due to ongoing and upcoming power projects. The non-hydro renewable power segment is anticipated to experience significant growth, supported by a rise in installation capacities and the sector's acceptance for domestic energy needs. With ambitious renewable energy targets set for 2030, substantial opportunities are anticipated for market participants, contributing to the overall market size expansion.

Home Market Analysis Energy & Power Research Power Research United Kingdom Power Market Market Size

Market Size of United Kingdom Power Industry

United Kingdom Power Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 7.00 %
Market Concentration Medium

Major Players

rd-img

*Disclaimer: Major Players sorted in no particular order

UK Power Market Analysis

The UK power market is expected to register a CAGR of more than 7% during the forecast period of 2022-2027. The COVID-19 pandemic resulted in a sudden decline in power generation in the United Kingdom, and primary energy consumption fell by 11% in 2020 compared to 2019, with a large decline in energy supply. Factors such as increasing power generation from non-hydro renewable power sources, supportive government policies, and upcoming and ongoing power projects are expected to drive the UK power market during the forecast period. However, the high initial investment cost, long investment return period on projects, and limited natural resources are expected to hinder the growth of the UK power market during the forecast period.

The non-hydro renewable power segment is expected to witness significant growth during the forecast period, owing to a year-on-year increase in non-hydro renewable power installation capacities and massive acceptance of the non-hydro renewable power energy sector for domestic needs.

With ambitious renewable energy targets (especially solar and wind) in place by 2030, huge market opportunities exist for the UK power market players in the near future.

Forthcoming and ongoing power projects are expected to drive the UK power market during the forecast period.

UK Power Industry Segmentation

The UK power market report includes:

Power Generation from Sources
Thermal Power
Non-hydro Renewable Power
Hydroelectric
Nuclear Power
Need A Different Region Or Segment?
Customize Now

United Kingdom Power Market Size Summary

The United Kingdom power market is poised for significant growth, driven by a shift towards renewable energy sources, particularly non-hydro renewables like wind, solar, and bioenergy. This transition is supported by government policies and ambitious targets to achieve 100% electricity generation from clean energy by 2035. The market is experiencing a surge in non-hydro renewable power installations, with substantial investments in solar and wind projects. Despite challenges such as high initial costs and limited natural resources, the market is expected to expand, with ongoing and upcoming projects further bolstering growth. The UK's electricity generation landscape is increasingly dominated by renewables, which now account for a substantial portion of the energy mix, surpassing traditional fossil fuels.

The power market in the UK is moderately fragmented, with key players including Electricite de France SA, Ecotricity Group Ltd, Engie SA, Vestas Wind Systems AS, and Siemens Gamesa Renewable Energy SA. Recent government initiatives, such as funding for floating offshore wind projects and the Sizewell C nuclear power project, highlight the commitment to expanding renewable energy infrastructure. The market's growth is also supported by large-scale auctions and investments in new technologies, which are expected to provide significant capacity and contribute to the country's energy needs. As the UK continues to invest in renewable energy projects, the power market is set to experience robust growth, offering substantial opportunities for industry participants.

Explore More

United Kingdom Power Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Power Generation Capacity and Forecast in GW, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Power Generation from Sources

      1. 2.1.1 Thermal Power

      2. 2.1.2 Non-hydro Renewable Power

      3. 2.1.3 Hydroelectric

      4. 2.1.4 Nuclear Power

    2. 2.2 Transmission and Distribution (T&D)

United Kingdom Power Market Size FAQs

The United Kingdom Power Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)

Electricite de France SA, Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy, S.A., Ecotricity Group Ltd. and Engie SA are the major companies operating in the United Kingdom Power Market.

United Kingdom Power Report Snapshots

United Kingdom Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)