Current Trends in Utilities Sector 2021

The economic downturn due to the COVID-19 pandemic has stalled growth in the utilities sector. However, as offices and facilities begin to reopen, the utilities sector is expected to see substantial growth. Revenue is projected to increase in the utilities sector due to rising electricity prices and recent economic trends. Analyzing key indicators of the utility industry allows both small businesses and corporations alike to determine industry health and predict future industry trends.

Recommended: Visit our Business Trends page to explore interactive data for other industries.

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Key Sector Indicators

Market Revenue: $638.4 Billion
Profit: $171.1 Billion
Profit Margin: 26.8%
Number of Businesses: 21,165
Employment: 671,000

Sector Revenue Trend

Market revenue is an important key indicator for understanding how much money is coming into a sector. The following graph shows the utility industry’s profit revenue since 2005. Additionally, a projection for the sector’s future revenue through 2027 is given.

Hover over the graph to see the sector’s total revenue for a particular year.

(This graph is interactive!)

Natural Gas Spot Prices 2010–2021

This graph displays the Henry Hub spot prices for natural gas by month over the last decade.

(This graph is interactive!)

Major Players and Industry Competition

Major players in the utilities industry make up roughly 12% of the sector’s total market. Exelon, the largest player in the industry, accounts for almost 5% of the utilities market. This suggests that small businesses and new businesses may have to work harder to establish themselves in the utilities sector.

Hover over the graph to see a particular industry leader’s market share and revenue. Keep in mind that only the largest industry players are shown.

(These graphs are interactive!)

Utilities Formations Trends 2018–2020

Business formation applications measure the number of small businesses and companies entering the industry. These graphs below show the number of business formation applications each month within the utilities sector. 

Total business applications in this sector:

2018: 3,319

2019: 3,512

2020: 4,286

(These graphs are interactive!)

Business Concentration in the US

This graph shows the concentration of Utility sector businesses across the US. Texas accounts for 11% of utilities businesses in the US. Utility businesses are found everywhere throughout the country but less populated states, such as Mississippi, Louisiana, Montana, North Dakota, South Dakota, and Oklahoma, have a large number of utility businesses when compared to their populations. California, Florida, and New York contain 14% of the utility sector’s businesses, but this is proportional to their large populations.

Click on a state to see:

  • Percent of Total Utilities Businesses Nationwide: The percentage of US businesses in the utilities sector within that particular state.
  • Percent of Total Population Nationwide: The percent of adults (18+) within the United State that are residents of that particular state.
  • Population: The number of adults (18+) that are residents of that particular state.
  • Personal Income Per Capita: The amount of money earned per person (found using the state’s income over the state’s population).

(This map is interactive!)

TRUiC's Most Popular Business Ideas in This Sector

Here are our most sought-after business pages related to this industry:

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References