After years of stagnant growth, U.S. electricity demand recently surged. This increase was driven in part by the commercial sector, particularly the rapid expansion of data centers and the adoption of artificial intelligence. The surge is expected to continue, signaling a shift toward a more electrified economy, with significant implications for economic competitiveness and energy infrastructure.

The net summer capacity of the electric power sector in the United States was estimated at 1.2 terawatts in 2024. This figure is expected to increase by more than 97 percent in the coming three decades, reaching almost three terawatts by 2050.

United States Electricity Consumption data was reported at 10.243 kWh/Day bn in Mar 2025. This records a decrease from the previous number of 11.765 kWh/Day bn for Feb 2025. United States Electricity Consumption data is updated monthly, averaging 9.940 kWh/Day bn from Jan 1991 (Median) to Mar 2025, with 411 observations. The data reached an all-time high of 13.179 kWh/Day bn in Jul 2024 and a record low of 7.190 kWh/Day bn in Apr 1991. United States Electricity Consumption data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB004: Electricity Supply and Consumption. [COVID-19-IMPACT]

The United States' energy production reached an estimated 104.38 quadrillion British thermal units (Btu) in 2024, while consumption amounted to approximately 93.51 Btu. The country's energy production is projected to reach around 109 Btu by 2050.

The Annual Energy Outlook presents longterm annual projections of energy supply, demand, and prices focused on the U.S. through 2050, based on results from EIA's National Energy Modeling System (NEMS). NEMS enables EIA to make projections under alternative, internally-consistent sets of assumptions, the results of which are presented as cases. The analysis in AEO2014 focuses on five primary cases: a Reference case, Low and High Economic Growth cases, and Low and High Oil Price cases. Users of the EIA API are required to obtain an API Key via this registration form: http://www.eia.gov/beta/api/register.cfm

Forecast: Energy Consumption in Industry in the US 2023 - 2027 Discover more data with ReportLinker!

This API provides data back to 1990 and projections annually, monthly, and quarterly for 18 months. Summarizes the outlook for U.S electricity generation, consumption, retail prices, fuel consumption, fuel inventories, fuel costs, residential usage, and residential customers. Users of the EIA API are required to obtain an API Key via this registration form: http://www.eia.gov/beta/api/register.cfm

Forecast: Energy Consumption in Transport in the US 2023 - 2027 Discover more data with ReportLinker!

Forecast: Solar Energy Consumption in the US 2022 - 2026 Discover more data with ReportLinker!

Forecast: Renewable Energy Consumption in the US 2024 - 2028 Discover more data with ReportLinker!

The size of the North America Power Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of % during the forecast period. The power industry in North America is experiencing a profound transformation, influenced by advancements in technology, changes in regulations, and evolving energy requirements. This sector, which includes the generation, transmission, and distribution of electricity, is essential to the economic framework of the region, catering to both residential and industrial consumers. Recent developments indicate a marked shift towards cleaner and more sustainable energy options, particularly renewables, while still maintaining a significant dependence on natural gas. This transition is driven by a mix of environmental regulations, technological progress, and an increasing focus on minimizing greenhouse gas emissions. The North American power industry is shaped by several key factors, including the growing incorporation of renewable energy sources such as wind and solar, which are altering the energy landscape and prompting necessary upgrades to grid infrastructure to enhance reliability and adaptability. Innovations in energy storage and smart grid technologies are also critical, improving the efficiency and stability of power distribution systems. Furthermore, regulatory frameworks and incentives designed to encourage energy efficiency and lower carbon emissions are expediting the adoption of cleaner technologies. As the region continues to progress through its energy transition, the North American power industry is set for expansion, characterized by a combination of upgraded infrastructure, cutting-edge technologies, and a robust commitment to sustainability. This transformation mirrors broader global movements towards cleaner and more resilient energy systems. Recent developments include: In August 2022, The U.S. Department of Energy's Water Power Technologies Office has given GE Research, the technological development division of General Electric Company, a 30-month, USD 4.3 million projects to increase the operating capacity and flexibility of hydropower assets., In October 2022, Belltown Power U.S. sold a 6 GW portfolio of solar, coupled, and stand-alone battery storage development projects to ENGIE North America (ENGIE). 33 projects totaling approximately 2.7 GW of solar energy, 0.7 GW of paired storage, and 2.6 GW of standalone battery storage are included in the transaction. Acquisition of 33 early to late-stage projects will accelerate renewables development across multiple states in North America., In November 2022, EE North America joined up with Elio Energy to build a 2GW solar power pipeline and energy storage assets in Arizona and neighboring states in the United States. The company intends to build 10GW of renewable energy capacity in the country by 2026 in order to assist state and local governments across the United States in meeting their net-zero emissions targets.. Key drivers for this market are: 4., Supportive Government Policies and Incentives4.; Environmental Concerns. Potential restraints include: 4., Fossil Fuel Subsidies. Notable trends are: Conventional Thermal is Likely Dominate the Market.

In total, approximately ** exajoules of energy were consumed in the North America region during 2024. In the future, it is projected that North America's final energy consumption will remain between **** and **** exajoules from 2030 until 2050.

United States EIA Forecast: Electricity Consumption: Retail Sales: Commercial data was reported at 3.541 kWh/Day bn in Dec 2019. This records an increase from the previous number of 3.504 kWh/Day bn for Nov 2019. United States EIA Forecast: Electricity Consumption: Retail Sales: Commercial data is updated monthly, averaging 3.601 kWh/Day bn from Mar 2016 (Median) to Dec 2019, with 46 observations. The data reached an all-time high of 4.286 kWh/Day bn in Aug 2019 and a record low of 3.400 kWh/Day bn in Apr 2018. United States EIA Forecast: Electricity Consumption: Retail Sales: Commercial data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB069: Electricity Supply and Consumption: Forecast: Energy Information Administration.

According to Cognitive Market Research, the global Electricity Generation market size was USD 2154.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.80% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 861.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 646.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 495.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 107.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 43.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
Thermal Generation is the market leader in the Electricity Generation industry

Market Dynamics of Electricity Generation Market

Key Drivers for Electricity Generation Market

Rising need for cooling boosts the electricity generation market: The increased demand for cooling is projected to drive the electricity generating market in the future years. Cooling is the process of lowering the temperature of an object or environment, which is usually accomplished by transporting heat away from the intended location, typically utilizing air or a cooling medium. Power generation can be utilized to cool by running air conditioning (AC) and fans to keep indoor temperatures comfortable. For instance, According to the International Energy Agency, an autonomous intergovernmental body located in France, in July 2023, more than 90% of households in the United States and Japan had an air conditioner. Cooling accounts for around 10% of global electricity use. In warmer countries, this might result in a more than 50% increase in power demand during the summer months. As a result, increased demand for cooling is likely to drive expansion in the power generating industry.

Increasing applications of electricity in the transportation industry: The growing use of energy in the transportation industry is predicted to increase demand for electricity, hence pushing the power generation market. The electrification of railways in underdeveloped and developing countries, the establishment of public transportation networks such as rapid metro transit systems, and the growing use of electric vehicles in developed countries will all create significant market opportunities for power generation companies. For instance, in order to achieve net-zero carbon emissions, the Office of Rail and Road (ORR) predicts that 13,000 track kilometers - or roughly 450 km per year - of track in the UK will need to be electrified by 2050, with 179 km electrified between 2020 and 2021. According to the Edison Electric Institute (EEl), yearly electric car sales in the United States are estimated to exceed 1.2 million by 2025. Electric vehicles are projected to account for 9% of worldwide electricity demand by 2050.

Restraint Factor for the Electricity Generation Market

High initial capital investment for renewable projects: The high initial capital for renewable projects is indeed a limiting factor for the market growth of the electricity generation sector, as most such technologies, infrastructure, and installation depend on significant up-front funding. For instance, most renewable energy technologies are highly capital intensive-solar, and wind, in particular, scares investors away from taking action, especially if they are small or developing firms. There is thus an economic limitation that restricts competition and contributes toward slower development of cleaner energy solutions. Moreover, funding can be quite tricky and challenging-especially for a poor economic climate. The payback times attached to these investment options are long, leading to uncertainty and making stakeholders reluctant to commit. These financial constraints are, therefore, blighting the transition to renewable energy as well as, more broadly, the overall electricity generation market

Trends for the Electri...

Snapshot img

Demand Response (DR) Market Size 2025-2029

The demand response (dr) market size is forecast to increase by USD 3.3 billion, at a CAGR of 8.4% between 2024 and 2029.

Major Market Trends & Insights

North America dominated the market and accounted for a 59% growth during the forecast period.
By the Product - Hardware and software segment was valued at USD 4.36 billion in 2023
By the End-user - Industrial segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 87.49 billion
Market Future Opportunities: USD USD 3.3 billion 
CAGR : 8.4%
North America: Largest market in 2023

Market Summary

The market is witnessing significant growth as businesses and utilities seek innovative solutions to address the increasing gap between electricity supply and demand. According to recent studies, the global DR market is projected to reach a value of USD38.3 billion by 2026, expanding at a steady pace. This expansion is driven by the integration of renewable energy sources and the growing adoption of smart grid technologies. DR programs enable energy consumers to adjust their electricity usage in response to changes in the grid's conditions. By reducing peak demand, these programs help prevent power outages and improve grid stability. In the industrial sector, DR has gained traction due to its potential to reduce energy costs and improve operational efficiency. For instance, a study by the Lawrence Berkeley National Laboratory found that DR programs could save the US industrial sector up to USD20 billion annually. Moreover, the advent of the Internet of Things (IoT) is expected to further fuel the growth of the DR market. IoT-enabled devices can provide real-time data on energy usage, enabling utilities to optimize energy distribution and consumers to adjust their usage accordingly. However, the increasing threat of cyberattacks on IoT devices poses a challenge to the market's growth. Despite this, the benefits of DR far outweigh the risks, making it an essential component of modern energy systems.

What will be the Size of the Demand Response (DR) Market during the forecast period?

Explore market size, adoption trends, and growth potential for demand response (dr) market Request Free SampleThe market represents a significant opportunity for businesses to optimize energy usage and reduce costs without fail. According to recent data, approximately 20% of the total electricity consumption in the US is currently managed through DR programs. Looking forward, future growth is anticipated, with expectations of a 15% compound annual increase in DR participation over the next five years. A comparison of key numerical data highlights the potential impact of DR. For instance, DR programs have led to an average of 10% reduction in peak electricity demand, providing essential network congestion relief. Furthermore, DR technology deployment has resulted in an average of 12% system efficiency gains, contributing significantly to grid reliability improvement. These figures underscore the substantial benefits of DR, including emissions reduction, cost savings, and grid service provision. By integrating advanced metering infrastructure, load control devices, and energy management systems, businesses can effectively participate in capacity market bidding and event-driven load control. Additionally, DR aggregator platforms enable real-time data acquisition and building controls optimization, offering energy arbitrage opportunities and industrial automation system enhancements. In conclusion, the DR market offers businesses a valuable opportunity to optimize energy usage, reduce costs, and contribute to grid reliability. With increasing participation rates and continuous technological advancements, the potential for growth and innovation is significant.

How is this Demand Response (DR) Industry segmented?

The demand response (dr) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ProductHardware and softwareServiceEnd-userIndustrialResidentialCommercialGovernment BuildingsHospitalsData CentersAgricultureSolution TypeResidential DRMSCommercial DRMSIndustrial DRMSDeployment TypeAutomated Demand Response (ADR)Conventional Demand ResponseApplicationPeak Load ManagementGrid BalancingRenewable Energy IntegrationGeographyNorth AmericaUSCanadaEuropeFranceGermanyUKMiddle East and AfricaUAEAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW)

By Product Insights

The hardware and software segment is estimated to witness significant growth during the forecast period.

In the market, microgrid optimization and dynamic pricing mechanisms have emerged as key trends. Predictive load forecasting an

United States EIA Forecast: Electricity Supply: Generation: Industrial Sector data was reported at 0.452 kWh/Day bn in Dec 2019. This records an increase from the previous number of 0.435 kWh/Day bn for Nov 2019. United States EIA Forecast: Electricity Supply: Generation: Industrial Sector data is updated monthly, averaging 0.431 kWh/Day bn from Mar 2016 (Median) to Dec 2019, with 46 observations. The data reached an all-time high of 0.461 kWh/Day bn in Jul 2019 and a record low of 0.377 kWh/Day bn in Apr 2016. United States EIA Forecast: Electricity Supply: Generation: Industrial Sector data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s USA – Table US.RB069: Electricity Supply and Consumption: Forecast: Energy Information Administration.

United States Renewable Energy Market Outlook 2031

The United States renewable energy market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 10.1% during the forecast period, 2023–2031. The growth of the market is attributed to government policies and initiatives to fulfil increased electricity demand using renewable energy sources have been praised.



In 2020, United States electricity generated through renewable energy sources (such as wind, hydropower, solar, biomass, and geothermal energy) a record 834 billion kilowatt-hours (kWh) accounting for around 21% of all electricity generated in the US.

In the United States in 2020, only natural gas (1,617 billion kWh) produced more power than renewables. For the first time in history, renewables outperformed nuclear (790 billion kWh) and coal (774 billion kWh). This result in 2020 was mostly owing to a major reduction in coal use in energy generation in the United States, as well as constantly increasing use of wind and solar.



In 2007, coal-fired electricity output in the United States reached a high of 2,016 billion kWh, although much of that capacity has since been replaced or converted to natural gas-fired power.



Until 2016 coal was the greatest source of electricity in the US, and by 2020 was the first year when renewables and nuclear power provided more electricity than coal (according to our data series that dates back to 1949). Because many nuclear power plants retired and other nuclear facilities suffered slightly more maintenance-related interruptions, nuclear electric generation dropped by Two percent from 2019 to 2020.



With a 42 % rise between 2010 and 2020, renewable energy is the rapidly growing energy source in the United States from 2000 to 2020, it increased by 90%.



In 2020, renewables accounted for about 20% of utility-scale energy generation in the United States, with hydropower <str

The electric power sector in the United States had the highest renewable energy consumption in 2022, at about **** quadrillion British thermal units. In 2023, the industrial sector was expected to consume **** quadrillion British thermal units of renewable energy.

Forecast: Primary Energy Consumption Per Capita in the US 2022 - 2026 Discover more data with ReportLinker!

Analysis of Peabody Energy's forecast that rising U.S. electricity demand could increase domestic coal consumption by up to 57%, driven by AI data centers and manufacturing.