Australian Power Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Australian Power Market Size & Share and It is Segmented by Power Generation Source (Coal, Natural Gas, Oil, Renewables, and Other Power Generation Sources), and Power Transmission and Distribution. The Report Offers Market Size and Forecasts in Installed Capacity for all the Above Segments.

Australian Power Market Size

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Australia Power Market- Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Volume (2024) 63.97 gigawatt
Market Volume (2029) 84.19 gigawatt
CAGR (2024 - 2029) 5.65 %
Market Concentration Medium

Major Players

Australia Power Market

*Disclaimer: Major Players sorted in no particular order


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Australian Power Market Analysis

The Australia Power Market size in terms of installed base is expected to grow from 63.97 gigawatt in 2024 to 84.19 gigawatt by 2029, at a CAGR of 5.65% during the forecast period (2024-2029).

  • Over the medium term, the Australian power market is likely to grow in the coming years due to the increasing electricity demand from the manufacturing and mining industries and the availability of a broad range of fuel sources for electricity generation.
  • On the other hand, the phasing out of coal-based power plants is expected to hinder the growth of the Australian power market.
  • Nevertheless, the increasing penetration of wind, solar, small hydro, and other renewables-based power generation, rising electric vehicle and heat pump demand, and increasing export requirements via interconnectors have resulted in increased requirements for the installation of Transmission and Distribution (T&D) lines, creating several opportunities for the major companies.

Australian Power Market Trends

Renewables Expected to Witness Significant Growth

  • Australia's grid electricity prices have increased recently, boosting the demand for renewable sources of power generation. The government's push to promote renewable technology has spurred the renewable energy market, leading to a high adoption rate of renewables in the residential and commercial sectors.
  • As of 2022, the renewables segment ranked second in the power generation mix, with around 73.7 TWh of the electricity production. The major contributor to the accelerated growth of renewables is solar power technology, which is currently heavily deployed in Australian homes and businesses for self-energy production.
  • Most of the growth is due to the low cost of solar modules and the fact that they can be used to lower energy bills.
  • The Australian government is primarily focused on developing the renewable energy market. In November 2021, the Australian Department of Industry, Science, Energy, & Resources passed the legislation for the "Offshore Electricity Infrastructure Bill 2021", which targets the development of the offshore wind energy industry in Australian waters. Through the legislation, the department plans to designate areas for key wind power and tidal power projects and design a licensing framework.
  • Furthermore, in July 2023, the federal government of Australia has declared an offshore wind development zone, with the potential to generate 5 GW capacity, in the Pacific Ocean off the Hunter region in New South Wales (NSW), Australia and the 5 GW capacity will be sufficient to power 4.2 million homes in the country.
  • Such developments are expected to augment the Australian renewable-based power generation market.
Australia Power Market- Electricity Generation Mix

Growth in Construction Industry Expected to Drive the Market

  • The construction industry witnessed huge growth in the country in the last 10 years, owing to the development of the industrial and service sectors, including the construction of commercial complexes, manufacturing facilities, and trade hubs.
  • The Australian construction industry comes under the top five industries, with maximum electricity consumption out the 273.6 TWh electricty generation by the country in 2022. Several projects are still on the way to creating new power demand in the coming years.
  • For instance, one of the biggest construction projects currently ongoing in the country is the Elizabeth Quay Lot V and Lot VI Mixed-Use Complex at Elizabeth Quay in Perth, Western Australia. In 2022, the project commenced the construction of two mixed-use towers on a 7,000 m2 area. The first tower comprises 58 stories, and the second is a 21-story commercial tower. The project is expected to be completed by 2025.
  • In 2022, the total electricity generation in Australia was estimated to be 273.6 TWh in calendar year 2022, a 2.3% increase from 2021.
  • The construction of the Brisbane Metro-Rail project started in Q3 2021. The project includes the construction of a 21-km high-frequency metro rail line in Brisbane, Queensland, Australia. It is expected to be operational by the end of 2023.
  • Thus, such developments are expected to boost the construction industry, which may, in turn, create great avenues for the country’s power market.
Australia Power Market- Electricity Consumption by Industry

Australian Power Industry Overview

The Australian power market is semi-fragmented. Some of the major players include (in no particular order) Energy Australia, AGL Energy Ltd, Origin Energy Ltd., Iberdrola SA, and Goldwind Australia.

Australian Power Market Leaders

  1. Energy Australia

  2. Iberdrola SA

  3. Goldwind Australia

  4. AGL Energy Ltd

  5. Origin Energy Ltd

*Disclaimer: Major Players sorted in no particular order

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Australian Power Market News

  • April 2023: Australia announced plans to shut down most aged coal-fired power plants. The Liddell power station, a three-hour drive north of Sydney, was one in a series of aging coal-fired plants slated to close in the coming years. The Liddell power plant is set to be substituted by clean energy projects, including a hydrogen power plant.
  • August 2022: Neoen Australia announced that its 400 MW solar farm, which forms part of its USD 414.6 million Western Downs Green Power Hub, began exporting electricity to the grid.
  • June 2022: Construction started on the 1,026-megawatt (MW) MacIntyre Wind Precinct, the largest wind farm to ever be built in Australia. Acciona Energía and CleanCo Queensland are co-owners of the USD 1.45 billion project in Queensland, southwest of Warwick. Queensland-based Ark Energy is a co-investor.

Australian Power Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Installed Capacity and Forecast, till 2028

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

        1. Increasing Electricity Demand from Manufacturing, Construction, and Mining Industries

        2. The Availability of a Broad Range of Fuel Sources for Electricity Generation

      2. 4.5.2 Restraints

        1. Phasing Out of Coal-based Power Plants

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTLE Analysis


    1. 5.1 Power Generation Source

      1. 5.1.1 Coal

      2. 5.1.2 Natural Gas

      3. 5.1.3 Oil

      4. 5.1.4 Renewables

      5. 5.1.5 Other Power Generation Sources

    2. 5.2 Power Transmission and Distribution


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Energy Australia

      2. 6.3.2 AGL Energy Ltd.

      3. 6.3.3 Origin Energy Ltd.

      4. 6.3.4 Iberdrola SA

      5. 6.3.5 Goldwind Australia

      6. 6.3.6 Momentum Energy Pty Ltd.

      7. 6.3.7 Alinta Energy Pty Ltd.

      8. 6.3.8 Next Business Energy

      9. 6.3.9 Smartest Energy Australia Pty Ltd.

      10. 6.3.10 Simply Energy Inc.

    4. *List Not Exhaustive

    1. 7.1 Increasing Penetration of Renewable Energy

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Australian Power Industry Segmentation

Generally, electricity generation is the process of generating electric power from primary energy sources. For utilities in the electricity industry, electricity generation is the process of delivering (transmission, distribution, etc.) electricity to end users or storing it.

The Australian power market is segmented by power generation sources, and power transmission & distribution. By power generation, the market is segmented into conventional thermal, hydro, nuclear, and non-hydro renewable. The market size and forecasts for each segment have been based on installed capacity, except power transmission and distribution.

Power Generation Source
Natural Gas
Other Power Generation Sources
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Australian Power Market Research FAQs

The Australia Power Market size is expected to reach 63.97 gigawatt in 2024 and grow at a CAGR of 5.65% to reach 84.19 gigawatt by 2029.

In 2024, the Australia Power Market size is expected to reach 63.97 gigawatt.

Energy Australia, Iberdrola SA, Goldwind Australia, AGL Energy Ltd and Origin Energy Ltd are the major companies operating in the Australia Power Market.

The factors contribute to the growth of the Australia Power Market are a) Oil and natural gas contribute to growth due to their dependable energy source and adaptability to fluctuating demand b) Renewables are driving growth due to environmental advantages, sustainability, and improved grid resilience

Australian Power Industry Report

The Australia power market is experiencing steady growth, driven by a diverse mix of energy sources and significant investments in renewable energy. The market is segmented by type, including oil and natural gas, renewables, coal, hydroelectricity, and others, as well as by region, covering areas such as New South Wales, Victoria, Queensland, and others. The primary energy sources include coal, oil, and natural gas, with renewables like solar, wind, and hydro gaining a substantial share in electricity generation. The australian energy market market's expansion is supported by the dependability and adaptability of oil and natural gas, alongside the environmental and economic benefits of renewable energy. The industrial, commercial, residential, and transport sectors are key consumers of power, with the industrial sector leading in consumption. The transition from coal-based power to renewable energy is a significant trend. An australian energy market overview reveals that australian electric companies are actively participating in this transition, further driving the market's evolution. Statistics for the Australia Power market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports, include a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Australian Power Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)