Utility Vegetation Management (UVM), an essential non-discretionary service within the utility services sector, is now receiving around $8 billion in annual funding—a total that keeps growing each year.i
This rising spend on UVM is tied directly to the expanding transmission and distribution (T&D) infrastructure, which relies heavily on UVM services to protect its assets and stay in compliance with evolving regulations. From 2007 to 2020, T&D investments shot up from approximately $39 billion to $90 billion, an estimated 130% jump at a CAGR of ~7%.ii
This trend signals long-term, dependable demand for UVM services. Additionally, due to its substantial downside protection and reliable recurring revenue, the UVM market will likely maintain its growth trajectory through economic cycles.
In this new report, senior professionals from the Harris Williams Energy, Power & Infrastructure Group share key factors at play within the UVM space, including:
- Why UVM is often the largest line item in utilities' annual operating budgets
- How increasing spend in the sector is generating further UVM growth
- The most important drivers of continued demand for UVM
- Which qualities to look for in UVM service providers
To learn more about high-value UVM opportunities, please contact our senior professionals.
i North American Electric Distribution Market Forecast, C3 Group (2021)
ii FERC and Oxford Economics Data