Overview and Scope
The energy as a service market consists of sales of energy as a service solutions and services by entities (organizations, sole traders, and partnerships) that are used for the management of energy usage to deliver the desired energy service. Energy-as-a-service (EaaS) is a business concept in which clients pay for energy services without having to spend any money upfront. EaaS models often take the form of a subscription for a service company’s electrical devices or energy usage management to supply the desired energy service.
Sizing and Forecast
The energy as a service market size has grown rapidly in recent years. It will grow from $64.93 billion in 2023 to $73.17 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to renewable energy adoption, energy efficiency initiatives, regulatory support, smart building and IoT integration, cost reduction and budget optimization, demand for sustainability.
The energy as a service market size is expected to see rapid growth in the next few years. It will grow to $116.26 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to increasing complexity in energy management, rise of decentralized energy systems, energy resilience and security, global expansion of east models, data analytics and AI integration. Major trends in the forecast period include integration with blockchain technology, technological advancements, decentralized energy systems, data analytics and predictive maintenance, demand response integration.
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Segmentation & Regional Insights
The energy as a service market covered in this report is segmented –
1) By Component: Solutions, Services
2) By End-User: Commercial, Industrial
North America was the largest region in the energy as a service market in 2023. Middle East and Africa are expected to be the fastest-growing regions in the energy as a service market during the forecast period. The regions covered in the energy as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in renewable energy generation is expected to propel the growth of the energy as a service market going forward. Renewable energy is energy generated from naturally renewing but flow-limited sources that are essentially infinite in length but limited in energy accessible per unit of time. The usage of renewable energy is increasing, and this will increase the energy as a service market. For instance, in September 2022, according to reports published by the Energy Information Administration., a US-based government agency, in the first half of 2022, 24% of US electricity generation came from renewable sources, up from 21% for the same period last year. Therefore, the rising demand for an increase in renewable energy generation drives the energy as a service market.
Key Industry Players
Major companies operating in the energy-as-a-service market report are Schneider Electric SE, Veolia Environment S.A., Engie SA, Enel S.p.A, Siemens AG, Honeywell International Inc., EDF, Bernhard Energy Solutions, AltaGas Ltd., Johnson Controls International PLC, China Shenhua Energy Company, Envision Energy, Mingyang, Gamesa, Shanghai Electric, CSSC, Suzlon Energy Limited, Adani Green Energy Limited, G3 Holdings and NTPC Limited, Centrica, E. ON UK., Npower, ScottishPower, Gazprom, Rosneft, Surgutneftegas, Novatek, CEZ, Contemporary Energy Solutions, Duke Energy, Edison International, General Electric Company, NextEra Energy, Green Mountain Energy, TPI Composites, Renewable Energy Group, Inc., Clearway Energy, First Solar Inc., PlanEt, Tesla, IOGEN Corporation, Bio-EnPower Inc., Ag-west Bio, Nulife Green Tech, Innergex/Alterra Power, Bullfrog Power, 3G Energy, KEPCO Energy Service Company, CFE, Pemex, Shell, Baker hughes, Tenaries, Moka Power, SOLARVIEW, FLEXIMETAL BRASIL, RVT Energia, Wiseful, GreenStudio Energy Efficiency, DS-Engenharia-Solar, Oika Tecnologia & Inovação, Yellow Door Energy, Enova, Alfanar Energy, Solar Africa, Rensource Distributed Energy Ltd., powergen renewable energy, Powerhive, Daystar Power, Juabar
The energy as a service market report table of contents includes:
1. Executive Summary
2. Energy-as-a-Service Market Characteristics
3. Energy-as-a-Service Market Trends And Strategies
4. Energy-as-a-Service Market – Macro Economic Scenario
5. Global Energy-as-a-Service Market Size and Growth
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31. Energy-as-a-Service Market Other Major And Innovative Companies
32. Global Energy-as-a-Service Market Competitive Benchmarking
33. Global Energy-as-a-Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Energy-as-a-Service Market
35. Energy-as-a-Service Market Future Outlook and Potential Analysis
36.Appendix
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