+91-8668442535
Home / Energy / Energy as

Energy as a Service Market By Service Type (Energy Supply Services, Operational And Maintenance Services, Energy-Efficiency And Optimization Services), By End-user (Commercial, Industrial) - Growth, Share, Opportunities & Competitive Analysis, 2019 – 2027

Increasing government spending for power utilities along with growing energy demand will boost the market.

The global energy as a service market is expanding rapidly and is expected to grow at an 11.9% CAGR from 2019 to 2027, starting at US$ 42.35 billion in 2018.A key factor driving the growth of the global energy as a service market is a growing demand for reducing building energy costs. Electricity consumption in commercial, industrial, and residential buildings accounts for over 60% of the total energy consumed across the world. Owing to the constantly increasing demand for energy in buildings, the owners, especially in the commercial and industrial sectors, are focusing on ways to decrease the cost of electricity. This has encouraged the adoption of EaaS solutions, which decrease the consumption of energy considerably.

The rise in the consumption of renewable energy is identified as one of the key emerging trends in the global energy as a service market. The ongoing depletion of conventional fossil fuel sources, growing environmental concerns, and the rising economic burden of importing fuel commodities are driving the rise in renewable energy consumption. Countries are concentrating on the diversification of energy sources rather than relying on a single or few energy sources, along with the escalating need to ensure total energy security. This provides an opportunity for the growth of the global EaaS market. However, globally, the solar energy industry is the fastest-growing source of new capacity additions. Solar panels have become extremely efficient in energy conversion owing to the advancements in solar cell technology and silicon manufacturing.

Market Synopsis

Service Analysis

Rising revenue generation streams for utilities will drive the demand for energy as a service globally.

The energy supply services segment is expected to hold the largest market share by 2024. Consumers are looking for resilient energy supplies to ensure they can operate without the grid as prices rise. Also, with the growing focus on various energy supply sources such as renewable, fossil fuels, nuclear, biomass, and biofuels, the energy as a service model mainly supports renewable energy as it lowers energy costs, reduces carbon footprints, ensures high energy efficiency, and is environmentally friendly. It provides consumers with options for ownership, pricing, and financing. It also helps the operators customize energy generation designs based on consumer requirements, which are modern and robust. It enables easy and rapid integration of distributed generation and energy storage assets.

Regional Analysis

Dominance is led by rising power projects coupled with intensifying energy investment toward renewable energy to drive market growth.

The market in North America is estimated to be the largest in the coming years. Utilities in countries such as the US, Canada, and Mexico are implementing energy efficiency projects and looking to cut down on energy generation costs. New approaches, such as pay-for-performance, are being introduced in the US to achieve energy efficiency at a larger scale in the commercial sector. For instance, in 2018, California energy efficiency policies mandated that at least 60% of the savings achieved through obligation schemes needed to be delivered by third-party service providers. Also, an increase in the share of renewable power generation and energy efficiency activities is expected to drive the market in this region.

List of Companies Covered:

  • Engie
  • Schneider Electric
  • Siemens
  • Johnson Controls
  • General Electric
  • EDF Renewable Energy
  • Edison
  • Alpiq
  • Enel X
  • Bernhard Energy Solutions
  • Entegrity
  • Smartwatt
  • Enertika
  • Moresco
  • Veolia
  • Honeywell
  • Centrica
  • Wendel Energy Services

Key Industry Development:

  • In June 2019, MAN Energy Solutions signed a global service agreement with the Wallem Group. The contract involves the supply of generators, turbochargers, spares, and services, as well as foreign vessels that are currently managed by Wallem.
  • In August 2019, Trimark Associates Inc., a leading provider of SCADA, metering, and energy storage technology solutions bagged a contract with the Clearway Energy Group for multisite monitoring and maintenance.

Periods of History and Forecast

This study report includes an analysis of each segment from 2017 to 2027, with 2018 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2019 to 2027.

Market Segmentation

The current report also encompasses qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better understanding of the overall energy market as a service market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolios, and business strengths.

Key questions are answered in this report.

  • What are the current market trends and dynamics in the energy as a service market, and what are the valuable opportunities for emerging players?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which type of segment holds a larger market share and why?
  • Are low- and middle-income economies investing in the energy sector as a service market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and the Middle East and Africa?

Frequently Asked Questions:

The market for Energy as a Service Market is expected to reach US$ 42.35 million by 2027.

The Energy as a Service Market is expected to see significant CAGR growth over the coming years, at 11.9%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Schneider Electric, Siemens, Johnson Controls, Bernhard Energy Solutions, Wendel Energy Services are some of the major players in the global market.

Choose License Type
Trusted By
Godaddy
Published Date:  Apr 2020
Category:  Energy
Report ID:   60254
Report Format:   PDF
Pages:   120
Rating:    4.2 (56)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
+91-8668442535
24/7 Research Support