Energy as a Service Market Size, Share, Global Market Research and Industry Forecast Report, 2027 (Includes Business Impact of COVID-19)

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Energy as a Service market.

Trusted Business Insights presents an updated and Latest Study on Energy as a Service Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Energy as a Service market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Energy as a Service Market Size, Share, Global Market Research and Industry Forecast Report, 2027 (Includes Business Impact of COVID-19)

Industry Insights, Market Size, CAGR, High-Level Analysis: Energy as a Service Market

The global energy as a service market size was worth USD 58.04 billion in 2019 and is anticipated to expand at a CAGR of 14.6% over the forecast period. Increase in Distributed Energy Resources (DER), tax benefits for energy efficiency projects, new revenue generation streams for utilities, and decrease in cost of renewable power generation and storage solutions are some of the factors driving the growth. The market is driven by rising potential of renewable energy, price volatility, and rising energy consumption are other significant factors driving the growth. Organizations have gradually been looking for a sustainable energy sources, which in turn is anticipated to positively influence the growth.
The Energy as a Service (EaaS) concept is still at its nascent stage, especially in developing economies. The market for EaaS is segmented on the basis of service type and end user. The services include management of usage, supply, and assessment. Most energy providers are opting for partnerships and business collaborations in order to attract more consumers. Developed countries, such as U.S. and Canada have laid down policies and regulatory standards to promote the adoption of EaaS.

Increasing focus on renewable as well as non-renewable energy sources that mainly support renewable energy due to lowers costs, reduced carbon footprint, environment-friendly, and energy efficient is projected to contribute to the market growth. Increasing government investments in sponsoring renewable sources is anticipated to drive the growth of the market over the forecast period.
Energy as a service also provides the customers with a flexibility of choice regarding pricing and ownership. It also helps the operators customize energy generation projects based on different power requirements of the customers in terms of both robust and modern. The service also enables easy and rapid assimilation of an energy storage assets with a distributed generation system.

End-user Insights of Energy as a Service Market

On the basis of end user, the energy as a service market is segmented into commercial and industrial users. The commercial segment is projected to register the fastest growth during the forecast period. The segment includes establishments, such as educational institutions, healthcare institutes, information centers, airports, and others. In the commercial sector, the buildings are solely responsible for more than 30% of overall consumption. As per the American Council for Energy-Efficient Economy (ACEEE), these institutions/establishments account for over 18% of the energy used by various sectors in the United States. Furthermore, half of the energy used by the commercial sector goes toward lighting and heating.
The growth in the segment can be attributed to various factors including an increase in occupancy, floor area, and admittance to services coupled with a surge in activities, including changes in climate and population. Different types of commercial building have exceptional energy needs and the EaaS market helps the commercial owners technical expertise and limited capital to instrument efficiency programs. Among several types of commercial building, service and mercantile buildings consume most of the energy and are thus anticipated to contribute to the market growth.
The industrial segment is anticipated to hold the largest market share during the forecast period with energy service operations being mandated in the commercial segment. This is mainly because of significant structural impacts such as economic growth.

Service Insights of Energy as a Service Market

On the basis of service, the market for energy as a service is trifurcated into supply, demand, and optimization services. The demand service segment held the leading market share in 2019 and is anticipated to continue leading the market during the forecast period. With the growing prices, the consumers are looking for to procure robust energy supply in the absence of grid. This factor is anticipated to fuel the growth of the segment in near future.

The energy optimization services segment, on the other hand, is anticipated to register the fastest CAGR over the forecast tperiod. Rising government efforts to encourage renewable energy coupled with the need for cost containment and energy conservation is anticipated to bode well for the growth of the segment in the forthcoming years.

Regional Insights of Energy as a Service Market

North America is projected to emerge as the largest regional segment owing to the presence of intelligent building and building automation vendors. Key players are inclined toward reducing costs for delivering services and enhancing the customer experience.
Asia Pacific is expected to lead the market due to the rise in large enterprises. For instances, in 2019, India had more than 300 proposed smart cities projects worth $2 billion. Although energy as a service is still in nascent stage in the region, exhaustion of fossil fuels for electricity generation is anticipated to create growth opportunities for the market in the forhtoming years. Moreover, adoption of green building model and rising government support are some of the factors projected to fuel the regional growth.
The Europe market is likely to witness significant growth over the forecast period, owing to the existence of huge number of key service providers. Presence of small and large enterprises primarily located in the countries such as Belgium, Cyprus, and Greece is anticipated to create growth opportunities in the region.

Market Share Insights of Energy as a Service Market

The market looks promising as the large and small enterprises are looking for easy accessibility of energy sources from trading facilities. Hence, the governing bodies need to take major steps to strengthen the infrastructure for safeguarding quality and safety. The key players are also undertaking contracts for DER and energy efficiency solutions and audits and are thus contributing to the overall growth. However, deployment and integration challenges coupled with the governance of the centralized utility models may hamper the growth.
Nevertheless, introduction of pay as you go and free for service models is expected to bode well for the key players. The companies are focusing on successful deployment and distribution of energy to commercial and residential sectors. The ability to determine overhead intake helps them manage the energy portfolio to encounter their goals. Shift toward decentralized supplies is anticipated to help new players to enter the market. The providers are focusing on widening their geographical reach. Rising adoption of smart cities, energy storage systems, and electric vehicles is expected to positively influence their growth.
The key players include Schneider Electric; Engie; Siemens; Honeywell International Inc.; Veolia; Enel X S.r.l.; and EDF. Schneider Electric is a major player in automation and energy management. The company is inclined toward providing microgrids as services to commercial and governmental institutions. It has signed several agreements to enhance the EaaS business model driving the adoption of microgrids. Engie is another prominent player and is engaged in undertaking several novel and innovative initiatives to cater to the rising demand for sustainable and customized solutions.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Energy as a Service Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this report, this market research report has segmented the global energy as a service market report on the basis service, end user, and region:

Service Outlook (Revenue, USD Billion, 2019 – 2030)

Supply

Demand

Energy Optimization

End-user Outlook (Revenue, USD Billion, 2019 – 2030)

Industrial

Commercial

 

Looking for more? Check out our repository for all available reports on Energy as a Service in related sectors.

Quick Read Table of Contents of this Report @ Energy as a Service Market Size, Share, Global Market Research and Industry Forecast Report, 2027 (Includes Business Impact of COVID-19)

Contacts

Trusted Business Insights
Shelly Arnold
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580