The Europe Energy Storage As A Service Market would witness market growth of 10.2% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Energy Storage As A Service Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $199 million by 2031. The UK market is exhibiting a CAGR of 9.3% during (2024 - 2031). Additionally, The France market would experience a CAGR of 11% during (2024 - 2031).
ESaaS finds applications across multiple sectors, including commercial and industrial enterprises, utilities, residential consumers, and microgrids. Each sector utilizes energy storage differently to improve energy efficiency, enhance grid stability, and optimize electricity costs. Businesses with high energy consumption benefit significantly from ESaaS solutions. By leveraging stored energy during peak demand hours, businesses can reduce electricity costs associated with demand charges. Industrial facilities and data centers utilize ESaaS to provide uninterrupted power during outages. Many commercial buildings pair energy storage with solar PV systems to enhance energy independence and sustainability.
Utility companies increasingly use energy storage to enhance grid reliability and balance electricity supply and demand. ESaaS helps manage grid frequency and voltage fluctuations, improving overall stability. Stored energy can be deployed during peak demand periods, reducing grid stress. Utilities use ESaaS for frequency regulation, voltage support, and spinning reserves.
The steady increase in European households, reaching 26.1 million in 2020 (+5.7%), along with the rise in mean equivalized net income to EUR 19,528 in 2019 (+7.2% over the 2010-2019 period), is fueling demand for cost-effective energy solutions. With more households consuming electricity for heating, cooling, and EV charging, the need for efficient energy storage solutions is growing. ESaaS enables homeowners to store excess energy during off-peak hours and use it when demand spikes, reducing electricity costs. In conclusion, the EU’s massive investment in energy-efficient housing, social housing projects, and rising household numbers is accelerating the demand for ESaaS.
Based on End Use, the market is segmented into Industrial, Residential & Commercial and Utility. Based on Service, the market is segmented into Customer Energy Management Services, Ancillary Services, Bulk Energy Services, Transmission Infrastructure Services, Distribution Infrastructure Services, and Other Service. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
- Siemens Energy AG
- Veolia Environnement S.A.
- Honeywell International Inc.
- Tesla, Inc.
- NextEra Energy, Inc.
- Generac Holdings, Inc.
- Engie SA
- Customized Energy Solutions Ltd.
- SREIL Energy
- Hydrostor Inc.
By End Use
- Industrial, Residential & Commercial
- Utility
- Customer Energy Management Services
- Ancillary Services
- Bulk Energy Services
- Transmission Infrastructure Services
- Distribution Infrastructure Services
- Other Service
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Europe Energy Storage As A Service Market, by End Use
- 1.4.2 Europe Energy Storage As A Service Market, by Service
- 1.4.3 Europe Energy Storage As A Service Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis – Global
- 4.1 Market Share Analysis, 2023
- 4.2 Strategies Deployed in Energy Storage As A Service Market.
- 4.3 Porter Five Forces Analysis
- Chapter 5. Europe Energy Storage As A Service Market by End Use
- 5.1 Europe Industrial, Residential & Commercial Market by Country
- 5.2 Europe Utility Market by Country
- Chapter 6. Europe Energy Storage As A Service Market by Service
- 6.1 Europe Customer Energy Management Services Market by Country
- 6.2 Europe Ancillary Services Market by Country
- 6.3 Europe Bulk Energy Services Market by Country
- 6.4 Europe Transmission Infrastructure Services Market by Country
- 6.5 Europe Distribution Infrastructure Services Market by Country
- 6.6 Europe Other Service Market by Country
- Chapter 7. Europe Energy Storage As A Service Market by Country
- 7.1 Germany Energy Storage As A Service Market
- 7.1.1 Germany Energy Storage As A Service Market by End Use
- 7.1.2 Germany Energy Storage As A Service Market by Service
- 7.2 UK Energy Storage As A Service Market
- 7.2.1 UK Energy Storage As A Service Market by End Use
- 7.2.2 UK Energy Storage As A Service Market by Service
- 7.3 France Energy Storage As A Service Market
- 7.3.1 France Energy Storage As A Service Market by End Use
- 7.3.2 France Energy Storage As A Service Market by Service
- 7.4 Russia Energy Storage As A Service Market
- 7.4.1 Russia Energy Storage As A Service Market by End Use
- 7.4.2 Russia Energy Storage As A Service Market by Service
- 7.5 Spain Energy Storage As A Service Market
- 7.5.1 Spain Energy Storage As A Service Market by End Use
- 7.5.2 Spain Energy Storage As A Service Market by Service
- 7.6 Italy Energy Storage As A Service Market
- 7.6.1 Italy Energy Storage As A Service Market by End Use
- 7.6.2 Italy Energy Storage As A Service Market by Service
- 7.7 Rest of Europe Energy Storage As A Service Market
- 7.7.1 Rest of Europe Energy Storage As A Service Market by End Use
- 7.7.2 Rest of Europe Energy Storage As A Service Market by Service
- Chapter 8. Company Profiles
- 8.1 Siemens Energy AG
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expenses
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Partnerships, Collaborations, and Agreements:
- 8.1.6 SWOT Analysis
- 8.2 Veolia Environnement S.A.
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research & Development Expenses
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Acquisition and Mergers:
- 8.2.6 SWOT Analysis
- 8.3 Honeywell International, Inc.
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expenses
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Partnerships, Collaborations, and Agreements:
- 8.3.5.2 Product Launches and Product Expansions:
- 8.3.6 SWOT Analysis
- 8.4 Tesla, Inc.
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expense
- 8.4.5 SWOT Analysis
- 8.5 NextEra Energy, Inc.
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental Analysis
- 8.5.4 Recent strategies and developments:
- 8.5.4.1 Partnerships, Collaborations, and Agreements:
- 8.6 Generac Holdings, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental Analysis
- 8.6.4 Research & Development Expenses
- 8.6.5 Recent strategies and developments:
- 8.6.5.1 Acquisition and Mergers:
- 8.6.6 SWOT Analysis
- 8.7 Engie SA
- 8.7.1 Company Overview
- 8.8 Customized Energy Solutions Ltd.
- 8.8.1 Company Overview
- 8.9 SREIL Energy
- 8.9.1 Company Overview
- 8.10. Hydrostor Inc.
- 8.10.1 Company Overview
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