Energy as a Service Market: Current Analysis and Forecast (2021-2027)

Energy as a Service Market: Current Analysis and Forecast (2021-2027)

Global Energy as a Service market was stood around US$55 bn in 2020 and is likely to showcase a robust growth of around ~10% during the forecast period (2021-2027). Factors surging the demand for EaaS is growing installation of distributed electricity generation and storage technologies, along with the widespread availability of “smart” devices has provided the basis for the development of new energy-related services. In addition, increase in digitalization and rising installation of smart meters in residential, industrial, and commercial sector has helped in converting energy related data into value for the power system which in turn has surged the market opportunities for Energy as a Service across the globe.

The outbreak of COVID-19 had adverse impact on the Energy as a Service market. Severe health crisis across the world and several casualties that led to lockdown across the globe. Hence, disrupted the installation of smart meter in developing regions coupled with the health emergency across the globe has impacted the nations financially as well that reduces the funds from investing in upgradation of smart grids. Hence, decrease the adoption of Energy as a Service in various end-user industries.

Schneider Electric, Engie, Siemens, Honeywell, Veolia, Enel, EDF Renewable Energy, WGL Energy, Johnson Control, General Electric. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Service Type, energy supply services segment holds the major share”

Based on service type, the energy as a service market is segmented into energy supply services, operational and maintenance services, and energy efficiency and optimization services. The energy supply services captured significant share in the market owing to the increasing electricity prices, the consumers are looking to procure resilient energy supply to ensure that they can operate without the grid. As energy as a service model mainly supports renewable energy and gives the consumers the flexibility of choice on ownership, pricing, and financing.

“Amongst End-User, Commercial segment holds the major share”

Based on end-user, the energy as a service market is classified into industrial, commercial, and residential. The commercial segment is expected to hold the considerable market share and likely to showcase robust growth during the forecast period with energy service implementations being mandated across global regions in the commercial sector. This is mainly because of significant structural impacts, namely, economic growth. Furthermore, commercial consumers will have access to their energy efficiency through energy as a service that will, in turn, help them improve their energy consumption on multiple uses.

“North America represents one of the largest markets of Global Energy as a Service Market”

For a better understanding of the market dynamics of the global energy as a service market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe, and Rest of the World. North America holds the significant market shares due to the surging demand for services such as providing demand-energy response solution mainly owing to the growing commercial sector and implementation of energy efficiency projects.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.