Global Energy as a Service Market Forecast: USD 70 billion in 2022, Featuring Growing Trends and Opportunities

Market Insights

As per recent research by MarkNtel Advisors, The Global Energy as a Service Market size is valued at around USD 70 billion in 2022 and is projected to grow at a CAGR of around 10.3% during the forecast period, i.e., 2024-30.

Global Energy as a Service Market Driver:

Increasing Demand for Distributed Energy Resources – The shift of the power sector from traditional ways to modern approach has led to increased use of Distributed Energy Resources (DERs), such as on-site solar panels, fuel cells, and combined heat & and power. According to the International Energy Agency, renewable energy resources are expected to account for approximately 95% of the global power capacity by 2026 to decrease the dependency on fossil fuels & reduce carbon emissions.

The growing focus of the governments to reduce carbon emissions, advancement in technologies, urge to improve consumer satisfaction, and declining costs of distributed energy resources are driving the Energy–as-a-Service Market. Thus, various energy services providing companies like Honeywell, etc., have been developing EaaS solutions to offer their customers distributed energy resource benefits & promote energy savings.

Moreover, according to the Electric Reliability Council of Texas (ERCOT), the large-scale adoption of DERs can reduce the peak load of the power grid by approximately 9 to 15% in Texas. The reduced load can result in an estimated savings of nearly USD 5 billion in Texas. Hence, the implementation of DERs throughout the US would result in an estimated savings of approximately USD 50 billion annually by 2029. Thus, the adoption of DER solutions by consumers across the global countries would considerably drive the market in the forecast period.

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Market Segmentation and Consumer Behavior:

By Type

Energy Supply Services- Market Size & Forecast 2019-2030, USD Million
Operational and Maintenance Services- Market Size & Forecast 2019-2030, USD Million
Energy Efficiency and Optimization Services- Market Size & Forecast 2019-2030, USD Million

By End Users

Residential- Market Size & Forecast 2019-2030, USD Million
Commercial- Market Size & Forecast 2019-2030, USD Million
Industrial- Market Size & Forecast 2019-2030, USD Million
Public Infrastructure- Market Size & Forecast 2019-2030, USD Million

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Energy as a Service Market Geographical Analysis:

By Region:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

Key Players and Competitive Strategies in the Energy as a Service Market

Several prominent players dominate the Energy as a Service Market, including:

Engie
Enel X
Schneider Electric
Ameresco
Siemens
General Electric
Honeywell
Johnson Controls
EDF Renewable Energy
Edison
Alpiq
Veolia
Orsted
Centrica
WGL Energy

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Questions Addressed in this Study

1.What factors are driving the Energy as a Service Market growth?

2.How is the Energy as a Service Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Energy as a Service Market?

4.What is the current size of the Energy as a Service Market, and how is it projected to change in the future?

5.What is the future outlook for the Energy as a Service Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.