The global energy-as-a-service market accounted for a value of USD 49.1 billion in 2019 and is projected to register growth at a CAGR of 7.3% during forecast period.
COVID-19 has impacted the energy-as-a-service market. The supply chain is disrupted due to travel restriction. various projects are halted and implementation of energy-as-a-service is postponed due to ongoing pandemic situations. The market is likely to recover post COVID-19.
For more details, visit: Global Energy-as-a-Service Market By Service Type (Energy Supply Services, Energy Efficiency & Optimization Services, Operational & Maintenance Services), By End-Users (Commercial, Industrial) By Region, Forecast & Opportunities to 2026
The distributed energy resources is increasing and government is providing tax benefits for various energy efficiency projects. The cost of renewable power generation is rapidly decreasing. The demand for renewable energy is increasing as the awareness about clean energy sources is increasing around the world. This drives growth in energy-as-a-service market during forecast period.
On the basis of service type, the energy-as-a-service market is segmented into energy supply services, energy efficiency & optimization services and operational & maintenance services. The energy supply services segment is estimated to hold largest market share during forecast period. The price is increasing as the customers are looking for producing resilient energy supply which ensures that it can be operated without the grid. The focus is increasing towards various sources such as fossil fuels, renewable, biomass and nuclear. It provides flexibility of choice on ownership and financing. It allows rapid and easy integration of energy storage assets and distributed generation. This drives growth in energy-as-a-service market during forecast period.
On the basis of end-users, the energy-as-a-service market is segmented into commercial and industrial. The commercial segment is estimated to dominate the market during forecast period. The commercial end-users include educational, healthcare, data centers, warehouse, hotels, airports and others. This segment consumes large amount of electricity and account for 19% of total energy consumed by US. The majority of energy consumed by this segment goes towards lighting and heating. The energy implementations are mandated in commercial segment across various regions. Energy-as-a-service provides efficient energy which improves energy consumption. This drives growth in energy-as-a-service market during forecast period.
North America region is estimate to hold largest market share during forecast period. The energy efficient projects are being implemented in countries such as Mexico, Canada and US. Organizations in this region are looking for cutting down energy generation cost. Many new approaches are being used in this region such as pay-for-performance etc which helps in improving energy efficiency at larger scale. The share of renewable power generation is increasing. This drives growth in North America region during forecast period.
The key market players in energy-as-a-service industry are WGL Energy, Engie, Schneider Electric, Siemens, Johnson Controls, general Electric, EDF Renewable Energy, Edison, Alpiq, Enel X, Bernhard Energy Solutions, Entegrity, Smartwatt, Enertika, Noresco, Veolia and Honeywell.
- What are the expected industry trends over the next three to five years?
- Which of the energy-as-a-service service type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?