August 17th, 2022
Energy as a Service Market
The Energy as a Service Market is expected to grow at a faster CAGR over the forecast period (2020-2027).
The factors driving the growth of Energy as a Service Market includes, growing energy consumption across the globe, rising demand for smart metering and increasing digitalization. According to the report published by Bloomberg, the Global Smart Meter Market is anticipated to reach around USD 54.34 billion by the end of 2030, growing at a CAGR of 10.1% during the forecast period (2021-2030), which is expected to boost the Energy as a Service Market size in the approaching years. Moreover, the increasing investments on infrastructure projects by the leading players, growing adoption of renewable sources of energy and rapid industrialization, are some of the additional factors augmenting the market growth. As per Tax Management India, the Government of India has allocated INR 7,50,426 crores for the development of infrastructure projects, accounts to 2.9% of India’s GDP, which will boost the energy consumption in India in the upcoming years. In addition, the increasing installation of smart grids in the residential areas, rising disposable incomes and favorable Government policies for setting up solar energy power plants, are further propelling the growth of Energy as a Service Market.
However, the growth of Energy as a Service Market is restricted because huge investments are required to transform the existing Grid infrastructure.
The major players operating in the market are EDF Renewable Energy, Edison Energy, Enel X S.r., WGL Energy, Engie, Schneider Electric SE, Bernhard, LLC, Johnson Controls International plc, General Electric and Siemens AG among others.
Service: Segment Analysis
Based on service, the energy supply services segment is projected to grow at a significant CAGR during the forecast period attributed to growing energy prices, increasing consumption of renewable energy sources and fossil fuels.
End-User: Segment Analysis
Based on end-user, the commercial segment is expected to grow at a faster CAGR over the forecast period due to rise in the number of healthcare facilities, educational institutions, airports, and leisure centers around the world.
Regional: Segment Analysis
Based on region, the North American region is predicted to capture the largest market share during the forecast period. The increasing number of energy efficiency projects, Government emphasis on efficient utilization renewable sources of energy due to climate changes, high energy consumptions and strong disposable incomes, are some of the important factors supplementing the market growth in the North American region.
Global Energy as a Service Market by Service Type
Energy Supply Services
Operational and Maintenance Services
Energy Efficiency and Optimization Services
Global Energy as a Service Market by End-User
Global Energy as a Service Market by Region
Rest of APAC
North AmericaUnited States of America
Rest of Europe
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