Global Energy As A Service Market Overview
The Energy-as-a-Service Market account revenue of USD 58.3 billion in the year 2020 globally and has been foreseen to yield USD 136.36 billion by the year 2030 at a compound annual growth (CAGR) of 8.9% over the forecast period.
Energy as a service (EaaS) is the application of new products, services, financing instruments, and technology solutions to one or more parts of a customer's energy portfolio, such as strategy, programme management, energy supply, energy use, and asset management. Third-party vendors, utility services companies, and potential business model disruptors that deploy niche technical, financing, or procurement solutions such as solar PV power purchase agreements, energy services performance contracts, and deregulated electricity market retail brokerage services make up the EaaS market. Energy as a service is a subscription-based energy service in which users pay for energy without having to deposit any money up front. Third-party vendors, utility services firms, and possible business model disruptors providing specialty technological, financial, or procurement solutions make up this group. The energy supply, energy use, technology, analytics, grid access, and personalized services are all part of Energy as a Service.
Global Energy As A Service Market Drivers & Restraints
Rising Energy demand to reduce building energy costs will drive the growth of the Market
The market is being driven by rising energy demand to reduce building energy costs and carbon emissions. Several variables drive market expansion, including increased distributed energy resources, lower costs of renewable energy generation, and storage options. Energy consumption is expected to rise, which would have a favourable impact on the market. Global energy consumption is anticipated to increase by about 50% between 2018 and 2050, according to the US Energy Information Administration (EIA). The industrial sector, which includes refineries, mining, manufacturing, agriculture, and construction, consumes the most energy of any end-use sector.
Energy as a service is becoming more popular in a variety of businesses. Clear Blue Technologies International Inc., for example, developed the Energy-as-a-Service (EaaS) for wireless power in May 2019. Off-grid street lighting, telecommunications networks, and Internet of Things (IoT) devices all benefit from this new subscription-based service, which provides clean, wireless electricity. Municipalities, telecom companies, and other organisations with off-grid powered systems were previously compelled to own, run, and maintain these power systems. Clear Blue's Energy-as-a-Service meets this requirement.
Global Energy As A Service Market Segmentations & Regional Insights
The Global Energy-as-a-Service Market is segmented based on Service Type, End-User and region.
On the basis of Service Type, the Global Energy-as-a-Service Market is segmented into Energy Supply Services, Operational and Maintenance Services, and Energy Efficiency and Optimization Services. Based on End-User, the target market is segmented into Commercial and Industrial.
Regional Insights:
On region the Global Energy-as-a-Service Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The energy as a service market in North America is expected to grow at a rapid pace. In the United States of America Rising government requirements and initiatives, as well as an increase in the number of smart cities, smart communities, and electric vehicles, are boosting the grid management and power efficiency market, which will open up chances for the energy as a service industry. This market trend is projected to continue due to rising energy demand in industrial and commercial applications, which is expected to drive the market for energy as a service. Because the energy efficiency services industry in the United States has risen dramatically in the last decade, the United States is likely to occupy the greatest share of the energy as a service market in North America. During the projected period, Asia Pacific is expected to be the dominant market for EaaS in terms of consumption. Power and oil demand are both on the rise which will also drive the market in the particular region.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Service type- Energy Supply Services, Operational and Maintenance Services, and Energy Efficiency and Optimization Services By End-User– Commercial and Industrial |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Energy-as-a-Service Market report based on Service Type, End-User and region.
Global Energy-as-a-Service Market, By Region:
- North America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- U.S.
- Canada
- Middle East & Africa
Global Energy As A Service Market Competitive Landscape & Key Players
The key players profiled in Energy-as-a-Service report include WGL Energy, Engie, Schneider Electric, Siemens, Johnson Controls, General Electric, EDF Renewable Energy, and Edison. Key players are introducing new technologies, acquisitions and merger to expand their business in the particular market. For instance, Nelnet Renewable Energy, a new business line that provides community solar developers with complete and scalable subscriber acquisition, administration, and support services, was launched in June 2020. The company would assist solar developers in finding subscribers for their community solar projects, which would include homeowners, renters, and businesses interested in solar energy that is both accessible and inexpensive.
Global Energy As A Service Market Company Profile
- WGL Energy
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Engie
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Schneider Electric
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Siemens
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Johnson Controls
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- General Electric
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- EDF Renewable Energy
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Edison
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
FAQs
Global Energy-as-a-Service Market is segmented based on Service type, End-user and region.
Rising Energy demand to reduce building energy costs is major factor driving the market.
During the forecast period, North America is expected to dominate the market.
The key players profiled in Energy-as-a-Service report include WGL Energy, Engie, Schneider Electric, Siemens, Johnson Controls, General Electric, EDF Renewable Energy, and Edison.