The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Energy as a Service Market. The rising demand for the Energy as a Service Market is expected to drive the demand for Energy as a Service Market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global Energy as a Service market size is expected to reach USD 127.63 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to growing preference in the energy sector towards decentralized power generation. Rising need for energy production in a sustainable, cost-effective, and reliable manner is another major factor driving demand for decentralized energy and supporting revenue growth of the global energy as a service market. Empowerment of businesses, local consumers, and communities with the help of decentralized energy as the smaller power generation plants can be connected to the grid is boosting steady utilization of decentralized power distribution services.
The power industry has been experiencing a shift towards distributed energy resources in order to overcome grid reliability issues, severe weather events, equipment failures, reduction in costs of distributed energy resources, among others are other key factors driving growth of the global energy as a service market. Rising need to improve energy supply is also increasing adoption of energy as a service model, which includes common distributed energy generation solutions such as combined heat and power, microturbines, solar PV, diesel, and natural gas gensets, and fuel cells.
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Key Highlights of Report
- In December 2020, STMicroelectronics entered into a partnership with Schneider Electric on carbon neutrality and co-development of energy -efficient solutions. Schneider Electric is expected to support STMicroelectronics to reduce its global environmental footprint.
- Energy supply services segment accounted for largest revenue share in 2020. Increase in energy supply offerings, which consist of fossil fuels, renewable sources of energy, biofuels, and biomass, is boosting demand for energy supply services for more efficient energy supply.
- Commercial segment revenue is expected to expand at a rapid CAGR during the forecast period. The energy as a service model is designed to aid private sector commercial building owners with technical expertise and details related to capital to implement energy efficiency projects, which is expected to drive its demand for deployment in commercial buildings.
The latest research report entails an in-depth analysis of the current growth opportunities for various regions of the Energy as a Service Market, gauging their revenue share over the forecast timeline. Furthermore, the report analyses the year-on-year growth rate of these regions over the forecast duration. The leading market regions profiled in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
Key players in the market include WGL Energy, ENGIE, Schneider Electric, Siemens, Johnson Controls, General Electric, EDF Renewables, Edison International, Alpiq, and Enel X.
Emergen Research has segmented the global Energy as a Service market on the basis of service type, end-use, and region:
Service type Outlook (Revenue, USD Billion; 2018–2028)
- Operational and Maintenance Services
- Energy Supply Services
- Energy Efficiency and Optimization Services
End-use Outlook (Revenue, USD Billion; 2018–2028)
Key Points of Energy as a Service Market:
- Extensive coverage of the analysis of the Energy as a Service market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Energy as a Service market
- Complete data about the key manufacturers and vendors in the Energy as a Service market
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