Energy as a service market size to reach USD 112.7 billion by 2030 at a CAGR of 7.6%


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BANGALORE from India, January 5, 2022 / PRNewswire / – The Energy market as a service is segmented by type (Energy supply services, Maintenance and operation, Energy efficiency and optimization and others), Application (Industrial and Commercial). The report covers global opportunity analysis, industry trends and forecast from 2021 to 2030.

The size of the global energy as a service market has been estimated to be $ 54.4 billion by 2020 and is expected to reach $ 112.7 billion by 2030, with a compound annual growth rate (CAGR) of 7.6% from 2021 to 2030.

The major factors driving the growth of the energy as a service market are:

EaaS enables more companies to benefit from the energy transition while reducing the potential entry cost, allowing them to progress towards their energy and sustainable development goals. These features are expected to drive the growth of the EaaS market.

Commercial applications such as restaurants, educational institutions, data centers, commercial buildings and warehouses have increased their demand for electricity. In addition, there is an increasing demand for optimizing energy consumption in order to reduce energy costs and support long-term environmental growth. These factors are expected to further fuel the growth of the energy as a service market.

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Trends influencing the growth of the energy as a service market:

The expansion of the EaaS market is driven by an increase in the efforts of building owners to minimize energy costs, an increase in renewable energy production, an increase in the adoption of renewable energies and an increase in smart grid installations. . EaaS is profoundly changing the way companies approach the management and purchasing of energy. EaaS solutions often use a mix of energy aspects, ranging from metering systems and micro-grids to distributed energy resources (DER) and waste heat recovery. The progression of energy from rigid and centralized to flexible and responsive is reflected in each of these potential components. Unlike centralized energy management and energy distribution technologies, these solutions are adaptive, variable and modular.

In addition, solution provider EaaS provides energy management services aligned with performance goals, reducing risk to end users. These services are tailored to the needs of each client in order to achieve predetermined goals such as system resilience and meeting sustainability goals and frequently result in lower performance risk and lower investment costs. This in turn is expected to drive the growth of the EaaS market.

In addition, the use of innovative capital arrangements such as Advanced Power Purchase Agreements (PPAs), leases and performance contracts to save CAPEX investments is a direct benefit of EaaS. As a result, the Energy Services Agreement preserves cash flow while generating new sources of revenue.

A stable and supportive policy framework is needed to achieve rapid scale-up and efficiency improvements while maintaining grid stability and the potential for energy savings. Accordingly, during the forecast period, government policies favorable to energy efficiency initiatives are expected to fuel the growth of the energy as a service market.

Utilities have been forced to invest and upgrade Distributed Energy Resources (DER) policies due to aging power generation and transfer infrastructure. To control and reduce energy use and better manage expenditure, distributed energy resources include renewables, demand response capabilities, and other energy saving technologies. The increased investment in power distribution infrastructure will increase the demand for DER, thereby boosting the growth of the EaaS market.

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Energy as a Service Market Share Analysis:

On the basis of services, the energy supply services segment recorded the highest market share of around 37.4% in 2020. This is due to an increase in demand for energy supply services from various end-use industries, such as manufacturing and processing. In addition, the rapid increase in distributed power generation sources such as solar, wind, fuel cells, heat and electricity is expected to increase the demand for energy supply services, fueling the growth of energy as a service industry in the years to come.

On the basis of end user, the commercial category holds the largest market share and is expected to do so during the forecast period. The sharp increase in energy demand from commercial applications such as restaurants, educational institutions, data centers, shopping complexes and warehouses is attributable to this increase.

Depending on the region, Asia Pacific dominated the market, and this dominance is expected to continue over the forecast period. This is due to the presence of major players and a large consumer base in the territory. In addition, increased investment in smart energy infrastructure, renewable energy and increasing industrialization in the region are expected to drive the growth of the region’s energy as a service market over the projection period.

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Major players in the energy as a service market

  • Veolia
  • Honeywell International Inc
  • Schneider Electric SE
  • EDF Renewables
  • Enel X
  • ENGIE SA
  • Johnson Controls International
  • WGL Energy
  • Alpiq
  • General Electric

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SIMILAR REPORTS

– The Global renewable energy market was valued at $ 881.7 billion in 2020, and is expected to reach $ 1,977.6 billion by 2030, with a CAGR of 8.4% from 2021 to 2030.

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– The Global Hybrid Solar Wind Energy Storage Market the size should reach $ 1,619.7 million by 2027, from $ 1,075.5 million in 2020, at a compound annual growth rate (CAGR) of 5.6% during 2021-2027.

– The Global Service Integration and Management Market (SIAM) the size should reach $ 4,126.9 million by 2027, from $ 3,205.1 million in 2020, at a compound annual growth rate (CAGR) of 3.2% over the period 2021-2027.

– The Global Advanced energy storage market the size should reach $ 16,970 million by 2027, from $ 11,880 million in 2020, at a CAGR of 4.8% in 2021-2027.

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Margie D. Carlisle