Energy As A Service
PUBLISHED: 2024 ID: SMRC26423
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Energy As A Service

Energy as a Service Market Forecasts to 2030 - Global Analysis By Service Type (Energy Supply Services, Energy Efficiency Services and Operation and Maintenance Services), End User (Industrial Sector, Commercial Sector, Public Sector and Residential Sector) and By Geography

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4.2 (20 reviews)
Published: 2024 ID: SMRC26423

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Energy as a Service Market is accounted for $81.5 billion in 2024 and is expected to reach $163.6 billion by 2030 growing at a CAGR of 12.3% during the forecast period. Energy as a Service (EaaS) is a business model where energy services are provided to customers as a subscription-based solution rather than selling energy products outright. It encompasses a range of services, including energy supply, efficiency improvements, and renewable energy integration. EaaS aims to optimize energy usage, reduce costs, and mitigate environmental impact while providing flexibility and scalability to meet evolving energy needs.

According to the IEA, global electricity demand rose moderately in 2023 but is set to grow faster through 2026, at an average of 3.4% annually.

Market Dynamics:

Driver: 

Increasing focus on sustainability

With rising environmental concerns and stringent regulations to mitigate climate change, businesses are prioritizing sustainable energy solutions. EaaS offers a pathway to achieving sustainability goals by facilitating the integration of renewable energy sources, optimizing energy consumption, and reducing carbon footprints. This aligns with corporate sustainability initiatives, driving the adoption of EaaS as a strategic approach to address environmental challenges while enhancing operational efficiency and competitiveness.

Restraint:

Complexity of implementation

Implementing EaaS solutions often involves coordinating various stakeholders, including energy providers, technology vendors, and end-users, which can be challenging. Additionally, customization of solutions to meet specific energy needs and navigating regulatory requirements add further complexity. Overcoming these implementation challenges requires significant expertise, resources, and time, potentially slowing down EaaS adoption.

Opportunity:

Flexibility and scalability

EaaS models offer adaptable solutions that can be tailored to meet the unique energy needs of businesses and industries. The ability to scale services up or down based on demand fluctuations and evolving requirements provides customers with cost-effective and customized energy solutions. This flexibility not only enhances customer satisfaction but also fosters long-term relationships and enables EaaS providers to capture a broader market share.

Threat:

Data privacy and security concerns

EaaS involves the collection and analysis of sensitive energy consumption data. There are heightened risks of data breaches, unauthorized access, and misuse of information. The potential exposure of proprietary energy data can lead to competitive disadvantages, financial losses, and reputational damage for both EaaS providers and customers. Additionally, stringent regulatory requirements, such as GDPR and CCPA, necessitate robust data protection measures, increasing compliance costs and complexity.

Covid-19 Impact: 

The COVID-19 pandemic has affected the energy as a service market by disrupting supply chains, delaying projects, and reducing investments in energy efficiency and sustainability initiatives. Lockdown measures and economic uncertainties have led to decreased demand from the commercial and industrial sectors. However, recovery efforts, coupled with a renewed focus on resilience and cost savings, are expected to drive a market rebound post-pandemic.

The energy supply services segment is expected to be the largest during the forecast period

The energy supply services segment is projected to emerge as the largest in the energy as a service market during the forecast period. This dominance is attributed to the increasing demand for reliable and sustainable energy sources across various industries. Energy supply services encompass electricity, natural gas, and renewable energy supply, catering to the diverse energy needs of businesses and households. Moreover, advancements in renewable energy technologies and favorable government policies drive the growth of this segment.

The commercial sector segment is expected to have the highest CAGR during the forecast period 

The commercial sector segment is forecasted to exhibit the highest growth rate in the energy as a service market during the projected period. This growth is fueled by increasing awareness among businesses about energy efficiency and sustainability. Commercial entities, including office buildings, retail stores, and hospitality establishments, are increasingly adopting energy as a service solutions to reduce operational costs, enhance environmental performance, and comply with regulatory requirements, thus driving the segment's rapid expansion.

Region with largest share:

North America is anticipated to hold the largest market share in the energy as a service market during the forecast period. This dominance is attributed to several factors, including the region's strong emphasis on energy efficiency, supportive regulatory frameworks, and the widespread adoption of advanced energy technologies. Additionally, increasing investments in renewable energy projects and initiatives to modernize aging infrastructure further bolster market growth. Moreover, a growing focus on sustainability and reducing carbon emissions drives demand for energy-as-a service solutions in the region.

Region with highest CAGR:

The Asia Pacific region foresees rapid growth in the energy as a service market owing to the region's burgeoning population, rapid urbanization, and increasing industrialization, which drive up energy demand. Additionally, governments in countries like China and India are promoting energy efficiency and renewable energy adoption to address environmental concerns and meet sustainability goals. These initiatives, combined with supportive policies and investments in infrastructure, create a conducive environment for the rapid expansion of the energy as a service market in the region.

Key players in the market

Some of the key players in Energy as a Service Market include Siemens AG, Johnson Controls International plc, Honeywell International Inc., Schneider Electric SE, General Electric Company (GE), ENGIE SA, Enel X, Ameresco, Inc., Centrica plc, Trane Technologies plc, Veolia, WGL Energy Services, Constellation Energy, Engie Impact, NRG Energy, Inc., Edison Energy, SmartWatt, Sparkfund, Noresco and Clearway Energy Group.

Key Developments:

In April 2024, Siemens and Mercedes-Benz Transform Future of Sustainable Factory Planning with Digital Energy Twin. Under a strategic partnership between Siemens and Mercedes-Benz AG, the companies have co-created a Digital Energy Twin to improve the integration of energy efficiency and sustainability measures in factory designs and upgrades.

In February 2024, Schneider Electric, the leader in the digital transformation of energy management and automation, today announced that it has committed to invest in a portfolio of Texas-based clean energy projects utilizing a Tax Credit Transfer Agreement (TCTA) for solar and battery storage systems developed, built, and operated by ENGIE North America (ENGIE).

In January 2024, Honeywell and NXP® Semiconductors N.V. announced at CES 2024 that they have signed a Memorandum of Understanding (MOU) to help optimise the way commercial buildings sense and securely control energy consumption.

Service Types Covered:
• Energy Supply Services
• Energy Efficiency Services
• Operation and Maintenance Services

End Users Covered:
• Industrial Sector
• Commercial Sector
• Public Sector
• Residential Sector       

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary      
       
2 Preface      
 2.1 Abstract     
 2.2 Stake Holders     
 2.3 Research Scope     
 2.4 Research Methodology     
  2.4.1 Data Mining    
  2.4.2 Data Analysis    
  2.4.3 Data Validation    
  2.4.4 Research Approach    
 2.5 Research Sources     
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions    
       
3 Market Trend Analysis      
 3.1 Introduction     
 3.2 Drivers     
 3.3 Restraints     
 3.4 Opportunities     
 3.5 Threats     
 3.6 End User Analysis     
 3.7 Emerging Markets     
 3.8 Impact of Covid-19     
       
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry     
       
5 Global Energy as a Service Market, By Service Type      
 5.1 Introduction     
 5.2 Energy Supply Services     
  5.2.1 Electricity Supply    
  5.2.2 Natural Gas Supply    
  5.2.3 Renewable Energy Supply    
 5.3 Energy Efficiency Services     
  5.3.1 Energy Auditing and Consulting    
  5.3.2 Energy Management Software    
  5.3.3 Building Energy Management Systems (BEMS)    
 5.4 Operation and Maintenance Services     
  5.4.1 Equipment Maintenance    
  5.4.2 Performance Monitoring and Optimization    
       
6 Global Energy as a Service Market, By End User      
 6.1 Introduction     
 6.2 Industrial Sector     
  6.2.1 Manufacturing    
  6.2.2 Mining    
  6.2.3 Construction    
  6.2.4 Other Industrial Sector    
 6.3 Commercial Sector     
  6.3.1 Office Buildings    
  6.3.2 Retail Stores    
  6.3.3 Hospitality Industry    
  6.3.4 Other Commercial Sector    
 6.4 Public Sector     
 6.5 Residential Sector     
       
7 Global Energy as a Service Market, By Geography      
 7.1 Introduction     
 7.2 North America     
  7.2.1 US    
  7.2.2 Canada    
  7.2.3 Mexico    
 7.3 Europe     
  7.3.1 Germany    
  7.3.2 UK    
  7.3.3 Italy    
  7.3.4 France    
  7.3.5 Spain    
  7.3.6 Rest of Europe    
 7.4 Asia Pacific     
  7.4.1 Japan    
  7.4.2 China    
  7.4.3 India    
  7.4.4 Australia    
  7.4.5 New Zealand    
  7.4.6 South Korea    
  7.4.7 Rest of Asia Pacific    
 7.5 South America     
  7.5.1 Argentina    
  7.5.2 Brazil    
  7.5.3 Chile    
  7.5.4 Rest of South America    
 7.6 Middle East & Africa     
  7.6.1 Saudi Arabia    
  7.6.2 UAE    
  7.6.3 Qatar    
  7.6.4 South Africa    
  7.6.5 Rest of Middle East & Africa    
       
8 Key Developments      
 8.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 8.2 Acquisitions & Mergers     
 8.3 New Product Launch     
 8.4 Expansions     
 8.5 Other Key Strategies     
       
9 Company Profiling      
 9.1 Siemens AG     
 9.2 Johnson Controls International plc     
 9.3 Honeywell International Inc.     
 9.4 Schneider Electric SE     
 9.5 General Electric Company (GE)     
 9.6 ENGIE SA     
 9.7 Enel X     
 9.8 Ameresco, Inc.     
 9.9 Centrica plc     
 9.10 Trane Technologies plc     
 9.11 Veolia     
 9.12 WGL Energy Services     
 9.13 Constellation Energy     
 9.14 Engie Impact     
 9.15 NRG Energy, Inc.     
 9.16 Edison Energy     
 9.17 SmartWatt     
 9.18 Sparkfund     
 9.19 Noresco     
 9.20 Clearway Energy Group     
       
List of Tables       
1 Global Energy as a Service Market Outlook, By Region (2022-2030) ($MN)      
2 Global Energy as a Service Market Outlook, By Service Type (2022-2030) ($MN)      
3 Global Energy as a Service Market Outlook, By Energy Supply Services (2022-2030) ($MN)      
4 Global Energy as a Service Market Outlook, By Electricity Supply (2022-2030) ($MN)      
5 Global Energy as a Service Market Outlook, By Natural Gas Supply (2022-2030) ($MN)      
6 Global Energy as a Service Market Outlook, By Renewable Energy Supply (2022-2030) ($MN)      
7 Global Energy as a Service Market Outlook, By Energy Efficiency Services (2022-2030) ($MN)      
8 Global Energy as a Service Market Outlook, By Energy Auditing and Consulting (2022-2030) ($MN)      
9 Global Energy as a Service Market Outlook, By Energy Management Software (2022-2030) ($MN)      
10 Global Energy as a Service Market Outlook, By Building Energy Management Systems (BEMS) (2022-2030) ($MN)      
11 Global Energy as a Service Market Outlook, By Operation and Maintenance Services (2022-2030) ($MN)      
12 Global Energy as a Service Market Outlook, By Equipment Maintenance (2022-2030) ($MN)      
13 Global Energy as a Service Market Outlook, By Performance Monitoring and Optimization (2022-2030) ($MN)      
14 Global Energy as a Service Market Outlook, By End User (2022-2030) ($MN)      
15 Global Energy as a Service Market Outlook, By Industrial Sector (2022-2030) ($MN)      
16 Global Energy as a Service Market Outlook, By Manufacturing (2022-2030) ($MN)      
17 Global Energy as a Service Market Outlook, By Mining (2022-2030) ($MN)      
18 Global Energy as a Service Market Outlook, By Construction (2022-2030) ($MN)      
19 Global Energy as a Service Market Outlook, By Other Industrial Sector (2022-2030) ($MN)      
20 Global Energy as a Service Market Outlook, By Commercial Sector (2022-2030) ($MN)      
21 Global Energy as a Service Market Outlook, By Office Buildings (2022-2030) ($MN)      
22 Global Energy as a Service Market Outlook, By Retail Stores (2022-2030) ($MN)      
23 Global Energy as a Service Market Outlook, By Hospitality Industry (2022-2030) ($MN)      
24 Global Energy as a Service Market Outlook, By Other Commercial Sector (2022-2030) ($MN)      
25 Global Energy as a Service Market Outlook, By Public Sector (2022-2030) ($MN)      
26 Global Energy as a Service Market Outlook, By Residential Sector (2022-2030) ($MN)      
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.       

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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