Energy Engineering Service Outsourcing Market
Energy Engineering Service Outsourcing Market Forecasts to 2030 - Global Analysis By Service (Structuring & Layout, R&D & Designing, Digitization, Implementation & Maintenance and Other Services), Location, Energy Source, Application, End User and By Geography
According to Stratistics MRC, the Global Energy Engineering Service Outsourcing Market is accounted for $391.6 million in 2023 and is expected to reach $1513.4 million by 2030 growing at a CAGR of 21.3% during the forecast period. Energy engineering service outsourcing involves contracting specialized firms to handle various aspects of energy-related projects, such as design, analysis, implementation, and maintenance. These services encompass a wide range of tasks, including energy auditing, efficiency optimization, renewable energy integration, and sustainability consulting. Outsourcing allows organizations to leverage external expertise, reduce operational costs, and access cutting-edge technologies without investing in in-house resources.
According to the U.K.-based World Nuclear Association, nuclear power is the second-largest source of low-carbon electricity worldwide after hydropower, and it reduces carbon dioxide emissions by 2.5 billion tons per year.
Market Dynamics:
Driver:
Increasing investment in renewable energy infrastructure
Renewable energy projects like solar farms, wind turbines, and geothermal plants require specialized engineering knowledge and experience. Energy engineering service outsourcing possesses this expertise in designing, constructing, and maintaining these complex systems. As more renewable projects are built, the demand for energy engineering service outsourcing services will rise. Moreover energy companies are looking for ways to manage costs while building renewable infrastructure. Outsourcing to ESPs can provide access to skilled labour at competitive rates, particularly in regions with a large pool of qualified engineers rising the demand for energy engineering service outsourcing.
Restraint:
Security and intellectual property (IP) concerns
Companies are apprehensive about outsourcing critical engineering projects if there's a risk of confidential data or technical information being compromised. This can lead to missed opportunities for growth and innovation in the engineering service outsourcing market. Due to IP theft fears, companies might outsource only routine engineering tasks, keeping sensitive projects in-house. This restricts the range of services that engineering service outsourcing can offer and limits the overall market potential.
Opportunity:
Growing demand for digitization
Digitization enables seamless communication and collaboration between outsourcing firms and their clients, allowing for real-time project updates, virtual meetings, and document sharing. This facilitates smoother project management and enhances efficiency in delivering engineering services. Outsourcing firms can leverage these tools to analyze large datasets, optimize energy systems, and automate repetitive tasks, leading to improved accuracy and faster project delivery.
Threat:
Quality control issues
Quality control issues can result in client dissatisfaction due to receiving deliverables that do not meet their expectations or standards. This can lead to strained client relationships, loss of trust, and potential contract terminations, impacting long-term partnerships and recurring revenue streams. Thus failure to meet quality standards and regulatory requirements can expose outsourcing firms to legal liabilities, fines, and penalties. Non-compliance with industry regulations or safety standards can result in litigation, damage claims, and reputational harm.
Covid-19 Impact
Remote work mandates have accelerated digitalization, prompting firms to adopt virtual collaboration tools. Cost-consciousness has driven businesses to seek outsourcing partners for cost-effective solutions. However, uncertainties in global markets and fluctuating energy demand have tempered growth. Despite challenges, the crisis has highlighted the importance of resilient energy systems, fostering innovation in renewable energy and efficiency solutions. Overall, the pandemic has reshaped priorities, accelerating trends towards remote work, digitalization, and sustainable energy practices in outsourcing services.
The R&D & designing segment is expected to be the largest during the forecast period
The R&D & designing segment is estimated to have a lucrative growth, because Designing services offered through outsourcing facilitate the customization of energy solutions tailored to specific client needs and project requirements. Outsourced design teams can provide comprehensive planning, simulation, and modelling services, ensuring the integration of renewable energy sources, energy storage systems, and efficient infrastructure. Moreover outsourcing R&D enables access to specialized expertise and accelerates the adoption of emerging technologies, such as advanced analytics, IoT, and AI, to optimize energy systems boosting the market growth.
The renewable segment is expected to have the highest CAGR during the forecast period
The renewable segment is anticipated to witness the highest CAGR growth during the forecast period, because renewable energy projects often require a multidisciplinary approach, incorporating aspects of electrical, mechanical, and civil engineering. Outsourcing firms offering a diverse range of services can capitalize on this trend by providing comprehensive solutions for renewable energy projects, from feasibility studies to system integration. Additionally outsourcing allows companies to access talent and resources from around the world, enabling them to participate in renewable energy projects in different regions expanding the markets presence.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to the rapid growth of cities and industries. Outsourcing power engineering services presents numerous advantages, such as access to specialised knowledge, value savings, and faster assignment execution. Moreover, energy engineering outsourcing can guide governments and agencies in accomplishing their sustainability targets via tapping into the expertise of carrier providers who possess in-depth information of energy technologies.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to increasing investment in renewable energy sources is the primary factor driving the region's growth. For instance, according to the U.S. Energy Information Administration (EIA), electricity production from renewable sources in 2020 increased to 20.0% from 17.0% in 2019. Moreover, the early adoption of advanced technologies in the energy sector is also expected to drive regional market growth over the forecast period.
Key players in the market
Some of the key players in the Energy Engineering Service Outsourcing Market include International Paper Co, Fresh Pak Corp, Georgia-Pacific LLC, Red Rock Pallet Co Inc, Badger Paperboard Inc, Dura-Fibre LLC, Menasha Corp, Signode Industrial Group LLC, Fibre Converters Inc, WestRock Co, Smurfit Kappa Group, Mondi Group, Nefab Group, Elsons International, Inc., DS Smith Plc, Thimm Group and Cascades Inc.
Key Developments:
In April 2024, International Paper and DS Smith Plc announced that they have reached agreement on the terms of a recommended all-share combination, creating a truly global leader in sustainable packaging solutions.
In April 2024, Georgia-Pacific's Crossett Mill Earns EPA Recognition for Energy Conservation. The ENERGY STAR Challenge for Industry is a national call-to-action to improve American manufacturer’s energy efficiency.
In May 2023, Dura-Fibre LLC acquired Greif Chicago Converting, a packaging business in Chicago, to strengthen its position in custom laminated products and packaging. The acquisition includes products such as strap protectors, FiberWrap, and coverboard products.
Services Covered:
• Structuring & Layout
• R&D & Designing
• Digitization
• Implementation & Maintenance
• Other Services
Locations Covered:
• On Shore
• Off Shore
Energy Sources Covered:
• Non-renewable
• Renewable
• Chemical Processing
Applications Covered:
• Power Generation
• Energy Efficiency and Conservation
• Energy Management Systems (EMS)
• Smart Grid Solutions
• Energy Infrastructure Development
• Energy Storage Solutions
• Other Applications
End Users Covered:
• Oil & Gas
• Commercial Buildings
• Government and Public Sector
• Transportation
• Residential
• Other End Users
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 2021, 2022, 2023, 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
o 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 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 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 Engineering Service Outsourcing Market, By Service
5.1 Introduction
5.2 Structuring & Layout
5.3 R&D & Designing
5.4 Digitization
5.5 Implementation & Maintenance
5.6 Other Services
6 Global Energy Engineering Service Outsourcing Market, By Location
6.1 Introduction
6.2 On Shore
6.3 Off Shore
7 Global Energy Engineering Service Outsourcing Market, By Energy Source
7.1 Introduction
7.2 Non-renewable
7.3 Renewable
7.4 Chemical Processing
8 Global Energy Engineering Service Outsourcing Market, By Application
8.1 Introduction
8.2 Power Generation
8.3 Energy Efficiency and Conservation
8.4 Energy Management Systems (EMS)
8.5 Smart Grid Solutions
8.6 Energy Infrastructure Development
8.7 Energy Storage Solutions
8.8 Other Applications
9 Global Energy Engineering Service Outsourcing Market, By End User
9.1 Introduction
9.2 Oil & Gas
9.3 Commercial Buildings
9.4 Government and Public Sector
9.5 Transportation
9.6 Residential
9.7 Other End Users
10 Global Energy Engineering Service Outsourcing Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Accenture Plc
12.2 Altair Engineering Inc.
12.3 Alten Group
12.4 Assystem
12.5 Boston Engineering Corporation
12.6 Capgemini Engineering (Altran)
12.7 Cubic Corporation
12.8 Cyient
12.9 ESI Group
12.10 HCL Technologies Limited
12.11 LUXOFT, A DXC TECHNOLOGY COMPANY
12.12 Microsoft Azure
12.13 Mott MacDonald
12.14 QUEST GLOBAL
12.15 Rilco Engineering Services
12.16 Segula Technologies
12.17 Semcon
12.18 STATS
12.19 Total OutSource, Inc.
12.20 Wipro Limited
List of Tables
1 Global Energy Engineering Service Outsourcing Market Outlook, By Region (2021-2030) ($MN)
2 Global Energy Engineering Service Outsourcing Market Outlook, By Service (2021-2030) ($MN)
3 Global Energy Engineering Service Outsourcing Market Outlook, By Structuring & Layout (2021-2030) ($MN)
4 Global Energy Engineering Service Outsourcing Market Outlook, By R&D & Designing (2021-2030) ($MN)
5 Global Energy Engineering Service Outsourcing Market Outlook, By Digitization (2021-2030) ($MN)
6 Global Energy Engineering Service Outsourcing Market Outlook, By Implementation & Maintenance (2021-2030) ($MN)
7 Global Energy Engineering Service Outsourcing Market Outlook, By Other Services (2021-2030) ($MN)
8 Global Energy Engineering Service Outsourcing Market Outlook, By Location (2021-2030) ($MN)
9 Global Energy Engineering Service Outsourcing Market Outlook, By On Shore (2021-2030) ($MN)
10 Global Energy Engineering Service Outsourcing Market Outlook, By Off Shore (2021-2030) ($MN)
11 Global Energy Engineering Service Outsourcing Market Outlook, By Energy Source (2021-2030) ($MN)
12 Global Energy Engineering Service Outsourcing Market Outlook, By Non-Renewable (2021-2030) ($MN)
13 Global Energy Engineering Service Outsourcing Market Outlook, By Renewable (2021-2030) ($MN)
14 Global Energy Engineering Service Outsourcing Market Outlook, By Chemical Processing (2021-2030) ($MN)
15 Global Energy Engineering Service Outsourcing Market Outlook, By Application (2021-2030) ($MN)
16 Global Energy Engineering Service Outsourcing Market Outlook, By Power Generation (2021-2030) ($MN)
17 Global Energy Engineering Service Outsourcing Market Outlook, By Energy Efficiency and Conservation (2021-2030) ($MN)
18 Global Energy Engineering Service Outsourcing Market Outlook, By Energy Management Systems (EMS) (2021-2030) ($MN)
19 Global Energy Engineering Service Outsourcing Market Outlook, By Smart Grid Solutions (2021-2030) ($MN)
20 Global Energy Engineering Service Outsourcing Market Outlook, By Energy Infrastructure Development (2021-2030) ($MN)
21 Global Energy Engineering Service Outsourcing Market Outlook, By Energy Storage Solutions (2021-2030) ($MN)
22 Global Energy Engineering Service Outsourcing Market Outlook, By Other Applications (2021-2030) ($MN)
23 Global Energy Engineering Service Outsourcing Market Outlook, By End User (2021-2030) ($MN)
24 Global Energy Engineering Service Outsourcing Market Outlook, By Oil & Gas (2021-2030) ($MN)
25 Global Energy Engineering Service Outsourcing Market Outlook, By Commercial Buildings (2021-2030) ($MN)
26 Global Energy Engineering Service Outsourcing Market Outlook, By Government and Public Sector (2021-2030) ($MN)
27 Global Energy Engineering Service Outsourcing Market Outlook, By Transportation (2021-2030) ($MN)
28 Global Energy Engineering Service Outsourcing Market Outlook, By Residential (2021-2030) ($MN)
29 Global Energy Engineering Service Outsourcing Market Outlook, By Other End Users (2021-2030) ($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
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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