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    Home»Commodities»Energy-as-a-Service (EaaS) Industry Report 2024
    Commodities

    Energy-as-a-Service (EaaS) Industry Report 2024

    October 10, 20247 Mins Read


    Dublin, Oct. 10, 2024 (GLOBE NEWSWIRE) — The “Energy-as-a-Service Market Opportunities and Strategies to 2033” report has been added to ResearchAndMarkets.com’s offering.

    This report describes and explains the energy-as-a-service market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

    The global energy-as-a-service market reached a value of nearly $64.63 billion in 2023, having grown at a compound annual growth rate (CAGR) of 7.76% since 2018. The market is expected to grow from $64.63 billion in 2023 to $116.21 billion in 2028 at a rate of 12.45%. The market is then expected to grow at a CAGR of 11.74% from 2028 and reach $202.41 billion in 2033.

    Growth in the historic period resulted from the surge in energy demand and consumption, rising government support, increasing distributed energy resources, increasing number of smart meters and economic growth in emerging markets. Factors that negatively affected growth in the historic period include rising security concerns in the energy sector.

    Going forward, the renewable energy expansion, energy transition policies and investments, rise in digitalization, rapid industrialization, rising urbanization and rising demand for electric vehicles will drive the market. Factors that could hinder the growth of the energy-as-a-service market in the future include high upfront costs of energy-saving devices.

    The energy-as-a-service market is segmented by service into energy supply services, operation and maintenance and optimization and efficiency services. The energy supply services market was the largest segment of the energy-as-a-service market segmented by service, accounting for 40.47% or $26.15 billion of the total in 2023. Going forward, the optimization and efficiency services segment is expected to be the fastest growing segment in the energy-as-a-service market segmented by service, at a CAGR of 13.80% during 2023-2028.

    The energy-as-a-service market is segmented by provider into utility service provider and third-party provider. The utility service provider market was the largest segment of the energy-as-a-service market segmented by provider, accounting for 62.83% or $40.61 billion of the total in 2023. Going forward, the third-party provider segment is expected to be the fastest growing segment in the energy-as-a-service market segmented by provider, at a CAGR of 13.20% during 2023-2028.

    The energy-as-a-service market is segmented by end-user into residential, commercial and industrial. The commercial market was the largest segment of the energy-as-a-service market segmented by end-user, accounting for 58.54% or $37.84 billion of the total in 2023. Going forward, the industrial segment is expected to be the fastest growing segment in the energy-as-a-service market segmented by end-user, at a CAGR of 13.83% during 2023-2028.

    North America was the largest region in the energy-as-a-service market, accounting for 44.98% or $29.07 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the energy-as-a-service market will be Asia-Pacific and North America, where growth will be at CAGRs of 15.11% and 12.43% respectively. These will be followed by Eastern Europe and Western Europe, where the markets are expected to grow at CAGRs of 11.50% and 11.29% respectively.

    The global energy-as-a-service market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 22.1% of the total market in 2023. Veolia Environment S.A. was the largest competitor with a 5.2% share of the market, followed by Enel S.p.A with 4%, Schneider Electric SE with 3.8%, Engie SA with 2.7%, Siemens AG with 2%, EDF Energy with 1.2%, Honeywell International Inc. with 1.1%, Capstone Green Energy Corporation with 1%, AltaGas Ltd with 0.6% and Edison International (Edison Energy, LLC) with 0.5%.

    The top opportunities in the energy-as-a-service market segmented by service will arise in the energy supply services segment, which will gain $18.46 billion of global annual sales by 2028. The top opportunities in the energy-as-a-service market segmented by provider will arise in the utility service provider segment, which will gain $30.75 billion of global annual sales by 2028. The top opportunities in the energy-as-a-service market segmented by end-user will arise in the commercial segment, which will gain $27.77 billion of global annual sales by 2028. The energy-as-a-service market size will gain the most in the USA at $18.99 billion.

    Market-trend-based strategies for the energy-as-a-service market include focus on artificial intelligence to enhance customer engagement and system efficiency, strategic partnerships and collaborations among market players, launch of virtual power plants to drive renewable integration, focus on battery energy storage to enhance savings and service offerings and use of cloud technology to optimize energy efficiency.

    Player-adopted strategies in the energy-as-a-service market include launching new initiatives focused on energy-as-a-service, particularly in the context of their strategic goals for ecological transformation and sustainability, focus on initiating new plans to enhance energy-as-a-service offering, focusing on renewable energy and innovative technologies, strengthening market position through new product developments and strengthening business operations through strategic partnerships.

    To take advantage of the opportunities, the analyst recommends the energy-as-a-service companies to focus on integrating AI to enhance service offerings, focus on virtual power plants for renewable integration, focus on battery energy storage systems for cost savings, focus on cloud technology for real-time energy management, focus on optimization and efficiency services, focus on third party provider market, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships to expand service portfolio, provide competitively priced offerings, participate in trade shows and events and focus on tailoring solutions for diverse end-user segments.

    Key Attributes

    Report Attribute Details
    No. of Pages 312
    Forecast Period 2023-2033
    Estimated Market Value (USD) in 2023 $64.6 Billion
    Forecasted Market Value (USD) by 2033 $202.4 Billion
    Compound Annual Growth Rate 12.1%
    Regions Covered Global

    Markets Covered:

    1) By Service: Energy Supply Services; Operation and Maintenance; Optimization and Efficiency Services.
    2) By Provider: Utility Service Provider; Third-Party Provider.
    3) By End-user: Residential; Commercial; Industrial.

    Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia.

    Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.

    Time Series: Five years historic and ten years forecast.

    Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; energy-as-a-service indicators comparison.

    Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.

    Key Companies Mentioned: Veolia Environment S.A.; Enel SpA; Schneider Electric SE; Engie SA; Siemens AG

    A selection of other major companies mentioned in this report includes, but is not limited to:

    • EDF Energy
    • Honeywell International Inc.
    • Capstone Green Energy Corporation
    • AltaGas Ltd
    • Edison International (Edison Energy, LLC)
    • Jakson Group
    • China Shenhua Energy Company Limited
    • Envision Energy
    • Ming Yang Wind Power Group Limited
    • Shanghai Electric
    • Suzlon Energy
    • Adani Green Energy Limited
    • NEC Corporation
    • NTPC Limited
    • Australian Energy Market Operator
    • Macquarie Group Limited
    • Keppel
    • Nozomi Energy Limited
    • Actis
    • The Ricoh Company Ltd
    • Alpiq
    • Centrica plc
    • Wendel
    • Orsted A/S
    • Johnson Controls International plc
    • EKS Energy
    • Recap Energy
    • Hitachi Energy Ltd
    • BaxEnergy
    • Tvinn
    • Nano Energies
    • CEZ ESCO
    • Colliers Poland
    • Fuergy
    • Amper Market, a.s.
    • Innogy Polska
    • Gazprom
    • Rosneft
    • Surgutneftegas
    • Novatek
    • CEZ
    • Diverso Energy Inc
    • Centrica Business Solutions
    • Fotowatio Renewable Ventures (FRV)
    • Budderfly
    • Energy Toolbase
    • Redaptive
    • Contemporary Energy Solutions
    • Duke Energy
    • General Electric Company
    • NextEra Energy
    • Green Mountain Energy
    • TPI Composites
    • Renewable Energy Group Inc
    • Clearway Energy
    • Tesla
    • IOGEN Corporation
    • Ag-west Bio
    • Innergex/Alterra Power
    • Bullfrog Power
    • 3G Energy
    • KEPCO Energy Service Company
    • Shell
    • Baker hughes
    • Eletrobras
    • Enphase Energy Inc
    • Colbun SA
    • Celsia
    • Sempra Infraestructura
    • Moka Power
    • SOLARVIEW
    • FLEXIMETAL BRASIL
    • GreenStudio Energy Efficiency
    • Startup Oika Tecnologia & Inovacao
    • Mubadala Investment Company
    • Sirius Energy
    • Yellow Door Energy
    • Enova
    • Alfanar Energy
    • Solar Africa
    • Rensource Distributed Energy Ltd
    • Juwi Renewable Energies
    • Powergen Renewable Energy
    • Powerhive
    • Daystar Power
    • Juabar

    For more information about this report visit https://www.researchandmarkets.com/r/sleif0

    About ResearchAndMarkets.com
    ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

    • Energy-as-a-Service Market
    
                



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