Global Energy-As-A-Service Market Size 2024, Forecast To 2033
11 Mar, 2024
The energy-as-a-service market size has grown strongly in recent years. It will grow from $64.57 billion in 2023 to $70.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid urbanization, and the rise in digitalization. The energy-as-a-service market size is expected to see strong growth in the next few years. It will grow to $103.13 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to rapid industrialization, increasing government support, distributed energy resources, and the number of smart meters. Major trends in the forecast period include artificial intelligence, virtual power plants, battery energy storage, cloud technology, subscription-based services, partnerships, collaborations, and investments.
Global Energy-as-a-Service Market Key Driver
The rise in global energy consumption is poised to propel the growth of the energy-as-a-service market. Energy consumption, representing the energy used for various activities, is vital for transportation, lighting, cooling, heating in buildings, agriculture, manufacturing, and mining. According to the International Energy Outlook in April 2022, released by the US Energy Information Administration (EIA), total U.S. energy consumption in 2021 increased by approximately 4.7% compared to 2020, reaching 97 quads. Notably, every energy-using industry experienced higher energy use in 2021, with the transportation industry witnessing the largest annual rise of around 10.2%. This surge in global energy consumption is a key driver for the growth of the energy-as-a-service market, with market sizes in 2023, 2024, and 2028 shaping the trajectory of this industry.
Get A Free Sample Of The Global Energy-as-a-Service Market ReportGlobal Energy-as-a-Service Market Segments
The energy-as-a-service market covered in this report is segmented –
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
By Geography:The regions covered in the energy-as-a-service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the energy-as-a-service market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the energy-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Energy-as-a-Service Industry Players
Schneider Electric SE, Veolia Environment S.A., Engie SA, Enel S.p.A, Siemens AG,Honeywell International Inc., EDF, Bernhard Energy Solutions, AltaGas Ltd, Johnson Controls International PLC, China Shenhua Energy Company, Envision Energy, Mingyang, Gamesa, Shanghai Electric, CSSC, Suzlon Energy Limited, Adani Green Energy Limited, G3 Holdings and NTPC Limited, Centrica, E. ON UK., Npower, ScottishPower, Gazprom, Rosneft, Surgutneftegas, Novatek, CEZ, Contemporary Energy Solutions, Duke Energy, Edison International, General Electric Company, NextEra Energy, Green Mountain Energy, TPI Composites, Renewable Energy Group, Inc, Clearway Energy, First Solar Inc, PlanEt, Tesla, IOGEN Corporation, Bio-EnPower Inc, Ag-west Bio, Nulife Green Tech, Innergex/Alterra Power, Bullfrog Power, 3G Energy, KEPCO Energy Service Company, CFE, Pemex, Shell, Baker hughes, Tenaries, Moka Power, SOLARVIEW, FLEXIMETAL BRASIL, RVT Energia, Wiseful, GreenStudio Energy Efficiency, DS-Engenharia-Solar, Oika Tecnologia & Inovação, Yellow Door Energy, Enova, Alfanar Energy, Solar Africa, Rensource Distributed Energy Ltd, powergen renewable energy, Powerhive, Daystar Power, Juabar
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Energy-as-a-Service Market Overview
Energy-as-a-service (EaaS) is a business model whereby customers pay for an energy service without having to make any initial capital investment. EaaS models typically take the form of a subscription for electrical devices owned by a service company or management of energy usage to deliver the desired energy service.
Energy-as-a-Service Global Market Report 2023 provides data on the global energy-as-a-service market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The energy-as-a-service market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.