What Has Been Energy as a Service Market in Recent Years?
The energy as a service market has seen considerable growth due to a variety of factors.
• In the past few years, the market size of energy as a service has expanded briskly. The market value is projected to surge from $72.53 billion in 2024 to $81.46 billion in 2025, translating to a 12.3% Compound Annual Growth Rate (CAGR). Factors fueling the growth during the historical period encompass the adoption of renewable energy, measures toward energy efficiency, regulatory backing, the integration of smart buildings and IoT, cost-cutting and budget optimization, alongside the call for sustainability.
What Is The Projected Growth Of The Energy as a Service Market?
The energy as a service market is expected to maintain its strong growth trajectory in upcoming years.
• In the following years, the energy as a service market is anticipated to experience a swift expansion. The market is projected to escalate to $130.57 billion by 2029, with a compound annual growth rate (CAGR) of 12.5%.
Factors contributing to this growth during the projected period include the rising complexity in energy management, the emergence of decentralized energy systems, energy resilience and security, worldwide expansion of east models, and integration of data analytics and AI. The projected period will likely see significant trends such as the incorporation of blockchain technology, technological progress, the decentralization of energy systems, data analytics, predictive maintenance, and demand response integration.
Which Key Drivers Are Propelling Th Energy as a Service Market's Growth?
The surge in renewable energy production is predicted to boost the advancement of the energy as a service market. This type of energy is harnessed from naturally restorable yet flow-restricted sources that are practically limitless in volume but constrained in energy yield per time unit. The proliferation of renewable energy will, therefore, expand the energy as a service sector. For example, the Energy Information Administration, a US government agency, reported in September 2022 that during the first half of the year, renewable energy accounted for 24% of the US electricity production, a rise from 21% during the corresponding period of the previous year. Consequently, the escalating demand for enhanced renewable energy production stimulates the energy as a service market.
What Are The Principal Market Segments In The Global Energy as a Service Healthcare Industry?
The energy as a service market covered in this report is segmented –
1) By Component: Solutions, Services
2) By End-User: Commercial, Industrial
Subsegments:
1) By Solutions: Energy Management Systems, Renewable Energy Solutions, Energy Storage Solutions
2) By Services: Consulting Services, Implementation Services, Maintenance And Support Services
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Which Emerging Market Trends Are Altering The Energy as a Service
Collaborations and contracts between enterprises are emerging trends gaining traction in the energy as a service sector. Firms in this market are partaking in such collaborations and contracts to cater to consumer demands. For instance, in June 2024, Adventist Health, a mission-driven, nonprofit, integrated health organization serving more than 90 communities in the West Coast and Hawaii, declared a pioneering 30-year Energy-as-a-Service (EaaS) collaboration with Bernhard, a US-based energy infrastructure company. This collaboration is touted as the biggest EaaS initiative in American history. The goal of this partnership is to revolutionize the energy frameworks of Adventist Health, ensuring an annual utility cost reduction of 20% and significantly enhancing its sustainability endeavors across the network. A $457 million plan has been set in place to fund enhancements to energy infrastructure, leading to significant cutbacks in Green House Gas emissions - 61.1% in electricity buys and 63.7% in Scope 2 discharges at chosen facilities.
Who Are the Key Players in the Energy as a Service Market?
Major companies operating in the energy as a service market include:
• Enel S.p.A.
• Engie SA
• Siemens AG
• General Electric Company
• Veolia Environnement S.A.
• Mitsubishi Electric Corporation
• Schneider Electric SE
• Honeywell International Inc.
• Centrica plc
• Duke Energy Corporation
• Johnson Controls International plc
• Eaton Corporation
• Edison International
• Alpiq Holding SA
• Tetra Tech Inc.
• EDF Renewable Energy
• Ameresco Inc.
• WGL Energy
• ABB India Ltd.
• Bernhard LLC
• SmartWatt Energy Inc.
• Entegrity Partners LLC
• Enertika Inc.
• Contemporary Energy Solutions LLC
• Solarus Energy Inc.
What are the Regional Insights into the Energy as a Service Market?
North America was the largest region in the energy as a service market in 2024. Middle East and Africa are expected to be the fastest-growing regions in the energy as a service market during 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.
