Energy as a Service Market to Touch USD 125.54 Billion at 9.20% CAGR by 2030

Market Analysis

The global energy as a service market will touch USD 125.54 billion at a 9.20% CAGR by 2030, as per the recent Market Research Future report.

Drivers

Increasing Adoption in Commercial Sector to Boost Market Growth

The increasing adoption of energy in the commercial sector will boost market growth in the forecast period for the rising energy consumption coupled with increasing energy prices within this domain. The commercial sector comprises warehouses, healthcare, data centers, educational institutes, and restaurants that consume energy in large amounts. The need for energy optimization along with the use of sustainable energy sources are fuelling market growth. Also, the energy needs differ as per the commercial buildings and EaaS implement the efficiency programs with minimal resources and better technical skills that is favoring market growth.

Opportunities

Growing Focus on Renewable Sources to offer Robust Opportunities

The growing focus on renewable sources will offer robust opportunities for the energy as a service market in the forecast period owing to its smaller carbon footprint, environment-friendliness, lower costs, and high efficiency. Besides, the government’s increasing investments to produce renewable energy is also adding market growth.

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Key Players

Prominent industry players profiled in the global energy as a service market report include:

• Johnson Controls (Ireland)
• Duke Energy (US)
• EDF Renewable Energy (UK)
• Edison International (US)
• Engie (France)
• Southern Company (US)
• Schneider Electric SE (France)
• General Electric (US)
• Siemens AG (Germany)
• WGL Energy (US)
• Orsted (Denmark)
• Enel X (Italy)
• SmartWatt (US)
• Bernhard Energy (US
• Enertika (Sapin)
• Honeywell (US)
• Veolia (France)
• Noresco (US)
• WendelEnergy Services (US).

Restraints and Challenges

High Capital Investment to act as Market Restraint

The high capital investment and high deployment cost may act as market restraints over the forecast period.

Besides, the COVID-19 impact may also impede market growth.

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Market Segmentation

The global energy as a service market is bifurcated based on end user and components.

Based on components, services will lead the market over the forecast period.

By end user, industrial will domineer the market over the forecast period.

Regional Analysis

North America to Head Energy as a Service Market

North America will head the energy as a service market over the forecast period for the robust development in data analytics and AI. Other factors boding well for the market growth comprise the rising need for energy in residential and industrial sectors, increasing industrial and commercial projects, increasing use of renewable energy, technological advances and favorable investments made by the government in refining and production sectors. Further, the growing research and developments to create green building models for reducing energy consumption are also adding market growth in the region.

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Europe to Have Admirable Growth in Energy as a Service Market

Europe will have admirable growth in the market over the forecast period for the rising use of renewable sources for the consumption of energy. Germany followed by the UK grabbed the utmost market share in the region.

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