Energy as a service Market Scope
Energy as a service, an innovative ways to finance energy efficiency could help smooth the way for new rate structures and cleaner energy. It consists numerous aspects of customer’s energy portfolio such as program management, strategy, energy supply, asset management and energy use by using new services, products and technology solutions. Moreover, to reduce energy footprint, commercial and industrial sector consumers are increasingly investing in energy and procuring energy from more sustainable sources. Of late, energy as a service (EaaS) providers designs the scope of the project according to the customer’s needs and enters into an energy services agreement (ESA) for a contracted period to cover costs and repayment of services. In the current scenario, the market has shifted to more distributed energy resources (DERs) in response to grid reliability issues, severe weather events, equipment failures, decreases in the costs of DERs, and customer interest in renewables.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | EDF Energy (France), Edison International (United States), Enel Spa (Italy), ENGIE (France), Schneider Electric (France), Siemens AG (Germany), Honeywell (United States), Veolia (France), WGL Holdings Inc. (United States), Contemporary Energy Solutions (United States) and Bernhard Energy (United States) |
CAGR | 13.1% |
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product. Research Analyst at AMA estimates that United States and France Manufacturers will contribute to the maximum growth of Global Energy as a service market throughout the predicted period.
EDF Energy (France), Edison International (United States), Enel Spa (Italy), ENGIE (France), Schneider Electric (France), Siemens AG (Germany), Honeywell (United States), Veolia (France), WGL Holdings Inc. (United States), Contemporary Energy Solutions (United States) and Bernhard Energy (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Enertika (Spain), Solarus (Netherlands), Orsted A/S (Denmark) and SmartWatt (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Energy as a service market by Type and Region with country level break-up.
On the basis of geography, the market of Energy as a service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In August 2023, Schneider Electric acquired Züblin, a European leader in energy efficiency solutions, for €1.1 billion. This expands Schneider's EaaS offerings for buildings and industries.
In October 2023, ENGIE and Volkswagen Group announced a strategic partnership to develop and offer EaaS solutions for electric vehicle charging infrastructure.
Influencing Trend:
The Growth in Energy Consumption and Price Volatility, and Increasing Potential of Renewable Energy
Market Growth Drivers:
Surging Distributed Energy Resources Across the World and Decreasing Cost of Renewable Power Generation and Storage Solutions
Challenges:
Uncertainty About Agreement Structure
Restraints:
High Integration and Deployment Cost and Large Dominance of Existing Centralized Utility Models
Opportunities:
Availability of Federal and State Tax Benefits for Energy-Efficiency Projects and Key Players are Focusing on Innovative Business Models in Energy-Efficient Building Technologies
Key Target Audience
Energy as a service Providers, Technology Providers, System Integrator, Government & Private Organisation and Others