The global energy as a service market size is expected to reach USD 132.95 billion by 2030, according to a new study by Polaris Market Research. The report “Energy as a Service Market Share, Size, Trends, Industry Analysis Report, By Type (Energy Supply Services, Operational & Maintenance Services); By End-Use (Commercial, Industrial); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for energy as a service is due to rapid urbanization and an increase in the utilization of electrical appliances. Furthermore, the rising awareness about carbon emissions and strong demand for sustainable and cost-efficient energy sources is expected to drive the market.
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In addition, the rising energy demand, price fluctuations, and growing demand for renewable energy are also considerable factors influencing the market. Moreover, government support for using renewable energy sources owing to their cheaper cost, eco-friendly nature, and zero carbon emission is also boosting the market growth.
The COVID-19 pandemic had a negative impact on the demand for the market as many industrial, residential and commercial projects came to a standstill owing to global lockdowns and resulted in the reduction of vertical energy demands. Moreover, a steep decrease in government investment owing to the decreased intake of energy also hampered the market.
Energy as a Service Market Report Highlights
- The growing demand for energy supply services is due to the rising environmental concerns, energy rates, and consumer shift towards reliable energy is expected to drive the market.
- The commercial segment accounted for the highest revenue share in 2021 and is expected to continue its dominance owing to heavy consumption by industries under this segment, and the adoption of the commercial owner of efficient energy with no capital expenditure supports the market growth.
- North America is expected to dominate the market over the forecast period on account of several smart building and building automation suppliers. Increasing demand from the commercial to residential sector also boosts the market’s revenue.
- Major players operating in the industry include Ameresco, Bernhard Energy, Centrica Plc, Contemporary Energy Solutions, Duke Energy, EDF Energy, EDF Renewable, Edison Energy, Edison International, Enel Spa, Enel X, Enertika, ENGIE, Entegrity, General Electric Company, Honeywell International Inc., Johnson Controls.
Polaris Market Research has segmented the energy as a service market report based on type, end-use, and region:
Energy as a Service, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Energy Supply Services
- Operational & Maintenance Services
- Energy Efficiency & Optimization Services
Energy as a Service, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
Energy as a Service, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa