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
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 as a Service, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Energy as a Service, Regional Outlook (Revenue - USD Billion, 2018 - 2030)