Forecast: Energy as a Service Market to Grow at 10.3% CAGR Over the Next five Years
In 2023, the US GSA Administrator announced over USD40 million in funds to boost the building’s efficiency in the Texas and Louisiana region. The investments are estimated to save about USD 1.4 million per year at today’s energy prices and reduce emissions by about 6,000 metric tons per year.
According to MarkNtel Advisors study, The Global Energy as a Service Market size was valued at around USD 70 billion in 2022 & is projected to grow at a CAGR of about 10.3% during the forecast period, i.e., 2024-30.
The deployment of renewable energy sources includes various technical & feasibility considerations which have emerged as restraining factors for the market growth. Some capacity constraints, such as limitations on manufacturing capacity, restricted & limited supplies of basic raw materials, and limited skilled workforce, have been depriving the market growth. Despite having strong operational capabilities, major players in the market have been facing challenges in the execution of energy-as-a-service projects.
Moreover, several advanced & emerging technologies, such as monitoring platforms & connected devices need constant communication to achieve the target of energy cost savings. Furthermore, land acquisition & environmental clearances have also posed a threat to the execution of certain large-scale projects globally, further limiting the growth of the Global Energy as a Service Market.
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Key Findings in Energy as a Service Market:
| Historical Years | 2019-2022 |
| Base Years | 2023 |
| Forecast Years | 2024-2030 |
| Key Report Highlights | · Market Dimensions & Projections· Pricing Evaluation,· Recent Strategic Moves by Companies,· Primary Stakeholders,· Analysis of Import and Export Trends,· Competitive Landscape Assessment,· Emerging Opportunities,· Market Trends and Indicators |
| Reports Delivery Format | Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address. |
Energy as a Service Market Key Players:
Engie, Enel X, Schneider Electric, Ameresco, Siemens, General Electric, Honeywell, Johnson Controls, EDF Renewable Energy, Edison, Alpiq, Veolia, Orsted, Centrica, WGL Energy, Others
Market Segmentation Overview:
By Type
-Energy Supply Services
-Operational and Maintenance Services
-Energy Efficiency and Optimization Services
The Operational & Maintenance Services holds the prominent market share & is expected to grow at a considerable rate during the forecast period as well. This is owing to the rising government initiatives to promote renewable energy, together with the requirement for cost control & energy conservation. Moreover, consumers are searching for a reliable energy source without a grid due to rising energy prices. This element is projected to accelerate the segment’s growth shortly.
Demand response management is an essential component of operational & maintenance services, which schedules the operation of appliances to save energy expenditures by considering both, client convenience & electric equipment. Further, by transferring some demand from peak to off-peak demand periods, the approach also improves the stability of electrical networks and lowers consumers’ power costs. As a result, industrial facilities are increasingly utilizing operational & maintenance services, further leading to the enhancement of the Global Energy as a Service Market size.
By End Users
-Residential
-Commercial
-Industrial
-Public Infrastructure
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By Region
North America
South America
Europe
The Middle East & Africa
Asia-Pacific
The Energy as a Service Industry Recent Development:
2023: Capstone Green Energy Corporation signed an Energy as a Service contract with Lone Star Power Solutions, a Texas-based energy company. Capstone would provide a C800S Signature series microturbine to Lone Star.
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