Dublin, March 30, 2022 (GLOBE NEWSWIRE) -- The "Energy-as-a-Service - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Energy-as-a-Service Market to Reach $80.6 Billion by 2026
The global market for Energy-as-a-Service estimated at US$49.6 Billion in the year 2020, is projected to reach a revised size of US$80.6 Billion by 2026, growing at a CAGR of 8.6% over the analysis period.
Energy Supply, one of the segments analyzed in the report, is projected to record a 7.7% CAGR and reach US$37.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Operation & Maintenance segment is readjusted to a revised 9% CAGR for the next 7-year period.
For businesses, EaaS represents a smart option ensuring enhanced operational efficiencies along with increased cash flow coming from savings on energy & maintenance costs. The businesses have a significantly lowered risk of spending continuously on underperforming assets. EaaS partners/ consultants provide technology, analytics, and personalized services enabling users maximize savings on their energy expenditure.
Analysis provided by EaaS consultants includes measurement of power consumption by all electrical equipment a business uses, including HVAC units, compressors, pumps, elevator motors etc, by deploying cutting edge technologies like AI, MI, IoT and smart meters. These technologies enable collection of granular level information in the real time, which indicates what savings could be achieved through optimal consumption of energy. Businesses also need not spend on energy efficient infrastructure.
This is another major advantage with the EaaS model. The smart metering technology followed by the EaaS model makes energy consumption more transparent. Businesses which both consume and produce energy, called prosumers, can also leverage the model for producing more excess energy and monetizing that surplus. So far, the EaaS model was capable of achieving up to 25% energy savings for businesses. More energy efficiency improvements are likely to emerge in the years ahead, as the service providers start using enhanced technologies and practices
The U.S. Market is Estimated at $21 Billion in 2021, While China is Forecast to Reach $8.4 Billion by 2026
The Energy-as-a-Service market in the U.S. is estimated at US$21 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.4 Billion by the year 2026 trailing a CAGR of 9% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 7.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.2% CAGR.
The market is driven by many factors including rise in DER (distributed energy resources), attractive tax benefits from governments for energy efficiency projects, new streams of revenue generation for utilities and generation, and renewable power and storage solutions becoming more affordable among others.
Across the world, focus is increasing on developing renewable energy faster because of the many benefits it offers including lower generation costs, reduced footprint and increased energy efficiency. Such an increased focus on renewable energy is anticipated to contribute significantly to EaaS market growth. Increasing energy consumption also constitutes a prominent factor driving market growth.
Organizations seeking energy sources that are sustainable are expected to influence market growth in a positive manner in the years ahead. In developed markets such as the US and Canada there are already regulatory standards and policies promoting increased EaaS adoption. However, in developing countries, the concept is still nascent.
The need for reducing energy costs of building is one of the most important growth drivers for the EaaS market. Electricity consumption in residential, industrial and commercial buildings makes up for more than 60 percent of overall energy consumed, at the global level. Owners of those buildings therefore are seeking means for reducing cost of electricity and EaaS which promises to decrease energy consumption considerably is anticipated to witness high future growth.
Also, renewable energy generation and consumption is increasing in countries across the world, both developing and developed. Depletion of traditional fossil fuel resources, increasing environmental concerns with conventional power generation and growing burden of fuel commodities imports on countries have been the factors driving consumption of renewable energy. Many governments are also now more focused on energy resource diversification for ensuring energy security.
Relying on just one or a few sources can be detrimental to energy security of a nation. This also provides major growth opportunity for EaaS providers. Nonetheless, the nascent EaaS market faces many challenges, more in the areas of execution. Also, the concept of EaaS is yet to take shape in emerging country markets.
However, in emerging countries where consumption of energy is fast increasing, EaaS has great potential to impact how energy is generated as well as consumed in the future, which would contribute significantly to future growth of the market.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- COVID-19 Causes Unprecedented Damage to Global Energy Sector
- A World in the Midst of a Pandemic Throws Energy Demand into Crisis & Leaves Energy Investments in Shambles: Percentage Share of Energy Use Impacted by Lockdowns
- Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
- Industrial Activity Remains Subdued, Inducing Temporary Weakness into EaaS Market
- An Introduction to Energy-as-a-Service (EaaS)
- Energy-as-a-Service: Objectives
- Key Drivers Propelling the EaaS Market
- Energy-as-a-Service: Heralding a New Era of Efficient, Green Electricity Generation
- Energy-as-a-Service: Achievements, Limitations and Future Possibilities
- Energy Suppy - The Largest Service Segment
- Rise in Energy Needs Propels EaaS in Commercial Sector
- Regional Market Analysis: Developed Regions Reign Supreme
- What Increased Competition Could do to Overall Energy Costs for End-users?
- EaaS Market Space Witnessing Ingress of New Entrants - Tech Giants and Startups
- Recent Market Activity
- Select Innovations & Advancements
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022
2. FOCUS ON SELECT PLAYERS (Total 33 Featured)
- Alpiq
- Bernhard Energy Solutions
- Centrica Business Solutions
- EDF Renewable Energy
- Edison Energy, LLC
- Enel X
- Enertika
- Engie
- Entegrity
- General Electric
- Honeywell International Inc
- Johnson Controls International plc
- Noresco
- Orsted A/S
- Schneider Electric
- Siemens AG
- Veolia Environnement S.A
- Wendel Energy Services
3. MARKET TRENDS & DRIVERS
- Energy-as-a-Service, Potential Model for Energy and Cost Savings, Conjures Up Disruptions in Delivery and Consumption Patterns
- Going Beyond Commoditization
- Embracing the Service Model
- Energy-as-a-Service Model Allows Clients to Tap Assets with Minimal Investment
- EaaS Emerges as the Next Big Outsourcing Trend
- EaaS Solutions allow Manufacturing Companies Resume Operations Easily Post Lockdowns
- EaaS Model Ensures Sustained Affordability for Commercial Sector
- Energy Utilities Bet on Energy-as-a-Service to Prevent Collapse and Stay Relevant
- Companies Eye EaaS to Optimize Energy Usage
- Energy-as-a-Service Paradigm for Micro-Grid Hosts
- Growing Trend towards Green/LEED Buildings Offer Lucrative Opportunities
- Smart Grids Elevate the Prospects for EaaS
- Growing Investments on Smart Cities Fuel EaaS Market
- Number of Smart Cities Worldwide by Geographic Region (2025E)
- Increased Opportunity in Renewable Energy Space
- Solar-as-a-Service to Promote Renewable Energy
- Demographic and Urbanization Trends Aid Market Growth
- Key Considerations in Overcoming Constraints and Challenges
- Resilience: Innovative Approaches to Existing Challenges
- Sustainability Challenges
4. GLOBAL MARKET PERSPECTIVE
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/nw8f0j
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