Portland, OR, Sept. 28, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Electric Services Companies (ESCOs) market was estimated at $25.2 billion in 2020 and is expected to hit $49.6 billion by 2030, registering a CAGR of 6.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increasing awareness and knowledge regarding ESCO benefits drive the growth of the global Electric Services Companies (ESCOs) Market. On the other hand, high initial costs associated with the services impede the growth to some extent. However, rise in technical skills among human resources is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- A lot of mid-sized and small sized organizations across the world happened to divert funds toward survival & fixed costs, especially during the initial phase of the pandemic, thereby impacting the Electric Services Companies (ESCOs) Market negatively.
- However, the global situation is getting better at a slow and steady pace, and the market is projected to revive soon.
Get detailed COVID-19 impact analysis on the Electric Services Companies (ESCOs) Market Request Here
The global Electric Services Companies (ESCOs) market is analyzed across customer type and region. By customer type, the commercial segment accounted for nearly three-fifths of the total market revenue in 2020, and is anticipated to retain its dominance by 2030. The industrial segment, on the other hand, would grow at the fastest CAGR of 6.6% from 2021 to 2030.
Based on region, the market across Asia-Pacific contributed to the major share in 2020, holding more around three-fifths of the global Electric Services Companies (ESCOs) market. North America, however, would cite the fastest CAGR of 6.7% from 2021 to 2030. Other provinces studied in the report include LAMEA and Europe.
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The key market players analyzed in the global Electric Services Companies (ESCOs) market report include General Electric, Siemens, Schneider Electric, Honeywell, Johnson Controls, Veolia, Orsted, Eaton Corporation, Alpiq, and Enel X. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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