Press release
Emerging Trends Fueling Growth in the Energy as a Service Market: Swift Expansion Forecasted at a CAGR of 12.5% till 2029
Emerging Trends Fueling Growth
Discover how advancements such as renewable energy adoption, energy efficiency initiatives, and smart building integration are driving the rapid expansion of the global energy as a service market.
What Is The Projected Market Size Of The Global Energy as a Service Market And Its Growth Rate?
• Globally, the energy as a service market is projected to expand from $72.53 billion in 2024 to $81.46 billion in 2025, growing at a 12.3% CAGR.
• Factors contributing to this growth include renewable energy adoption, energy efficiency initiatives, regulatory support, and smart building and IoT integration.
• The market is expected to further surge to $130.57 billion in 2029, at an impressive CAGR of 12.5%, driven by increasing complexity in energy management, rise of decentralized energy systems, and the integration of data analytics and AI.
What Is Driving The Growth In The Energy as a Service Market?
Increased renewable energy generation is a key player driving the energy as a service market's momentum. Renewable energy sources, constantly replenished and essentially infinite in supply, have witnessed a surge in usage. For example, reports from the Energy Information Administration in September 2022 showed that during the first half of the year, 24% of US electricity generation came from renewable sources, a gain of 3% over the same period in the prior year. This escalating demand for renewable energy is paving the path for the energy as a service market's growth.
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Who Are the Key Players Driving Energy as a Service Market Growth?
Major companies operating in the energy as a service market include:
• Enel S.p.A.
• Engie SA
• Siemens AG
• General Electric Company
• Veolia Environnement S.A.
• Mitsubishi Electric Corporation
• Schneider Electric SE
• Honeywell International Inc.
• Centrica plc
• Duke Energy Corporation
• Johnson Controls International plc
• Eaton Corporation
• Edison International
• Alpiq Holding SA
• Tetra Tech Inc.
• EDF Renewable Energy
• Ameresco Inc.
• WGL Energy
• ABB India Ltd.
• Bernhard LLC
• SmartWatt Energy Inc.
• Entegrity Partners LLC
• Enertika Inc.
• Contemporary Energy Solutions LLC
• Solarus Energy Inc.
What Are The Key Trends In The Energy as a Service Market?
Emerging trends in the energy as a service market include:
• Integration with blockchain technology
• Technological advancements
• Decentralized energy systems
• Data analytics and predictive maintenance
• Demand response integration
What Are The Segments Of The Global Energy as a Service Market?
The energy as a service market is segmented by:
• Component: Solutions and Services
• End-User: Commercial and Industrial
Which Region Leads The Energy as a Service Market?
In 2024, North America held the top position in the energy as a service market, with the Middle East and Africa anticipated as the fastest-growing regions in the forecast period. Overall, the energy as a service market spans geographies including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Energy as a Service Market Global Market Report?
- Market Size Analysis: Analyze the Energy as a Service Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Energy as a Service Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Energy as a Service Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Energy as a Service Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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