Energy as a Service Market Share Expected to Reach $100.34 billion by 2030

The global energy as a service market share is expected to grow from estimated $51.88 billion in 2024 to $100.34 billion by 2030, at a CAGR of 11.6% during the forecast period.
The global Energy as a Service Market [https://www.marketsandmarkets.com/Market-Reports/energy-as-a-service-market-23172723.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=EAAS] is anticipated to grow from estimated USD 51.88 billion in 2024 to USD 100.34 billion by 2030, at a CAGR of 11.6% during the forecast period. Major forces driving the Energy as a Service Market include the increased need for energy efficiency, surging energy prices, and global trends toward carbon neutrality and sustainability. Business houses are adopting EaaS solutions in order to bring their energy usage under control and reduce operational cost as they work towards achieving compliance with regulatory mandates toward decarbonizing. Higher growth in the market can be seen through the faster integration of distributed energy resources, which are mainly solar, wind, and energy storage systems. Energy management technologies such as IoT, AI, and demand response systems also now allow real-time optimization and automation of energy. Subscription-based models with minimal upfront capital expenditures and encouraging government policies regarding renewable energy will also help boost the EaaS market significantly.

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By The Energy-Efficiency and Optimization Services segment

Energy efficiency and optimization services are becoming more robust due to the rising demand to monitor the energy costs and achieve proper energy efficiency compliance. Buildings across the world account for 30% of energy consumption and about 40% of CO2 emissions that have increased the demand for energy optimization solutions. The energy efficiency investments have risen to USD 600 billion in 2022, wherein control of the cost and efforts to overcome the sustainability dimension are becoming more crucial. In this scenario, with the emergence of the advanced technologies of IoT, AI, and machine learning, the scope has been created to monitor energy usage in real time, analytics in terms of predictability, and autonomous control abilities with increased optimisation capability.

The Industrial segment, by end user

Industrial is primarily represented by the manufacturing of automobiles, the chemical industries, the recycling industries, military, and others like steel manufacturing and paper & pulp. Energy use in the industrial sector encompasses a large area, from process and assembly to steam and cogeneration, from process heating and cooling to lighting, heating, and air-conditioning buildings. Renewable energy sources are used for 46% of global electricity generation, and wind and solar PV make up 30%. Solar PV will be the leading source in 2030, followed by wind, both of which pass hydropower. Industrial companies' electricity use makes up a major part of global CO2 emissions because it relies on fossil fuel-based power generation. The industry would account for about 44% of global electricity use. Energy-as-a-Service is increasingly becoming a model adopted by industries for optimal usage of energy, cost-effectiveness, and sustainability. Manufacturing facilities use EaaS to handle high energy demands through on-site solar installations, battery storage systems, and demand response programs.

Regional Analysis

Europe Energy as a Service Market size is projected to reach USD 28.99 billion by 2030, at a CAGR of 11.2% between 2024 and 2030. Energy services for heating, cooling, cooking, lighting, transport, and manufacturing are indispensable for society.Over the last two decades renewable energy in the EU has expanded greatly as a result of favorable policies and technological developments; following the significant decline in greenhouse gas emissions in 1990, these emissions have now been continually reducing. The 20% renewable target achieved by the EU in 2020, and in 2023, renewable sources were estimated to be taking 24.1% of the final energy use in the EU. The European region is in the midst of a transformative shift in its power sector, one that is more focused on energy security, solidarity, and trust as it diversifies energy sources and optimizes the use of energy at home. A fully integrated internal energy market is aimed to ensure the free flow of energy across the EU, promoting competition and providing the best energy prices. Energy efficiency measures focus on reducing pollution and greenhouse gas emissions while decreasing dependency on imported energy. The EaaS project has been funded by the European Union's Horizon 2020 research and innovation program. This project focuses on mainstreaming an innovative and disruptive business financing scheme and aims to increase and accelerate the adoption of energy efficient technologies by SMEs in the EU. The EaaS suggests a program that intends to establish and implement a new business model and financial structure that will enable and facilitate the market transition and adoption to the energy-efficient equipment-as-a-service.

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Key Players

The Energy as a Service Market is dominated by major players that have a wide regional presence. Some of the key players in the Energy as a Service Market are Johnson Controls (Ireland), Veolia (France), Schneider Electric (France), Ameresco (US), Siemens (Germany), EDF Energy (US), Edison International (US), GE Vernova (US), Honeywell International Inc. (US), Centrica plc (UK), Alpiq Holding AG (Switzerland), and Duke Energy Corporation (US) among others.

Schneider Electric

Schneider Electric is one of the leaders in digital transformation of energy management and automation. It specializes in industrial automation, energy management, digital automation, sustainability, innovation, digitalization, artificial intelligence, engineering, cybersecurity, renewables, digital supply chain, manufacturing, electrification, building management systems, power systems and services, microgrids, industrial software design and optimization, solar and energy storage, and software-centric automation & solutions. The company has geographical reach across North America, Europe, Asia, Middle East & Oceania, and Africa region.

Ameresco

Ameresco is a leading clean technology integrator with a comprehensive portfolio of energy efficiency and renewable energy supply solutions. It specializes in energy as a service, energy efficiency, renewable energy, energy information management, energy infrastructure management, energy supply management, energy savings performance contracts (ESPC), central plants, distributed generation, solar and power purchase agreements (PPA), microgrids and storage, EV infrastructure, sustainability advisory, renewable natural gas, and asset sustainability.

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