Energy Consulting Market Expansion Continues, with Forecast Valuation of $22.07 Billion by 2029

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How Large Will the Energy Consulting Market Size By 2025?
The size of the energy consulting market has seen a vigorous surge in the past few years. The market, valued at $17.72 billion in 2024, is predicted to expand to $18.7 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.6%. Factors such as the advent of renewable energy, issues related to energy security, energy liberalization and deregulation, environmental worries, and the surge in electricity have contributed to the growth experienced in the historic period.

How Big Is the Energy Consulting Market Size Expected to Grow by 2029?
The market size for energy consulting is anticipated to experience consistent expansions in the forthcoming years. It is predicted to reach $22.07 billion by 2029, with a compound annual growth rate (CAGR) of 4.2%. The growth projected during the forecast period is linked to elements like energy transition, decarbonization objectives, energy-as-a-service models, industrial revolution, and increased governmental regulations. Key trends for the forecast period involve inventive answers for energy efficiency, deployment of renewable energy, modernization of grid, intelligent grid systems, digitalization, along with carbon capture, utilization, and storage (CCUS).

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Which Key Market Drivers Powering Energy Consulting Market Expansion and Growth?
The growth of the energy consulting sector is anticipated to be fueled by the rising requirement for energy efficiency. Energy efficiency refers to the capacity of a system or device to convert input energy into valuable output, whilst minimizing waste. With increasing concerns over environmental sustainability, energy costs, and resource conservation, there is a growing demand for energy-efficient solutions among corporations, governments, and individuals aiming to reduce carbon emissions and energy usage. Energy efficiency consulting seeks to analyze and optimize energy usage in various facilities to lessen energy consumption and costs while enhancing the environmental footprint. For example, as per the International Energy Agency (IEA), an independent intergovernmental organization based in France, there was a significant 2% improvement in energy efficiency in 2022, anticipated to decrease to 1.3% in 2023. In addition, a 1.7% increase in energy demand in 2023, up from 1.3% in 2022, mainly contributes to the slower energy intensity improvement rate. Consequently, growing energy efficiency needs are contributing to the expansion of the energy consulting market.

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What Long-Term Trends Will Define the Future of the Energy Consulting Market?
Leading organizations in the energy consulting industry are focused on devising technologically advanced solutions like the power system analysis software to tackle power system modeling challenges. These solutions are critical for increasing the efficiency of electrical grids through management and analysis of intricate power flow, stability, and fault scenarios. For example, GE Vernova, a US-based energy consulting firm, introduced a new, reimagined Positive Sequence Load Flow Analysis (PSLF) software in July 2023. This offers clients a quicker, more effective method of modeling their power systems. Using PSLF software in energy consulting enables engineers to review transfer restrictions, carry out economic dispatch, simulate power transfer across transmission grids, and study power system conduct under differing circumstances. This updated PSLF software effortlessly integrates data and visuals on a platform prepared for future demands, while upholding the quick and robust algorithms that PSLF users depend on. The enhanced version includes superior data editing features, upgraded data visualization and analysis tools, and innovative drag-and-drop and one-line drawing abilities. It is based on the latest software technology platform, and GE's revamped PSLF ensures reliability while presenting new functionality for system planners and operators.

What Are the Emerging Segments in the Energy Consulting Market?
The energy consulting market covered in this report is segmented -

1) By Type: Reducing Energy Costs, Managing Risks
2) By Component: Solution, Services
3) By Deployment Model: On-Premise, Cloud, Hybrid
4) By Application: Large Enterprises, Small And Medium Enterprises (SMEs)
5) By Industry: Banking, Financial Services And Insurance (BFSI), Healthcare, Energy And Utility, Information Technology And Telecommunication, Retail And E-Commerce, Manufacturing, Government And Defense, Media And Entertainment, Other Industries,

Subsegments:
1) By Reducing Energy Costs: Energy Efficiency Audits, Renewable Energy Solutions, Energy Procurement Strategies, Energy Storage Systems, Demand Response Programs, Energy Consumption Monitoring And Management
2) By Managing Risks: Energy Price Hedging, Regulatory Compliance, Risk Assessment And Mitigation, Carbon Emissions Management, Supply Chain Risk Management, Disaster Recovery And Business Continuity Planning

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Who Are the Global Leaders in the Energy Consulting Market?
Major companies operating in the energy consulting market are accenture* plc, Schneider Electric SE, Arthur D. Little Inc., Tradition Energy, Stantec Inc., AFRY AB, Arup Group Limited, Ramboll Group, ICF International Inc., Enel X, Clearway Energy Group LLC, The ERM International Group Limited, Golder Associates, RPS Group PLC, NV5 Global Inc., ENGIE Impact, ISG Enterprise Energy Solutions, Conservice LLC, NUS Consulting, Antea Group, The Consultus International Group, E&C Energy Consulting, Energy Edge Consulting LLC, Facility Engineering Associates P.C., American Utility Management Inc., Verde Solutions LLC, Iconergy Ltd., 360 Energy Group

Which are the Top Profitable Regional Markets for the Energy Consulting Industry?
North America was the largest region in the energy consulting market in 2024. The regions covered in the energy consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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