Press release
Energy-as-a-Service Market Poised to Hit $129.41 Billion by 2029 with Accelerating Growth Trends
Energy-as-a-Service
Energy-as-a-Service Market Size Growth Forecast: What to Expect by 2025?
The market size of energy-as-a-service has experienced significant expansion in the past years. Its size is projected to increase from $72.53 billion in 2024 to $81.15 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.9%. The increase during the historic period is due to robust economic development in emerging markets, swift urban expansion, and increased digitalization.
How Will the Energy-as-a-Service Market Size Evolve and Grow by 2029?
The market size of energy-as-a-service is projected to experience a swift expansion in the forthcoming years, reaching $129.41 billion by 2029 with an annual compound growth rate of 12.4%. This surge during the forecast period can be linked to fast-paced industrialization, higher support from government bodies, a rise in distributed energy resources, and an escalating number of smart meters. The anticipated trends during this forecast period include a heightened focus on artificial intelligence, virtual power plants, battery energy storage, utilization of cloud technology, new subscription-based services, strategic alliances and partnerships, and increasing financial investments.
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What Drivers Are Propelling the Growth of Energy-as-a-Service Market Forward?
The increased usage of energy worldwide is predicted to stimulate the expansion of the energy-as-a-service market in the future. Energy consumption pertains to the energy expended in performing various actions. It's indispensable for a range of activities, including transportation, lighting, space cooling and heating, as well as agriculture, manufacturing and mining undertakings. For instance, DieselNet, an autonomous online information service out of Canada, documented in June 2024 that the worldwide primary energy consumption hit an unprecedented high in 2023, rising by 2% in comparison to 2022 to a total of 620 Exajoules (EJ). This rate of growth is notably above the decade prior's annual average of 1.5%. Consequently, the escalation in global energy consumption is propelling the surge in the energy-as-a-service market.
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Which Emerging Trends Are Transforming the Energy-as-a-Service Market in 2025?
Majestic firms in the energy-as-a-service market are turning their attention towards pioneering solutions like integrated energy management platforms. These are designed to offer consumers adaptable, economically efficient energy alternatives that bolster sustainability and streamline energy use. The amalgamation of community battery systems with energy retail arrangements grants customers the ability to tap into and use stored renewable energy. This results in cost reductions, elevates grid dependability, and encourages the adoption of eco-friendly energy sources. For example, in August 2024, Ausgrid, a company based in Australia that distributes electricity, unveiled an innovative energy storage-as-a-service (ESaaS) product in collaboration with Origin Energy and Energy Australia. The ESaaS product aspires to leverage the mounting interest in community BESS assets by supplying eligible customers with an energy retail scheme that allows them access to the stored energy.
What Are the Key Segments in the Energy-as-a-Service Market?
The energy-as-a-servicemarket covered in this report is segmented -
1) By Service: Energy Supply Services, Operation And Maintenance, Optimization And Efficiency Services
2) By Provider: Utility Service Provider, Third Party Provider
3) By End User: Residential, Commercial, Industrial
Subsegments:
1) By Energy Supply Services: Renewable Energy Supply, Grid Energy Supply, Distributed Energy Resources
2) By Operation And Maintenance: System Monitoring And Management, Preventive And Corrective Maintenance, Performance Reporting
3) By Optimization And Efficiency Services: Energy Audits, Demand Response Management, Energy Management Systems
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Who Are the Key Players Shaping the Energy-as-a-Service Market's Competitive Landscape?
Major companies operating in the energy-as-a-service market include Schneider Electric SE, Veolia Environment S.A., Engie SA, Enel S.p.A, Siemens AG,Honeywell International Inc., EDF, Bernhard Energy Solutions, AltaGas Ltd, Johnson Controls International PLC, China Shenhua Energy Company, Envision Energy, Mingyang, Gamesa, Shanghai Electric, CSSC, Suzlon Energy Limited, Adani Green Energy Limited, G3 Holdings and NTPC Limited, Centrica, E. ON UK., Npower, ScottishPower, CEZ, Contemporary Energy Solutions, Duke Energy, Edison International, General Electric Company, NextEra Energy, Green Mountain Energy, TPI Composites, Renewable Energy Group, Inc, Clearway Energy, First Solar Inc, PlanEt, Tesla, IOGEN Corporation, Bio-EnPower Inc, Ag-west Bio, Nulife Green Tech, Innergex/Alterra Power, Bullfrog Power, 3G Energy, KEPCO Energy Service Company, CFE, Pemex, Shell, Baker hughes, Tenaries, Moka Power, SOLARVIEW, FLEXIMETAL BRASIL, RVT Energia, Wiseful, GreenStudio Energy Efficiency, DS-Engenharia-Solar, Oika Tecnologia & Inovação, Yellow Door Energy, Enova, Alfanar Energy, Solar Africa, Rensource Distributed Energy Ltd, powergen renewable energy, Powerhive, Daystar Power, Juabar
What Geographic Markets Are Powering Growth in the Energy-as-a-Service Market?
North America was the largest region in the energy-as-a-service market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the energy-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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