Energy as a Service (EaaS) Market to Exhibit a CAGR of 9.9%

Pune, India, Jan 19, 2022 (GLOBE NEWSWIRE) – Global Energy as a service market size expected to arrive 124.10 billion USD by 2028, showing a compound annual growth rate of 9.9% over the forecast period. The increasing focus of governments on renewable energy sources will have an excellent impact on market growth, according to Fortune Business Insights™ in a report titled “Energy as a Service Market, 2021-2028.” The market size was 59.17 billion US dollars in 2020.

EaaS is a business model in which consumers pay for energy service and avoid investing capital up front. Rapid urbanization and industrialization lead to EaaS adoption. Moreover, concerns about the depletion of fossil fuels are likely to boost the development of the market. In addition, the increase in energy consumption is expected to enhance the progress of the industry.

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List of key players in the Energy as a Service (EaaS) market:

  • ABB (Switzerland)
  • Schneider Electric (France)
  • Siemens (Germany)
  • Angie (France)
  • Honeywell (USA)
  • Veolia (France)
  • Enel X (France)
  • Amersco (USA)
  • EDF (UK)
  • WGL Energy (US)
  • GE (US)
  • Ørsted (Denmark)
  • Centrica (UK)
  • Bernard (USA)
  • Johnson Controls (Ireland)

Scope and segmentation report

Report coverage details
prediction period From 2021 to 2028
Forecast period from 2021 to 2028 compound annual growth rate 9.9%
2028 Value Drop 124.10 billion US dollars
base year 2020
Market size in 2020 59.17 billion US dollars
Historical data about 2017 to 2019
number of pages 130
Sectors covered Service type, end user and geography
growth engines Increasing energy consumption to contribute to explosive growth
Increased renewable energy generation to drive growth in North America
Big companies focus on reducing maintenance costs to enhance market position

The impact of COVID-19:

The COVID-19 pandemic has had a severe impact on the energy industry. The market has seen a drop in price and demand all over the world. Due to COVID-19, large manufacturing industries are focusing on mission-critical, causing the installation of electronic components to stop. The energy industry is being driven by a number of important reasons, including high energy demand and energy price volatility. Due to the different manufacturing units, there is a sharp decline in power as a service market.

To learn more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/energy-as-a-service-market-101204

Market segments:

The market is categorized into power supply services, operation and maintenance services, improvement and efficiency services, and others on the basis of service type. The end user section is divided into industrial, commercial, and other. The commercial sector is estimated to hold the largest share in the global market, including educational institutions, healthcare industry, data centers, airports, banks, etc.

Geographically, the market has been analyzed across five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

the Energy as a Service underlined by the Service Market Report:

  • Unrivaled insights into all developments
  • Respected data about the leading players
  • Trends and Emerging Engines
  • Regional Analysis
  • recognizable improvement
  • Impact of COVID-19

driving factor:

Increasing energy consumption to contribute to explosive growth

As a result of increasing industrialization and urbanization, energy consumption is on the rise. It has become important to create renewable energy on a global scale to meet the increasing demand for energy and the depletion of fossil resources. Solar and wind power plants cover a wide geographical area. In 2018, global investment in renewable energy nearly tripled the combined coal and gas generation capacity.

Renewable energy will make up more than half of worldwide power generation by 2050, according to the Energy Information Administration (EIA). Global energy consumption is expected to rise with the increase in urbanization and population rates in the world.

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Regional Insights:

Increased renewable energy generation to drive growth in North America

Due to the growing need for smart buildings and building automation, the North American energy market share is expected to be the largest, with the region accounting for US$26.30 billion in 2020. The market is expanding due to increased demand for services such as providing energy and demand response solutions and implementing energy efficiency projects Because of the growing commercial industry. Furthermore, the market in this area is expected to be driven by an increasing percentage of renewable energy generation and energy efficiency initiatives. The EaaS market is booming in North America, thanks to increased standards, government efforts, and the growing number of smart cities, smart communities, and electric vehicles.

Competitive scene:

Big companies focus on reducing maintenance costs to enhance market position

The competitive environment of this market is shaped by technological developments aimed at reducing operating and maintenance costs and increasing operational efficiency. The increasing use of energy as a service by the utilities and commercial sectors to improve efficiency and reliability is a key driver driving the global market for ABB, Schneider Electric and Siemens, strengthening their market position.

recognizable improvement:

  • July 2021: Amerisco Inc., a leader in energy efficiency and renewable energy, has signed a long-term energy-as-a-service agreement with Northwestern University. The company will provide ongoing energy management and related services and identify and implement energy efficiency upgrades on campus.

Quick Buy – Energy as a Service (EaaS) Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101204

Main table of contents:

  • an introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • market dynamics
    • Market Drivers
    • market restrictions
    • Market Opportunities
  • the main ideas
    • Key emerging trends – for major countries
    • The latest technological advances
    • organizational landscape
    • Industry SWOT Analysis
    • Porter’s Five Forces Analysis
  • Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the Energy as a Service (EaaS) Market
    • Steps the government has taken to counteract the impact
    • Key developments by industry players in response to COVID-19
    • Potential opportunities and challenges due to the COVID-19 outbreak
  • Global Energy as a Service (EaaS) Market Analysis (US$ Billion), Insights and Forecast, 2017-2028
    • Main results / summary
    • Market analysis, insights and forecasts – by service type
      • power supply service
      • Operation and maintenance service
      • Energy Service, Optimization & Efficiency
    • Market analysis, insights and forecasts – by the end user
    • Market Analysis, Insights & Forecasts – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin america
      • Middle East and Africa
  • North America Energy as a Service (EaaS) Market Analysis (US$ Billion), Insights and Forecasts, 2017-2028
    • Main results / summary
    • Market analysis, insights and forecasts – by service type
      • power supply service
      • Operation and maintenance service
      • Energy Service, Optimization & Efficiency
    • Market analysis, insights and forecasts – by the end user
    • Market Analysis, Insights and Forecasts – By Country
      • US market analysis, insights and forecasts – by end user
      • Canadian market analysis, insights and forecasts – by end user
  • Europe Energy as a Service (EaaS) Market Analysis (US$ Billion), Insights and Forecasts, 2017-2028
    • Main results / summary
    • Market analysis, insights and forecasts – by service type
      • power supply service
      • Operation and maintenance service
      • Energy Service, Optimization & Efficiency
    • Market analysis, insights and forecasts – by the end user
    • Market Analysis, Insights and Forecasts – By Country
      • UK market analysis, insights and forecasts – by the end user
      • German market analysis, insights and forecasts – by the end user
      • French market analysis, insights and forecasts – by the end user
      • Italy market analysis, insights and forecasts – by the end user
      • Market analysis, insights and forecasts in Spain – by the end user
      • Russia market analysis, insights and forecasts – by end user
      • Rest of Europe market analysis, insights and forecasts – by the end user

Check out the table of contents…!

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