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Energy as a Service Global Market Report 2024

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    Report

  • 200 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5939246
The energy as a service market size has grown rapidly in recent years. It will grow from $64.93 billion in 2023 to $73.17 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth observed in the historical period can be attributed to the adoption of renewable energy, energy efficiency initiatives, regulatory support, the integration of smart building and IoT technologies, cost reduction, and budget optimization, driven by the demand for sustainability.

The energy as a service market size is expected to see rapid growth in the next few years. It will grow to $116.26 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The anticipated growth in the forecast period can be attributed to the increasing complexity in energy management, the rise of decentralized energy systems, energy resilience and security, the global expansion of Energy as a Service (EaaS) models, and the integration of data analytics and artificial intelligence (AI). Major trends in the forecast period include integration with blockchain technology, technological advancements, decentralized energy systems, data analytics, and predictive maintenance, as well as demand response integration.

The anticipated surge in renewable energy generation is expected to drive the expansion of the energy-as-a-service market in the foreseeable future. Renewable energy refers to energy derived from naturally replenishing but flow-limited sources that are essentially infinite in length but limited in the energy accessible per unit of time. The utilization of renewable energy is on the rise, contributing to the growth of the energy-as-a-service market. For instance, in September 2022, as per reports published by the Energy Information Administration, a U.S.-based government agency, during the first half of 2022, 24% of electricity generation in the United States originated from renewable sources. This marked an increase from 21% recorded for the same period in the previous year. Consequently, the escalating demand for increased renewable energy generation is a key driver propelling the growth of the energy-as-a-service market.

The energy-as-a-service market is poised for growth, driven by changing consumer preferences and a shift towards sustainable and efficient energy solutions. Sustainable and efficient energy solutions involve the use of environmentally friendly technologies and practices to responsibly meet energy needs. The dynamic energy-as-a-service market is instrumental in shaping consumer preferences by offering accessible, customizable, and eco-friendly energy options, contributing to the broader adoption of sustainable and efficient energy solutions. For instance, data from the International Energy Agency, a France-based intergovernmental organization, indicates a significant shift in consumer preferences in 2022. The global adoption of sustainable energy solutions continued to rise, with renewables accounting for approximately 30% of the electricity mix. This trend is expected to gain momentum, reaching nearly 50% by 2030. It reflects an increasing demand for clean energy technologies and a noticeable transition away from fossil fuels. In this context, the evolving preferences and trends towards sustainable and efficient energy solutions play a crucial role in propelling the growth of the energy-as-a-service market.

Partnerships and agreements have emerged as significant trends in the energy-as-a-service market, with companies actively collaborating to meet consumer demand and drive sustainability initiatives. A notable example is the agreement signed in August 2021 between the Engie Group and Google LLC, a US-based multinational technology company. This collaboration aims to provide carbon-free electricity in Germany, contributing to Google's ambitious goal of achieving carbon-free energy across its data centers, cloud regions, and offices globally by 2030. Under this agreement, Engie will curate and manage an energy portfolio, supplying Google with renewable energy from solar and wind sources. The objective is to ensure that approximately 80% of Google's activities in Germany are carbon-free by 2022. Engie SA, a France-based utility company, plays a key role in facilitating this transition by operating in various fields such as energy transition, electricity generation, distribution, natural gas, nuclear, renewable energy, and petroleum. This example illustrates how partnerships and agreements are instrumental in advancing sustainability goals and fostering collaboration within the energy-as-a-service market.

Major players in the energy-as-a-service market are strategically focusing on product launches to enhance their offerings. A notable example is the introduction of the Renewable Energy Digital suite, designed to optimize the performance and operations of renewable assets, including onshore and offshore wind, hydro, and other renewable energy technologies. This comprehensive digital solution, exemplified by General Electric's Lifespan launched in May 2022, aims to elevate the management, performance, and maintenance of renewable energy assets through real-time control, deep insights, and technology-agnostic capabilities. The Lifespan suite from General Electric offers a range of features tailored for the energy-as-a-service market. These features include real-time command and control, deep insights into fleet and site performance, condition-based maintenance, an integrated user experience, efficient data management, and technology-agnostic solutions. By incorporating these features, the suite enhances the efficiency of managing renewable energy assets, contributing to the energy-as-a-service market by enabling more effective, data-driven, and integrated management practices. This, in turn, ensures the delivery of reliable and sustainable energy services.

In July 2021, OY Nofar Energy, an Israel-based energy company, successfully acquired Blue Sky Utility for a deal amounting to $91 million. This strategic acquisition served as Nofar's entry into the US market, aligning with the company's overarching goal to broaden its operations and establish a presence in new markets. Blue Sky Utility, the acquired entity, is a US-based company with expertise in developing renewable energy solutions tailored for retail real estate landlords and tenants.

Major companies operating in the energy as a service market report are Enel S.p.A., Robert Bosch GmbH, Engie SA, Siemens AG, General Electric Company, United Technologies Corporation, 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., Legrand Group, Emerson Climate Technologies India Pvt. Ltd., EDF Renewable Energy, Ameresco Inc., WGL Energy, ABB India Ltd., Bernhard LLC, SmartWatt Energy Inc., Entegrity Partners LLC, Enertika Inc., Contemporary Energy Solutions LLC, Spark Community Investment Co., Solarus Energy Inc.

North America was the largest region in the energy as a service market in 2023. Middle East and Africa are expected to be the fastest-growing regions in the energy as a service market during 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. The countries covered in the energy as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Energy as a Service primarily consists of solutions and services. Energy supply services play a key role in delivering various forms of energy, including fuels, electricity, and thermal energy, from suppliers to end consumers. These services encompass supply, demand, and energy optimization, catering to a diverse range of end users such as commercial enterprises and industries.

The energy as a service market research report is one of a series of new reports that provides energy as a service market statistics, including energy as a service industry global market size, regional shares, competitors with an energy as a service market share, detailed energy as a service market segments, market trends and opportunities, and any further data you may need to thrive in the energy as a service industry. This energy as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The energy as a service market includes revenues earned by entities by providing cloud-based energy services and solutions to monitor and manage energy requirements based on real-data collections and also procuring, storing, and producing energy solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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Table of Contents

1. Executive Summary2. Energy as a Service Market Characteristics3. Energy as a Service Market Trends and Strategies
4. Energy as a Service Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Energy as a Service Market Size and Growth
5.1. Global Energy as a Service Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Energy as a Service Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Energy as a Service Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Energy as a Service Market Segmentation
6.1. Global Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Solutions
  • Services
6.2. Global Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Commercial
  • Industrial
7. Energy as a Service Market Regional and Country Analysis
7.1. Global Energy as a Service Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Energy as a Service Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Energy as a Service Market
8.1. Asia-Pacific Energy as a Service Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Energy as a Service Market
9.1. China Energy as a Service Market Overview
9.2. China Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Energy as a Service Market
10.1. India Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Energy as a Service Market
11.1. Japan Energy as a Service Market Overview
11.2. Japan Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Energy as a Service Market
12.1. Australia Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Energy as a Service Market
13.1. Indonesia Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Energy as a Service Market
14.1. South Korea Energy as a Service Market Overview
14.2. South Korea Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Energy as a Service Market
15.1. Western Europe Energy as a Service Market Overview
15.2. Western Europe Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Energy as a Service Market
16.1. UK Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Energy as a Service Market
17.1. Germany Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Energy as a Service Market
18.1. France Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Energy as a Service Market
19.1. Italy Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Energy as a Service Market
20.1. Spain Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Energy as a Service Market
21.1. Eastern Europe Energy as a Service Market Overview
21.2. Eastern Europe Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Energy as a Service Market
22.1. Russia Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Energy as a Service Market
23.1. North America Energy as a Service Market Overview
23.2. North America Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Energy as a Service Market
24.1. USA Energy as a Service Market Overview
24.2. USA Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Energy as a Service Market
25.1. Canada Energy as a Service Market Overview
25.2. Canada Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Energy as a Service Market
26.1. South America Energy as a Service Market Overview
26.2. South America Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Energy as a Service Market
27.1. Brazil Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Energy as a Service Market
28.1. Middle East Energy as a Service Market Overview
28.2. Middle East Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Energy as a Service Market
29.1. Africa Energy as a Service Market Overview
29.2. Africa Energy as a Service Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Energy as a Service Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Energy as a Service Market Competitive Landscape and Company Profiles
30.1. Energy as a Service Market Competitive Landscape
30.2. Energy as a Service Market Company Profiles
30.2.1. Enel S.p.A.
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. Robert Bosch GmbH
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Engie SA
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. Siemens AG
30.2.4.1. Overview
30.2.4.2. Products and Services
30.2.4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. General Electric Company
30.2.5.1. Overview
30.2.5.2. Products and Services
30.2.5.3. Strategy
30.2.5.4. Financial Performance
31. Energy as a Service Market Other Major and Innovative Companies
31.1. United Technologies Corporation
31.2. Veolia Environment S.A.
31.3. Mitsubishi Electric Corporation
31.4. Schneider Electric SE
31.5. Honeywell International Inc.
31.6. Centrica plc
31.7. Duke Energy Corporation
31.8. Johnson Controls International plc
31.9. Eaton Corporation
31.10. Edison International
31.11. Alpiq Holding SA
31.12. Tetra Tech Inc.
31.13. Legrand Group
31.14. Emerson Climate Technologies India Pvt. Ltd.
31.15. EDF Renewable Energy
32. Global Energy as a Service Market Competitive Benchmarking33. Global Energy as a Service Market Competitive Dashboard34. Key Mergers and Acquisitions in the Energy as a Service Market
35. Energy as a Service Market Future Outlook and Potential Analysis
35.1 Energy as a Service Market in 2028 - Countries Offering Most New Opportunities
35.2 Energy as a Service Market in 2028 - Segments Offering Most New Opportunities
35.3 Energy as a Service Market in 2028 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Energy as a Service Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on energy as a service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for energy as a service? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Component: Solutions; Services
2) By End-user: Commercial; Industrial

Key Companies Mentioned: Enel S.p.A.; Robert Bosch GmbH; Engie SA; Siemens AG; General Electric Company

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned

  • Enel S.p.A.
  • Robert Bosch GmbH
  • Engie SA
  • Siemens AG
  • General Electric Company
  • United Technologies Corporation
  • 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.
  • Legrand Group
  • Emerson Climate Technologies India Pvt. Ltd.
  • EDF Renewable Energy
  • Ameresco Inc.
  • WGL Energy
  • ABB India Ltd.
  • Bernhard LLC
  • SmartWatt Energy Inc.
  • Entegrity Partners LLC
  • Enertika Inc.
  • Contemporary Energy Solutions LLC
  • Spark Community Investment Co.
  • Solarus Energy Inc.

Methodology

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