Energy as a Service Market by Service Type (Generation, Operation & Maintenance, Optimization & Efficiency), End-User (Industrial Sector and Commercial Sector), and Region (North America, Europe, Asia Pacific, and RoW) - Global Forecast to 2023
“The Energy-as-a-Service (EaaS) market is projected to grow at a CAGR of 45.72% from 2018 to 2023.”
The EaaS market is projected to reach USD 7,336.1 million by 2023, from an estimated USD 1,116.5 million in 2018, at a CAGR of 45.72% from 2018 to 2023. This growth can be attributed to the rising energy consumption and price volatility and growing potential of renewable energy. Existing utility models and integration and deployment challenges can hinder the growth of the market.
“Energy efficiency & optimization segment is expected to dominate the EaaS market from 2018 to 2023.”
Energy efficiency & optimization segment is expected to hold the largest market share in 2018 and is estimated to be the fastest growing segment during the forecast period. The energy efficiency and optimization services help maximize the efficiency of a building’s existing energy consuming systems. Reduction of operation costs, improving energy efficiency, increasing speed of energy equipment, and optimizing energy supply are the major factors driving the demand for EaaS in energy efficiency & optimization segment.
“North America: The fastest growing market for EaaS”
North America is estimated to be the largest market for EaaS in 2018 and is projected to grow at the highest CAGR during the forecast period. Government standards such as ISO 50001, ISO 9001, and ISO 14001 are driving the growth of energy efficiency resource acquisition programs in North America. The US accounted for the largest share of the EaaS market in North America in 2017 and has the highest CAGR during the forecast period. Almost all the countries in the region are augmenting their generation capacities. Rising renewable energy projects and energy efficiency standards by governments are expected to drive the growth of the EaaS market in North America.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 12%, Tier 2- 31%, and Tier 3- 57%
By Designation: C-Level- 22%, D-Level- 78%
By Region: Asia Pacific- 25%, North America- 35%, Europe- 20%, Middle East & Africa- 8%, and South America- 12%
Note: The tier of the companies is defined on the basis of their total revenue as of 2016. Tier 1: >USD 10 billion, Tier 2: From USD 1 billion to USD 10 billion, and Tier 3:
The leading players in the EaaS market include GE (US), Siemens (Germany), Engie (France), Edison Energy (US), and EDF Energy (UK).
The report defines, describes, and forecasts the global EaaS market by service type, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the EaaS market.
Why Buy this Report?
1. The report identifies and addresses key markets for EaaS, which would help the market players review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.