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2021
Energy As A Service Market

Energy as a Service Market by Type (Energy Supply Services, Maintenance & Operation, Energy Efficiency & Optimization and Others), End User (Industrial and Commercial): Global Opportunity Analysis and Industry Forecast, 2021–2030

A06878
Pages: 204
Dec 2021 | 4308 Views
Author(s) : Mohd Arbaz , Eswara Prasad
Tables: 115
Charts: 66
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COVID-19

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Energy as a Service (EAAS) Market Analysis - 2021

The global energy as a service market size was valued at $54.4 billion 2020, and is projected to reach $112.7 billion by 2030, growing at a CAGR of 7.6% from 2021 to 2030. Energy as a service is a swiftly growing and newly developed model that offers various energy related services and provides energy optimization solutions across small, medium and large businesses. It also increases awareness toward better management and increased installation of distributed generation sources. Energy as a service is used in different service types and detailed overview on these segments is given in the market study. The EAAS market provides detailed information on the end use segment that include commercial and industrial.

Electricity demand dropped to lower levels under lockdown, with dramatic reductions in services and IT industries and partial offset by higher residential use.

The growth of the global energy as a service market is driven by various factors that include rise in efforts by building owners to reduce energy cost of buildings, increase in renewable energy generation, rise in energy efficiency activities, rise in renewable energy adoption, and increase in smart grid installations On the contrary, owing to transition from traditional energy model to EaaS model by key players is anticipated to provide lucrative growth opportunities and maintain position in the market during the forecast period. 

Energy-as-a-Service-Market-2021-2030

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The energy as a service market is segmented into service, end user, and region. Depending on service type, the market is bifurcated into energy supply services, operation & maintenance, and energy efficiency & optimization. The end users covered in the study include commercial and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global market covers in-depth information of the major energy as a service industry participant. Some of the major players in the market include Veolia, Honeywell International Inc., EDF Renewables, and Enel X

Other players operating in the value chain of the global energy as a service market are Schneider   Electric SE, Engie SA, Johnson Controls International, WGL Energy, Alpiq, General Electricnd and others.

The key players are adopting numerous strategies such as product launch, agreement, partnership, acquisition, and business expansion to stay competitive in the energy as a service market.

For instance, in June 2021, Honeywell and Alturas announced collaborative effort to deploy battery energy storage systems to customers globally. In this partnership Alturus will provide dedicated capital and structuring for Honeywell’s renewables & distributed assets projects

In addition, In June 2021, Honeywell launches Battery Energy storage systems platform to help users forecast and optimize energy costs. This product launch will expand the product portfolio of the company in the battery storage for grid stability and energy resource management.

The energy as a service market is analyzed and estimated in accordance with impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021–2030. The report includes study of the market with respect to growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

Energy as a service market, by service type

On the basis of service type, the energy supply services segment registered highest CAGR during the forecast period. This is attributed to increase in electric driven heavy manufacturing and transportation equipment are major factor that drive electric consumption, which propels demand for energy supply services.

Energy as a Service Market
By Service

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Energy Supply Services is projected to create abundant $ opportunity till 2030

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Energy as a service market, by end use

On the basis of end use, the commercial segment dominated the global market in 2020, in terms of share. This is attributed to increase in demand for electricity from commercial applications such as restaurants, educational institutes, data centers, commercial complexes, and warehouses.  In addition, rise in demand for optimization of energy consumption to reduce energy bills and to support sustainable environmental growth, which, in turn, is expected to drive growth of the market from 2021 to 2030.

Energy as a Service Market
By End Use

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Commercial segment is projected as the most lucrative segment.

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Energy as a service market, by region

Asia-Pacific has the highest share in the energy as a service market in 2020, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to presence of key players and huge consumer base in the region. Furthermore, energy as a service is gaining importance, owing to increase in transformation across the energy industry including digitization, decarbonization, and rapid growth in distribution generation services, which is expected to augment growth of the energy as a service (EAAS) market during the forecast period.

Energy as a Service Market
By Region

2030
Asia-pacific 
North America
Euope
Lamea

Asia-Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

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COVID-19 impact on the market

  • The outbreak of COVID-19 pandemic had led to partial or complete shutdown of production facilities, which do not come under essential goods, owing to prolonged lockdown in major countries such as the U.S., China, Japan, India, and Germany.
  • Electricity demand dropped to lower levels under lockdown, with dramatic reductions in services and IT industries and partial offset by higher residential use.
  • In June and July, the electricity demands, corrected itself by 10% and 5%, respectively, below the 2019 level of the same month in most countries except India, where the recovery was more pronounced. 
  • EaaS projects offer energy efficiency as well as cost saving for long term. However, high capital investments in initial stages have led many companies to reduce such investments.
  • Companies are already struggling to keep up with fixed costs and trying to survive the impact from COVID-19, any commitment to such huge capital investment is either put off, cancelled, or delayed. Thus, the impact on the EaaS market is high.

Key Benefits For Stakeholders

  • Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
  • The report provides an extensive qualitative and quantitative analysis of the current energy as a service market and a comprehensive analysis of the factors that drive and restrict the growth of the global energy as a 
  • service market is provided.
  • Estimations and forecast are based on factors impacting the global energy as a service market growth, in terms of value.
  • Key market players are profiled to gain an understanding of the strategies adopted by them. 
  • A detailed analysis of the current global energy as a service market trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.

Key Market Segments & Key Market Players

Segments Sub-segments
By service type
  • Energy supply services
  • Maintenance & operation
  • Energy efficiency & optimization

By end user
  • Industrial
  • Commercial

By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

 

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This section provides opinions of top-level CXOs operating in the energy as a service market. According to the insights of CXOs, the market is consolidated in nature, and is expected to grow at a significant rate during the forecast period. This is attributed to rise in awareness toward benefits of EaaS projects such as increased energy efficiency  and  government  subsidies.  Moreover,  increase  in  distributed  energy  resources,  decreasing  cost  of renewable  power  generation,  and  storage  solutions  also  contributes  toward  the  market  growth.  However, information barriers and high technological costs involved in EaaS projects discourages the market growth. The market  growth  for  EaaS  is  expected  to  grow  at  a  notable  pace  as  many  governments  are  working  on  action plans with targets to achieve energy efficiency and contribute toward environment-friendly methods in quest to reduce carbon footprint. This section provides opinions of top-level CXOs operating in the energy as a service market. According to the insights of CXOs, the market is consolidated in nature, and is expected to grow at a significant rate during the forecast period. This is attributed to rise in awareness toward benefits of EaaS projects such as increased energy efficiency  and  government  subsidies.  Moreover,  increase  in  distributed  energy  resources,  decreasing  cost  of renewable  power  generation,  and  storage  solutions  also  contributes  toward  the  market  growth.  However, information barriers and high technological costs involved in EaaS projects discourages the market growth. The market  growth  for  EaaS  is  expected  to  grow  at  a  notable  pace  as  many  governments  are  working  on  action plans with targets to achieve energy efficiency and contribute toward environment-friendly methods in quest to reduce carbon footprint.

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FREQUENTLY ASKED QUESTIONS?

A. Energy, Commercial, Residential, and Agriculture are the potential customers of Energy as a Service industry.

A. Partnership and agreement are the key growth strategy for Energy as a Service Market player in order to attract the end users.

A. To get latest version of Energy as a Service market report can be obtained on demand from the website.

A. Asia-Pacific will provide more business opportunities for Energy as a Service in future.

A. Akrema Group, Advanced Nanotech Lab, Diamon-Fusion International Inc., Fenzi SpA, Koninklijke DSM N.V, Nanoman, Nanopool GmbH, PPG Industries Inc., Unelko Corporation, and 3M.

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. Commercial segment holds the maximum share of the Energy as a Service Market.

A. Increase in surge in applications with widespread usage of solar energy as an alternative for conventional power generation and the support policies and the investment of the government and private organisations to promote solar energy are the driving factors and opportunities in the Energy as a Service Market.

A. Increase in demand for power due to increase in innovation of extensive power consuming electronic products led to the development of solar energy and this current trend expected to influence the Energy as a Service Market in the next few years.

A. Rise in demand for electricity from commercial applications such as restaurants, educational institutes, data centers, commercial complexes, and warehouses.

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