Energy-as-a-Service Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - Energy & Power
Report Code - OMR-EP-137
Format: PDF, PPT, and Excel
Energy-as-a-Service Market to Have a Market Growth of 10.9% Over the Forecast, Rising Focus on Renewable Energy to Pump Revenue Towards the Market
An example of "energy as a service" (EaaS) is providing energy and management services to customers under a contract with no upfront costs. Similar to a software-as-a-service model, the client incurs costs only for the ongoing delivery of services. These services are tailored to each client's requirements to accomplish their desired outcomes, including lowering energy costs, increasing sustainability, or increasing profits.
As a result of the pandemic's aftermath, economic unrest erupted in several swiftly developing nations. The emergence of this global pandemic has immediately affected the EaaS industry. Numerous countries across the globe have experienced a significant decline in their commercial and industrial activity, resulting in a reduction in several vertical energy demands.
Key Takeaways of the Energy-as-a-Service Market
By Type
In 2022, the energy supply services sector will account for the highest share of the market. The expansion of the market segment is attributable to the rising number of consumers in each area. Customers can undertake energy and water efficiency initiatives with no initial capital outlay using a pay-for-performance, off-balance sheet financing option like energy optimization & efficiency-as-a-service.
By Region
During the projected period, North America, specifically the United States, is anticipated to have the highest demand for energy as a service. The country is notable for its extensive EaaS adoption. Several initiatives have been implemented in the region to increase energy storage efficacy and reduce operational costs, particularly in the commercial sector.
Rising Government Subsidiaries Will Exert Increased Market Revenue During Forecast
Given the rising energy demand and efforts to reduce the harmful effects of carbon emissions on the environment, the significance of renewable energy sources has increased. With the growing use of renewable energy sources, new decentralized energy distribution systems have acquired market traction. DEG technology utilizes all available energy sources to reduce the production burden and incorporates new power sources.
Supportive Regulatory Framework to Augment Market Value
Governments across the globe have set as their top priorities the reduction of greenhouse gas (GHG) emissions and the increase in energy consumption. Consequently, renewable energy installations are projected to increase considerably over the next decade, driving the market growth. New energy objectives announced by several governments have positively affected the growing prominence of renewable energy. Businesses, apartment complexes, and factories must have a constant energy supply to maintain the required output and personnel levels.
Global Energy-as-a-Service Market Prominent Players
• Veolia (France)
• General Electric Company (U.S.)
• Honeywell (U.S.)
• EDF Renewables North America (U.S.)
• SmartWatt, Inc (U.S.)
• Centrica (U.K.)
• Schneider Electric (France)
• Enel X (U.S.)
• ENGIE (France)
• WGL Energy (U.S.)
• Siemens (Germany)
Report Scope for Energy-as-a-Service Market
Type
• Energy Supply Services
• Operational and Maintenance Services
• Energy Efficiency & Optimization Services
End User
• Commercial
• Industrial
Energy-as-a- Service Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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