Global Energy as a Service (EaaS) Market is valued at approximately USD 64.34 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.1% over the forecast period 2022-2029. Energy as a Service (EaaS) includes the sale of energy, technology, analytics, access to grid, as well as personalized services. The Energy as a Service (EaaS) Market is expanding because of factors such as the increasing adoption of renewables and increasing demand for energy in Various End-user Sectors.
Reducing greenhouse gas (GHG) emissions and the rising energy demand are the primary objectives of governing bodies in all countries. Following that, it is projected that the installation of renewable energy sources will increase dramatically over the next 10 years, leading to market expansion. The introduction of new energy targets by various governments to promote the trend towards sustainable electricity has had a favourable effect on market size. For instance, Brazil wants 42.5% of its primary energy supply to come from renewable sources by the end of 2023. Similar to this, according to the carbon brief analysis, the UK government intends to have about 50% of its electricity come from renewable sources by 2025. Thus, the rising demand for renewable energies is catering to the market growth. In addition, the introduction and expansion of the DEG and VPP market and favorable regulation framework is creating new opportunities for the market. However, heavy capital investment for establishment and switch to advanced grids may halt market growth.
The key regions considered for the Global Energy as a Service (EaaS) Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to rising investment in various renewable energy projects, and rising demand from end-use industry. Whereas Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising government initiatives for launching renewable energy projects, and rising investment in grid infrastructure development.
Major market player included in this report are:
Honeywell International Inc
General Electric company
WGL Holding Inc
Recent Developments in the Market:
In November 2021, Rolls-Royce and Sustainable Development Capital (SDCL), a significant international investor, announced to collaborate together to deliver Energy as a Service (EaaS) solutions that can speed up the adoption of greener energy.
In December 2021, Johnson Controls introduces OpenBlue Net Zero Buildings as a Service. With the launch, Johnson Controls will offer a one-stop shop with the launch for businesses wanting to meet net zero emissions and renewable energy goals.
Global Energy as a Service (EaaS) Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Service, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Service Typeofferings of key players. The detailed segments and sub-segment of the market are explained below.
By Service Type:
Energy Supply Service
Operational & Maintenance Service
Energy Optimization & Efficiency Service
By End User:
Rest of the World