Energy as a Service Global Market Report 2023

NEW YORK, March 13, 2023 /PRNewswire/ -- Major players in the energy as a service market are Schneider Electric SE, Engie SA, Siemens AG, Honeywell International Inc., Veolia Environnement S.A, Enel X, EDF Renewable Energy, Johnson Controls International, Bernhard Energy, Edison Energy, SmartWatt, Entegrity , Enertika, Ameresco, Centrica, Ameresco, Duke Energy Corporation , Solarus, Spark Community Investment Co, and Contemporary Energy Solutions.

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The global energy as a service market grew from $57.32 billion in 2022 to $64.28 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The energy as a service market is expected to grow to $100.17 billion in 2027 at a CAGR of 11.7%.

The energy as a service 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 energy as a service market consists of sales of energy as a service solutions and services by entities (organizations, sole traders, and partnerships) that are used for the management of energy usage to deliver the desired energy service.Energy-as-a-service (EaaS) is a business concept in which clients pay for energy services without having to spend any money upfront.

EaaS models often take the form of a subscription for a service company's electrical devices or energy usage management to supply the desired energy service.

North America was the largest region in the energy as a service market in 2022.Middle East and Africa are expected to be the fastest-growing regions in 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 and Africa.

The main types of energy as a service are solutions and services.Energy supply services are used to deliver energy such as fuels, electricity, and thermal energy that suppliers can deliver to end consumers.

It includes service such as supply, demand, and energy optimization, that include different end users such as commercials and industries.

The increase in renewable energy generation is expected to propel the growth of the energy as a service market going forward.Renewable energy is energy generated from naturally renewing but flow-limited sources that are essentially infinite in length but limited in energy accessible per unit of time.

The usage of renewable energy is increasing, and this will increase the energy as a service market.For instance, according to the International Energy Agency, a France-based intergovernmental organization, the share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019.

Also, renewable electricity generation in 2021 increased by more than 8% to reach 8,300 TWh. Therefore, the rising demand for an increase in renewable energy generation drives the energy as a service market.

Partnerships and agreements among companies are key trends gaining popularity in the energy as a service market.The companies operating in the energy as a service market are undergoing partnerships and agreements to meet consumer demand.

For instance, in August 2021, the Engie group signed an agreement with Google LLC, a US-based multinational technology company, to provide carbon-free electricity in Germany.The agreement will help Google meet its carbon-free energy goals for its data centers, cloud regions, and offices throughout the world by 2030.

Engie will assemble and negotiate an energy portfolio to supply Google with renewable energy (solar and wind) to ensure that all of its German activities are approximately 80 percent carbon-free by 2022.Engie SA is a France-based utility company that operates in the fields of the energy transition, electricity generation, distribution, natural gas, nuclear, renewable energy, and petroleum.

Also, in August 2020, Schneider Electric partnered with Huck Capital to deliver energy-as-a-service, enabling commercial buildings to easily convert to renewable energy. The partnership provides a unique approach for building owners and operators that wish to migrate to renewable energy to reduce emissions, boost resiliency, and lower costs without investing in renewable energy assets or relying on specialists to operate the microgrid. Schneider Electric is a France-based company that provides energy and automation digital solutions.

In July 2021, OY Nofar Energy, an Israel-based energy company, acquired Blue Sky Utility for a deal amount of $91 million.Through this acquisition, Nofar would represent its entry into the US market, and the company's goal is to expand its operations into new markets.

Blue Sky Utility is a US-based company that specializes in developing renewable energy solutions for retail real estate landlords and tenants.

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.

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.

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.

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