Energy as a Service (EAAS) is a business model in which a third–party company provides energy services, such as energy efficiency, renewable energy, storage, and demand response, to customers. It is a new form of energy delivery that allows customers to purchase energy services, such as energy efficiency, renewable energy, and demand response, without having to own or manage the underlying energy systems themselves. The third–party company typically owns, manages, and maintains the energy systems, freeing the customer from having to do so. The customer pays a fee or subscription for the energy services provided. This business model is becoming increasingly popular as it helps to reduce energy costs and facilitate the adoption of renewable energy and energy efficiency measures.
According to Market Research Future (MRFR)’s latest analysis, the global energy as a service (EaaS) market is expected to exhibit significant growth in the forthcoming years. The global requirement for energy has witnessed an upswing over the years which has necessitated the adoption of measures to ensure efficient use of power. This, in turn, has catapulted energy as a service market on an upward trajectory.
Energy as a Service (EAAS) Market is estimated to register a note worthy CAGR of 9.20% will reach up to 128.3 Billion by 2030.
The increasing demand for energy has led to the shift towards the generation of renewable energy. Governments all across the world have started the establishment of renewable energy projects for keeping the supply up with the demand. This is poised to influence the expansion of energy as a service market positively. Furthermore, the volatility of the prices of energy has expedited the proliferation of the market, and the trend is projected to perpetuate in the foreseeable future.
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Energy as a service helps in different ways, such as optimization of energy systems, improvement of working environments, etc. This serves as a motivation for the industrialists for implementing EaaS solutions. Additionally, the energy as a service assures a reduction in the operating expenses while increasing profits, which is expected to be a driving factor of market growth in the upcoming years.
The endeavors directed towards the reduction of carbon footprints by the governments coupled with mandates enforced for assuring energy efficiency are set to revolutionize the growth trajectory of the market. Nevertheless, challenges related to implementation remain an impediment to the market proliferation.
Global Market for Energy as a Service (EaaS) – Segmental Analysis:
MRFR’s report offers an in-depth segmental analysis of the global energy as a service (EaaS) market based on service type and application. By service type, the energy as a service (EaaS) market has been segmented into generation, operation & maintenance, and energy efficiency & optimization. By application, the global market is segmented into industrial and commercial.
Regional Outlook:
By region, the global energy as a service market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is a significant market for energy as a service and is likely to witness increasing adoption of the service in the foreseeable future. The consolidation of established industries in the region has intensified the need for energy efficiency and optimized energy costs, which is poised to drive the growth of the market in the region.
Governments have rolled out law enforcement for the adoption of energy efficient measures which has opened new avenues of growth for the market players. The presence of key players in the U.S. is likely to make it an important country-level market of the region. Furthermore, the shift towards renewable energy coupled with increased energy consumption is prognosticated to have a favorable impact on the expansion of the regional market.
Europe is a vital growth pocket and is likely to resonate promising opportunities over the next couple of years. The large-scale generation of renewable energy is likely to fuel demand for energy as a service in the region. Additionally, the developed industrial sector of the region is anticipated to catalyze the growth of the market in the forthcoming years.
Asia Pacific is expected to accrue a substantial amount of revenue in the upcoming years. The exponential population, rapid urbanization & industrialization, and increasing renewable energy projects are likely to accelerate the revenue creation for the market participants.
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Global Market for Energy as a Service (EaaS) – Competitive Dashboard:
Some of the key players operating in the market are Siemens (Germany), Edison Energy (US), Contemporary Energy Solutions (US), Enertika (Spain), Bernhard Energy (US), GE (US), WGL Energy (US), EDF Energy (UK), Solarus (Netherlands), Engie (France), and Enel X (Italy).
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