Energy As A Service Market by Service Type (Generation, Operation & Maintenance, and Energy Efficiency & Optimization) and by End-User (Industrial and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2024

Global energy as a service market expected to generate revenue of around USD 12,179 million by 2024, growing at a CAGR of around 43.75% between 2018 and 2024. The rapid adoption of renewable energy sources, such as solar, tidal, and wind, is expected to foster energy as a service market expansion in the upcoming years.

30-Nov-2018 | Number of pages: 110 | Report Code: ZMR-3576 | Report Format : | Status : Published

Analysis

Energy as a service can be best described as the effective and efficient utilization of energy. As per the first law of thermodynamics, energy can neither be created nor destroyed. It can only be channeled for its proper utilization. An energy service when designed should be able to attain some energy efficiency improvements when compared to the previous energy utilization level, while meeting other criteria, such as comfort level, production throughput, safety, etc. Production throughput can be considered as an important criterion followed by safety measures to cater to the needs of energy services. Energy services comprise of energy supply contracting, energy performance contracting, energy consultants (audits and others), energy management systems, project design and maintenance, and performance monitoring. These are some of the well-known energy services offered by various energy service providers in the energy as a service market.

Energy as a service market is set to witness a considerable rate of growth over the coming years, owing to the effective utilization of energy services in developed and developing countries. The rising demand for renewable energy is likely to propel this market. The demand for solar, tidal, and wind energies in developing countries for smart building and infrastructure activities is likely to fuel the energy as a service market in the upcoming years. Additionally, business organizations have effectively managed their energy usage patterns in recent times. Manufacturers and other industrial OEM firms are consistently monitoring cooling and heating performance of their energy equipment with the help of smart sensors that can designate breakdowns or malfunctions, antedate and avert instabilities, and notify when major maintenance is required. Manufacturers and owners of commercial building infrastructures are significantly installing energy monitors to measure the energy variations in consumption and forecast future energy necessities and requirements. These are some factors likely to help the market grow in the upcoming years. 

Global Energy As A Service Market

By service type, the energy as a service market is segmented into operation and maintenance, generation, and energy efficiency and optimization. By end-user, the market is bifurcated into commercial and industrial sectors.

North American region is likely to witness the highest growth in the global energy as a service market in the forecast timeframe. This regional market growth can be attributed to various government standards, such as ISO 9001, ISO 14001, and ISO 50001, that is driving the expansion of energy service efficiency programs across the region. Moreover, the launch of new energy projects by the government and public organizations is anticipated to further drive the industry growth in the region over the forecast time period. The Asia Pacific is predicted to contribute a substantial revenue share to the global energy as a service market. The cost-effective pricing of rooftop solar PV for their implementation in smart buildings and infrastructures for conserving energy and cutting energy costs are mainly likely to drive the energy as a service market globally during the forecast timeframe.

Some players involved in the global energy as a service market include General Electric, Siemens AG, WGL Energy, Engie, Contemporary Energy Solutions, Solarus, Bernhard Energy, EDF Energy, SmartWatt, and Edison Energy.


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