The global energy as a service market size is expected to reach USD 172.9 billion by 2027, registering a 14.6% CAGR during the forecast period, according to a new report published by Grand View Research, Inc. Upsurge in energy supply along with rising awareness regarding the adoption of green energy sources has transformed the energy and power industry.
Rising volatility of crude oil prices is likely to positively influence the growth of the market for Energy as a Service (EaaS). Relaxation in the privatization and Foreign Direct Investment (FDI) norms is another significant factor enabling the market growth. Governments across the world are increasingly financing various energy projects, which in turn is projected to fuel the demand for energy and power plants in the forthcoming years.
Collective use of smart metering and smart grids are likely to aid for the superior management of energy and power services. Improved infrastructural amenities are also estimated to fuel the market expansion in the forthcoming years. Increasing expenditure on oil and gas is an additional factor likely to motivate the market growth over the forecast period.
Increasing investments in energy efficient projects sponsored by governing bodies will also encourage the market expansion. The diffusion of renewable energy sources is on the rise and will, fuel up the demand for energy. Rise in the adoption of Distributed Energy Resources (DER), various transformation in the transportation sector by electrification such as electric vehicles and sustainably improved emphasis on energy.
Asia Pacific is projected to witness a CAGR of over 17.2% from 2020 to 2027. The presence of a large enterprises customer base in the region is projected to bode well for the regional growth. Even if the energy as a service is a novel concept in Asia Pacific, energy is projected to be a notable element for the purpose of electricity generation with the exhaustion of fossil fuels.
The key market players include Schneider Electric; Engie; Siemens; Honeywell International Inc.; Veolia; Enel X S.r.l.; and EDF. Schneider Electric is a major player in automation and energy management. The company is inclined toward providing microgrids as services to commercial and governmental institutions. The company has signed several agreements in order to enhance the EaaS business model which is disturbing the space and thus aiding the consumers to accept the microgrids.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/energy-as-a-service-market
Further key findings from the report suggest:
Asia Pacific is projected to grow at a substantial rate throughout the forecast period. China is expected to account for the maximum share in the region
North America is a noteworthy regional market, with U.S. being the most important regional growth contributor
The commercial sector was valued at over USD 30 billion in 2019
Commercial building activities have distinctive energy requirements and energy as a servicemarkethelps owners by providing them a limited principal amount with some technical skillsets to that can be applied on various energy efficient projects
Some of the significant market participants are General Electric (GE); Siemens; Engie; Honeywell International Inc.; Veolia; Johnson Controls; and EDF
For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/energy-as-a-service-market/request/rs1
Grand View Research has segmented the energy as a service market on the basis of service, end user, and region:
Energy as a Service Services Outlook (Revenue, USD Billion, 2016 – 2027)
Energy as a Service End-user Outlook (Revenue, USD Billion, 2016 – 2027)
Energy as a Service Regional Outlook (Revenue, USD Billion, 2016 – 2027)
Central & South America
Middle East & Africa
Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/7108/ibb
Browse More Related Report:
Battery Energy Storage Systems Market Size, Share And Trends Analysis Report By Application (Telecommunication, Data Center, Medical, Industrial, Marine), By Battery Type, By Region, And Segment Forecasts, 2020 – 2027
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
Country: United States