Global Energy as a Service (EaaS) Market Insights Forecasts to 2033.

• The Global Energy as a Service (EaaS) Market Size was Valued at USD 75.60 Billion in 2023.
• The Market Size is Growing at a CAGR of 10.30% from 2023 to 2033.
• The Worldwide Energy as a Service (EaaS) Market Size is Expected to Reach USD 201.50 Billion by 2033.
• Europe is expected to Grow the fastest during the forecast period.

The Global Energy as a Service (EaaS) Market Size is Anticipated to Exceed USD 201.50 Billion by 2033, Growing at a CAGR of 10.30% from 2023 to 2033.

Market Overview

Global Energy as a Service refers to a business model that offers end-to-end energy solutions to consumers. The energy services include energy supply, energy efficiency measures, renewable energy integration, energy management systems, and demand response. Renewable energy sources, like solar and wind, are good examples of the “Energy as a Service” model. Decarbonization, electrification, urbanization, and digitalization are the four prevalent trends that encourage energy as a service model. Electronic devices such as photovoltaic solar cells show photovoltaic effects that generate electrical energy by consuming sunlight energy. The energy landscape is rapidly evolving, and businesses are seeking innovative solutions to meet their energy needs. Currently, available smart technologies enable the integration of various forms of renewable energy into the energy mix, thus favoring energy decarbonization efforts. This is considered to be a market opportunity for EaaS.   

Report Coverage

This research report categorizes the market for the Global Energy as a Service (EaaS) market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Energy as a Service (EaaS) market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Global Energy as a Service (EaaS) market.

Driving Factors

The governing bodies across the globe promoting sustainable power leads to a tremendous increase in the installation of renewable energy sources. Various countries set the target to make a renewable form of energy supply. The rising demand for energy sources in various sectors such as commercial and residential buildings, industries, automotive vehicles, and new charging stations is likely to expand the market growth. The rising adoption of energy and increasing installation of smart grid are driving the market. The introduction of electric vehicles and charging vehicles increasing the demand for Global Energy as a Service market. Decarbonization is promoting the process and elimination of fossil fuels as energy sources which are likely to increase market growth. The rising distribution of energy resources with new and low-cost technology rising in the market. For instance, a US-based company, SmartWatt, collaborated with Plumas Lake School to develop a roof-mounted solar PV system that provided 100% of the facilities’ total energy consumption and saved USD 180,000 in annual savings.

Restraining Factors

The high capital investment for production of energy is the major factor responsible for restraining the market. The deployment of sources such as restricted supply of raw material inputs, limitations on manufacturing capacity, competition for larger construction project management and equipment and limited trained workforce restraining the market. For instance, solar PV depends on amount of sunlight available and solar radiation, the deployment in the sunlight and solar radiation will threat to Global Energy as a Service providers.

Market Segmentation

The Global Energy as a Service (EaaS) Market share is classified into service type, components, and end-user.

• The energy supply service segment is expected to hold the largest share of the global energy as a service (EaaS) market during the forecast period.   

Based on the service type, the global energy as a service (EaaS) market is divided into energy supply service, operational & maintenance service, and energy optimization & efficiency service. Among these, the energy supply service segment is expected to hold the largest share of the Global Energy as a Service (EaaS) market during the forecast period. The increasing population is one of the factors for rising the market demand as the number of customers increases with the increasing population. Energy optimization & efficiency-as-a-service is a pay-for-performance, off-balance sheet financing solution that leads to the establishment of energy and water efficiency projects which is economical resulting in reduced operating expenses. Thus, these factors are expected to drive the market in the energy supply service segment.

• The service segment is expected to grow at the greatest pace in the global energy as a service (EaaS) market during the forecast period.

Based on the components, the global energy as a service (EaaS) market is divided into solutions, and services. Among these, the service segment is expected to grow at the greatest pace in the Global Energy as a Service (EaaS) market during the forecast period. The rising awareness about energy conservation towards the usage of renewable energy by government initiatives is likely to propel the market growth. The production of an energy portfolio combined with different energy sources promotes the market demand.

• The commercial segment is expected to grow at the fastest pace in the global energy as a service (EaaS) market during the forecast period.    

Based on the end-user, the global energy as a service (EaaS) market is divided into commercial and industrial. Among these, the commercial segment is expected to grow at the fastest pace in the Global Energy as a Service (EaaS) market during the forecast period. The significant number of commercial spaces and high electric consumption are likely to grow the market in the commercial segment. The establishment of healthcare, educational institutions, airports, data centers, and others propelling the market demand in this segment. The prices of the commercial sector are higher than in the industrial sector thus it helps to implement energy-efficiency projects with no capital expenditure and validate energy savings. 

Regional Segment Analysis of the Global Energy as a Service (EaaS) Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global energy as a service (EaaS) market over the predicted timeframe.

North America is anticipated to hold the largest share of the global energy as a service (EaaS) market over the predicted timeframe. The vigorous development of artificial intelligence (AI) and data analytics in the region is likely to expand the market. Additionally, the increasing demand for energy in the industrial and residential sectors will boost the Global Energy as a Service market in the region. The major operational transformations like decentralization, digitization, and decarbonization increase the utilization of energy in the region which is expected to drive the market growth in the region.

Europe is expected to grow at the fastest pace in the global energy as a service (EaaS) market during the forecast period. German Global Energy as a Service market held the largest market share, and the UK Global Energy as a Service market was the fastest growing market in the European region. The implementation of green energy solutions and critical installation of power generation technologies in the Europe region via the support of government and institutional political framework is likely to drive the market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global energy as a service (EaaS) along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Siemens AG
• Honeywell
• Edison International
• Schneider Electric SE
• Johnson Controls
• Duke Energy
• SmartWatt, Inc
• WGL Energy
• ENGIE
• EDF Renewables North America
• General Electric Company
• Enel X
• Edison International
• Orsted
• Bernhard Energy
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2023, Lithuanian renewables developer Green Genius packed up financing for an energy-as-a-service (EaaS) project that involved the installation of 6.5 MW of solar power and 6MWh of battery energy storage systems (BESS) for a Carlsberg A/S (CPH: CARL-B) brewery in Lithuania.

• In September 2023, Sunnova, a leading Global Energy as a Service (EaaS) provider signed $ 3.0 Billion loan guarantee agreement with the US department of Energy to expand clean energy access. This loan equates to a 90% guarantee of up to $3.3 billion of term loans, to support solar loans originated by Sunnova under a new solar loan channel named “Project Hestia.”

• In August 2023, Teva Pharmaceuticals Industries, a generic pharmaceutical company is working with Honeywell to help reduce energy consumption and carbon emissions at its Debrecen, Hungary, manufacturing facility.

• In March 2023, Honeywell, a partnering with Energy-as-a-Service provider, Redaptive, a San Francisco-based developer of a Data-as-a-Service metering platform that captures real-time energy use data in buildings thus helping building owners accelerate and scale efforts to reduce energy waste, optimize cost, increase resiliency, and meet sustainability goals.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Energy as a Service (EaaS) Market based on the below-mentioned segments: 

Global Energy as a Service (EaaS) Market, By Service Type

• Energy Supply Service
• Operational & Maintenance Service
• Energy Optimization & Efficiency Service

 Global Energy as a Service (EaaS) Market, By Components

• Solutions
• Services

 Global Energy as a Service (EaaS) Market, By End-user

• Commercial
• Industrial

 Global Energy as a Service (EaaS) Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa