Report ID: 10154296 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Energy as a Service (EaaS) Market Scope
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 63.o Billion |
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Forecast Year Market Size (2033) |
~ USD 120.0 Billion |
Global Energy as a Service (EaaS) Market Highlights Over 2023 - 2033
The global energy as a service (EaaS) market is estimated to garner a revenue of USD 120.0 Billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 63.0 Billion in the year 2022. The growth of the market can be attributed to rising energy consumption. For instance, there has been an increased in the energy consumption in China, the United States, and Russia by more than 5 percent, 4 percent, and 9 percent in the year 2021.
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Energy-as-a-service (EaaS) refers to a business model in which customers pay for energy services without making any initial capital investment. EaaS models typically take the form of a subscription for a service company's electrical devices or energy usage management to deliver the desired energy service. The EaaS model has benefited consumers by promoting advanced technology, as well as its potential for increasing the deployment of low-carbon technologies. Hence, the growing need for the reduction of carbon dioxide is expected to drive the growth of the global energy as a service (EaaS) market. For instance, there has been a rise in carbon dioxide emissions from industry and fossil fuels accounting for more than 35 Billion metric tons in the year 2019.
Global Energy as a Service (EaaS) Market: Growth Drivers and Challenges
Growth Drivers
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Increasing Smart Grid Installations –There have been increasing smart grid installations across the globe that is anticipated to rise the growth of the global energy as a service (EaaS) market. According to the U.S Energy Information Administration, there have been nearly 102.9 Million advanced smart meter infrastructure installations in the year 2020 by the U.S. electric utilities.
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Surging Potential of Renewable Resources– More than 30 percent of the electricity across the globe generates from renewables including wind, solar, and hydropower.
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Increase in Price Volatility – According to the World Bank, the world’s bank energy price index has increased by 26.3 percent between January and April 2022
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Rising Demand for Sustainable Energy Sources – The share of renewables in global electricity generation has raised from 27 percent in 2019 to 29 percent in 2020.
Challenges
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High Cost for the Deployment of Infrastructure
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Complexity in Getting Real-Time Information for Energy as a Service Model
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Lack of Awareness Among the Organizations
The global energy as a service (EaaS) market is segmented and analyzed for demand and supply by end-user into industrial, and commercial. Out of these, the commercial segment is anticipated to hold the largest share over the forecast period owing to the surge in the demand for energy consumption among commercial areas such as data centers, restaurants, and others. According to the U.S. Energy Information Administration, 28 percent of the total U.S. energy consumption in the year 2021 accounted for transporting goods and people from one place to another.
Global Energy as a Service (EaaS) Market Regional Synopsis
Regionally, the global energy as a service (EaaS) market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033 on the back of high dependence on cheaper, increasing energy as a service trend, and reliable energy.
The market in the Asia Pacific region is expected to witness the fastest growth over the forecast period owing to the rising inclination towards digitalization, and the rising need for the reduction of carbon dioxide. For instance, In the year 2020, China released more than 10 Billion metric tons of carbon dioxide emissions.
Market Segmentation
Our in-depth analysis of the global energy as a service (EaaS) market includes the following segments:
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By End User |
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By Service Type |
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Key Companies Dominating the Global Energy as a Service (EaaS) Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global energy as a service (EaaS) market that are included in our report are Schneider Electric, Enel Spa, Centrica plc, Honeywell International Inc., Veolia Environnement SA, Bernhard, General Electric, WGL Holdings, Inc., ENGIE Group, Johnson Controls, and others.
Global Energy as a Service (EaaS) Market: Latest Developments
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November, 2021: General Electric, announced plans to transform its three public companies focused on growth sectors of aviation, healthcare, and energy.
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December, 2021: Schneider Electric, and Temasek announced the launch of GreeNext which provides sustainable and resilient energy solutions to industrial and commercial customers through battery and solar hybrid microgrid technology.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by end user, service type, and by region.
The commercial segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Why Choose Kenneth Research ?
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Insight with Impact : We don’t just gather data — we uncover stories, trends, and opportunities that fuel business growth.
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Report ID: 10154296 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
