Energy As A Service Market Size, Share, Trends, Growth, Analysis, Research

Global Energy as a Service Market: Key Highlights

  • According to the new market research report Energy as a Service Market by Solution (Portfolio Advisory Services, Load Optimization and Management, Onsite Energy Supply, Offsite Energy Supply, Energy Efficiency and Building Optimization), by End Use Industry (Residential, Commercial, Industrial), by Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2019 to 2024”, the global Energy as a Service Market is estimated to reach USD 69.7 Billion by 2024 at a CAGR of around 10.4% during the review period.
  • Growing demand for energy efficiency as it help to reduce the effective price of the energy services a key factor driving the demand of Energy as a Service Market.
  • However, high initial capital cost remain a major restraining factor for the growth of the energy as a service market 

Energy As A Service Market

Global Energy as a Service Market: Key Market Dynamics

  • Inclination towards energy savings by increase the facility services with easy and rapid solution which may lead to increase the market demand in the projected period.
  • Customer hesitancy towards market as it customer not accept the new services will may lead to hamper the market growth
  • Growing investment in decentralized energy products and services will increase the flexibility with quality product and services which will lead to increase the market demand.
  • High initial cost may occur by the high price of the battery which may restrict the market growth in the projected period.

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Global Energy as a Service Market: Regional Overview

  • Asia-Pacific:

The region has witness to rapid growth in access to electricity which will lead enhance the market for the projected period. According to the United Nations Economic and Social Commission for Asia and the Pacific, the overall electrification rate in the region reached by 90.3% in 2014. In the forum held on 2018 give many benefits to work together for transition of energy in the region with stakeholder of the government as well as for private sector.

However, the countries in the region which the largest electricity access deficit are India, Pakistan, Indonesia, Myanmar and Bangladesh. In 2014, the region has the highest energy intensity in the world.

  • Europe

The region focus on better manage the energy consumption for the organization and public authorization. It help the European Union (EU) to obtain the energy efficiency by 20% by the end of 2020. According to the European Economic and Social Committee (EESC), the average annual transmission will be require for the decarbonisation between 2021 to 2025 projected to be 52% and 66% which will be more then ongoing scenarios. The factor which the region is investing upon will lead to increase the demand for the market.

Global Energy as a Service Market: Key Players Overview

  • Schneider Electric SE:

Schneider Electric SE is a multinational organization which provide software, hardware and services for energy management. It provides the solution for the data centers, building, and industries by its energy technologies, automation and software. Also it advance the features by cost cutting in entry and by encourage the organization to make progress with the energy and its goals. In 2017, the company transform energy services as well as receive a top rank in Navigant research.

  • WGL Holdings, Inc.:

WGL Holdings, Inc. is public utility holding company that sells and deliver natural gas and energy products. Globally, the company provides services of electricity, gas and associate energy and environment services. Moreover, the company announced the Resilient Energy Supply Node (RESNode) and Eaas to provide the security, grid independent electricity and flexibility in securing highly dependable, for the US Department of Defense. In 2017, the company and AltaGas Ltd had announce the approval of definitive agreement and the merger plan for WGL acquired by ALtasGas in the transaction of about USD 6.4 Billion.

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Rep Id : EP 024

Published : 2020-01-06