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A service for energy industry professionals · Friday, October 7, 2022 · 594,669,123 Articles · 3+ Million Readers

The Energy As A Service Market Is Expected To Reach $89 Billion By 2026, Driven By The Rising Demand For Renewable Energy As Per The Business Research Company's Energy As A Service Global Market Report 2022

TBRC’s market research report covers energy as a service market size, energy as a service market forecasts, major energy as a service companies and their market share, key strategies to undertake, and more.

/EIN News/ -- LONDON, Aug. 10, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the energy as a service market, the increase in renewable energy generation is expected to propel the growth of the energy as a service market going forward. Renewable energy is energy generated from naturally renewing but flow-limited sources that are essentially infinite in length but limited in energy accessible per unit of time. The use of renewable energy is increasing, and this will increase the energy as a service market. For instance, according to the International Energy Agency, a France-based intergovernmental organization, the share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019. In addition, renewable electricity generation is expected to increase by more than 8% in 2021, reaching 8,300 TWh. Therefore, the rising demand for an increase in renewable energy generation drives the energy as a service market.

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The global energy as a service market size is expected to grow from $50.04 billion in 2021 to $57.14 billion in 2022 at a compound annual growth rate (CAGR) of 14.2%. The global energy as a service market growth is expected to reach $89.22 billion in 2026 at a CAGR of 11.8%.

The companies operating in the energy as a service market are undergoing partnerships and agreements to meet consumer demand. For instance, in August 2021, the Engie group signed an agreement with Google LLC, a US-based multinational technology company, to provide carbon-free electricity in Germany. The agreement will help Google meet its carbon-free energy goals for its data centers, cloud regions, and offices throughout the world by 2030. Engie will assemble and negotiate an energy portfolio to supply Google with renewable energy (solar and wind) to ensure that all of its German activities are approximately 80 percent carbon-free by 2022. Engie SA is a France-based utility company that operates in the fields of the energy transition; electricity generation; distribution; natural gas; nuclear power; renewable energy; and petroleum. Also, in August 2020, Schneider Electric partnered with Huck Capital to deliver energy-as-a-service, enabling commercial buildings to easily convert to renewable energy. The partnership provides a unique approach for building owners and operators that wish to migrate to renewable energy to reduce emissions, boost resiliency, and lower costs without investing in renewable energy assets or relying on specialists to operate the microgrid. Schneider Electric is a France-based company that provides energy and automation digital solutions.

Major players in the energy as a service market are Schneider Electric SE, Engie SA, Siemens AG, Honeywell International Inc., Veolia Environnement S.A, Enel X, EDF Renewable Energy, Johnson Controls International, Bernhard Energy, Edison Energy, SmartWatt, Entegrity, Enertika, Ameresco, Centrica, Ameresco, Duke Energy Corporation, Solarus, Spark Community Investment Co, and Contemporary Energy Solutions.

The global energy as a service market is segmented by component into solutions, services; by end-user into commercial, industrial.

North America was the largest region in the energy as a service market in 2021. The Middle East and Africa are expected to be the fastest-growing regions in the global energy as a service market during the forecast period. The regions covered in the global energy as a service industry outlook are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Energy As A Service Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide energy as a service market overviews, energy as a service market analyze and forecast market size and growth for the whole market, energy as a service market segments and geographies, energy as a service market trends, energy as a service market drivers, energy as a service market restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.

The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

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The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

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