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Increasing preference towards decentralized power generation and reduction in costs of renewable power generation.
VANCOUVER, BC, CANADA, July 25, 2022 /EINPresswire.com/ -- The global Energy as a Service market size is expected to reach USD 127.63 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research.
Steady market revenue growth can be attributed to growing preference in the energy sector towards decentralized power generation. Rising need for energy production in a sustainable, cost-effective, and reliable manner is another major factor driving demand for decentralized energy and supporting revenue growth of the global energy as a service market. Empowerment of businesses, local consumers, and communities with the help of decentralized energy as the smaller power generation plants can be connected to the grid is boosting steady utilization of decentralized power distribution services.
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The power industry has been experiencing a shift towards distributed energy resources in order to overcome grid reliability issues, severe weather events, equipment failures, reduction in costs of distributed energy resources, among others are other key factors driving growth of the global energy as a service market. Rising need to improve energy supply is also increasing adoption of energy as a service model, which includes common distributed energy generation solutions such as combined heat and power, microturbines, solar PV, diesel, and natural gas gensets, and fuel cells.
The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Energy as a Service market.
Furthermore, the report provides details about the new players entering the market, and entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key players involved:
WGL Energy, ENGIE, Schneider Electric, Siemens, Johnson Controls, General Electric, EDF Renewables, Edison International, Alpiq, and Enel X.
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Key Highlights from the Report
In December 2020, STMicroelectronics entered into a partnership with Schneider Electric on carbon neutrality and co-development of energy -efficient solutions. Schneider Electric is expected to support STMicroelectronics to reduce its global environmental footprint.
Energy supply services segment accounted for largest revenue share in 2020. Increase in energy supply offerings, which consist of fossil fuels, renewable sources of energy, biofuels, and biomass, is boosting demand for energy supply services for more efficient energy supply.
Commercial segment revenue is expected to expand at a rapid CAGR during the forecast period. The energy as a service model is designed to aid private sector commercial building owners with technical expertise and details related to capital to implement energy efficiency projects, which is expected to drive its demand for deployment in commercial buildings.
Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Emergen Research has segmented the global Energy as a Service market on the basis of service type, end-use, and region:
Service type Outlook (Revenue, USD Billion; 2018–2028)
Operational and Maintenance Services
Energy Supply Services
Energy Efficiency and Optimization Services
End-use Outlook (Revenue, USD Billion; 2018–2028)
Industrial
Commercial
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Energy as a Service market?
What are the key product types and applications of the Energy as a Service industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Energy as a Service market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Energy as a Service Market by 2027?
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