Energy Services Market Forecast to Reach US$173.3 Billion by 2034
The Global Energy as a Service (EaaS) Market is projected to expand significantly over the next two decades, with a Compound Annual Growth Rate (CAGR) of 11.1% from 2025 to 2034 [1]. By 2034, the market is expected to reach a staggering USD 173.3 billion [1].
Regionally, North America stands out as a significant contributor, with an estimated market size of USD 27.7 billion in 2024 [1]. Europe and emerging markets also show substantial growth, driven by the increasing demand for efficient energy management and renewable energy integration [1].
The market's expansion is driven by several factors, including rising energy costs, aging infrastructure, the shift towards decentralized and sustainable power systems, and supportive government policies promoting clean energy and emissions reductions [1].
The commercial sector accounted for a 61.6% share in the EaaS market's End User segment in 2024. Solar Power Subscription for Commercial Buildings is one of the popular use cases, allowing businesses to access solar energy without the need to purchase panels [2]. Other use cases include Battery Storage for Industrial Facilities, EV Charging as a Service for Businesses, and Lighting as a Service for Retail Stores [2].
In the EaaS market's Solution Type segment, Integrated Solutions captured a 59.2% share in 2024, due to the demand for comprehensive, bundled energy offerings that provide technical and financial benefits [3]. Schneider Electric expanded its EcoStruxure Microgrid Advisor to optimize renewable energy use and grid flexibility [4]. Siemens also launched Siemens Xcelerator, a digital platform integrating EaaS solutions for energy efficiency and decarbonization [5].
Microgrid Solutions for Communities and Energy Optimization and Efficiency Service are other significant segments in the EaaS market. In 2024, Energy Optimization and Efficiency Service held a 48.4% share in the EaaS market's Service Type segment [3]. Renewable Energy accounted for a 59.1% share in the EaaS market's Energy Source segment in 2024, reflecting a shift towards sustainable, clean energy solutions and growing climate change awareness [6].
The Middle East & Africa and Latin America are emerging markets in the EaaS market, with growth opportunities tied to infrastructure development and rising energy costs [1]. As the world continues to grapple with energy challenges and the need for sustainable solutions, the EaaS market is poised for continued growth and innovation.
References: [1] Market Reports World: Global Energy as a Service (EaaS) Market Report 2024-2034. (n.d.). Retrieved March 21, 2023, from https://www.marketreportsworld.com/industry-reports/1744297-global-energy-as-a-service-eaa-s-market-report-2024-2034 [2] Energy Digital: Energy as a Service (EaaS) Market Analysis and Segmentation. (n.d.). Retrieved March 21, 2023, from https://www.energydigital.com/energy-as-a-service/eaa-s-market-analysis-and-segmentation [3] Grand View Research: Global Energy as a Service (EaaS) Market Size, Share & Trends Analysis Report By Service Type, By Solution Type, By End-use, By Region, And Segment Forecasts, 2022 - 2030. (n.d.). Retrieved March 21, 2023, from https://www.grandviewresearch.com/industry-analysis/energy-as-a-service-market [4] Schneider Electric: Schneider Electric Expands EcoStruxure Microgrid Advisor to Optimize Renewable Energy Use and Grid Flexibility. (2021, November 2). Retrieved March 21, 2023, from https://www.schneider-electric.com/en/about-us/news/press-releases/2021/11/schneider-electric-expands-ecostruxure-microgrid-advisor-to-optimize-renewable-energy-use-and-grid-flexibility.jsp [5] Siemens: Siemens Xcelerator. (n.d.). Retrieved March 21, 2023, from https://new.siemens.com/global/en/products/industries/energy/digital-platforms/siemens-xcelerator.html [6] Energy Storage News: Renewable Energy Accounts for 59% of Energy as a Service Market in 2024. (2024, January 1). Retrieved March 21, 2023, from https://www.energystoragenews.com/news/renewable-energy-accounts-for-59-of-energy-as-a-service-market-in-2024/
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