Energy as a service market industry is anticipated to increase from USD 83409.7 million in 2024 to USD 210923 million by 2032

The Energy as a Service Market is projected to grow from USD 83409.7 million in 2024 to USD 210923 million by 2032, exhibiting a compound annual growth rate (CAGR) of 12.30% during the forecast period (2024 - 2032). Additionally, the market size for energy as a service was valued at USD 74127 million in 2023.

The market CAGR for the energy as a service industry is driven by the expanding use of energy as a service (EASS). The advent of electric vehicles and the electrification of existing vehicles will significantly alter the transportation industry. Regular charging is required to operate electric automobiles. The market for energy as a service is expected to have significant demand during the forecast period due to the growing popularity of electric vehicles and the rising energy costs associated with charging them. The manufacturers' current emphasis on using environmentally friendly energy is another element that will contribute to the market for energy as a service becoming inflated.

Another important driver for the expansion of the market for energy as a service is decarbonization. Fossil fuels produce a lot of carbon dioxide during energy generation, which is bad for protecting the environment. To replace fossil fuels with renewable energy sources, numerous initiatives and studies are being carried out.

Additionally, the manner that the electric power business operates has changed from the conventional methods, which has increased the usage of distributed energy resources including fuel cells, batteries, onsite solar panels, and combined heat and power. the development of low-cost technologies, the reduction of carbon emissions from the power grid, the requirement to promptly satisfy consumer demands, and the cost reduction of distributed energy resources. The energy as a service ecosystem benefits from the decreasing cost of energy resources, and different utilities contribute to customer cost reduction by switching from traditional to distributed resources.

Segmentation of Energy as a Service Market

Solutions and services are part of the market segmentation for energy as a service based on components. Due to rising government initiatives for the use of renewable energy sources and growing awareness of energy saving, the service segment dominated the market with the biggest share of revenue.

Residential, governmental, and industrial end users are included in the energy as a service market segmentation. In the market for energy as a service, the industrial category brought in the most money. Large scale firms and small and medium-sized enterprises are further separated under the industrial category.

The study breaks down the market information by region, including North America, Europe, Asia-Pacific, and the rest of the world. Due to the rapid growth of artificial intelligence (AI) and data analytics, the North American energy as a service sector will dominate this market. The rising need for energy from both industrial and residential sectors is another factor that will promote market expansion in this area.

Due to the growing use of renewable energy sources for energy consumption, Europe holds the second-largest market share for energy as a service. Additionally, the UK energy as a service market was expanding at the quickest rate in the European region, while the German energy as a service market had the biggest market share. From 2023 to 2030, the energy as a service market in Asia-Pacific is anticipated to develop at the quickest CAGR. This is because there is effective grid infrastructure there. Additionally, the Indian energy as a service market had the Asia-Pacific region's fastest expanding market and China's energy as a service market had the greatest market share.

Leading market companies are making significant investments in R&D to broaden their product offerings, which will spur further expansion of the energy as a service industry. In order to increase their worldwide presence, market participants are also engaging in a number of strategic actions. Important market developments include new product launches, increased investments, contractual agreements, mergers and acquisitions, and collaboration with other organisations.

Major players in the energy as a service market, including:

• Johnson Controls (Ireland),


• Duke Energy (US),


• Edison International (US),


• EDF Renewable Energy (UK),


• Engie (France),


• Southern Company (US),


• Schneider Electric Se (France),


• General Electric (US),


• Siemens AG (Germany),


• WGL Energy (US),


• Orsted (Denmark),


• ENEL X(Italy),


• SmartWatt (US),


• Bernhard Energy (US),


• Enertika (Sapin),


• Honeywell (US),


• Veolia (France),


• Noresco (US),


• Wendel Energy Services (US)