The EaaS Market: Trends, Opportunities, and Challenges

Energy As A Service Industry Overview

The global energy as a service market size was valued at USD 59.37 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028. An increase in Distributed Energy Resources (DER), tax benefits for energy efficiency projects, new revenue generation streams for utilities, and a decrease in the cost of renewable power generation and storage solutions are some of the factors driving the growth. The market is driven by the rising potential of renewable energy, price volatility, and rising energy consumption are other significant factors driving growth. Organizations have gradually been looking for sustainable energy sources, which in turn is anticipated to positively influence the growth.

Gather more insights about the market drivers, restrains and growth of the Energy As A Service Market

The Energy as a Service (EaaS) concept is still at its nascent stage, especially in developing economies. The market for EaaS is segmented on the basis of service type and end user. The services include management of usage, supply, and assessment. Most energy providers are opting for partnerships and business collaborations in order to attract more consumers. Developed countries, such as the U.S. and Canada have laid down policies and regulatory standards to promote the adoption of EaaS.

Increasing focus on renewable as well as non-renewable energy sources that mainly support renewable energy due to lowers costs, reduced carbon footprint, environment-friendly, and energy-efficient is projected to contribute to the market growth. Increasing government investments in sponsoring renewable sources are anticipated to drive the growth of the market over the forecast period.

Energy as a service also provides the customers with the flexibility of choice regarding pricing and ownership. It also helps the operators customize energy generation projects based on different power requirements of the customers in terms of both robust and modern. The service also enables easy and rapid assimilation of energy storage assets with a distributed generation system.

Browse through Grand View Research’s Power Generation & Storage Industry Research Reports.

• The global nickel zinc rechargeable battery market size was estimated at USD 13.60 million in 2023 and is projected to grow at a CAGR of 24.4% from 2024 to 2030. The rising demand for efficient and eco-friendly energy storage solutions, rapid expansion of electric vehicles, and ongoing advancements in battery technology are attributable factors for the market growth.

• The global military battery market size was estimated USD 1,403.50 million in 2023 and is expected to grow at a CAGR of 4.11% from 2024 to 2030. Technological advancements in battery chemistry and design significantly impact the military battery market. Developments in lithium-ion, solid-state, and other advanced battery technologies provide higher energy densities, longer life cycles, and improved safety features.

Energy As A Service Market Segmentation

Grand View Research has segmented the global energy as a service market report on the basis of service, end user, and region:

Energy As A Service Outlook (Revenue, USD Billion, 2016 – 2028)

• Supply
• Demand
• Energy Optimization

Energy As A Service End-user Outlook (Revenue, USD Billion, 2016 – 2028)

• Industrial
• Commercial

Energy As A Service Regional Outlook (Revenue, USD Billion, 2016 – 2028)

• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o Germany
o The U.K.
• Asia Pacific
o China
o India
o Japan
o South Korea
• Central & South America
o Brazil
• Middle East & Africa
o Saudi Arabia

Order a free sample PDF of the Energy As A Service Market Intelligence Study, published by Grand View Research.

Key Companies profiled:

• Schneider Electric
• Engie
• Siemens
• Honeywell International Inc.
• Veolia
• Enel X S.r.l.
• EDF