From GlobeNewswire.: 2024-04-12 08:00:00

The Global Energy as a Service Market is projected to grow from USD 75.60 Billion in 2023 to USD 201.50 Billion by 2033, with a CAGR of 10.30%. The business model offers end-to-end energy solutions, including demand response, energy management systems, integration from renewable sources, and more. Solar and wind are good examples. Decarbonization, electrification, urbanization, and digitalization are driving the energy as a service model. The rise in renewable energy installation and demand in various sectors are expanding the market growth. Electric vehicles and charging points are increasing market demand, although high capital investments remain a challenge. North America dominates the market, while Europe is expected to grow the fastest. Major vendors include Siemens AG, Honeywell, Edison International, and more. In October 2023, Lithuanian renewables developer Green Genius secured financing for a 6.5 MW solar and battery energy storage project for a Carlsberg A/S brewery in Lithuania. Key segments include service analysis, components analysis, and end-user analysis. Market growth is driven by factors like population rise and growing awareness of energy efficiency. North America leads the market, with European countries like Germany and the UK showing significant growth. The energy landscape is evolving rapidly, and businesses are seeking innovative solutions to meet energy needs. The introduction of electric vehicles and increasing demand for energy sources across various sectors are expanding the market growth for energy as a service. Major players in the market are focusing on product development, partnerships, mergers, and acquisitions to stay competitive. Comprehensive regional analysis is provided, offering insights on key factors driving market growth. Spherical Insights is a market research and consulting firm providing actionable insights for decision makers to achieve business objectives and strategic improvements. Contact them for more information on the global energy market.



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