Impact of Optimization & Energy Efficiency Services to Register a Whopping Growth Rate of 48% Within the Energy as a Service Market

PUNE, India, July 11, 2018 /PRNewswire/ --

According to a new market research report "Energy as a Service Market by Service Type (Generation, Operation & Maintenance, Optimization & Efficiency), End-User (Industrial Sector and Commercial Sector), and Region (North America, Europe, Asia Pacific, and RoW) - Global Forecast to 2023", published by MarketsandMarkets™, the global market is expected to grow from an estimated to be USD 1,116.5 million in 2018 to USD 7,336.1 million by 2023, at a CAGR of 45.72% from 2018 to 2023. This growth can be attributed to the rising energy consumption and price volatility and growing potential of renewable energy.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 41 Tables and 31 Figures spread through 101 Pages and in-depth TOC on "Energy as a Service Market"

https://www.marketsandmarkets.com/Market-Reports/energy-as-a-service-market-23172723.html

Early buyers will receive 10% customization on this report 

Industrial segment is expected to hold the largest share of the Energy as a Service Market, by end-user, during the forecast period. 

Industrial segment is expected to lead the Energy as a Service Market in 2018 and is projected to have the largest market share during the forecast period. The growth of the industrial segment is primarily driven by decarbonization and energy efficiency standards. For instance, the Energy Policy Act 1992 focuses on increasing clean energy use and improving overall energy efficiency in the US. Similarly, Energy Conservation Law of China, 1992 focuses on promoting energy conservation, improving energy utilization, and protecting the environment from GHG emissions. There is greater scope of Energy as a Service model opportunities for industries to improve energy efficiency through improved equipment and process design and the adoption of energy management systems. These factors drive the growth of the industrial sector segment of Energy as a Service market.

Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=23172723

Energy optimization & efficiency services are expected to hold the largest share of the Energy as a Service Market, by service type, during the forecast period. 

Energy optimization & efficiency segment is expected to dominate the Energy as a Service Market in 2018 and is projected to hold the largest market share during the forecast period. The energy optimization & efficiency services include the identification of energy saving potential and optimization of existing building energy services. The energy saving potential is identified after evaluating the existing energy systems in the building through an energy audit. ISO 50002 compliance defines energy-auditing process to create energy savings. It focuses on the largest energy users, identifying opportunities to reduce energy waste, improve energy efficiency, and optimize energy supply. All these factors have resulted in the largest share of the energy optimization & efficiency segment in the Energy as a Service Market.

North America: the leading market for Energy as a Service (EaaS) 

In this report, the Energy as a Service Market has been analyzed with respect to four regions, namely, Asia Pacific, Europe, North America, and the Rest of the World. The Rest of the World includes South America, Africa, and the Middle East. The market in North America is expected to lead the global Energy as a Service Market in 2018 and is projected to have the largest market share by 2023. ISO 50001 is the energy management standard that helps the organizations to use energy efficiently. This standard helps organizations use energy more efficiently through the development of an energy management system. New incentive policies, increased commitment to reduce GHG, and climate change targets are contributing to the growth of the Energy as a Service Market in the region. Rising standards and initiatives by governments, increase in the number of smart cities, smart communities, and electric vehicles are also boosting the market for grid management and power efficiency, which in turn would create opportunities for the Energy as a Service market in North America. The US is expected to hold the largest share of the Energy as a Service market in North America in 2018. The energy efficiency services market in the US has grown significantly in the past decade. In 2012, it saved about 34 TWh of electricity, representing 2.5% of total commercial and institutional electricity consumption. Similarly, the ESCO revenues were an estimated USD 6.3 billion in 2015, more than double the USD 2.5 billion in 2004, as per the International Energy Agency (IEA). According to the International Renewable Energy Agency (IRENA), the share of renewables in the US energy mix would increase to 10% by 2030 as compared to 7.5% in 2010. The continued increase in renewable power generation and energy efficiency activities are expected to drive the Energy as a Service Market in the North American region.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Energy as a Service Market. The key players in the market are GE (US), Siemens (Germany), Engie (France), Edison Energy (US), Enel X (Italy), and EDF Energy (UK). The leading players are trying to expand in developing economies and are adopting various strategies to increase their market shares.

Know more about the Energy as a Service Market: 

https://www.marketsandmarkets.com/Market-Reports/energy-as-a-service-market-23172723.html

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Research Insight @ https://www.marketsandmarkets.com/ResearchInsight/energy-as-a-service-market.asp

Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

SOURCE MarketsandMarkets