The global energy as a service market size was valued at USD 64.34 billion in 2022 and is projected to grow from USD 70.46 billion in 2022 to USD 147.56 billion by 2030, at a CAGR of 11.1% in the 2022-2030 period. The market for energy as a service is expected to continue to grow in the coming years, driven by increasing demand for renewable energy sources, the need for cost-effective energy solutions, and a growing interest in energy efficiency and sustainability. Some of the key players in the energy as a service market include energy service companies (ESCOs), utilities, and renewable energy developers.

The global energy as a service market refers to the provision of energy services to customers through a third-party provider, typically in the form of a long-term contract. This model enables customers to access energy services without the need for upfront capital investment in energy infrastructure or ongoing maintenance costs.

The energy as a service market includes a range of services, including energy management, energy efficiency upgrades, demand response, renewable energy generation, and energy storage. These services can be provided to a range of customers, including commercial, industrial, and residential customers.

The global energy as a service market is expected to continue to expand in the coming years, driven by the increasing adoption of renewable energy sources and a growing demand for cost-effective and sustainable energy solutions.

Market Dynamics

Driving Factors

There are several driving factors behind the growth of the global energy as a service market:

Growing Interest in Energy Efficiency and Sustainability: Consumers and businesses are increasingly aware of the importance of energy efficiency and sustainability. Energy as a service providers can help customers reduce their carbon footprint and achieve their sustainability goals by offering renewable energy solutions and other energy-saving services.

Advancements in Energy Storage Technology: Energy storage technology has advanced significantly in recent years, making it easier to store and use renewable energy. Energy as a service providers can offer energy storage solutions to customers, enabling them to store excess energy generated from renewable sources for use during peak demand periods.

Restraining Factors

There are several driving factors behind the growth of the global energy as a service market, there are also some restraining factors that could limit its growth:

Competition from Traditional Energy Providers: Traditional energy providers may also offer energy efficiency and renewable energy solutions, which can create competition for energy as a service providers.

Technological Limitations: While energy storage technology has advanced significantly in recent years, there may still be technological limitations that prevent energy as a service providers from offering certain services or solutions.

Challenges Factors

The global energy as a service market faces several challenges, including:

Integration with Existing Infrastructure: Energy as a service solutions must often be integrated with existing energy infrastructure, which can be challenging due to differences in technology and infrastructure standards.

Lack of Awareness: Finally, many potential customers may not be aware of the benefits of energy as a service solutions, particularly in emerging markets. Energy as a service providers may need to invest in marketing and education to increase awareness and drive adoption of their solutions.

Opportunity Factors

The global energy as a service market presents several opportunities for growth and innovation, including:

Technological Advancements: Advances in technology are creating new opportunities for energy as a service providers. For example, the growth of energy storage technology is creating new opportunities for renewable energy providers to store excess energy generated from renewable sources for use during peak demand periods.

Emerging Markets: Emerging markets, particularly in Asia and Africa, present significant opportunities for energy as a service providers. These markets often lack established energy infrastructure, creating opportunities for energy as a service providers to provide innovative energy solutions.

Segmentation Analysis

Service Outlook

The global energy as a service market can be segmented into various service outlooks based on the type of service being offered. Some of the key segments of the energy as a service market include:

Energy Supply Services segment includes services related to the supply of energy, such as sourcing, procurement, and management of energy sources. Energy as a service providers in this segment may offer renewable energy sources such as wind and solar power, as well as traditional energy sources such as natural gas and diesel.

Renewable Energy Services segment includes services related to the development, installation, and management of renewable energy systems, such as solar and wind power. Energy as a service providers in this segment may offer turnkey solutions, including financing, installation, and ongoing management of renewable energy systems.

Operational and Maintenance Services segment includes services related to the maintenance and repair of energy systems, as well as ongoing operational support. Energy as a service providers in this segment may offer maintenance and repair services for renewable energy systems, as well as operational support services such as remote monitoring and diagnostics.

End User Outlook

The C&I sector is one of the largest end user segments of the energy as a service market. This segment includes businesses of all sizes, from small shops to large industrial facilities. Energy as a service providers in this segment may offer a range of solutions, including renewable energy systems, energy efficiency upgrades, and energy management services.

The government and public sector is another important end user segment of the energy as a service market. Energy as a service providers in this segment may offer a range of solutions, including renewable energy systems, energy efficiency upgrades, and energy management software, to help governments and public institutions reduce energy costs and meet sustainability goals.

The residential sector is a growing end user segment of the energy as a service market, particularly in developed countries. Energy as a service providers in this segment may offer solutions such as rooftop solar panels, energy-efficient lighting, and smart home energy management systems to help homeowners reduce energy costs and improve energy efficiency.

Regional Analysis

North America is a significant market for electric vehicle charging infrastructure, driven by high levels of adoption of electric vehicles in the US and Canada. The region is also home to several key infrastructure providers and technology companies, including Tesla, ChargePoint, and EVgo.

Europe is a leading market for electric vehicles and charging infrastructure, with several countries implementing policies to encourage adoption and development. The region is also home to several infrastructure providers, including Allego, NewMotion, and Ionity.

The Asia-Pacific region is a rapidly growing market for electric vehicles and charging infrastructure, driven by increasing demand in China, Japan, and South Korea. The region is also home to several infrastructure providers, including BYD, ABB, and Envision Digital.

Scope Of Report:

The Global Energy as a Service Market has been segmented into:

By Service

• Supply
• Demand
• Energy Optimization

By End-user

• Industrial
• Commercial

Market Players 

The global electric vehicle charging infrastructure market is highly competitive and fragmented, with numerous players vying for market share. Some of the key companies in the market are:

• AeroVironment, Inc.
• ABB
• BP Chargemaster
• ChargePoint, Inc.
• ClipperCreek, Inc.
• Eaton Corp.
• General Electric Company
• Leviton Manufacturing Co., Inc.
• SemaConnect, Inc.
• Schneider Electric
• Siemens AG
• Tesla, Inc.
• Webasto SE 

Tesla is a technology company that designs and manufactures electric vehicles, energy storage systems, and solar panels. The company also operates a network of Supercharger and Destination charging stations. ChargePoint is an infrastructure provider that offers a range of charging solutions for homes, workplaces, and public areas. The company also operates a network of charging stations across North America, Europe, and Australia.

ABB is a technology company that offers a range of solutions for the energy sector, including electric vehicle charging infrastructure. The company provides fast chargers for commercial and public areas, as well as solutions for homes and workplaces.

Strategic Developments

In October 2021, EDF Renewables North America acquired 350 MW of solar and storage projects from Quest Renewables, a developer of solar tracking systems. The acquisition will expand EDF Renewables' portfolio of solar and storage projects in North America.

In September 2021, Schneider Electric announced the acquisition of controlling stake in ETAP Automation, a California-based company that provides software for power system design and operation. The acquisition will enhance Schneider Electric's portfolio of energy management and automation solutions.

In August 2021, ENGIE announced a partnership with the Saudi Arabian utility company ACWA Power to develop renewable energy projects in Saudi Arabia. The partnership will focus on the development of wind and solar projects with a total capacity of 1.6 GW.

In July 2021, Centrica announced the acquisition of Vista Solar, a California-based solar installer that specializes in commercial and industrial projects. The acquisition will expand Centrica's capabilities in the solar energy market.

In June 2021, Johnson Controls announced the acquisition of Silent-Aire, a manufacturer of HVAC equipment and modular data centers. The acquisition will enhance Johnson Controls' portfolio of building automation and energy management solutions.

In May 2021, Enel X announced a partnership with the Korean energy company KTC to develop a 50 MW battery storage project in South Korea. The project will support the integration of renewable energy into the South Korean grid.