Market Research Report
Europe Energy as a Service (EaaS) Market 2021-2027
|Europe Energy as a Service (EaaS) Market 2021-2027|
Published: August 3, 2021
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Full-title:Europe Energy as a Service (EaaS) Market Size, Share & Trends Analysis Report by Type (Power Generation Services, Operational and Maintenance Services, and Others) by End-User (Commercial, Industrial, and Others) Forecast, 2021-2027.
Europe EaaS market is projected to grow at a modest CAGR of around 14.8% during the forecast period (2021-2027). The EaaS market growth in European countries is mainly driven by the factors such as rising preference towards decentralization power generation, low-cost renewable power generation, and increase in digitalization and transformation in power sectors. The advancement in smart monitoring systems has resulted in their increased adoption in energy sectors to continuous monitoring of energy consumption. The presence of major players such as Engie, Siemens, Jonhson Control, Alpid, and Enel X, among others in the region and their contribution to offer highly efficient services to their customers also propelling the market growth. The rising need to overcome the dependence on non-renewable energy resources to reduce carbon emission has increased the demand for renewable energy sources, which in turn, accelerates the market growth. However, the lack of skilled persons and challenges related to the deployment and integration of energy models are the factors projected to hamper the growth of the market in Europe during the forecast period.
The Europe EaaS market is hardly hit by the impact of the COVID-19 pandemic, due pandemic various sectors such as industrial, commercial, transportation, construction, and others were closed regarding the lockdown imposed by the government in major economies, this led to less energy consumption by these sectors. Disruptions in multiple supply chains across a variety of sectors occurred, especially at the beginning of the crisis, hence the market registered a decline in growth. In addition, delayed energy efficiency projects, owing to a temporary shutdown, resulting in low revenue generation for the manufacturers. Post Covid-19, the market will experience V-Shape recovery from the crises.
Europe EaaS market is segmented based on type and end-user. Based on type, the market is segmented into power generation services, operational and maintenance services, and energy efficiency and optimization services. Among these, the energy efficiency & optimization services segment is projected to register significant growth during the forecast period. This is owing to the increasing government initiative towards the adoption of renewable energy sources for the optimization of energy consumption in the commercial and industrial sectors. Based on end-user, the energy as a service market is categorized into commercial, industrial, and others (government). Among these, the energy as a service in industrial end-user is anticipated to hold the largest share in the market during the forecast period. Whereas commercial sector is anticipated to be the fastest-growing during the forecast period owing to the establishment of educational institutions, healthcare institutes, information centres, airports, and others and increasing energy demand by these end-users.
Based on the demographic viewpoint, the Europe EaaS market has been segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The UK is likely to hold a major share in the Europe EaaS market over the forecast period. Further, Alpiq, Blackstone Energy Services Inc., Blackstone Energy Services Inc., Enel X s.r.l., Enertika, ENGIE, Ørsted A/S, Schneider Electric SE, Siemens AG, Veolia Environment SA, among others are some of the prominent players functioning in the European EaaS market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain a strong position in the highly competitive market.
The market study of the Europe EaaS market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.