Asia-Pacific Energy as a Service (EaaS) Market Size - By Type (Energy supply service, Operational and maintenance services, Energy efficiency and optimization services), By End-Use (Residential, Commercial, Industrial, Utility), & Forecast, 2024 – 2032

Asia-Pacific Energy as a Service Market Size

Asia-Pacific Energy as a Service Market Size was valued USD 46.8 Billion in 2023 and is anticipated to grow at a CAGR of 8.4% by 2032. It is a business model where energy-related services are provided to end-users comprehensively and flexibly. Customers pay for the energy they consume or for specific energy-related outcomes, instead of owning energy infrastructure outright, including reduced energy costs or carbon emissions.
 

Government policies promoting renewable energy adoption and sustainability coupled with innovations in energy management technologies and digital solutions will augment the industry landscape. Growing awareness of environmental issues and the need for carbon reduction initiatives will boost the business statistics.
 

Asia-Pacific Energy as a Service Market Trends

Rising virtual power plants (VPPs) deployments, leveraging EaaS models to aggregate distributed energy resources (DERs) and provide grid services, demand response, and energy trading opportunities will augment the market landscape. Increasing adoption of renewable energy sources, driven by government policies and sustainability initiatives in addition to the rise of smart cities and digitalization will drive the deployment of the platform leading to improved business growth.
 

Asia-Pacific Energy as a Service Market Analysis

Based on type, the energy supply services segment is expected to reach USD 34 billion by 2032 on account of increasing energy demand necessitating reliable and efficient energy supply solutions. The region boasts vast renewable energy resources, including solar, wind, and hydroelectric power, which present opportunities for EaaS providers to integrate clean energy sources into their supply offerings leading to escalating the business statistics.
 

Based on end-use, the industrial sector is set to grow at a CAGR of over 8.5% through 2032. Increasing sector energy cost, amplifies the demand for efficient and cost-effective energy solutions augmenting the business landscape. Growing emphasis on sustainability and environmental stewardship, the industrial sector is under pressure to reduce carbon emissions and adopt cleaner energy sources will strengthen the business scenario. Furthermore, diverse energy needs, characterized by fluctuating demands and energy-intensive processes of the sector will augment the industry growth.
 

China energy as a Service market size surpass USD 81 billion by 2032. Strong government support and favorable policies including subsidies for renewable energy projects and incentives for energy efficiency improvements, will enhance the adoption of EaaS solutions. Shifting focus to environmental sustainability and carbon reduction in addition to advancements in energy management technologies and digital solutions will lead to robust market expansion. Companies are also expanding their presence across the economy to improve their customer footprint enhancing their business trends.
 

Asia-Pacific Energy as a Service Market Share

Eminent players are implementing targeted strategies to drive the market growth. This includes forming strategic partnerships to enhance market presence, diversifying service portfolios to address diverse customer needs, and investing in technological innovation to deliver more efficient solutions. Furthermore, geographic expansion is a key strategy, allowing companies to leverage their expertise and capitalize on emerging opportunities across different countries within the regional market.
 

Asia-Pacific Energy as a Service Market Companies

Major players operating in the global market are:

• ABB Ltd
• Ameresco, Inc.
• Alpiq
• Bernhard Energy Solutions
• Contemporary Energy Solutions
• Capstone Green Energy Corporation
• EDF Energy
• Edison Energy
• Enel X
• ENGIE
• Honeywell International Inc
• Keppel Corporation
• Schneider Electric
• Siemens AG
• WGL Energy
   

Asia-Pacific Energy as a Service Industry News

• In June 2023, Keppel Corp, in collaboration with Decarb Corp, has secured two contracts to deliver "energy-as-a-service" (EaaS) solutions in Bangkok. Through Keppel's EaaS offering, businesses and building owners can engage in supply-and-service contracts for energy usage and management, eliminating the need for substantial upfront capital investments.
   
• In November 2020, BP has announced a partnership with Infosys to develop and pilot an Energy as a Service (EaaS) solution aimed at enhancing energy efficiency and supporting decarbonization goals for businesses. The collaboration involves the co-development of a digital platform capable of collecting data from various energy assets and utilizing artificial intelligence to optimize energy supply and demand across power, heat, cooling, and electric vehicle charging. The pilot project will take place at the Infosys Pune Development Center, simulating a small city environment where energy is generated, stored, and consumed at multiple points.
   

This Asia-Pacific energy as a service market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Billion” from 2019 to 2032, for the following segments:

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Market, By Type

• Energy supply service
• Operational and maintenance services
• Energy Efficiency and optimization services

Market, By End-Use

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following countries:

• China
• South Korea
• India
• Japan