Europe Industrial Energy Management Systems Market Size - By Component (Metering & Field Equipment, Hardware, Software, Networking Device, Control Systems), By Application (Power & Energy, IT, Manufacturing, Enterprise, Healthcare), & Forecast, 2024 - 2032

Europe Industrial Energy Management Systems Market Size

Europe Industrial Energy Management Systems Market was valued at USD 5.5 billion in 2023 and is anticipated to grow at a CAGR of 6.5% from 2024 to 2032, due to regulatory pressures, economic incentives, and advancements in technology. European Union policies aimed at reducing carbon emissions and enhancing energy efficiency have spurred industries to adopt IEMS to comply with stringent standards. Therefore, the IEMS enable businesses to monitor, analyse, and optimize their energy use, resulting in substantial cost savings.
 

The EU's Green Deal and its associated regulations mandate industries to cut energy consumption and lower greenhouse gas emissions, making IEMS essential for compliance and sustainability. Economic incentives are also propelling the adoption of IEMS. Energy costs in Europe are relatively high, and industries are continuously seeking ways to reduce operational expenses. This economic advantage is particularly appealing to energy-intensive industries such as manufacturing, chemicals, and metals.
 

Europe Industrial Energy Management Systems Market Trends

Technological advancements play a crucial role in the proliferation of IEMS. The integration of the Internet of Things (IoT), artificial intelligence (AI), and big data analytics has revolutionized energy management. These technologies provide real-time insights, predictive maintenance, and automated controls, enhancing the efficiency and effectiveness of energy management practices. The increasing availability of cloud-based platforms and smart sensors makes it easier for industries to implement and scale IEMS.

Furthermore, the push for renewable energy integration and sustainability initiatives are encouraging industries to adopt IEMS to manage and optimize their energy mix, including the use of solar, wind, and other renewable sources. As Europe continues to lead in environmental sustainability, the growth of IEMS is poised to accelerate, driving industries toward a more energy-efficient and sustainable future.
 

Europe Industrial Energy Management Systems Market Analysis

Based on component, the software segment is likley to exceed USD 2.5 billion by 2032 due to the increasing complexity of industrial processes requires advanced software solutions to effectively monitor and manage energy consumption. Energy management software provides real-time data analytics, predictive maintenance, and automated reporting, which are crucial for optimizing energy use and reducing costs. These capabilities allow industries to make informed decisions and implement energy-saving measures more efficiently.
 

Based on application, the power and energy segment will showcase about 6.5% CAGR through 2032, due to significant shift towards renewable energy sources such as wind, solar, and hydro power. This transition is driven by the European Union's ambitious climate goals to reduce greenhouse gas emissions and achieve carbon neutrality by 2050. Various government policies and incentives are in place to promote clean energy projects. This includes subsidies, tax incentives, and favorable regulatory frameworks that encourage investments in renewable energy infrastructure. s economies grow and populations increase, the demand for energy is also rising. This necessitates the development of new energy sources and infrastructure to meet the increasing demand sustainably.
 

Germany industrial energy management systems market revenue to surpass USD 1.9 billion by 2032 due to its strong commitment to transitioning towards renewable energy sources, as part of its Energiewende (energy transition) policy. The country is increasingly integrating wind, solar, and other renewable energy sources into its power grid, necessitating sophisticated energy management systems to handle the variability and intermittency of these renewable sources. Industrial energy management systems (IEMS) enable efficient integration, distribution, and consumption of renewable energy, thereby supporting the country's sustainability goals.
 

Similarly, in UK, France, Italy and Russia, regulatory frameworks and incentives designed to reduce greenhouse gas emissions and improve energy efficiency are pushing the power and energy sector to adopt advanced IEMS. Their stringent energy policies and environmental regulations require companies to monitor and optimize their energy use rigorously. IEMS provide the necessary tools for compliance, ensuring that companies meet regulatory standards while also benefiting from potential cost savings.

 

Europe Industrial Energy Management Systems Market Share

Honeywell, Siemens, and Schneider Electric lead the European market for industrial energy management systems, leveraging their deep knowledge in industrial automation and smart technology to sustain a competitive advantage. Their diverse product portfolios provide customized solutions for businesses, including advanced metering, data analytics, and effortless integration with current infrastructure.
 

Europe Industrial Energy Management Systems Market Companies

• ABB Limited
• Andover Continuum
• C3.ai, Inc
• ENGIE Impact
• Energy CAP
• Emerson Electric Co.
• eSight Energy
• General Electric
• Honeywell International Inc.
• Jadetrack
• IBM
• Inavitas
• Johnson Controls Inc
• Mitsubishi Heavy Industries
• Rockwell Automation, Inc.
• Siemens
• Schneider Electric
• Toshiba Corporation
   

Europe Industrial Energy Management Systems Industry News

• In November 2022, ABB has launched OPTIMAX for the hydrogen market, designed to lower operational costs by improving visibility of power usage across multiple domains. This system enhances support throughout the entire lifecycle of a hydrogen plant.
   
• In May 2022, Johnson Controls purchased Asset Plus, a company specializing in energy reduction and zero-carbon solutions. Asset Plus is recognized for achieving sustainability savings across a diverse range of organizations, including the NHS and educational institutions.
   

This Europe industrial energy management systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032, for the following segments:

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Market, By Component

• Metering & Field Equipment
• Hardware
• Software
• Networking Device
• Control Systems
• Sensors
• Others

Market, By Application

• Power & Energy
• IT
• Manufacturing
• Enterprise
• Healthcare
• Others

The above information has been provided for the following countries across the regions:

• Germany
• UK
• France
• Spain
• Italy