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Europe Industrial Energy Management Systems Market Size

Report ID: GMI9908
Published Date: Jun 2024
Report Format: PDF

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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.

Europe Industrial Energy Management Systems Market

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Industrial Energy Management Systems Market Size in 2023:	USD 5.5 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	6.5%
2024 – 2032 Value Projection:	USD 10 Billion
Historical Data for:	2021 – 2023
No. of Pages:	350
Tables, Charts & Figures:	15
Segments covered:	Component and Applications
Growth Drivers:	Rising Energy Demand Growing Integration of Advanced Technologies with Energy Systems
Pitfalls & Challenges:	High-Cost Concerns

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Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of Europe industrial energy management systems was crossed USD 5.5 billion in 2023 and will grow at 6.5% CAGR between 2024 and 2032, driven by stringent government regulations on energy efficiency, the rising cost of energy, and growing awareness about sustainable practices.

Europe industrial energy management systems market from the power and energy segment will expand 6.5% CAGR through 2032, primarily due to high energy consumption and the critical need for efficiency improvements.

Germany industrial energy management systems industry size will exceed USD 1.9 billion by 2032, propelled by stringent regulatory frameworks, robust industrial base and strong emphasis on energy efficiency and sustainability.

ABB Limited, Andover Continuum, ENGIE Impact, Energy CAP, Emerson Electric Co., eSight Energy, General Electric, Honeywell International Inc., Jadetrack, IBM, and Inavitas, among others.