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North America Energy as a Service (EaaS) Market Analysis

Report ID: GMI8772
Published Date: Apr 2024
Report Format: PDF

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North America Energy as a Service Market Analysis

North America Energy as a Service Market Size, By Type, 2022-2032 (USD Billion)

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Based on type, the market is segmented into energy supply service, operational and maintenance services and energy efficiency and optimization services. Operational and maintenance services are anticipated to reach over USD 36 Billion by 2032. These services offer comprehensive maintenance solutions tailored to the specific needs of businesses and utilities, encompassing proactive monitoring, predictive maintenance, and real-time diagnostics, thereby stimulating the service penetration.

North America Energy as a Service (EaaS) Market Share, By End-Use, 2023

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Based on end-use, the energy as a service market is segmented into residential, commercial, industrial and utility. Residential is set to grow at a CAGR of over 10% up to 2032. Innovative financing models and subscription-based services, support homeowners gain access to advanced technologies including smart thermostats, energy-efficient appliances, and rooftop solar panels, without the upfront costs, improving the growth prospects. Furthermore, additional benefits including lowering homeowner energy bills, and increasing property value, will fuel the market expansion.

U.S. Energy as a Service (EaaS) Market Size, 2022-2032 (USD Billion)

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U.S. Energy as a Service (EaaS) market is anticipated to grow over USD 67.5 Billion by 2032. Stringent environmental regulations and renewable energy mandates are incentivizing businesses and utilities to adopt sustainable energy solutions thereby improving the product adoption. Incentives such as tax credits, rebates, and grants for energy efficiency and renewable energy projects can drive demand for EaaS offerings and support market growth. Growing focus towards digitalization and remote work post-pandemic coupled with increasing frequency and severity of extreme weather events across the region will accelerate the industry progress. In addition, it presents significant opportunities for businesses to optimize energy usage, reduce costs, and achieve sustainability goals through innovative service-based approaches.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

North America energy as a service (EaaS) industry size was USD 35.7 billion in 2023 and is anticipated to witness 9.3% CAGR up to 2032, due to rising rate of outsourcing energy-related tasks, such as energy generation, storage, optimization, and management to a third-party provider.

U.S. energy as a service market is anticipated to exceed USD 67.5 billion by 2032, led by stringent environmental regulations and renewable energy mandates for incentivizing businesses and utilities to adopt sustainable energy solutions.

North America energy as a service market from the residential end-use segment is set to grow at over 10% CAGR from 2024 to 2032, owing to higher need for innovative financing models and subscription-based services to support homeowners gain access to advanced technologies.

Some of the prominent energy as a service companies are Ameresco, Inc., ABB Ltd, Bernhard Energy Solutions, Capstone Green Energy Corporation, Edison Energy, and Enel X.