The Europe Energy as Service (EaaS) market is anticipated to grow significantly at a CAGR during the forecast period (2022-2028). The major economies such as the UK, France, Germany, Italy, Spain, and the rest of Europe are contributing towards the growth of the market. The market in Europe is driven by supportive government policies to reduce the carbon footprint by adopting renewable energy sources. The commercial sector (includes buildings, educational institutions, hospitals, and others) is one of the major sectors in Europe with high energy consumption and led to the high carbon emission. As per the EU, buildings are accountable for nearly 36% of CO2 emissions and 40% of energy consumption in the EU. Currently, nearly 75% of the building stock in the EU is energy inefficient, nearly 35% of the buildings in the EU are more than 50 years old, while only 0.4-1.2% of the building stock is renovated annually.
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Therefore, the European government is supporting energy-efficient buildings through its new rule Directive (2018/844/EU) on the energy performance of buildings, launched in July 2018 as part of the Clean Energy for All Europeans package. Such new provisions will make future buildings much comfortable and greener, which thereby will consume less energy. The new rule encourages the utilization of investments in renovation and is anticipated that SMEs will primarily benefit from renovation, as it accounts for over 70% of the value-added in the EU building sector. This, in turn, will encourage the adoption of EaaS for demand and supply management of energy.
Moreover, the key companies across the region are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For instance, in May 2021, GreenStruxure (the Schneider Electric and Huck Capital joint venture) and ClearGen (a portfolio company of Blackstone Credit) announced the strategic partnership collaboration. Through this partnership agreement, the company will accelerate the energy transition for commercial and industrial sector customers. In addition, GreenStruxure will develop and operate highly standardized on-site renewable energy microgrid systems for this, a $500 million fund will be provided by ClearGen under the agreement. Similarly, in May 2021, IRENA and Siemens Energy have signed a partnership agreement. The main aim of the partnership is to advance the global energy transition to renewable energy around the world. Moreover, in November 2020, Blackstone Energy Services Inc. acquired Therma Holdings LLC. The acquisition helped Blackstone to continue its support for the transition to cleaner, affordable energy.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered
o By Type
o By End-User
• Competitive Landscape- 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
Key questions addressed by the report.
• What is the market growth rate?
• Which segment dominates the market in a base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast.
o Most affected segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Europe Energy as Service Market – Segmentation
• Europe Energy as Service Market, By Type
o Power Generation Services
o Operational and Maintenance Services
o Energy Efficiency and Optimization Services
• Europe Energy as Service Market, By End-User
o Commercial
o Industrial
o Others (Government)
Europe Energy as a Service Market – Countries Covered
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of europe
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