The North America Energy as a Service Market is anticipated to grow significantly at a CAGR over the forecast period (2022-2028). The industrial sector is one of the biggest sectors driving the growth of the energy as a service market in the North America region. The rapid growth in urbanization leads to the increase in population due to which the demand for energy in every sector especially in the industrial sector has surged. As per the US Energy Information Administration, in 2020, total US energy consumption was about 93 quads, a decrease of about 7% from 2019. The industrial sector comprises facilities and equipment used for manufacturing, agriculture, mining, and construction. According to the US Energy Information Administration, in 2020, the energy consumption by the industrial sector was nearly 36% of the total energy consumption including all the end-users, and 33% of the total energy consumption. Different industrial activities have unique energy needs. For instance, in the industrial sector, manufacturing accounts for the largest share of annual industrial energy consumption, followed by mining and construction. In 2020, manufacturing accounted for 77% of the total industrial energy consumption. Natural gas, petroleum, electricity, renewable energy sources mainly biomass such as pulping liquids (called black liquor), are the energy sources highly required by the industrial sector.
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Moreover, the increasing Industrial policy measures for industrial energy efficiency improvements are also the factor driving the growth of the market in the region. Besides, the rising investments for renewable energy efficiency generation are also anticipated to boost the market growth during the forecast period. For instance, according to the American Council for an Energy-Efficient Economy (ACEEE), around $83 billion was invested in 2018 on energy efficiency in the US.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered- By Type, By End-User
• Regions Covered- North America
• Competitive Landscape- EDF Trading Ltd. (US), Entegrity Energy Partners, LLC (US), Edison International, General Electric, Smartwatt, United Technologies Corp., WGL Holdings, Inc., Wendel Energy Services, 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?
North America Market – Segmentation
• North America Energy as a Service Market, By Type
o Power Generation Services
o Operational and Maintenance Services
o Energy Efficiency and Optimization Services
• North America Energy as a Service Market, By End-User
o Commercial
o Industrial
o Others (Government)
North America Market – Countries Covered
• US
• Canada
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