2020 Future of Global Energy Services Market, Size, Share and Trend Analysis Report to 2026
The Energy Services Market size is forecast to grow at a CAGR of 11.25% between 2020 and 2026. Increasing demand for reducing building energy costs coupled with decreasing cost of renewable power generation and storage solutions are factors shaping the market size and value. High cost of renewable power generation and storage solutions, and new revenue generation streams for utilities are fuelling the market growth. Moreover, deeper operational and maintenance savings to create major energy service market growth opportunities. However, integration and deployment trials and the dominance of existing centralized utility models to challenge the market growth. Request Free Sample @ https://www.oganalysis.com/sample/214410 The energy supply services segment hold the largest market share during the forecast period The energy supply services segment hold the largest market share with the increasing prices to procure a resilient energy supply and grid operation. Therefore, expansion in electricity and complex tariff structures with the need for modified energy generation projects grounded on requirements with recent and active technology is set to trigger the market growth. Energy as a service aids to offer onsite energy supply such as mutual distributed energy generation solutions like solar PV, combined heat and power, diesel and natural gas gensets, microturbines, and fuel cells to expand and sustain energy supply. These energy services are set to thrust market growth. Browse Energy Services Market Research Report @ https://www.oganalysis.com/industry-reports/214410/energy-services-market By End User, the commercial segment emerges with strong market growth during the forecast period The commercial segment holds the largest market share driven by its significant impact on the foreseen economic growth. Furthermore, commercial consumers to access their energy efficiency through energy as a service to improve energy consumption drives the segment growth. This growth is mainly driven by factors including an increase in floor area, occupancy, and access to services along with an increase in construction activity. Further, increase in commercial building activities that have unique energy needs services to help the commercial holders for limited capital and technical expertise drive the market growth. Request for Special Discount on Energy Services Market report @ https://www.oganalysis.com/discount/214410 Economies harnessing the energy are likely to boost the Energy Services Market value during the forecast period North America to lead the energy service market value driven by increasing energy efficiency projects and growth in distributed energy resources in countries such as the US, Canada, and Mexico. In addition, various government standards including ISO 9001, ISO 14001, and ISO 50001 to drive the growth of energy service efficiency programs across the region. Further, an increase in the number of smart cities and communities as well as transport electrification for grid management and power efficiency creates energy service market growth opportunities. Rising demand for energy in industrial and commercial needs to boost the energy as a service market in this region.US is likely to hold the largest share of the energy as a service market owing to energy efficiency services. Whereas, Asia Pacific to emerge over the forecast period in terms of consumption by rising demand from the power and oil & gas industry in this region. Additionally, across the Asia Pacific, the cost-effective adoption of renewable energy bounded with smart infrastructures for conserving energy is likely to drive the energy as a service market globally. However, the European energy service market is set to grow at a remarkable pace through the presence of energy service market players and auction of sustainable energy projects. The adoption of various strategies by leading key players to increase market shares in the energy service market The leading key energy services market players contributing to the market share are Schneider Electric, Engie, Siemens, Honeywell, Veolia, Enel X, General Electric, Edison, Wendel Energy Services, and EDF Renewable Energy among others. The key market participants are observed to enter long-term contracts to deliver efficient services. For instance, in 2019, Engie was given an energy efficiency performance contract by UAC Berhad to improve energy efficiency and to strengthen its capabilities for energy as a service. Further, in 2019, Houston-based Key Energy Services Inc. to extend its agreements with its creditors, staving off the consequences of default until next year. In addition, the UKu2019s Competition and Markets Authority (CMA) approves OVOu2019s proposal to acquire SSE Energy Services in 2019 for developing, operating and owning renewable energy and electricity network assets. Following this news, it is witnessed that major market service providers are investing in M&A activities to strengthen their market share. Furthermore, market players are alliancing not only with energy utilities by with academic facilities to mark their footprint in the energy service market value. For example, in 2019, ENGIE and Meridiam to serve the University of Iowa, to offer the University global resources, operational knowledge, and best practices needed to deliver crucial services while enabling the University to focus on its core missions in academics and research. Related reports 1. Advanced Energy Storage Systems Market 2. 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