The North American EaaS market is projected to grow at a modest CAGR of 15.4% during the forecast period (2021-2027). The global energy as a service market in North America is driven by the factors such as rising industrialization across the region and increasing focus on reducing energy costs. The other factors such as increasing distributed energy sources, reducing renewable power generation cost, and government support in form of rebates and tax benefits for new energy efficiency projects are projected to drive the scope of energy as a service market in North America during the forecast period. Furthermore, the North American energy as a service market is significantly driven by the increasing focus of end-users towards maintaining energy consumption. For instance, WGL Energy Systems (WGL Energy) offers the Resilient Energy Supply Node (RESNode), an EaaS solution that is intended to offer the US Department of Defense considerable flexibility in securing cyber secure, highly dependable, and grid-independent electricity generation.
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The North American EaaS market is hardly hit by the impact of the COVID-19 pandemic. Most of the manufacturing units were shut down during the initial months of the COVID-19 across the major economies in North America. Lockdowns imposed by the governments regarding the COVID-19 outbreak have not only affected manufacturing however also affected the upcoming energy efficiency projects for renewable energy generation. Due to which the market experienced a decline in growth.
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North American Energy as a Service (EaaS) Market Segmentation
By Type
- Power Generation Services
- Operational and Maintenance Services
- Energy Efficiency and Optimization Services
By End-User
- Commercial
- Industrial
- Others (Government)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
