Europe EaaS market is projected to grow at a modest CAGR of around 14.8% during the forecast period (2021-2027). The EaaS market growth in European countries is mainly driven by the factors such as rising preference towards decentralization power generation, low-cost renewable power generation, and increase in digitalization and transformation in power sectors. The advancement in smart monitoring systems has resulted in their increased adoption in energy sectors to continuous monitoring of energy consumption. The presence of major players such as Engie, Siemens, Jonhson Control, Alpid, and Enel X, among others in the region and their contribution to offer highly efficient services to their customers also propelling the market growth. The rising need to overcome the dependence on non-renewable energy resources to reduce carbon emission has increased the demand for renewable energy sources, which in turn, accelerates the market growth. However, the lack of skilled persons and challenges related to the deployment and integration of energy models are the factors projected to hamper the growth of the market in Europe during the forecast period.
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The Europe EaaS market is hardly hit by the impact of the COVID-19 pandemic, due pandemic various sectors such as industrial, commercial, transportation, construction, and others were closed regarding the lockdown imposed by the government in major economies, this led to less energy consumption by these sectors. Disruptions in multiple supply chains across a variety of sectors occurred, especially at the beginning of the crisis, hence the market registered a decline in growth. In addition, delayed energy efficiency projects, owing to a temporary shutdown, resulting in low revenue generation for the manufacturers. Post Covid-19, the market will experience V-Shape recovery from the crises.
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A full Report of Europe Energy as a Service (EaaS) Market is Available at: https://www.omrglobal.com/industry-reports/europe-energy-as-a-service-eaas-market
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.)
