The US EaaS market is anticipated to grow significantly at a CAGR of 15.1% during the forecast period (2021-2027). The EaaS market in the US is mainly driven by the increasing smart city projects, growing energy consumption, and surging government standards and initiatives. Due to the increased population, the energy demand is also increased in the US, which has led to the high requirement for energy maintaining and storage solutions. According to the American Geoscience Institute, in 2017, the per capita energy consumption in the US was around 300 million British thermal units (Btu). The industrial sector accounted for 32 % followed by transportation which is 29% and 20% and 18% from residential and commercial. Furthermore, the presence of major market players and their contribution towards the development of energy efficiency systems and solutions to provide cost-effective services also plays a major role in driving the market growth. For instance, in 2020, Nelnet Inc., has expanded its renewable energy commitment with the launch of community solar developers’ comprehensive and scalable subscriber acquisition, management, and support services. Through this service platform, various solar developers are now able to find subscribers for solar projects.
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Moreover, many players in the US are raising and investing funds for expanding their energy services and offerings to full-fill the market demand. In June 2019, Butterfly, secure $55 million as funding for the rapid expansion of energy efficiency as a service offering for commercial sectors in the US. The funding was led by Balance Point Capital with participation by Connecticut Innovations. The US is also adopting the pay-for-performance approach to reduce power consumption and increasing energy saving. Through this approach, energy consumption can be expected to lower by 15%. Considering these developments, considerable growth can be expected during the forecast period.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Type, By End-User
- Country Covered- US
- Competitive Landscape- EDF Trading Ltd., Edison International, General Electric, Carrier Global Corp., Honeywell International Inc., United Technologies Corp., Wendel Energy Services, among others.
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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?
Ø Recovery Timeline
Ø Deviation from the pre-COVID forecast.
Ø Most affected segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
US 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.)
