Rockville, Aug. 14, 2023 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, in its newly published research report, reveals that the global energy-as-a-service market reached US$ 64 billion in 2022. Worldwide demand for energy-as-a-service is anticipated to reach a market valuation of US$ 179 billion by 2033.
Energy-as-a-service is a newly developed and swiftly growing model that provides several energy optimization solutions for large, medium, and small businesses. Further, it also helps in a significant increase in the installation of various distributed energy generation resources.
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Increasing use of renewable energy sources to generate energy and a growing number of energy efficiency activities in various end-use industries are driving market expansion. Rising adoption of renewable energy sources and the installation of smart grids are expected to create lucrative opportunities for players in the market.
|Forecast Period||2023 – 2033|
|Value Projection (2033)||US$ 179 Billion|
|Growth Rate (2023-2033)||9.8% CAGR|
|No. of Pages||170 pages|
|No. of Tables||25 Tables|
|No. of Figures||132 Figures|
Key Takeaways from Market Study
- The global energy-as-a-service market was valued at US$ 64 billion in 2022.
- Worldwide demand for energy-as-a-service models stands at a market value of US$ 70.2 billion in 2023.
- The global market is forecasted to expand at a high-value CAGR of 9.8% from 2023 to 2033.
- Sales of energy-as-a-service systems are projected to reach US$ 179 billion by the end of 2033.
- Demand for energy supply services is predicted to increase at a CAGR of 8.5% and reach US$ 55 billion by 2033-end.
- The United States market was sized at US$ 25 billion in 2022.
- The market in Japan is forecasted to expand at a CAGR of 8.4% through 2033.
“The global market is being driven by several factors, including significant increase in the…