The industrial energy efficiency services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Industrial Energy Efficiency Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The industrial energy efficiency services market size has grown strongly in recent years. It will grow from $10.42 billion in 2023 to $11.03 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to government regulations, rising energy costs, industrial growth, rising environmental awareness, and demand for renewable energy integration.
The industrial energy efficiency services market size is expected to see strong growth in the next few years. It will grow to $13.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising energy prices, climate change awareness, government energy policies, energy efficiency standards, and industrial competitiveness. Major trends in the forecast period include technological advancements, demand for energy management solutions, emergence of smart cities, partnerships and collaborations, and adoption of distributed energy resources (DER).
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Scope Of Industrial Energy Efficiency Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Industrial Energy Efficiency Services Market Overview
Market Drivers –
The growing focus on decarbonization is expected to propel the growth of the industrial energy efficiency services market going forward. Decarbonization refers to the process of reducing or eliminating carbon dioxide (CO2) emissions from various sectors of the economy, particularly in energy production, transportation, and industry. The focus on decarbonization is due to the urgent need to mitigate climate change and the increasing regulatory pressures that mandate lower greenhouse gas emissions. Industrial energy efficiency services play a crucial role in decarbonization by helping industries reduce their energy consumption, lower greenhouse gas (GHG) emissions, and transition to cleaner, more sustainable operations. For instance, in April 2024, according to the United States Department of Energy, a US-based government department, the U.S. developed a blueprint to decarbonize U.S. buildings, targeting a 65% reduction in greenhouse gas emissions by 2035 and a 90% reduction by 2050. Therefore, a growing focus on decarbonization is driving the growth of the industrial energy efficiency services market.
Market Trends –
Major companies operating in the industrial energy efficiency services market are focusing on developing innovative solutions, such as industrial energy-efficient manufacturing technologies, to enhance offerings and meet the growing demand for sustainable solutions. Industrial energy-efficient manufacturing technologies refer to advanced methods and systems designed to reduce energy consumption and improve efficiency in manufacturing processes. For instance, in August 2024, VTT Technical Research Centre of Finland, a Finland-based limited liability company, launched the Energy First initiative, a collaborative project to develop sustainable, energy-efficient, and recyclable fiber-based products for the forestry and textile industries. This initiative is designed to address significant energy and resource consumption challenges in these sectors. The primary goals are to reduce water consumption by up to 90% and energy use by 50% while creating viable alternatives for cardboard packaging, hygiene products, and non-woven fabrics. The initiative aligns with EU sustainability directives, enhancing resource efficiency and promoting recyclable materials in the forestry and textile industries.
The industrial energy efficiency services market covered in this report is segmented –
1) By Type: Energy Auditing Or Consulting, Product And System Optimization, Monitoring And Verification, Energy Management Software
2) By Service Type: Outsourced, In-House
3) By Application: Petrochemical, Chemical Industry, Electric Power, Textile, Building Materials, Mining, Manufacturing, Food And Beverage
4) By End-User: Commercial, Industrial
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Regional Insights –
North America was the largest region in the industrial energy efficiency services market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial energy efficiency services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the industrial energy efficiency services market are Enel Spa, Electricite de France SA, Tata Group, Engie SA, Siemens AG, Schneider Electric, Mitsubishi Electric Corporation, Honeywell International Inc., KPMG International Limited, Johnson Controls, Trane Technologies plc, AECOM Technology Corporation, Bain & Company, DuPont de Nemours Inc., WSP Global Inc., Dalkia, DNV Group AS, Ameresco Inc., Voltas Limited, SGS Group, Getec, Alien Energy Private Limited, Smart Joules Private Limited, Econoler Inc.
Table of Contents
1. Executive Summary
2. Industrial Energy Efficiency Services Market Report Structure
3. Industrial Energy Efficiency Services Market Trends And Strategies
4. Industrial Energy Efficiency Services Market – Macro Economic Scenario
5. Industrial Energy Efficiency Services Market Size And Growth
…..
27. Industrial Energy Efficiency Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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