Energy Consulting Global Market Report 2024

The energy consulting market size has grown strongly in recent years. It will grow from $16.76 billion in 2023 to $17.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed in the historic period can be attributed to several factors, including the renewable energy revolution, concerns about energy security, the liberalization and deregulation of energy markets, increasing environmental awareness, and the rising prominence of electricity as a primary energy source. These factors collectively contributed to significant advancements and developments in the energy consulting industry during this period.

The energy consulting market size is expected to see steady growth in the next few years. It will grow to $21.17 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The anticipated growth in the forecast period is expected to be driven by various factors, including the ongoing energy transition towards cleaner sources, the pursuit of decarbonization goals, the emergence of energy-as-a-service models, advancements in industrial processes, and increased government regulations promoting sustainability. Major trends projected for the forecast period include the development of innovative solutions for energy efficiency, accelerated deployment of renewable energy sources, modernization of grid infrastructure, adoption of smart grid systems, digitalization of energy systems, and advancements in carbon capture, utilization, and storage (CCUS) technologies. These trends collectively indicate significant growth opportunities and advancements in the energy consulting industry in the coming years.

The surge in demand for energy efficiency is poised to fuel growth in the energy consulting market. As businesses, governments, and individuals seek to minimize waste and reduce energy consumption, there's a heightened emphasis on adopting energy-efficient solutions to address environmental sustainability, lower energy costs, and conserve natural resources. Energy consulting plays a crucial role in this landscape, involving the analysis and optimization of energy usage across various facilities to achieve cost savings and environmental benefits. Notably, data from the International Energy Agency (IEA) underscores the significance of energy efficiency, with improvements observed in recent years and projected growth despite challenges in energy demand.

To meet the evolving needs of clients, major players in the energy consulting sector are prioritizing the development of advanced technological solutions. Power system analysis software stands out as a critical tool for optimizing electrical grids, enabling engineers to analyze complex power flow, stability, and fault scenarios. For instance, GE Vernova's launch of the re-envisioned Positive Sequence Load Flow Analysis (PSLF) software exemplifies this trend. This software empowers engineers with faster and more efficient power system modeling capabilities, facilitating economic dispatch, power transfer simulations, and in-depth research into power system behavior. With enhanced data editing features, improved visualization, and innovative capabilities, such as drag-and-drop functionality, the re-envisioned PSLF software offers a comprehensive solution for system planners and operators.

In January 2024, SLR Consulting strengthened its position in the energy consulting market through the acquisition of ITPEnergised. This strategic move combines ITPEnergised's technical advisory services with SLR's environmental and technical consultancy expertise, forming one of the largest consultancies dedicated to serving the renewables sector. ITPEnergised brings specialized expertise in energy, environmental, engineering, and planning sectors, complementing SLR's capabilities and expanding its footprint in the renewables industry.

Major companies operating in the energy consulting market are Accenture plc, Schneider Electric SE, Arthur D. Little Inc., Tradition Energy, Stantec Inc., AFRY AB, Arup Group Limited, Ramboll Group, ICF International Inc., Enel X, Clearway Energy Group LLC, The ERM International Group Limited, Golder Associates, RPS Group PLC, NV5 Global Inc., ENGIE Impact, ISG Enterprise Energy Solutions, Conservice LLC, NUS Consulting, Antea Group, The Consultus International Group, E&C Energy Consulting, Energy Edge Consulting LLC, Facility Engineering Associates P.C., American Utility Management Inc., Verde Solutions LLC, Iconergy Ltd., 360 Energy Group.

North America was the largest region in the energy consulting market in 2023. The regions covered in the energy consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the energy consulting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Energy consulting is the professional practice of analyzing and optimizing an organization's or individual's energy consumption to achieve various objectives such as reducing costs, improving efficiency, and promoting sustainability. This involves assessing current energy usage patterns, identifying opportunities for improvement, and developing tailored strategies and recommendations to minimize energy consumption. Energy consultants work closely with businesses, homeowners, and other stakeholders to develop comprehensive plans for reducing energy usage in buildings and facilities.

The main types of energy consulting encompass reducing energy costs and managing risks. Reducing energy costs involves minimizing energy consumption to achieve similar outcomes or tasks, thus decreasing energy bills and enhancing affordability. Energy consulting aims to assist businesses and organizations in optimizing energy usage and reducing overall energy expenses. These services and solutions can be deployed through on-premise, cloud, and hybrid models, catering to both large enterprises and small and medium enterprises (SMEs). Various end-user industries benefit from energy consulting, including banking, financial services, and insurance (BFSI), healthcare, energy and utilities, information technology and telecommunications, retail and e-commerce, manufacturing, government and defense, media and entertainment, among others.

The energy consulting research report is one of a series of new reports that provides energy consulting market statistics, including the energy consulting industry's global market size, regional shares, competitors with an energy consulting market share, detailed energy consulting market segments, market trends and opportunities, and any further data you may need to thrive in the energy consulting industry. This energy consulting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The energy consulting market includes revenues earned by entities providing services such as energy audits and assessments, energy management and planning, renewable energy integration, resilience planning, carbon footprints through emissions tracking, and sustainability initiatives. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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