The Europe Energy Storage As A Service Market is expected to witness market growth of 10.2% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Energy Storage As A Service Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $199 million by 2031. The UK market is exhibiting a CAGR of 9.3% during 2024-2031. Additionally, the France market is expected to experience a CAGR of 11% during 2024-2031.
ESaaS finds applications across multiple sectors, including commercial and industrial enterprises, utilities, residential consumers, and microgrids. Each sector utilizes energy storage differently to improve energy efficiency, enhance grid stability, and optimize electricity costs. Businesses with high energy consumption benefit significantly from ESaaS solutions. By leveraging stored energy during peak demand hours, businesses can reduce electricity costs associated with demand charges. Industrial facilities and data centers utilize ESaaS to provide uninterrupted power during outages. Many commercial buildings pair energy storage with solar PV systems to enhance energy independence and sustainability.
Utility companies increasingly use energy storage to enhance grid reliability and balance electricity supply and demand. ESaaS helps manage grid frequency and voltage fluctuations, improving overall stability. Stored energy can be deployed during peak demand periods, reducing grid stress. Utilities use ESaaS for frequency regulation, voltage support, and spinning reserves.
The steady increase in European households, reaching 26.1 million in 2020 (+5.7%), along with the rise in mean equivalized net income to EUR 19,528 in 2019 (+7.2% over the 2010-2019 period), is fueling demand for cost-effective energy solutions. With more households consuming electricity for heating, cooling, and EV charging, the need for efficient energy storage solutions is growing. ESaaS enables homeowners to store excess energy during off-peak hours and use it when demand spikes, reducing electricity costs. In conclusion, the EU’s massive investment in energy-efficient housing, social housing projects, and rising household numbers is accelerating the demand for ESaaS.
The Germany market dominated the Europe Energy Storage As A Service Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $199 million by 2031. The UK market is exhibiting a CAGR of 9.3% during 2024-2031. Additionally, the France market is expected to experience a CAGR of 11% during 2024-2031.
ESaaS finds applications across multiple sectors, including commercial and industrial enterprises, utilities, residential consumers, and microgrids. Each sector utilizes energy storage differently to improve energy efficiency, enhance grid stability, and optimize electricity costs. Businesses with high energy consumption benefit significantly from ESaaS solutions. By leveraging stored energy during peak demand hours, businesses can reduce electricity costs associated with demand charges. Industrial facilities and data centers utilize ESaaS to provide uninterrupted power during outages. Many commercial buildings pair energy storage with solar PV systems to enhance energy independence and sustainability.
Utility companies increasingly use energy storage to enhance grid reliability and balance electricity supply and demand. ESaaS helps manage grid frequency and voltage fluctuations, improving overall stability. Stored energy can be deployed during peak demand periods, reducing grid stress. Utilities use ESaaS for frequency regulation, voltage support, and spinning reserves.
The steady increase in European households, reaching 26.1 million in 2020 (+5.7%), along with the rise in mean equivalized net income to EUR 19,528 in 2019 (+7.2% over the 2010-2019 period), is fueling demand for cost-effective energy solutions. With more households consuming electricity for heating, cooling, and EV charging, the need for efficient energy storage solutions is growing. ESaaS enables homeowners to store excess energy during off-peak hours and use it when demand spikes, reducing electricity costs. In conclusion, the EU’s massive investment in energy-efficient housing, social housing projects, and rising household numbers is accelerating the demand for ESaaS.
List of Key Companies Profiled
- Siemens Energy AG
- Veolia Environnement S.A.
- Honeywell International Inc.
- Tesla, Inc.
- NextEra Energy, Inc.
- Generac Holdings, Inc.
- Engie SA
- Customized Energy Solutions Ltd.
- SREIL Energy
- Hydrostor Inc.
Market Report Segmentation
By End Use
- Industrial, Residential & Commercial
- Utility
By Service
- Customer Energy Management Services
- Ancillary Services
- Bulk Energy Services
- Transmission Infrastructure Services
- Distribution Infrastructure Services
- Other Service
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Europe Energy Storage As A Service Market by End Use
Chapter 6. Europe Energy Storage As A Service Market by Service
Chapter 7. Europe Energy Storage As A Service Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Siemens Energy AG
- Veolia Environnement S.A.
- Honeywell International Inc.
- Tesla, Inc.
- NextEra Energy, Inc.
- Generac Holdings, Inc.
- Engie SA
- Customized Energy Solutions Ltd.
- SREIL Energy
- Hydrostor Inc.
Methodology
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