The global electric service companies market size was valued at $25.2 billion in 2020 and is expected to reach $49.6 billion by 2030. The market is projected to experience growth at a CAGR of 6.5% from 2021 to 2030. The electric service companies market is fragmented in nature; however, it has large base in North America. This can be attributed to several mandates imposed by the North American government. The market is projected to grow exponentially with increased investments pouring in the industry. However, higher initial cost involved in initial setup often discourages the market growth acting as a market restraint
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The ESCO market was hit on a larger scale as many medium & small-scale organizations diverted funds toward survival and fixed costs. Many projects that were to be implemented came to a halt as initial investment in the projects required high initiation costs. This led to companies delaying or overall cancelling the projects. However, according to AMR analysis, the market is set for recovery during late 2021, and thus witness positive growth by 2022.
Top Key Players in the electric service companies market:
Schneider Electric
General Electric
Siemens
Honeywell
Johnson Controls
Orsted
Eaton Corporation
Alpiq
Enel X
Veolia
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Key findings of the study
The global electric service companies market is provided in terms of revenue
The U.S. is projected to grow at the highest CAGR of approximately 6.7%, in terms of revenue, during the forecast period
By customer type, the industrial segment is anticipated to grow with CAGR 6.6%, in terms of revenue, during the forecast period
The U.S. and China dominated the market with a revenue share of over 26.5% and 57.5% in 2018
A comprehensive analysis of the factors that drive and restrain the electric service companies market growth is provided
The qualitative data in this report aims at the market trends, dynamics, and developments in the electric service companies industry
The electric service companies market forecast and estimations are based on factors impacting the market growth
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.