Overview and Scope
Energy consulting refers to the professional practice of analyzing and optimizing an organization's energy consumption to reduce costs, improve efficiency, and promote sustainability. It helps businesses or homeowners develop a plan for reducing energy consumption in their buildings.
Sizing and Forecast
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 in the historic period can be attributed to renewable energy revolution, energy security concerns, energy liberalization and deregulation, environmental concerns, rise of electricity.
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 growth in the forecast period can be attributed to energy transition, decarbonization goals, energy-as-a-service models, industrial revolution, increased government regulations. Major trends in the forecast period include innovative solutions for energy efficiency, renewable energy deployment, grid modernization, smart grid systems, digitalization, carbon capture, utilization, and storage (CCUS).
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Segmentation & Regional Insights
The energy consulting market covered in this report is segmented –
1) By Type: Reducing Energy Costs, Managing Risks
2) By Component: Solution, Services
3) By Deployment Model: On-Premise, Cloud, Hybrid
4) By Application: Large Enterprises, Small And Medium Enterprises (SMEs)
5) By Industry: Banking, Financial Services And Insurance (BFSI), Healthcare, Energy And Utility, Information Technology And Telecommunication, Retail And E-Commerce, Manufacturing, Government And Defense, Media And Entertainment, Other Industries,
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.
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Major Driver Impacting Market Growth
The increasing demand for energy efficiency is expected to propel the growth of the energy consulting market going forward. Energy efficiency is the measure of how effectively a system or device converts input energy into useful output while minimizing waste. Businesses, governments, and individuals demand energy-efficient solutions to cut carbon emissions, conserve natural resources, and reduce energy usage as environmental sustainability, energy costs, and resource conservation concern continues to grow. Energy efficiency consulting involves the analysis and optimization of energy usage in various facilities to reduce energy consumption and costs while improving environmental impact. For instance, in November 2023, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, energy efficiency improved significantly by 2% in 2022, and it's projected to drop to 1.3% in 2023. Moreover, a 1.7% rise in energy demand in 2023 compared to 1.3% in 2022 is mostly responsible for the lower energy intensity improvement rate. Therefore, the increasing demand for energy efficiency is driving the growth of the energy consulting market.
Key Industry Players
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
The energy consulting market report table of contents includes:
1. Executive Summary
2. Energy Consulting Market Characteristics
3. Energy Consulting Market Trends And Strategies
4. Energy Consulting Market - Macro Economic Scenario
5. Global Energy Consulting Market Size and Growth
....
32. Global Energy Consulting Market Competitive Benchmarking
33. Global Energy Consulting Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Energy Consulting Market
35. Energy Consulting Market Future Outlook and Potential Analysis
36. Appendix
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