PUBLISHER: KBV Research | PRODUCT CODE: 1661705
PUBLISHER: KBV Research | PRODUCT CODE: 1661705
North America Energy Storage As A Service Market Size, Share & Trends Analysis Report By End Use (Industrial, Residential & Commercial and Utility), By Service, By Country and Growth Forecast, 2024 - 2031
The North America Energy Storage As A Service Market would witness market growth of 9.7% CAGR during the forecast period (2024-2031).
The US market dominated the North America Energy Storage As A Service Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $699.9 million by 2031. The Canada market is experiencing a CAGR of 12% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 11.1% during (2024 - 2031).
The market is emerging as a transformative force in the energy sector, offering innovative solutions for efficient energy management and grid stability. With the increasing penetration of renewable energy sources, rising electricity costs, and growing concerns over carbon emissions, the demand for flexible and scalable energy storage solutions has intensified. ESaaS enables businesses, utilities, and residential consumers to access energy storage capabilities without requiring high upfront capital investments. Instead of purchasing expensive battery storage systems, users can subscribe to energy storage services tailored to their needs, providing benefits such as demand charge management, peak shaving, backup power, and grid optimization.
The ESaaS model is gaining traction due to its ability to offer cost-effective, sustainable, and technologically advanced energy solutions. The adoption of smart grids, demand response programs, and distributed energy resources (DERs) is further fuelling the expansion of this market. Moreover, technological advancements in battery storage, artificial intelligence (AI), and predictive analytics are enhancing the capabilities of ESaaS providers, making energy storage more efficient and accessible.
Efficient cogeneration and nuclear power require energy storage solutions for peak load management and backup power. ESaaS solutions enable industries to store excess energy, optimize energy consumption, and reduce reliance on fossil fuels. Canada's 1% annual increase in electricity demand from 2014 to 2040, driven largely by industrial consumption (0.7% growth per year), is creating a strong market for energy storage solutions. Canadian power producers are expanding renewable and conventional energy capacity to meet rising demand. ESaaS providers can support this growth by offering grid-scale and distributed energy storage solutions that enhance power reliability and reduce grid congestion risks. Thus, Mexico's clean energy targets and Canada's rising electricity demand are key drivers for the market's growth.
Based on End Use, the market is segmented into Industrial, Residential & Commercial and Utility. Based on Service, the market is segmented into Customer Energy Management Services, Ancillary Services, Bulk Energy Services, Transmission Infrastructure Services, Distribution Infrastructure Services, and Other Service. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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.
North America Energy Storage As A Service 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
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Energy Storage As A Service Market, by End Use
- 1.4.2 North America Energy Storage As A Service Market, by Service
- 1.4.3 North America Energy Storage As A Service Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 Market Share Analysis, 2023
- 4.2 Strategies Deployed in Energy Storage As A Service Market.
- 4.3 Porter Five Forces Analysis
Chapter 5. North America Energy Storage As A Service Market by End Use
- 5.1 North America Industrial, Residential & Commercial Market by Country
- 5.2 North America Utility Market by Country
Chapter 6. North America Energy Storage As A Service Market by Service
- 6.1 North America Customer Energy Management Services Market by Country
- 6.2 North America Ancillary Services Market by Country
- 6.3 North America Bulk Energy Services Market by Country
- 6.4 North America Transmission Infrastructure Services Market by Country
- 6.5 North America Distribution Infrastructure Services Market by Country
- 6.6 North America Other Service Market by Country
Chapter 7. North America Energy Storage As A Service Market by Country
- 7.1 US Energy Storage As A Service Market
- 7.1.1 US Energy Storage As A Service Market by End Use
- 7.1.2 US Energy Storage As A Service Market by Service
- 7.2 Canada Energy Storage As A Service Market
- 7.2.1 Canada Energy Storage As A Service Market by End Use
- 7.2.2 Canada Energy Storage As A Service Market by Service
- 7.3 Mexico Energy Storage As A Service Market
- 7.3.1 Mexico Energy Storage As A Service Market by End Use
- 7.3.2 Mexico Energy Storage As A Service Market by Service
- 7.4 Rest of North America Energy Storage As A Service Market
- 7.4.1 Rest of North America Energy Storage As A Service Market by End Use
- 7.4.2 Rest of North America Energy Storage As A Service Market by Service
Chapter 8. Company Profiles
- 8.1 Siemens Energy AG
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expenses
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Partnerships, Collaborations, and Agreements:
- 8.1.6 SWOT Analysis
- 8.2 Veolia Environnement S.A.
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research & Development Expenses
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Acquisition and Mergers:
- 8.2.6 SWOT Analysis
- 8.3 Honeywell International, Inc.
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expenses
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Partnerships, Collaborations, and Agreements:
- 8.3.5.2 Product Launches and Product Expansions:
- 8.3.6 SWOT Analysis
- 8.4 Tesla, Inc.
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expense
- 8.4.5 SWOT Analysis
- 8.5 NextEra Energy, Inc.
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental Analysis
- 8.5.4 Recent strategies and developments:
- 8.5.4.1 Partnerships, Collaborations, and Agreements:
- 8.6 Generac Holdings, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental Analysis
- 8.6.4 Research & Development Expenses
- 8.6.5 Recent strategies and developments:
- 8.6.5.1 Acquisition and Mergers:
- 8.6.6 SWOT Analysis
- 8.7 Engie SA
- 8.7.1 Company Overview
- 8.8 Customized Energy Solutions Ltd.
- 8.8.1 Company Overview
- 8.9 SREIL Energy
- 8.9.1 Company Overview
- 8.10. Hydrostor Inc.
- 8.10.1 Company Overview
LIST OF TABLES
- TABLE 1 North America Energy Storage As A Service Market, 2020 - 2023, USD Million
- TABLE 2 North America Energy Storage As A Service Market, 2024 - 2031, USD Million
- TABLE 3 North America Energy Storage As A Service Market by End Use, 2020 - 2023, USD Million
- TABLE 4 North America Energy Storage As A Service Market by End Use, 2024 - 2031, USD Million
- TABLE 5 North America Industrial, Residential & Commercial Market by Country, 2020 - 2023, USD Million
- TABLE 6 North America Industrial, Residential & Commercial Market by Country, 2024 - 2031, USD Million
- TABLE 7 North America Utility Market by Country, 2020 - 2023, USD Million
- TABLE 8 North America Utility Market by Country, 2024 - 2031, USD Million
- TABLE 9 North America Energy Storage As A Service Market by Service, 2020 - 2023, USD Million
- TABLE 10 North America Energy Storage As A Service Market by Service, 2024 - 2031, USD Million
- TABLE 11 North America Customer Energy Management Services Market by Country, 2020 - 2023, USD Million
- TABLE 12 North America Customer Energy Management Services Market by Country, 2024 - 2031, USD Million
- TABLE 13 North America Ancillary Services Market by Country, 2020 - 2023, USD Million
- TABLE 14 North America Ancillary Services Market by Country, 2024 - 2031, USD Million
- TABLE 15 North America Bulk Energy Services Market by Country, 2020 - 2023, USD Million
- TABLE 16 North America Bulk Energy Services Market by Country, 2024 - 2031, USD Million
- TABLE 17 North America Transmission Infrastructure Services Market by Country, 2020 - 2023, USD Million
- TABLE 18 North America Transmission Infrastructure Services Market by Country, 2024 - 2031, USD Million
- TABLE 19 North America Distribution Infrastructure Services Market by Country, 2020 - 2023, USD Million
- TABLE 20 North America Distribution Infrastructure Services Market by Country, 2024 - 2031, USD Million
- TABLE 21 North America Other Service Market by Country, 2020 - 2023, USD Million
- TABLE 22 North America Other Service Market by Country, 2024 - 2031, USD Million
- TABLE 23 North America Energy Storage As A Service Market by Country, 2020 - 2023, USD Million
- TABLE 24 North America Energy Storage As A Service Market by Country, 2024 - 2031, USD Million
- TABLE 25 US Energy Storage As A Service Market, 2020 - 2023, USD Million
- TABLE 26 US Energy Storage As A Service Market, 2024 - 2031, USD Million
- TABLE 27 US Energy Storage As A Service Market by End Use, 2020 - 2023, USD Million
- TABLE 28 US Energy Storage As A Service Market by End Use, 2024 - 2031, USD Million
- TABLE 29 US Energy Storage As A Service Market by Service, 2020 - 2023, USD Million
- TABLE 30 US Energy Storage As A Service Market by Service, 2024 - 2031, USD Million
- TABLE 31 Canada Energy Storage As A Service Market, 2020 - 2023, USD Million
- TABLE 32 Canada Energy Storage As A Service Market, 2024 - 2031, USD Million
- TABLE 33 Canada Energy Storage As A Service Market by End Use, 2020 - 2023, USD Million
- TABLE 34 Canada Energy Storage As A Service Market by End Use, 2024 - 2031, USD Million
- TABLE 35 Canada Energy Storage As A Service Market by Service, 2020 - 2023, USD Million
- TABLE 36 Canada Energy Storage As A Service Market by Service, 2024 - 2031, USD Million
- TABLE 37 Mexico Energy Storage As A Service Market, 2020 - 2023, USD Million
- TABLE 38 Mexico Energy Storage As A Service Market, 2024 - 2031, USD Million
- TABLE 39 Mexico Energy Storage As A Service Market by End Use, 2020 - 2023, USD Million
- TABLE 40 Mexico Energy Storage As A Service Market by End Use, 2024 - 2031, USD Million
- TABLE 41 Mexico Energy Storage As A Service Market by Service, 2020 - 2023, USD Million
- TABLE 42 Mexico Energy Storage As A Service Market by Service, 2024 - 2031, USD Million
- TABLE 43 Rest of North America Energy Storage As A Service Market, 2020 - 2023, USD Million
- TABLE 44 Rest of North America Energy Storage As A Service Market, 2024 - 2031, USD Million
- TABLE 45 Rest of North America Energy Storage As A Service Market by End Use, 2020 - 2023, USD Million
- TABLE 46 Rest of North America Energy Storage As A Service Market by End Use, 2024 - 2031, USD Million
- TABLE 47 Rest of North America Energy Storage As A Service Market by Service, 2020 - 2023, USD Million
- TABLE 48 Rest of North America Energy Storage As A Service Market by Service, 2024 - 2031, USD Million
- TABLE 49 Key Information - Siemens Energy AG
- TABLE 50 Key Information - Veolia Environnement S.A.
- TABLE 51 Key Information - Honeywell International, Inc.
- TABLE 52 key Information - Tesla, Inc.
- TABLE 53 Key Information - NextEra Energy, Inc.
- TABLE 54 Key Information - Generac Holdings, INC.
- TABLE 55 Key Information - Engie SA
- TABLE 56 Key Information - Customized Energy Solutions Ltd.
- TABLE 57 Key Information - SREIL Energy
- TABLE 58 Key Information - Hydrostor Inc.
LIST OF FIGURES
- FIG 1 Methodology for the research
- FIG 2 North America Energy Storage As A Service Market, 2020 - 2031, USD Million
- FIG 3 Key Factors Impacting Energy Storage As A Service Market
- FIG 4 Market Share Analysis, 2023
- FIG 5 Porter's Five Forces Analysis - Energy Storage As A Service Market
- FIG 6 North America Energy Storage As A Service Market share by End Use, 2023
- FIG 7 North America Energy Storage As A Service Market share by End Use, 2031
- FIG 8 North America Energy Storage As A Service Market by End Use, 2020 - 2031, USD Million
- FIG 9 North America Energy Storage As A Service Market share by Service, 2023
- FIG 10 North America Energy Storage As A Service Market share by Service, 2031
- FIG 11 North America Energy Storage As A Service Market by Service, 2020 - 2031, USD Million
- FIG 12 North America Energy Storage As A Service Market share by Country, 2023
- FIG 13 North America Energy Storage As A Service Market share by Country, 2031
- FIG 14 North America Energy Storage As A Service Market by Country, 2020 - 2031, USD Million
- FIG 15 SWOT Analysis: Siemens Energy AG
- FIG 16 SWOT Analysis: Veolia Environnement S.A.
- FIG 17 Recent strategies and developments: Honeywell international, inc.
- FIG 18 SWOT Analysis: Honeywell international, inc.
- FIG 19 SWOT Analysis: Tesla, Inc.
- FIG 20 SWOT Analysis: Generac Holdings, Inc.
