Electric service companies are entities that design, develop, and provide electric service or energy-saving services. The report on the electric service companies’ market focuses on the current market trends and future growth opportunities. The report focuses on customer types, such as residential, commercial, and industrial, providing deeper insights into the respective categories. Moreover, it analyzes the current market trends of electric service companies across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests future growth opportunities by analyzing the government regulations & policies, thereby increasing the consumer acceptance of electric service companies.
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The electric service companies market is fragmented
in nature; however, it has a 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
into the industry. However, the higher initial cost involved in initial setup
often discourages market growth acting as a market restraint.
To understand the market, drivers, restraints, and
opportunities are explained in the report. The major key players operating in
the industry include Schneider Electric, General Electric, Siemens, Honeywell,
Johnson Controls, Orsted, Eaton Corporation, Alpiq, Enel X, and Veolia.
Furthermore, the key strategies adopted by the potential market leaders include
expansion, mergers, and acquisition.
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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 the initial
investment in the projects required high initiation costs. This led to
companies delaying or overall canceling the projects. However, according to AMR
analysis, the market is set for recovery during late 2021, and thus witness
positive growth by 2022.
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 a CAGR
of 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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