Energy ESO Market Size, Share, Trends, Growth 2032

Energy ESO Industry Prospective:

The global energy ESO market size was evaluated at $386 billion in 2023 and is slated to hit $1,735 billion by the end of 2032 with a CAGR of nearly 18% between 2024 and 2032.

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Energy ESO Market: Overview

Energy ESO is referred to as energy engineering services outsourcing that includes hiring external experts to effectively handle tasks pertaining to designing, assessing, and improving energy systems. This approach assists firms in tapping into special skills and new technologies without the requirement of in-house skilled personnel. Key advantages provided by energy ESO include access to highly skilled persons with knowledge in management, renewable tools, energy auditing, and efficiency analysis.

Key Insights

• As per the analysis shared by our research analyst, the global energy ESO market is projected to expand annually at the annual growth rate of around 4% over the forecast timespan (2024-2032)
• In terms of revenue, the global energy ESO market size was evaluated at nearly $27 billion in 2023 and is expected to reach $39 billion by 2032.
• The global energy ESO market is anticipated to grow rapidly over the forecast timeline owing to a surging focus on the use of sustainable energy solutions and focus on core competencies.
• In terms of type, the structuring & layout segment is slated to dominate the segmental space over the forecast period.
• Based on energy source, the renewable segment is predicted to dominate the global industry surge in the ensuing years.
• Based on location, the onshore segment is projected to record fastest CAGR over 2024-2032.
• Region-wise, the European energy ESO industry is projected to register the fastest CAGR during the assessment timespan.

Energy ESO Market: Growth Factors

Highlight on renewable energy trends to boost the expansion of the global market

Surging focus on the use of sustainable energy solutions and focus on core competencies will steer the global energy ESO market demand. Reportedly, ESO provides high-cost advantages in comparison to the maintenance of in-house engineering teams. Moreover, access to specialized experts will scale up the growth of the market globally.

In addition, rapid turnaround time for projects than in-house teams is likely to proliferate the size of the global market. Flourishing renewable energy sector will translate into humungous demand for energy ESO in the years ahead. Outsourcing engineering services can help in reducing risks related to project execution. This, in turn, will promote the growth of the market globally. 

Energy ESO Market: Restraints

Growing intellectual property rights violations can retard the growth of the global industry

Data security and patent rights violations can impede the growth of the global energy ESO industry. Moreover, communication as well as coordination issues are likely to obstruct the global industry surge in the years ahead. Over-dependence on ESO service providers can make firms vulnerable if service providers cannot deliver on time, thereby retarding the global industry expansion.

Energy ESO Market: Opportunities

A surge in strategic alliances to transform into a huge expansion of the market globally

Niche specialization and access to tech-savvy solutions are expected to generate new opportunities for growth for the global energy ESO market. An increase in strategic partnerships & joint ventures will propel the global market landscape. High demand for sustainable energy practices will carve a profitable growth graph for the global market.

Energy ESO Market: Challenges

Strict legislation regulating use of energy ESO can obstruct the global industry expansion over forecast period

Quality control issues and cultural barriers can challenge the expansion of the global energy ESO industry. Cut-throat competition among service providers is likely to impact the global industry revenue in the years ahead. Strict laws governing outsourcing of engineering services can downsize the global industry expansion in the upcoming years.

Energy ESO Market: Report Scope

Energy ESO Market: Segmentation

The global energy ESO market is divided into service, energy source, location, and region.                                                     

In terms of service, the energy ESO market across the globe is segmented into research & development and design, digitization, structuring & layout, and implementation & maintenance segments. The structuring & layout segment is likely to be the leading segment during the forecast timeline. The rapid growth of this segment can be attributed to the need for improving project efficacy along with a high focus on optimizing operational efficacy. Development of large-scale infrastructural projects requiring special engineering services will drive the segmental expansion.

On the basis of energy source, the global energy ESO industry is bifurcated into renewable, chemical processing, and non-renewable segments. Furthermore, the renewable segment is likely to dominate the growth of the global industry in the coming eight years. The key factors driving the expansion of the segment are a surging shift towards renewables, swift expansion of renewable energy capacity, and technological breakthroughs in renewables. Additionally, a reduction in the costs of renewable energy is expected to boost the segmental surge.

Based on the location, the global energy ESO industry is bifurcated into offshore and onshore segments. Moreover, the onshore segment is likely to record the fastest growth rate over 2024-2032 subject to high project volume, reduced project complexities, and availability of strong transport infrastructure facilities. Reduced costs of onshore projects translating into low operational costs are expected to propel the growth of the segment.

Energy ESO Market: Regional Insights

Asia-Pacific is predicted to retain number one position in the global market over the forecast timeline

Asia-Pacific, which accounted for approximately 51.9 % of the global energy ESO market earnings in 2023, is expected to maintain a leadership position during the period from 2024 to 2032. Apparently, a humungous expansion of the market in North America over the analysis timeline can be due to huge energy demand in Asian countries owing to swift economic development and industrialization.

Supportive government schemes and availability of skilled & cost-efficient labor. Surging fund allocation in the renewable energy sector, changing lifestyles, and thriving middle-income group population will propel the market growth in the region.

The European energy ESO industry is set to record the highest CAGR in the forecast period. The industry expansion in Europe can be credited to the strong focus of the EU on decarbonization and reduction of GHG emissions along with a focus on developing sustainable solutions. Presence of key industry players in the European countries will further drive the industry growth in Europe.

Energy ESO Market: Competitive Space

The global energy ESO market profiles key players such as:

• Altair Engineering Inc.
• TechnipFMC
• LUXOFT
• Alten Group
• Cyient
• Total Outsource Inc.
• Rilco Engineering Services
• WSP Global
• Jacobs Engineering
• Assystem
• Mott MacDonald
• Segula Technologies
• Quest Global
• Tetra Tech
• Bechtel
• SNC-Lavalin
• Fluor Corporation
• Worley
• Schneider Electric SE

The global energy ESO market is segmented as follows:

By Service

• Research & Development and Design
• Digitization
• Structuring & Layout
• Implementation & Maintenance

By Energy Source

• Renewable
• Chemical Processing
• Non-Renewable

By Location

• Offshore
•  Onshore

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa