How Big Is the Energy Services Market | Segments & Insights 2031

Q: What is driving demand in the energy services market?

The demand is driven by rising energy costs, sustainability goals, and a global push for energy efficiency across sectors.

Q: Which sectors are adopting energy services the most?

Commercial buildings, industrial manufacturing, government facilities, and healthcare institutions are major adopters.

Q: What are the upcoming innovations in the energy services space?

Technological advances in AI-based energy monitoring, smart grids, and IoT-driven consumption control are reshaping the industry.

Q: What is the energy services market size?

The energy services market is expected to exceed USD 139.5 billion by 2031.

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6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA6375

Publication Date: Jul 2025

How Big Is the Energy Services Market?

According to 6Wresearch internal database and industry insights, the energy services market was valued at USD 84.7 billion in 2024 and is projected to surpass USD 139.5 billion by 2031, growing at a CAGR of 7.7% during the forecast period.

Key growth factors include rising emphasis on energy efficiency across industries, escalating energy costs, stringent carbon emission regulations, and the growing adoption of energy performance contracting (EPC) models in both public and private sectors.

Growth Factors of the Energy Services Market

Energy efficiency and decarbonization government policies.
Increased operating cost pressures driving the demand for outsourced and remote energy management services.
Integration of AI, IoT and smart metering in building energy management practices.
Increasing interest in transitioning to sustainable energy and net-zero carbon operations in industrial market segments.
Adoption of performance-based energy savings contracts is increasing in developing and developed economies.
High energy intensity in sectors like manufacturing, hospitality, and commercial real estate.

Energy Services Market Trends

Energy Services Market is experiencing the early stages of a transition to digital energy optimization, with smart analytics and AI driven energy audits now common. There is rapid growth in Energy Services Companies (ESCOs) offering integrated energy partnerships, and the decarbonization of building practices and bundling of energy services with renewable infrastructure are driving substantial changes in the industry. Furthermore, the development of public-private partnerships and government funded energy retrofit projects are opening longer-term contracting opportunities.

Emerging Developments in Energy Services Market

Energy Services Market is witnessing increased collaboration between utility companies and tech firms to offer holistic energy-as-a-service models. There is continued movement in the direction of decentralized energy services including microgrid and off-grid services. Blockchain-based energy transactions and demand response are also being adopted more regularly within the Energy Services Market as new methods of providing energy service, and allowing providers to monetize these energy services.