What is the global market size of Industrial Energy Audit Services Market?

Industrial Energy Audit Services Market size was valued at USD 14.40 billion in 2021 and is poised to grow from USD 15.35 billion in 2022 to USD 24.01 billion by 2030, at a CAGR of 6.6% during the forecast period (2023-2030).

Global Industrial Energy Audit Services Market

Industrial Energy Audit Services Market Size, Share, Growth Analysis, By Type(Process, Electrical, Mechanical, Building), By End Use(Manufacturing, Power Generation, Petrochemicals, Mining), By Region - Industry Forecast 2024-2031

Report ID: SQMIG10B2053 | Region: Global | Published Date: April, 2024
Pages: 178 | Tables: 65 | Figures: 77

Industrial Energy Audit Services Market News

In March 2023, A new investment by Honeywell may allow the United States to access 10% more power capacity.

In July 2022, Honeywell stated that its venture arm, Honeywell Ventures, had contributed to the Series B round of financing for Electric Hydrogen. Honeywell Ventures invests in early-stage, high-growth businesses that offer transformative and developing technologies.

In June 2022, Electrify America is worth $2.45 billion thanks to Volkswagen's $450 million investment alongside Siemens, the top global technology business.

Industrial Energy Audit Services Market Report Snapshots

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Industrial Energy Audit Services Market size was valued at USD 15.35 billion in 2022 and is poised to grow from USD 16.36 billion in 2023 to USD 27.28 billion by 2031, growing at a CAGR of 6.60% during the forecast period (2024-2031).

These companies are competing on the basis of several factors, including service offerings, pricing, quality, and brand reputation. Some of the key strategies adopted by these companies to maintain their competitive edge include mergers and acquisitions, partnerships, and collaborations. 'DNV GL (Norway)', 'Bureau Veritas (France)', 'Schneider Electric (France)', 'Siemens AG (Germany)', 'ABB Group (Switzerland)', 'Intertek Group plc (United Kingdom)', 'SGS SA (Switzerland)', 'General Electric (United States)', 'Johnson Controls International plc (Ireland)', 'Honeywell International Inc. (United States)', 'Veolia Environnement (France)', 'Trane Technologies plc (Ireland)', 'Rockwell Automation Inc. (United States)', 'Yokogawa Electric Corporation (Japan)', 'Mitsubishi Electric Corporation (Japan)', 'Emerson Electric Co. (United States)', 'E. ON SE (Germany)', 'Eaton Corporation plc (Ireland)', 'L&T Technology Services Limited (India)', 'TÜV Rheinland (Germany)', 'WSP Inc. (Canada)', 'ENGIE (France)'

The rising costs of energy and increasing environmental concerns are driving the demand for energy efficiency across various industries. Industrial energy audit services can help companies identify areas of energy waste and inefficiency, develop strategies to optimize energy use, and reduce energy costs.

Companies are placing greater emphasis on sustainability and environmental performance, driven by stakeholder expectations and regulatory requirements. This is driving the demand for industrial energy audit services that can help companies reduce their energy consumption and carbon emissions.

In 2021, The Asia Pacific region is the fastest-growing market for industrial energy audit services, with a CAGR of 8.6%. The increasing industrialization in countries such as China and India have driven the demand for energy audit services to optimize energy consumption and reduce emissions. The manufacturing sector is the largest end-use industry for energy audit services in the region.

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Industrial Energy Audit Services Market Size, Share, Growth Analysis, By Type(Process, Electrical, Mechanical, Building), By End Use(Manufacturing, Power Generation, Petrochemicals, Mining), By Region - Industry Forecast 2024-2031

Industrial Energy Audit Services Market News

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