Energy ESO Market Outlook, Growth, Analysis, and Research Report

Market Overview:

The global energy ESO market is expected to exhibit a growth rate (CAGR) of 16.9% during 2023-2028.

Energy engineering services outsourcing (ESO) refers to hiring third-party energy service providers (ESPs) to perform tasks traditionally performed in-house. With the digital transformation, new technologies have been introduced for smart grid management, digitization of power plants, embedded product engineering, and virtual prototyping. As a result, ESPs are shifting toward more mature and advanced systems that provide more predictable, stable, and higher quality services. This has encouraged companies to opt for energy ESO to reduce labor and investment costs by outsourcing the services to ESPs. They also execute appropriate strategies and promptly complete projects, which can be accessed by a ready team of skilled and trained engineers.

The global energy ESO market is primarily driven by rapid industrialization and a substantial increase in energy demand. The rising concerns about the operating efficiency of energy plants and extensive investments in clean or renewable energy resources, which are an efficient way of reducing carbon dioxide (CO₂) emissions, have increased the need for ESO services worldwide. Besides this, due to information, security and privacy concerns, companies are nowadays increasingly opting for onshore ESO that are provided to an OEM by an ESO vendor operating in its home country. There has also been a growing need for real-time analytics services to handle the requirements of the energy industry, such as analyzing vast amounts of data generated in energy production. Moreover, the utilization of advanced engineering technologies by outsourcing firms to serve their clients and enable them to exchange confidential data on project specifications and equipment performances are also contributing to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global energy ESO market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service, location and energy source.

Breakup by Service:

• R&D and Designing
• Structuring and Layout
• Digitization
• Implementation and Maintenance
   

Breakup by Location:

• Onshore
• Offshore
   

Breakup by Energy Source:

• Renewable
• Non-Renewable
• Chemical Processing
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Altair Engineering Inc., ALTEN Group, Altran Technologies (Capgemini SE), Assystem (HDL Development SAS), Cyient Limited, ESI Group, Luxoft (DXC Technology Company), Mott Macdonald, QuEST Global Services Pte. Ltd., Rilco Engineering Services, Semcon and Total OutSource Inc. (UCA Group Inc).

Report Coverage:

Key Questions Answered in This Report:

• How has the global energy ESO market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global energy ESO market?
• What are the key regional markets?
• What is the breakup of the market based on the service?
• What is the breakup of the market based on the location?
• What is the breakup of the market based on the energy source?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global energy ESO market and who are the key players?
• What is the degree of competition in the industry?