UK Energy Services: Market Forecast 2018-2023

Published 1 October 2018 by Susan Clarke
Building Retrofits Energy Management Market Size & Forecast

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Executive Summary

The UK energy services market is very broad, incorporating a wide range of service lines – from simple energy audits to energy management propositions that cover multiple areas. Verdantix forecasts that the UK energy services market, across six segments, will grow from £1.4 billion ($1.9 billion) in 2018 to £1.5 billion ($2 billion) by 2023, at a compound annual growth rate of 2%. Spending will be supported by new compliance requirements, the expansion EPC procurement frameworks and vendor innovation that is continuing to open up the mid-market. Energy services suppliers will need to plan for some challenging market dynamics given slow-growing energy prices and high price pressure in some segments. This report helps executives at energy services firms, investors and services partners to understand overall market trends and opportunities to improve business planning. 

Table of contents

UK Energy Services: Market Forecast 2018-2023
Forecasting The UK Energy Services Market 
Compliance Requirements And Expanding EPC Frameworks Will Support Growth Despite Sluggish Energy Prices  
Energy Services Firms Will Expand Into Adjacent Segments To Find Growth 

Retailers And The Public Sector Continue To Lead Energy Services Spending Levels In 2018
The UK Energy Services Market Will Grow To £1.5 Billion By 2023
Market Participants Need To Plan For Uncertainty Under Brexit And Future Policy Changes 

Table of figures

Figure 1. Definitions Of Energy Services Spend Areas 
Figure 2. The Customer Base Segmented Into Six Industry Super-Sectors
Figure 3. UK Energy Services Market By Segment 2018-2023 (£m)
Figure 4. UK Energy Services Spend By Industry Group 2018-2023 (£m)
Figure 5. 2018-2023 CAGRs For Energy Services Spending By Segment
Figure 6. 2018-2023 CAGRs For Energy Services Spending By Industry Group

Organisations mentioned

Aimteq, Aldi, Alfa Energy, Allianz Global Corporate & Specialty, Amber Energy, Ameresco, Anesco, Asset+, Breathe Energy, Carbon And Energy Fund, Carbon Credentials, Caverion, Churchcom, Colt, Department for Business, Energy & Industrial Strategy, East Kent Hospitals University NHS Foundation Trust, E.ON, EMpower, ENGIE, Essentia, EvoEnergy, Evora, Flexible Energy Management, Grant Thornton, Horizon Energy Group, Ignite Energy, Innology, Inspired Energy, Interserve, ISS, Kingfisher, Love Energy Savings, Matrix, National Grid, NHS, Marks & Spencer, McDonald's, Mitie, npower, Professional Cost Management, RE:FIT, Schneider Electric, Siemens, Signify, Solarcentury, SystemsLink, Tesco, Utilitywise, Vale of Glamorgan Council, Verco.

About the author

Susan Clarke

Principal Analyst

Susan is a Principal Analyst in the Verdantix Smart Buildings Practice. Her current research agenda focuses on integrated solutions for real estate management and energy services. Susan has eight years of experience in technology research. She holds a MSc from the University of London in Sustainable Development.

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