Market Assessment of the Cooling/Heating and Energy as a Service Industry in Europe & Africa
Situation
Our client was looking to assess the market potential for Cooling/Heating as a Service and Energy as a Service in the industrial refrigeration market.
Objective
The objective was to analyze the market and competitive landscape and customer insights in the Heating/Cooling-as-a-Service space in Europe and Africa, covering various sectors including food & beverage, pharma, chemicals, distribution & storage and data centers.
Our Work
10EQS conducted interviews with prospective customers and industry experts as well as desktop research to assess the market size (including TAM, SAM and SOM), trends, regulations, competitors, and customer preferences. 10EQS developed go-to-market recommendations and provided business model considerations, key opportunities and differentiators for the client.
Project Team
- Ex-McKinsey Management Consultant with extensive energy industry and go-to-market strategy experience
- Senior Management Consultant with industrial heating and cooling experience
- Associate Consultant conducting secondary research and supporting content synthesis
- 10EQS Delivery Operations (=PMO) providing quality assurance, process management and expert recruitment
- 30 industry experts
Industry experts (excerpt)
- Head, Maintenance and Utilities – Global Agribusiness and Food Company (Nigeria)
- Head of Sales Europe – Leading Manufacturer of Heating and Cooling Technology (Germany)
- Head of Engineering – Food Company with Global Operations (Ghana)
- Head of Operations – Global, Research-based Biopharmaceutical Company (Belgium)
Results
10EQS identified strong market potential for CaaS/HaaS, driven by demand for energy efficiency and cost savings. Customers are increasingly interested in subscriptions-based and pay-per-use models, as well as leveraging IoT / AI. Key challenges include adoption speed and infrastructure gaps, particularly in Africa.