Prices have grown with increased demand from businesses seeking to cut energy costs.
Los Angeles, CA (PRWEB) May 07, 2014
The energy and utility consulting services market has a buyer power score of 3.4, indicating a medium-high level of buyer negotiating power. Buyers benefit from stable prices, low market share concentration and a low risk of vendors becoming financially unstable, says IBISWorld analyst Natalie Everett. Factors that diminish buyer's negotiating power include the low availability of substitute services and a high degree of specialization in this field.
Popular energy and utility consulting services include feasibility studies for implementing new plans and procedures, efficiency modeling, and advisement on best practices for market design, asset management, renewable energy, energy storage, smart metering, water and energy conservation, and other specific and technical topics, continues Everett. Although this service is highly specialized and few substitutes exist, seeking consultation service is generally not required and instead is largely voluntary, giving buyers some degree of leverage in negotiations.
That said, this growing field offers many options for buyers, with service providers competing strongly for their business, particularly on smaller projects. The top four firms in the market capture about 14.0% of the national market because most firms specialize in the unique challenges of their immediate geographical area. Examples of major vendors include Analysis Group Inc., Baker Tilly Virchow Krause LLP and CH2M Hill. Small local firms are familiar with the area's topography and infrastructure, which is beneficial to buyers. For more information, visit IBISWorld’s Energy & Utility Consulting Services procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of energy and utility consulting services. Suppliers of this service assess the buyer’s facilities to determine where energy is being wasted and what actions can be taken to reduce energy costs. These services are sometimes referred to as energy or utility auditing. This report does not include general consulting services for businesses operating in the energy and utility sectors.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.