Energy Services can contribute to the European Union’s (EU) green transition, reducing the environmental footprint of the primary energy consumers, namely, the Industry, the Transport, the Buildings and the Public. Being intrinsically linked to energy efficiency, Energy Services can also substantially augment energy savings and efficiency while lessening both private and public sectors’ operating costs. Their maturity level differs significantly among the EU Member States. The thesis explores the EU Energy Service market’s current status and its growth perspectives. To that end, it pursues a genuine Strengths-Weaknesses-Opportunities-Threats (SWOT) analysis, leveraging an extensive literature review and a subsequent qualitative study, which results in eight challenges clusters, commonly shared by Strengths and Weaknesses, and seven clusters, jointly attributed to Opportunities and Threats. As it is revealed, the three chief Strengths’ clusters address Product, Technology and Sustainability & Climate Change aspects while those of Weaknesses are related to Economic, Product and Technology issues. As regards Opportunities, the three predominant clusters are associated with the Broader Market, Legislation and Social & Energy Transition while those of Threats with the Social & Energy Transition, Technical & Administration and Awareness & Communication challenges. Since the Opportunities prove to outperform all other SWOT pillars, recommendations are drawn for the paths that the EU should pursue, to unravel Energy Services’ great potential. The Energy Services’ positive impact, on both the EU’s energy transformation and its collaborations within and outside Europe, is also being reflected.