Virtual Power plant Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	207 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19224211

Best Price Guarantee
Price	from $4,850
Length	207 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19224211

Virtual Power plant Market

Growth Factors of Virtual Power plant Market

The virtual power plant market size was valued at USD 1.42 billion in 2023, and the market is now projected to grow from USD 1.86 billion in 2024 to USD 23.98 billion by 2032, exhibiting a CAGR of 37.70% during the forecast period of 2023-2030.

The COVID-19 pandemic has affected the overall virtual power plant market growth. The imposed lockdowns and investments in utilities in grid projects declined at an unprecedented rate. The low demand caused by decreased consumer spending impeded the market growth. Government initiatives have stressed national budgets, forced reconsideration of transition to renewable and delayed power sector reforms. A turn down in the demand in the power industry because of stoppage in power projects and industrial expenditure has hindered the VPP market.

The virtual power plant market share globally has been contributed due to the growing shift towards distributed generation to aid market dynamics. The present energy distribution systems wide-reaching are decentralized. The energy is generated and distributed via small-scale technologies which include wind turbines, photovoltaic cells, geothermal systems, and micro hydropower plants. This system is particularly used to supply electricity during power outages and the high energy demand durations when combined with heat and power and emergency generators. Increasing concentration on decarbonization, electrification, digitization, and advancements in power generation and storage technologies are the prominent factors speeding up the demand.

The trend is increasing demand for renewable power generation in the market. Clean energy and sustainability are becoming a main purpose worldwide. The rising depletion of fossil fuel reserves and their increasing prices are the prime reasons. Renewable energy has acquired a lot of importance in recent years to reduce the consumption of fossil fuels. The nation-wise renewable energy installation targets and government incentives for installations of these resources is propelling the market growth

Comprehensive Analysis of Virtual Power plant Market

The virtual power plant market and power & energy industry is growing at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the power industry. These segmentations are methodically segregated by technology and end-user. The technology types are such as demand response, distributed generation, and mixed assets. Similarly, the end-users include industrial, commercial, and residential.

The Europe region is conducive to the global virtual power plant market, leading to a recall of USD 0.59 billion owing to the substantial investments in renewable energy and energy storage systems, propelling the demand for VPPs.

The top players in the market play a vital role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include ABB (Switzerland), Siemens (Germany), General Electric (U.S.), AGL Energy (Australia), Schneider Electric (France), Enel X (U.S.), Cisco Systems, Inc. (U.S.), IBM (U.S.), Hitachi, Ltd. (Japan), Bosch (Germany), Mitsubishi Heavy Industries (Japan), Next Kraftwerke (Germany), AutoGrid Systems, Inc. (U.S.), Blue Pillar, Inc. (U.S.), Enbala Power Networks, Inc. (U.S.), these market players present a level-playing competitive landscape.

In November 2020, Siemens developed a unique business model with the new Finnish brewery Sinebrychoff contract to enhance energy optimization. These solutions will be a VPP and the latest energy storage technology, supported with financing solutions. It uses digitalization to produce the potential for saving and improving the power supply quality.

Segmentation Table

Global Virtual Power plant Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 37.70% from 2024-2032

Unit Value (USD Billion)

Segmentation By Technology

Demand Response
Distributed Generation
Mixed Asset

By End-user

Residential
Commercial
Industrial

By Region

North America (By Technology, By End-user, By Country)
U.S.
Canada
Europe (By Technology, By End-user, By Country)
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific (By Technology, By End-user, By Country)
China
Japan
India
Australia
Southeast Asia
Rest of Asia Pacific
Middle East & Africa (By Technology, By End-user, By Country)
GCC
South Africa
Rest of the Middle East & Africa
Latin America (By Technology, By End-user, By Country)
Mexico
Brazil
Rest of Latin America

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Emerging Trends – For Major Countries; 4.2. Latest Technological Advancement; 4.3. Regulatory Landscape; 4.4. Industry SWOT Analysis; 4.5. Porters Five Forces Analysis; 4.6. Impact of COVID-19 on the Virtual Power Plant Market
5. Global Virtual Power Plant Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. Market Analysis, Insights and Forecast – By Technology; 5.2.1. Demand Response; 5.2.2. Distributed Generation; 5.2.3. Mixed Asset; 5.3. Market Analysis, Insights and Forecast – By End-user; 5.3.1. Industrial; 5.3.2. Commercial; 5.3.3. Residential; 5.4. Market Analysis, Insights and Forecast – By Region; 5.4.1. North America; 5.4.2. Europe; 5.4.3. Asia Pacific; 5.4.4. Latin America; 5.4.5. Middle East & Africa
6. North America Virtual Power Plant Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Analysis, Insights and Forecast – By Technology; 6.2.1. Demand Response; 6.2.2. Distributed Generation; 6.2.3. Mixed Asset; 6.3. Market Analysis, Insights and Forecast – By End-user; 6.3.1. Industrial; 6.3.2. Commercial; 6.3.3. Residential; 6.4. Market Analysis, Insights and Forecast – By Country; 6.4.1. U.S; 6.4.2. Canada
7. Europe Virtual Power Plant Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Analysis, Insights and Forecast – By Technology; 7.2.1. Demand Response; 7.2.2. Distributed Generation; 7.2.3. Mixed Asset; 7.3. Market Analysis, Insights and Forecast – By End-user; 7.3.1. Industrial; 7.3.2. Commercial; 7.3.3. Residential; 7.4. Market Analysis, Insights and Forecast – By Country; 7.4.1. Germany; 7.4.2. U.K.; 7.4.3. France; 7.4.4. Italy; 7.4.5. Spain; 7.4.6. Russia; 7.4.7. Rest of Europe
8. Asia Pacific Virtual Power Plant Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Analysis, Insights and Forecast – By Technology; 8.2.1. Demand Response; 8.2.2. Distributed Generation; 8.2.3. Mixed Asset; 8.3. Market Analysis, Insights and Forecast – By End-user; 8.3.1. Industrial; 8.3.2. Commercial; 8.3.3. Residential; 8.4. Market Analysis, Insights and Forecast – By Country; 8.4.1. China; 8.4.2. Japan; 8.4.3. India; 8.4.4. Australia; 8.4.5. Southeast Asia; 8.4.6. Rest of Asia Pacific
9. Latin America Virtual Power Plant Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Analysis, Insights and Forecast – By Technology; 9.2.1. Demand Response; 9.2.2. Distributed Generation; 9.2.3. Mixed Asset; 9.3. Market Analysis, Insights and Forecast – By End-user; 9.3.1. Industrial; 9.3.2. Commercial; 9.3.3. Residential; 9.4. Market Analysis, Insights and Forecast – By Country; 9.4.1. Brazil; 9.4.2. Mexico; 9.4.3. Rest of Latin America
10. Middle East & Africa Virtual Power Plant Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 10.1. Key Findings / Summary; 10.2. Market Analysis, Insights and Forecast – By Technology; 10.2.1. Demand Response; 10.2.2. Distributed Generation; 10.2.3. Mixed Asset; 10.3. Market Analysis, Insights and Forecast – By End-user; 10.3.1. Industrial; 10.3.2. Commercial; 10.3.3. Residential; 10.4. Market Analysis, Insights and Forecast – By Country; 10.4.1. GCC; 10.4.2. South Africa; 10.4.3. Rest of Middle East & Africa
11. Competitive Analysis: 11.1. Company Market Share Analysis, 2023; 11.2. Company Profile; 11.2.1. ABB; 11.2.1.1. Business Overview; 11.2.1.2. Business Segment; 11.2.1.3. Product & Service Offering; 11.2.1.4. Overall Revenue; 11.2.1.5. Recent Development; 11.2.2. Siemens; 11.2.2.1. Business Overview; 11.2.2.2. Business Segment; 11.2.2.3. Product & Service Offering; 11.2.2.4. Overall Revenue; 11.2.2.5. Recent Development; 11.2.3. GE; 11.2.3.1. Business Overview; 11.2.3.2. Business Segment; 11.2.3.3. Product & Service Offering; 11.2.3.4. Overall Revenue; 11.2.3.5. Recent Development; 11.2.4. AGL Energy; 11.2.4.1. Business Overview; 11.2.4.2. Business Segment; 11.2.4.3. Product & Service Offering; 11.2.4.4. Overall Revenue; 11.2.4.5. Recent Development; 11.2.5. Schneider Electric; 11.2.5.1. Business Overview; 11.2.5.2. Business Segment; 11.2.5.3. Product & Service Offering; 11.2.5.4. Overall Revenue; 11.2.5.5. Recent Development; 11.2.6. Enel X; 11.2.6.1. Business Overview; 11.2.6.2. Business Segment; 11.2.6.3. Product & Service Offering; 11.2.6.4. Overall Revenue; 11.2.6.5. Recent Development; 11.2.7. Cisco Systems Inc.; 11.2.7.1. Business Overview; 11.2.7.2. Business Segment; 11.2.7.3. Product & Service Offering; 11.2.7.4. Overall Revenue; 11.2.7.5. Recent Development; 11.2.8. Bosch; 11.2.8.1. Business Overview; 11.2.8.2. Business Segment; 11.2.8.3. Product & Service Offering; 11.2.8.4. Overall Revenue; 11.2.8.5. Recent Development; 11.2.9. International Business Machines; 11.2.9.1. Business Overview; 11.2.9.2. Business Segment; 11.2.9.3. Product & Service Offering; 11.2.9.4. Overall Revenue; 11.2.9.5. Recent Development; 11.2.10. Hitachi Ltd; 11.2.10.1. Business Overview; 11.2.10.2. Business Segment; 11.2.10.3. Product & Service Offering; 11.2.10.4. Overall Revenue; 11.2.10.5. Recent Development; 11.2.11. Mitsubishi Heavy Industries; 11.2.11.1. Business Overview; 11.2.11.2. Business Segment; 11.2.11.3. Product & Service Offering; 11.2.11.4. Overall Revenue; 11.2.11.5. Recent Development; 11.2.12. Next Kraftwerke; 11.2.12.1. Business Overview; 11.2.12.2. Business Segment; 11.2.12.3. Product & Service Offering; 11.2.12.4. Overall Revenue; 11.2.12.5. Recent Development; 11.2.13. AutoGrid Systems Inc.; 11.2.13.1. Business Overview; 11.2.13.2. Business Segment; 11.2.13.3. Product & Service Offering; 11.2.13.4. Overall Revenue; 11.2.13.5. Recent Development; 11.2.14. Blue Pillar; 11.2.14.1. Business Overview; 11.2.14.2. Business Segment; 11.2.14.3. Product & Service Offering; 11.2.14.4. Overall Revenue; 11.2.14.5. Recent Development; 11.2.15. Enbala Power Networks; 11.2.15.1. Business Overview; 11.2.15.2. Business Segment; 11.2.15.3. Product & Service Offering; 11.2.15.4. Overall Revenue; 11.2.15.5. Recent Development; 12.