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Virtual Power Plant Market Size, Share, and Analysis, By Technology (Distributed Energy Resource, Demand Response, Mixed Asset), By Source (Renewable Energy, Cogeneration, Energy Storage), By End User (Industrial, Commercial, and Residential), and By Regi

Publisher Fatpos Global
Published Oct 01, 2024
Length 426 Pages
SKU # FAGL19312118

Description

Virtual Power Plant Market Size, Share, and Analysis, By Technology (Distributed Energy Resource, Demand Response, Mixed Asset), By Source (Renewable Energy, Cogeneration, Energy Storage), By End User (Industrial, Commercial, and Residential), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034


Virtual Power Plant Market Size, Share, and Analysis, By Technology (Distributed Energy Resource, Demand Response, Mixed Asset), By Source (Renewable Energy, Cogeneration, Energy Storage), By End User (Industrial, Commercial, and Residential), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Virtual Power Plant Market is anticipated to grow at a CAGR of 22.8% in the forecast period (2024-2034), with the market size valued at USD 1.8 billion in 2023 and projected to reach USD 17.4 billion by 2034.

Virtual power plant is an advanced energy management system that integrates various distributed energy resources (DERs) into a unified network, which resembles the operation of a conventional power plant. These DERs comprise renewable sources such as solar panels and wind turbines, along with storage units and components like electric vehicles and smart appliances. In addition, by using advanced software and communication technologies, a virtual power plant improves the performance of these resources in real-time. It ensures a balance between electricity supply and demand within the grid. Furthermore, by combining numerous smaller units, a virtual power plant improves the stability of the grid and helps in the efficient use of renewable energy. They create several opportunities for grid operators to be involved in energy markets and deliver multiple grid services such as frequency regulation and demand response. Therefore, virtual power plants are essential for transitioning toward a sustainable and resilient energy ecosystem.

MARKET HIGHLIGHTS

The Virtual Power Plant Market is projected to reach USD 17.4 billion, growing at a CAGR of 22.8% during the forecast period, due to the adoption of renewable energy sources, along with improvements in smart grid technologies, and growing demand for grid stability. The high production of distributed energy resources (DERs) such as solar photovoltaic and battery storage has made virtual power plants an attractive solution for efficiently integrating these resources into the grid. In addition, market players are focusing on developing advanced virtual power plant platforms that control and optimize algorithms to improve the value of aggregated DERs. Furthermore, collaborations and partnerships among technology providers and energy aggregators are encouraging innovation in the virtual power plant market. Therefore, as energy markets continue to move towards decentralization and decarbonization, the virtual power plant market will witness significant growth and transformation.

Virtual Power Plant Market Segments:
  • By Technology
  • Distributed Energy Resource
  • Demand Response
  • Mixed Asset
  • By Source
  • Renewable Energy,
  • Cogeneration
  • Energy Storage
  • By End User
  • Industrial
  • Commercial
  • Residential
MARKET DYNAMICS

Growth Drivers

Increasing Adoption of Renewable Energy is Promoting the Growth of the Market

Advancements in Smart Grid Technologies to Promote the Development of Virtual Power Plant Market

Restraint

Regulatory and Policy Challenges are Impeding the Market Growth

Key Players
  • General Electric Company
  • Siemens AG
  • ABB Group
  • Schneider Electric SE
  • Enbala Power Networks
  • AutoGrid Systems, Inc.
  • Enel X
  • Next Kraftwerke
  • Virtual Power Solutions
  • Blue Pillar, Inc.
  • Cisco Systems, Inc.
  • Hitachi, Ltd.
  • Flexitricity Limited
  • Power Analytics Corporation
  • Tesla, Inc.
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons to Purchase this Report
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
  • Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
  • The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
  • Provides insight into the market through Value Chain
  • Market dynamics scenario, along with growth opportunities of the market in the years to come
  • 3-month post-sales analyst support.
*Please Note: The report will be delivered in 2-3 business days upon order confirmation*

Table of Contents

426 Pages
1.Executive Summary
1.1. Regional Market Share
1.2.Business Trends
1.3. Virtual Power Plant Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. Research Methodology
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. Market Characteristics
3.1.Market Definition
3.2.Virtual Power Plant Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.Virtual Power Plant Market – Industry Insights
4.1. Industry Segmentation
4.2.COVID-19 overview of the world economy
4.3.Industry ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. Macroeconomic Indicators
6. Recent Developments
7. Market Dynamics
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.Risk Analysis
9. Market Analysis
9.1.Porter"s Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.Virtual Power Plant Market
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. Virtual Power Plant Market Size & Forecast 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Technology
11.3.1.1. Distributed Energy Resource
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Demand Response
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
11.3.1.3.Mixed Asset
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Source
11.3.2.1.Renewable Energy
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Cogeneration
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Energy Storage
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By End User
11.3.3.1.Industrial
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Commercial
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Residential
11.3.3.3.1.By Value (USD Million) 2024-2034F
11.3.3.3.2. Market Share (%) 2024-2034F
11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
12.North America Virtual Power Plant Market Size & Forecast 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Technology
12.3.2.By Source
12.3.3.By End User
12.4. Country
12.4.1. United States
12.4.2. Canada
13.Europe Virtual Power Plant Market Size & Forecast 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Technology
13.3.2.By Source
13.3.3.By End User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.Asia-Pacific Virtual Power Plant Market Size & Forecast 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Technology
14.3.2. By Source
14.3.3. By End User
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.Middle East and Africa Virtual Power Plant Market Size & Forecast 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Technology
15.3.2.By Source
15.3.3.By End User
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. Latin America Virtual Power Plant Market Size & Forecast 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Technology
16.3.2.By Source
16.3.3.By End User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. Competitive Landscape
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. Company Profiles
18.1. General Electric Company
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Siemens AG
18.3. ABB Group
18.4. Schneider Electric SE
18.5. Enbala Power Networks
18.6. AutoGrid Systems, Inc.
18.7. Enel X
18.8. Next Kraftwerke
18.9. Virtual Power Solutions
18.10. Blue Pillar, Inc.
18.11.Cisco Systems, Inc.
18.12. Hitachi, Ltd.
18.13. Flexitricity Limited
18.14. Power Analytics Corporation
18.15.Tesla, Inc
18.16. Other Prominent Players
19. Appendix
20.Consultant Recommendation

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