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PUBLISHER: BIS Research | PRODUCT CODE: 1385524

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PUBLISHER: BIS Research | PRODUCT CODE: 1385524

Virtual Power Plant Market - A Global and Regional Analysis, 2023-2033

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Description

Table of Contents

“Global Virtual Power Plant Market Set for Unprecedented Growth and Innovation.”

The increasing demand for power generation from renewable sources of energy across the globe has propelled the need for virtual power plants. Moreover, there is an increased concern for decentralized power generators in the electricity distribution supply chain to reduce the electricity demand. The growth of the market is likely to be aided by an increasing demand for decentralized power generation, growing demand for renewable sources of energy, and favorable government initiatives to mitigate power outages.

KEY MARKET STATISTICS
Forecast Period2023 - 2033
2023 EvaluationMore than $1.2 Billion in 2023
2033 ForecastMore than $12 Billion by 2033
CAGRMore than 23%

High growth in the coming future is expected to be driven by rising awareness among governments of various countries about the need to mitigate power outages while also making attempts to preserve the environment. The growing awareness in the market concerning the opportunities in renewable energy and battery storage systems has stimulated large-scale investments in the sector over the last decade.

Their ability to participate in energy markets, provide cost savings, and contribute to environmental sustainability aligns with global efforts to transition to cleaner and more resilient energy systems. As the demand for flexible and sustainable energy solutions continues to rise, Virtual power plants play a pivotal role in reshaping the future of power generation and distribution.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent companies in this market are:

  • ABB, Ltd.
  • Blue Pillar
  • Cisco Systems, Inc.
  • Enel X North America, Inc.
  • Generac Power Systems, Inc.
  • Hitachi, Ltd.
  • IBM
  • Limejump Limited
  • OSIsoft, LLC
  • Power Analytics Corporation
  • Robert Bosch GmbH
  • Schneider Electric
  • Siemens
  • Sunverge Energy Inc.
  • TOSHIBA CORPORATION

Key Questions Answered in this Report:

  • What are the main factors driving the demand for virtual power plant market?
  • What are the major patents filed by the companies active in the global virtual power plant market?
  • What are the strategies adopted by the key companies to gain a competitive edge in virtual power plant industry?
  • What is the futuristic outlook for the virtual power plant in terms of growth potential?
  • Which end users, technology, and source is expected to lead the market over the forecast period (2023-2033)?
  • What could be the impact of growing renewable energy industry on virtual power plant market?
  • What is the comparison between types of virtual power plants?
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Product Code: MSS0720SB

Table of Contents

1. Markets: Industry Outlook

  • 1.1. Trends: Current and Future Impact Assessment
    • 1.1.1. Rising investments in the establishment of new virtual power plants
    • 1.1.2. Consistent transition from centralized to distributed power generation
    • 1.1.3. Integration of multiple cutting-edge technologies
  • 1.2. Supply Chain Overview
    • 1.2.1. Value chain Analysis
    • 1.2.2. Market Map
    • 1.2.3. Pricing Forecast
  • 1.3. R&D Review
    • 1.3.1. Patent Filing Trend by Country, by Company
  • 1.4. Regulatory Landscape
  • 1.5. Stakeholder Analysis
    • 1.5.1. Use Case
    • 1.5.2. End User and buying criteria
  • 1.6. Impact analysis for key global events- covid19, Russia/Ukraine or Middle East crisis
  • 1.7. Comparative analysis of different types of virtual power plants
  • 1.8. Case studies of virtual power plants
  • 1.9. Regulatory and market environment influencing the development of Virtual Power Plants
  • 1.10. Market Dynamics Overview
    • 1.10.1. Market Drivers
    • 1.10.2. Market Restraints
    • 1.10.3. Market Opportunities

2. Application

  • 2.1. Application Segmentation
  • 2.2. Application Summary
  • 2.3. Global Virtual Power Plant Market (by End Users)
    • 2.3.1. Industrial
    • 2.3.2. Commercial
    • 2.3.3. Residential

3. Product

  • 3.1. Product Segmentation
  • 3.2. Product Summary
  • 3.3. Global Virtual Power Plant Market (by Technology)
    • 3.3.1. Distribution Generation
    • 3.3.2. Demand Response
    • 3.3.2. Mixed Asset
  • 3.4. Global Virtual Power Plant Market (by Source)
    • 3.3.1. Renewable Energy
      • 3.3.1.1. Solar
      • 3.3.1.2. Wind
      • 3.3.1.3. Hydro
    • 3.3.2. Energy Storage Systems
    • 3.3.3. Others

4. Region

  • 4.1. Regional Summary
    • Table: Global Virtual Power Plant Market, By Region, (MW), 2022-2033
    • Table: Global Virtual Power Plant Market, By Region, ($ Million), 2022-2033
  • 4.2. Drivers and Restraints
  • 4.3. North America
    • Key Market Participants in North America
    • Business Drivers
    • Business Challenges
    • 4.3.1. Application
      • Table: North America Virtual Power Plant Market, By End Users (MW), 2022-2033
      • Table: North America Virtual Power Plant Market, By End Users ($ Million), 2022-2033
    • 4.3.2. Product
      • Table: North America Virtual Power Plant Market, By Technology (MW), 2022-2033
      • Table: North America Virtual Power Plant Market, By Technology ($ Million), 2022-2033
      • Table: North America Virtual Power Plant Market, By Source (MW), 2022-2033
      • Table: North America Virtual Power Plant Market, By Source ($ Million), 2022-2033
    • 4.3.3. North America Virtual Power Plant Market (by Country)
      • 4.2.4.1. U.S.
        • Table: U.S. Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: U.S. Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: U.S. Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: U.S. Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: U.S. Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: U.S. Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.2.4.2. Canada
        • Table: Canada Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Canada Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Canada Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Canada Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Canada Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Canada Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.2.4.3. Mexico
        • Table: Mexico Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Mexico Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Mexico Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Mexico Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Mexico Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Mexico Virtual Power Plant Market, By Source ($ Million), 2022-2033
  • 4.3. Europe
    • 4.3.1. Key Market Participants in Europe
    • 4.3.2. Business Drivers
    • 4.3.3. Business Challenges
    • 4.3.4. Application
      • Table: Europe Virtual Power Plant Market, By End Users (MW), 2022-2033
      • Table: Europe Virtual Power Plant Market, By End Users ($ Million), 2022-2033
    • 4.3.3. Product
      • Table: Europe Virtual Power Plant Market, By Technology (MW), 2022-2033
      • Table: Europe Virtual Power Plant Market, By Technology ($ Million), 2022-2033
      • Table: Europe Virtual Power Plant Market, By Source (MW), 2022-2033
      • Table: Europe Virtual Power Plant Market, By Source ($ Million), 2022-2033
    • 4.3.4. Europe Virtual Power Plant Market (by Country)
      • 4.3.4.1. Germany
        • Table: Germany Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Germany Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Germany Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Germany Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Germany Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Germany Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.3.4.2. France
        • Table: France Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: France Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: France Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: France Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: France Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: France Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.3.4.3. Italy
        • Table: Italy Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Italy Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Italy Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Italy Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Italy Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Italy Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.3.4.4. Denmark
        • Table: Denmark Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Denmark Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Denmark Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Denmark Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Denmark Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Denmark Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.3.4.4. U.K.
        • Table: U.K. Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: U.K. Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: U.K. Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: U.K. Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: U.K. Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: U.K. Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.3.4.5. Rest-of-Europe
        • Table: Rest-of-Europe Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Rest-of-Europe Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Rest-of-Europe Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Rest-of-Europe Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Rest-of-Europe Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Rest-of-Europe Virtual Power Plant Market, By Source ($ Million), 2022-2033
  • 4.4. Asia-Pacific
    • 4.4.1. Key Market Participants in Asia-Pacific
    • 4.4.2. Business Drivers
    • 4.4.3. Business Challenges
    • 4.4.2. Application
      • Table: Asia-Pacific Virtual Power Plant Market, By End Users (MW), 2022-2033
      • Table: Asia-Pacific Virtual Power Plant Market, By End Users ($ Million), 2022-2033
    • 4.4.3. Product
      • Table: Asia-Pacific Virtual Power Plant Market, By Technology (MW), 2022-2033
      • Table: Asia-Pacific Virtual Power Plant Market, By Technology ($ Million), 2022-2033
      • Table: Asia-Pacific Virtual Power Plant Market, By Source (MW), 2022-2033
      • Table: Asia-Pacific Virtual Power Plant Market, By Source ($ Million), 2022-2033
    • 4.4.4. Asia-Pacific Virtual Power Plant Market (by Country)
      • 4.4.4.1. China
        • Table: China Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: China Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: China Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: China Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: China Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: China Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.4.4.1. Japan
        • Table: Japan Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Japan Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Japan Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Japan Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Japan Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Japan Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.4.4.2. South Korea
        • Table: South Korea Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: South Korea Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: South Korea Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: South Korea Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: South Korea Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: South Korea Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.4.4.3. Australia
        • Table: Australia Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Australia Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Australia Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Australia Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Australia Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Australia Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.4.4.4. Rest-of-Asia-Pacific
        • Table: Rest-of-Asia-Pacific Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: Rest-of-Asia-Pacific Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: Rest-of-Asia-Pacific Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: Rest-of-Asia-Pacific Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: Rest-of-Asia-Pacific Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: Rest-of-Asia-Pacific Virtual Power Plant Market, By Source ($ Million), 2022-2033
  • 4.4. Rest-of-the-World
    • 4.4.1. Key Market Participants in Rest-of-the-World
    • 4.4.2. Business Drivers
    • 4.4.3. Business Challenges
    • 4.4.2. Application
      • Table: Rest-of-the-World Virtual Power Plant Market, By End Users (MW), 2022-2033
      • Table: Rest-of-the-World Virtual Power Plant Market, By End Users ($ Million), 2022-2033
    • 4.4.3. Product
      • Table: Rest-of-the-World Virtual Power Plant Market, By Technology (MW), 2022-2033
      • Table: Rest-of-the-World Virtual Power Plant Market, By Technology ($ Million), 2022-2033
      • Table: Rest-of-the-World Virtual Power Plant Market, By Source (MW), 2022-2033
      • Table: Rest-of-the-World Virtual Power Plant Market, By Source ($ Million), 2022-2033
    • 4.5.5. Rest-of-the-World Virtual Power Plant Market (by Region)
      • 4.5.5.1. The Middle East and Africa
        • Table: The Middle East and Africa Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: The Middle East and Africa Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: The Middle East and Africa Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: The Middle East and Africa Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: The Middle East and Africa Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: The Middle East and Africa Virtual Power Plant Market, By Source ($ Million), 2022-2033
      • 4.5.5.2. South America
        • Table: South America Virtual Power Plant Market, By End Users (MW), 2022-2033
        • Table: South America Virtual Power Plant Market, By End Users ($ Million), 2022-2033
        • Table: South America Virtual Power Plant Market, By Technology (MW), 2022-2033
        • Table: South America Virtual Power Plant Market, By Technology ($ Million), 2022-2033
        • Table: South America Virtual Power Plant Market, By Source (MW), 2022-2033
        • Table: South America Virtual Power Plant Market, By Source ($ Million), 2022-2033

5. Markets - Competitive Landscape & Company Profiles

  • 5.1. Competitive Landscape
  • 5.2. Company Profile
    • 5.2.1. ABB, Ltd.
      • 5.2.1.1. Company Overview
        • 5.2.1.1.1. Role of ABB, Ltd. in Global Virtual Power Plant Market
        • 5.2.1.1.2. Product Portfolio
      • 5.2.1.2. Business Strategies
      • 5.2.1.3. Corporate Strategies
      • 5.2.1.4. Analyst View
    • 5.2.2. Blue Pillar
      • 5.2.2.1. Company Overview
        • 5.2.2.1.1. Role of Blue Pillar in Global Virtual Power Plant Market
        • 5.2.2.1.2. Product Portfolio
      • 5.2.2.2. Business Strategies
      • 5.2.2.3. Corporate Strategies
      • 5.2.2.4. Analyst View
    • 5.2.3. Cisco Systems, Inc.
      • 5.2.3.1. Company Overview
        • 5.2.3.1.1. Role of Cisco Systems, Inc. in Global Virtual Power Plant Market
        • 5.2.3.1.2. Product Portfolio
      • 5.2.3.2. Business Strategies
      • 5.2.3.3. Corporate Strategies
      • 5.2.3.4. Analyst View
    • 5.2.4. Enel X North America, Inc.
      • 5.2.4.1. Company Overview
        • 5.2.4.1.1. Role of Enel X North America, Inc. in Global Virtual Power Plant Market
        • 5.2.4.1.2. Product Portfolio
      • 5.2.4.2. Business Strategies
      • 5.2.4.3. Corporate Strategies
      • 5.2.4.4. Analyst View
    • 5.2.5. Generac Power Systems, Inc.
      • 5.2.5.1. Company Overview
        • 5.2.5.1.1. Role of Generac Power Systems, Inc. in Global Virtual Power Plant Market
        • 5.2.5.1.2. Product Portfolio
      • 5.2.5.2. Business Strategies
      • 5.2.5.3. Corporate Strategies
      • 5.2.5.4. Analyst View
    • 5.2.6. Hitachi, Ltd.
      • 5.2.6.1. Company Overview
        • 5.2.6.1.1. Role of Hitachi, Ltd. in Global Virtual Power Plant Market
        • 5.2.6.1.2. Product Portfolio
      • 5.2.6.2. Business Strategies
      • 5.2.6.3. Corporate Strategies
      • 5.2.6.4. Analyst View
    • 5.2.7. IBM
      • 5.2.7.1. Company Overview
        • 5.2.7.1.1. Role of IBM in Global Virtual Power Plant Market
        • 5.2.7.1.2. Product Portfolio
      • 5.2.7.2. Business Strategies
      • 5.2.7.3. Corporate Strategies
      • 5.2.7.4. Analyst View
    • 5.2.8. Limejump Limited
      • 5.2.8.1. Company Overview
        • 5.2.8.1.1. Role of Limejump Limited in Global Virtual Power Plant Market
        • 5.2.8.1.2. Product Portfolio
      • 5.2.8.2. Business Strategies
      • 5.2.8.3. Corporate Strategies
      • 5.2.8.4. Analyst View
    • 5.2.9. OSIsoft, LLC
      • 5.2.9.1. Company Overview
        • 5.2.9.1.1. Role of OSIsoft, LLC in Global Virtual Power Plant Market
        • 5.2.9.1.2. Product Portfolio
      • 5.2.9.2. Business Strategies
      • 5.2.9.3. Corporate Strategies
      • 5.2.9.4. Analyst View
    • 5.2.10. Power Analytics Corporation
      • 5.2.10.1. Company Overview
        • 5.2.10.1.1. Role of Power Analytics Corporation in Global Virtual Power Plant Market
        • 5.2.10.1.2. Product Portfolio
      • 5.2.10.2. Business Strategies
      • 5.2.10.3. Corporate Strategies
      • 5.2.10.4. Analyst View
    • 5.2.11. Robert Bosch GmbH
      • 5.2.11.1. Company Overview
        • 5.2.11.1.1. Role of Robert Bosch GmbH in Global Virtual Power Plant Market
        • 5.2.11.1.2. Product Portfolio
      • 5.2.11.2. Business Strategies
      • 5.2.11.3. Corporate Strategies
      • 5.2.11.4. Analyst View
    • 5.2.12. Schneider Electric
      • 5.2.12.1. Company Overview
        • 5.2.12.1.1. Role of Schneider Electric in Global Virtual Power Plant Market
        • 5.2.12.1.2. Product Portfolio
      • 5.2.12.2. Business Strategies
      • 5.2.12.3. Corporate Strategies
      • 5.2.12.4. Analyst View
    • 5.2.13. Siemens
      • 5.2.13.1. Company Overview
        • 5.2.13.1.1. Role of Siemens in Global Virtual Power Plant Market
        • 5.2.13.1.2. Product Portfolio
      • 5.2.13.2. Business Strategies
      • 5.2.13.3. Corporate Strategies
      • 5.2.13.4. Analyst View
    • 5.2.14. Sunverge Energy Inc.
      • 5.2.14.1. Company Overview
        • 5.2.14.1.1. Role of Sunverge Energy Inc. in Global Virtual Power Plant Market
        • 5.2.14.1.2. Product Portfolio
      • 5.2.14.2. Business Strategies
      • 5.2.14.3. Corporate Strategies
      • 5.2.14.4. Analyst View
    • 5.2.15. TOSHIBA CORPORATION
      • 5.2.15.1. Company Overview
        • 5.2.15.1.1. Role of TOSHIBA CORPORATION in Global Virtual Power Plant Market
        • 5.2.15.1.2. Product Portfolio
      • 5.2.15.2. Business Strategies
      • 5.2.15.3. Corporate Strategies
      • 5.2.15.4. Analyst View
  • 5.3. Other Key Market Participants

6. Growth Opportunities & Recommendations

7. Research Methodology

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