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PUBLISHER: IMARC | PRODUCT CODE: 1347542
PUBLISHER: IMARC | PRODUCT CODE: 1347542
Virtual Power Plant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 142 Pages
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Market Overview:
The global virtual power plant market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.6 Billion by 2028, exhibiting a growth rate (CAGR) of 25.2% during 2023-2028.
A virtual power plant (VPP) is a decentralized network that aggregates heterogeneous distributed energy resources (DER) capacities to enhance the power generation process. It offers a smooth power supply to generate the electricity from renewable energy sources by amalgamating the energy in the battery for circulation. VPP includes a central control system that processes excessive data regarding current power exchange rates, grid information, and weather forecasts. As a result, they offer various benefits, such as optimized power generation from existing sources, reliability, and reduced carbon footprints.
Virtual Power Plant Market Trends:
The widespread adoption of various renewable energy sources, such as biomass, hydropower, and solar energy, for power generation represents one of the key factors driving the global virtual power plant market growth. The integration of several advanced technologies, such as cloud-based solutions and the Internet of Things (IoT) and the gradual shift from centralized to distributed power generation is contributing to the market growth. Additionally, numerous initiatives undertaken by the governments of various countries for deploying renewable technologies to curb greenhouse gas (GHG) emissions on account of the growing environmental consciousness and an enhanced focus on sustainable development are creating a positive outlook for the market. The market is also driven by strategic collaborations between the key players and the increasing investments in the research and development (R&D) activities to introduce upgraded versions of virtual power plants. Other factors, such as the rising demand for electric vehicles (EVs), upgradation of the existing smart grid infrastructure, and initiatives undertaken for power sector reforms, especially in the emerging economies, are creating a positive outlook for the market further across the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual power plant market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, source and end user.
Breakup by Technology:
Distribution Generation
Demand Response
Mixed Asset
Breakup by Source:
Renewable Energy
Cogeneration
Energy Storage
Breakup by End User:
Industrial
Commercial
Residential
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., AGL Energy Ltd., Autogrid Systems Inc., Enel Spa, Flexitricity Limited (Reserve Power Holdings (Jersey) Limited), General Electric Company, Hitachi Ltd., Next Kraftwerke GmbH, Osisoft LLC (AVEVA Group plc), Schneider Electric SE, Siemens Aktiengesellschaft and Sunverge Energy Inc.
Key Questions Answered in This Report
- 1. What was the size of the global virtual power plant market in 2022?
- 2. What is the expected growth rate of the global virtual power plant market during 2023-2028?
- 3. What are the key factors driving the global virtual power plant market?
- 4. What has been the impact of COVID-19 on the global virtual power plant market?
- 5. What is the breakup of the global virtual power plant market based on the technology?
- 6. What is the breakup of the global virtual power plant market based on the end user?
- 7. What are the key regions in the global virtual power plant market?
- 8. Who are the key players/companies in the global virtual power plant market?
Product Code: SR112023A5688
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Virtual Power Plant Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Technology
- 6.1 Distribution Generation
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Demand Response
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Mixed Asset
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Source
- 7.1 Renewable Energy
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Cogeneration
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Energy Storage
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by End User
- 8.1 Industrial
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Commercial
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Residential
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 ABB Ltd.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 AGL Energy Ltd.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Autogrid Systems Inc.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Enel Spa
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Flexitricity Limited (Reserve Power Holdings (Jersey) Limited)
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 General Electric Company
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Hitachi Ltd.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Next Kraftwerke GmbH
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Osisoft LLC (AVEVA Group plc)
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Schneider Electric SE
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Siemens Aktiengesellschaft
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
- 14.3.12 Sunverge Energy Inc.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 ABB Ltd.
Product Code: SR112023A5688
List of Figures
- Figure 1: Global: Virtual Power Plant Market: Major Drivers and Challenges
- Figure 2: Global: Virtual Power Plant Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Virtual Power Plant Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Virtual Power Plant Market: Breakup by Technology (in %), 2022
- Figure 5: Global: Virtual Power Plant Market: Breakup by Source (in %), 2022
- Figure 6: Global: Virtual Power Plant Market: Breakup by End User (in %), 2022
- Figure 7: Global: Virtual Power Plant Market: Breakup by Region (in %), 2022
- Figure 8: Global: Virtual Power Plant (Distribution Generation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Virtual Power Plant (Distribution Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Virtual Power Plant (Demand Response) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Virtual Power Plant (Demand Response) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Virtual Power Plant (Mixed Asset) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Virtual Power Plant (Mixed Asset) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Virtual Power Plant (Renewable Energy) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Virtual Power Plant (Renewable Energy) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Virtual Power Plant (Cogeneration) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Virtual Power Plant (Cogeneration) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Virtual Power Plant (Energy Storage) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Virtual Power Plant (Energy Storage) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Virtual Power Plant (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Virtual Power Plant (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Virtual Power Plant (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Virtual Power Plant (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Virtual Power Plant (Residential) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Virtual Power Plant (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: North America: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: North America: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: United States: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: United States: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Canada: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Canada: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Asia-Pacific: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Asia-Pacific: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: China: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: China: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Japan: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Japan: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: India: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: India: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: South Korea: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: South Korea: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Australia: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Australia: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Indonesia: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Indonesia: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Others: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Others: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Europe: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Europe: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Germany: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Germany: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: France: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: France: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: United Kingdom: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: United Kingdom: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Italy: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Italy: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Spain: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Spain: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Russia: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Russia: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Others: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Others: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Latin America: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Latin America: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Brazil: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Brazil: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Mexico: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Mexico: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Middle East and Africa: Virtual Power Plant Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Middle East and Africa: Virtual Power Plant Market: Breakup by Country (in %), 2022
- Figure 74: Middle East and Africa: Virtual Power Plant Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Global: Virtual Power Plant Industry: SWOT Analysis
- Figure 76: Global: Virtual Power Plant Industry: Value Chain Analysis
- Figure 77: Global: Virtual Power Plant Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Virtual Power Plant Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Virtual Power Plant Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 3: Global: Virtual Power Plant Market Forecast: Breakup by Source (in Million US$), 2023-2028
- Table 4: Global: Virtual Power Plant Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 5: Global: Virtual Power Plant Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Virtual Power Plant Market: Competitive Structure
- Table 7: Global: Virtual Power Plant Market: Key Players
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