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Market Research Report

Virtual Power Plant Market by Technology, by Consumer, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023

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Virtual Power Plant Market by Technology, by Consumer, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023
Published: March 1, 2018 Content info: 125 Pages
Description

Title:
Virtual Power Plant (VPP) Market by Technology (Demand Response, Supply Side, Mixed Asset), by Consumer (Industrial, Commercial, Residential, Electric Vehicles), by Geography (U.S., Canada, Germany, U.K., France, Italy, China, Japan, Australia, South Korea, Saudi Arabia, South Africa, U.A.E., Brazil, Mexico) - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023.

The market growth is mainly driven by the growing penetration of renewable energy sources in the energy mix across different parts of the world.

Virtual power plant refers to an integrated system consisting of centralized control system connected to power generating, distributing, and transmitting units which regulate, optimize, and manage the supply of electricity from distributed power generating sources to the consumers.

Insights on market segments:

Demand response has been recording the highest share in the virtual power plant market, due to its lower development cost and higher operational efficiency. The technology also offers incentives to customers in the form of lower electricity bills in case the customers alter their electricity consumption during peak hours.

In terms of value, electric vehicles is expected to be the fastest growing consumer category in the virtual power plant market. The growing focus on the usage of pollution-free vehicles is boosting the demand for these vehicles in North America and Europe.

North America is expected to be the largest market for virtual power plants

Globally, North America has been leading the global virtual power plant market in terms of value, with an estimated share of more than 40% in 2017. The U.S. and Canada are focusing more on the promotion of clean energy sources including wind, solar, and other renewable sources of electricity. Also, these countries are investing in the upgradation of power evacuation infrastructure through innovative technological solutions such as smart grids. The ongoing addition of renewable power projects along with the development of smart grids are likely to boost the virtual power plant market in North America.

Growing capacity of renewable power projects is expected to drive the market growth

Renewable energy is growing at a rapid pace as majority of nations across the world are moving away from conventional sources of energy as they have limited reserves. Majority of nations are investing heavily in renewable power projects in order to increase the share of renewable energy in the overall energy mix. For instance, China plans to produce 150-200 GW of solar power by the end of 2020. The growth of renewable power projects, particularly distributed energy resources, will require advanced power evacuation infrastructure in order to ensure reliable supply of electricity, which in turn would call for greater construction of these plants. Thus, the growing need for effective utilization of renewable power projects is expected to encourage the growth of the virtual power plant market.

Fast growing power sector in developing countries is laying opportunities for market growth

Countries such as India, Brazil, and Indonesia witness frequent power shortages due to low quality of power infrastructure. The rapid economic growth in these countries has helped in promoting investment in the power sector to support industrial and commercial activities. The growing investment in the power sector has resulted in growth opportunities for innovative solutions such as virtual power plants, which are needed for long term sustainability of newly developed power projects. Thus, the expanding power sector in emerging countries is laying opportunities for the growth of the virtual power plant market.

Virtual Power Plant Market - Competitive Landscape

Some of the major players operating in the global virtual power plant market are: Enbala Power Networks, AutoGrid Systems Inc., Sunverge Energy Inc., AGL Energy Limited (AGL), Limejump Ltd, EnerNoc Inc., ENGIE Storage Services NA LLC, ABB Ltd., Schneider Electric SE, and Siemens AG.

Table of Contents

Table of Content

Chapter 1. Research Background

  • 1.1 Research Objectives
  • 1.2 Market Definition
  • 1.3 Research Scope
    • 1.3.1 Market Segmentation by Technology
    • 1.3.2 Market Segmentation by Consumer
    • 1.3.3 Market Segmentation by Geography
    • 1.3.4 Analysis Period
    • 1.3.5 Market Data Reporting Unit
      • 1.3.5.1 Value
      • 1.3.5.2 Capacity
  • 1.4 Key Stakeholders

Chapter 2. Research Methodology

  • 2.1 Secondary Research
  • 2.2 Primary Research
    • 2.2.1 Breakdown of Primary Research Respondents
      • 2.2.1.1 By region
      • 2.2.1.2 By industry participant
      • 2.2.1.3 By company type
  • 2.3 Market Size Estimation
  • 2.4 Data Triangulation
  • 2.5 Assumptions for the Study

Chapter 3. Executive Summary

  • 3.1 Voice of Industry Experts/KOLs

Chapter 4. Introduction

  • 4.1 Definition of Market Segments
    • 4.1.1 By Technology
      • 4.1.1.1 Demand Response
      • 4.1.1.2 Supply Side
      • 4.1.1.3 Mixed Asset
    • 4.1.2 By Consumer
      • 4.1.2.1 Residential
      • 4.1.2.2 Commercial
      • 4.1.2.3 Industrial
      • 4.1.2.4 Electric Vehicles
  • 4.2 Value Chain Analysis
  • 4.3 Market Dynamics
    • 4.3.1 Trends
      • 4.3.1.1 Growing investments in setting up new virtual power plants
      • 4.3.1.2 Transition from centralized to decentralized power systems
    • 4.3.2 Drivers
      • 4.3.2.1 Growing capacity of renewable power projects
      • 4.3.2.2 Aging and inadequate power evacuation infrastructure
      • 4.3.2.3 Impact analysis of drivers on market forecast
    • 4.3.3 Restraints
      • 4.3.3.1 Lack of awareness among consumers
      • 4.3.3.2 Impact analysis of restraints on market forecast
    • 4.3.4 Opportunities
      • 4.3.4.1 Fast growing power sector in emerging economies

Chapter 5. Global Market Size and Forecast

  • 5.1 By Technology
  • 5.2 By Consumer
  • 5.3 By Region

Chapter 6. North America Market Size and Forecast

  • 6.1 By Technology
  • 6.2 By Consumer
  • 6.3 By Country

Chapter 7. Europe Market Size and Forecast

  • 7.1 By Technology
  • 7.2 By Consumer
  • 7.3 By Country

Chapter 8. APAC Market Size and Forecast

  • 8.1 By Technology
  • 8.2 By Consumer
  • 8.3 By Country

Chapter 9. MEA Market Size and Forecast

  • 9.1 By Technology
  • 9.2 By Consumer
  • 9.3 By Country

Chapter 10. LATAM Market Size and Forecast

  • 10.1 By Technology
  • 10.2 By Consumer
  • 10.3 By Country

Chapter 11. Competitive Landscape

  • 11.1 Competitive Benchmarking of Key Players
  • 11.2 Product Benchmarking of Key Players
  • 11.3 Global Strategic Developments of Key Players

Chapter 12. Company Profiles

  • 12.1 Enbala Power Networks
    • 12.1.1 Business Overview
    • 12.1.2 Product and Service Offerings
    • 12.1.3 Strategic Growth Plans
  • 12.2 AGL Energy Limited (AGL)
    • 12.2.1 Business Overview
    • 12.2.2 Product and Service Offerings
    • 12.2.3 Key Financial Summary
    • 12.2.4 Strategic Growth Plans
  • 12.3 AutoGrid Systems Inc.
    • 12.3.1 Business Overview
    • 12.3.2 Product and Service Offerings
    • 12.3.3 Strategic Growth Plans
  • 12.4 Limejump Ltd
    • 12.4.1 Business Overview
    • 12.4.2 Product and Service Offerings
  • 12.5 Sunverge Energy Inc.
    • 12.5.1 Business Overview
    • 12.5.2 Product and Service Offerings
    • 12.5.3 Strategic Growth Plans
  • 12.6 EnerNoc Inc.
    • 12.6.1 Business Overview
    • 12.6.2 Product and Service Offerings
    • 12.6.3 Key Financial Summary
    • 12.6.4 Strategic Growth Plans
  • 12.7 ENGIE Storage Services NA LLC
    • 12.7.1 Business Overview
    • 12.7.2 Product and Service Offerings
  • 12.8 ABB Group
    • 12.8.1 Business Overview
    • 12.8.2 Product and Service Offerings
    • 12.8.3 Key Financial Summary
    • 12.8.4 Strategic Growth Plans
  • 12.9 Schneider Electric SE
    • 12.9.1 Business Overview
    • 12.9.2 Product and Service Offerings
    • 12.9.3 Key Financial Summary
    • 12.9.4 Strategic Growth Plans
  • 12.10 Siemens AG
    • 12.10.1 Business Overview
    • 12.10.2 Product and Service Offerings
    • 12.10.3 Key Financial Summary
    • 12.10.4 Strategic Growth Plans

Chapter 13. Appendix

  • 13.1 Abbreviations
  • 13.2 Sources and References

LIST OF TABLES

  • TABLE 1 ANALYSIS PERIOD OF THE STUDY
  • TABLE 2 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
  • TABLE 3 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
  • TABLE 4 GLOBAL VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2017)
  • TABLE 5 GLOBAL VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2018-2023)
  • TABLE 6 GLOBAL VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2013-2017)
  • TABLE 7 GLOBAL VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2018-2023)
  • TABLE 8 GLOBAL VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2017)
  • TABLE 9 GLOBAL VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2018-2023)
  • TABLE 10 GLOBAL VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2013-2017)
  • TABLE 11 GLOBAL VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2018-2023)
  • TABLE 12 GLOBAL VIRTUAL POWER PLANT MARKET, BY REGION, MW (2013-2017)
  • TABLE 13 GLOBAL VIRTUAL POWER PLANT MARKET, BY REGION, MW (2018-2023)
  • TABLE 14 GLOBAL VIRTUAL POWER PLANT MARKET, BY REGION, $M (2013-2017)
  • TABLE 15 GLOBAL VIRTUAL POWER PLANT MARKET, BY REGION, $M (2018-2023)
  • TABLE 16 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2017)
  • TABLE 17 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2018-2023)
  • TABLE 18 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2013-2017)
  • TABLE 19 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2018-2023)
  • TABLE 20 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2017)
  • TABLE 21 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2018-2023)
  • TABLE 22 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2013-2017)
  • TABLE 23 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2018-2023)
  • TABLE 24 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2017)
  • TABLE 25 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2018-2023)
  • TABLE 26 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2013-2017)
  • TABLE 27 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2018-2023)
  • TABLE 28 EUROPE VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2017)
  • TABLE 29 EUROPE VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2018-2023)
  • TABLE 30 EUROPE POWER PLANT MARKET, BY TECHNOLOGY, $M (2013-2017)
  • TABLE 31 EUROPE VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2018-2023)
  • TABLE 32 EUROPE VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2017)
  • TABLE 33 EUROPE VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2018-2023)
  • TABLE 34 EUROPE VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2013-2017)
  • TABLE 35 EUROPE VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2018-2023)
  • TABLE 36 EUROPE VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2017)
  • TABLE 37 EUROPE VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2018-2023)
  • TABLE 38 EUROPE VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2013-2017)
  • TABLE 39 EUROPE VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2018-2023)
  • TABLE 40 APAC VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2017)
  • TABLE 41 APAC VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2018-2023)
  • TABLE 42 APAC VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2013-2017)
  • TABLE 43 APAC VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2018-2023)
  • TABLE 44 APAC VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2017)
  • TABLE 45 APAC VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2018-2023)
  • TABLE 46 APAC VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2013-2017)
  • TABLE 47 APAC VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2018-2023)
  • TABLE 48 APAC VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2017)
  • TABLE 49 APAC VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2018-2023)
  • TABLE 50 APAC VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2013-2017)
  • TABLE 51 APAC VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2018-2023)
  • TABLE 52 MEA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2017)
  • TABLE 53 MEA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2018-2023)
  • TABLE 54 MEA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2013-2017)
  • TABLE 55 MEA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2018-2023)
  • TABLE 56 MEA VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2017)
  • TABLE 57 MEA VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2018-2023)
  • TABLE 58 MEA VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2013-2017)
  • TABLE 59 MEA VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2018-2023)
  • TABLE 60 MEA VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2017)
  • TABLE 61 MEA VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2018-2023)
  • TABLE 62 MEA VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2013-2017)
  • TABLE 63 MEA VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2018-2023)
  • TABLE 64 LATAM VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2017)
  • TABLE 65 LATAM VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2018-2023)
  • TABLE 66 LATAM VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2013-2017)
  • TABLE 67 LATAM VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, $M (2018-2023)
  • TABLE 68 LATAM VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2017)
  • TABLE 69 LATAM VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2018-2023)
  • TABLE 70 LATAM VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2013-2017)
  • TABLE 71 LATAM VIRTUAL POWER PLANT MARKET, BY CONSUMER, $M (2018-2023)
  • TABLE 72 LATAM VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2017)
  • TABLE 73 LATAM VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2018-2023)
  • TABLE 74 LATAM VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2013-2017)
  • TABLE 75 LATAM VIRTUAL POWER PLANT MARKET, BY COUNTRY, $M (2018-2023)
  • TABLE 76 BENCHMARKING OF KEY PLAYERS
  • TABLE 77 ENBALA POWER NETWORKS - AT A GLANCE
  • TABLE 78 AGL ENERGY LIMITED- AT A GLANCE
  • TABLE 79 AGL ENERGY LIMITED (AGL)- KEY FINANCIAL SUMMARY
  • TABLE 80 AUTOGRID SYSTEMS INC.- AT A GLANCE
  • TABLE 81 LIMEJUMP LTD- AT A GLANCE
  • TABLE 82 SUNVERGE ENERGY INC.- AT A GLANCE
  • TABLE 83 ENERNOC INC.- AT A GLANCE
  • TABLE 84 ENERNOC INC.- KEY FINANCIAL SUMMARY
  • TABLE 85 ENGIE STORAGE SERVICES NA LLC- AT A GLANCE
  • TABLE 86 ABB GROUP - AT A GLANCE
  • TABLE 87 ABB GROUP- KEY FINANCIAL SUMMARY
  • TABLE 88 SCHNEIDER ELECTRIC SE- AT A GLANCE
  • TABLE 89 SCHNEIDER ELECTRIC SE - KEY FINANCIAL SUMMARY
  • TABLE 90 SIEMENS AG - AT A GLANCE
  • TABLE 91 SIEMENS AG - KEY FINANCIAL SUMMARY

LIST OF FIGURES

  • FIG 1 RESEARCH SCOPE
  • FIG 2 RESEARCH METHODOLOGY
  • FIG 3 REGIONAL SPLIT OF PRIMARY AND SECONDARY RESEARCH
  • FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY REGION
  • FIG 5 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
  • FIG 6 BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
  • FIG 7 DATA TRIANGULATION APPROACH
  • FIG 8 GLOBAL VIRTUAL POWER PLANT MARKET SUMMARY
  • FIG 9 OPINION OF INDUSTRY EXPERTS/KOLS
  • FIG 10 GLOBAL VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2023)
  • FIG 11 GLOBAL VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2023)
  • FIG 12 WORLDWIDE MAJOR MARKETS FOR VIRTUAL POWER PLANT
  • FIG 13 NORTH AMERICA VIRTUAL POWER PLANT MARKET SNAPSHOT
  • FIG 14 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2023)
  • FIG 15 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2023)
  • FIG 16 NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2023)
  • FIG 17 EUROPE VIRTUAL POWER PLANT MARKET SNAPSHOT
  • FIG 18 EUROPE VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2023)
  • FIG 19 EUROPE VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2023)
  • FIG 20 EUROPE VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2023)
  • FIG 21 APAC VIRTUAL POWER PLANT MARKET SNAPSHOT
  • FIG 22 APAC VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2023)
  • FIG 23 APAC VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2023)
  • FIG 24 APAC VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2023)
  • FIG 25 MEA VIRTUAL POWER PLANT MARKET SNAPSHOT
  • FIG 26 MEA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2023)
  • FIG 27 MEA VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2023)
  • FIG 28 MEA VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2023)
  • FIG 29 LATAM VIRTUAL POWER PLANT MARKET SNAPSHOT
  • FIG 30 LATAM VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, MW (2013-2023)
  • FIG 31 LATAM VIRTUAL POWER PLANT MARKET, BY CONSUMER, MW (2013-2023)
  • FIG 32 LATAM VIRTUAL POWER PLANT MARKET, BY COUNTRY, MW (2013-2023)
  • FIG 33 BENCHMARKING OF KEY PLAYERS IN VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY (2017)
  • FIG 34 ENERNOC INC. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2016)
  • FIG 35 ABB GROUP - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2016)
  • FIG 36 SCHNEIDER ELECTRIC SE- REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2016)
  • FIG 37 SIEMENS AG - REVENUE SPLIT BY SEGMENT (2017)
  • FIG 38 SIEMENS AG - REVENUE SPLIT BY GEOGRAPHY (2017)
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