The global virtual power plant market is expected to reach a market size of USD 3,724.2 million by 2028 at a relatively robust CAGR over the forecast period, according to latest analysis by Emergen Research. This growth can be attributed to factors such as increasing initiatives of various governments regarding adoption of renewable sources of energy, which is driving renewable power generation activities. Rapid urbanization and rising focus on decarbonization, along with the rapid digitalization trend, are other factors driving adoption of virtual power plants, and the trend is expected to continue during the forecast period. Increasing energy consumption is another factor driving demand for virtual power plants to monitor and increase production of energy from renewable sources. Technological advancements on the traditional power grid for development of a new smart decentralized grid with bi-directional energy is contributing to growth of the virtual power plants market. The global shift towards renewable and distributed power generation is another factor driving demand for virtual power plants. Rising demand for a low-carbon future and smaller and decentralized power generation units is expected to continue to present future growth opportunities for players operating in the global virtual power plant market. Leveraging of clean sources of power generation, which are cost-effective, such as solar, wind, and hydro, is contributing significantly to growth of the virtual power plant market, and the trend is expected to continue over the forecast period. Rising need to reduce dependence on fossil-fuel-based power generation is another factor projected to drive demand for virtual power plants.
The report provides detailed insights into Virtual Power Plant market size, market trends, industry trends, consumer trends, market forecast, revenue share growth, along with ranging impacts of each driver on market size. It also provides analysis of various factors expected to restrain or limit potential growth in Virtual Power Plant market size over the forecast period, 2020–2028. The report includes profiles of major players in the Virtual Power Plant market, strategies being employed/deployed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials.
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Global Virtual Power Plant market size expansion is significantly supported by contribution from major segments and increasing deployment in a range of applications.While conducting primary research, the researchers observed that the rapid growth of the Virtual Power Plant Market through the forecast duration is driven by the niche and emerging opportunities for the producers engaged in the worldwide Virtual Power Plant market. The worldwide Virtual Power Plant market has been categorized as product, end-user, and major geographic regions.
In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Virtual Power Plant market share contribution of these countries. In addition, Virtual Power Plant market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
Top key vendors in Virtual Power Plant Market include are:
AutoGrid Systems, Inc.,
Cisco systems, Inc.,
Cpower Energy Management,
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
- End-use Outlook (Revenue, USD Million; 2021–2028)
- Industrial and Commercial
- Technology Outlook (Revenue, USD Million; 2021–2028)
- Distributed Generation
- Demand Response
- Mixed Asset
- Regional Outlook (Revenue, USD Million; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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In terms of Virtual Power Plant market share and revenue contribution to the global Virtual Power Plant market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Virtual Power Plant market share.
The market intelligence report on the Virtual Power Plant Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
Region wise performance of the Virtual Power Plant industry
In terms of Virtual Power Plant market size, North America is expected to remain dominant among the other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting Virtual Power Plant market size growth.
Asia Pacific Virtual Power Plant market size is expected to remain steady, and register fastest revenue growth rate between 2020 and 2028. Rapid revenue growth rate in countries such as China and India is attributable to rapid growth in Virtual Power Plant market size in Asia Pacific, and the trend is expected to continue going ahead.
Continuous developments in countries in Europe is expected to support growth in regional market size over the forecast period.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
We can customize our reports for our customers, for instance, we can add or remove manufacturers, applications or product types, whatever you need in the report. Ask for it by contacting [email protected] https://www.emergenresearch.com/request-for-customization/492
The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Virtual Power Plant industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Virtual Power Plant market across different regions?
- Who are the major driving forces expected to decide the fate of the Virtual Power Plant industry worldwide?
- Who are the prominent market players making a mark in the Virtual Power Plant market with their winning strategies?
- Which Virtual Power Plant industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Virtual Power Plant market?
Table of Content
Chapter 1. Methodology & Sources
1.1. Virtual Power Plant Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Virtual Power Plant Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Virtual Power Plant Market Segmentation & Impact Analysis
4.1. Virtual Power Plant Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Virtual Power Plant Market indicators analysis
4.2.2. Virtual Power Plant Market drivers analysis
22.214.171.124. Rapid urbanization and industrialization
126.96.36.199. Stringent government regulations regarding carbon emissions
188.8.131.52. Increasing prevalence of respiratory diseases
184.108.40.206. Rising need to enhance indoor air quality
4.2.3. Virtual Power Plant Market restraints analysis
220.127.116.11. High cost associated with the maintenance of Virtual Power Plant products
18.104.22.168. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. Virtual Power Plant Market Revenue Share By Manufacturers
10.2. Mergers & Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.3. Asia Pacific
10.5.1.4. Middle East & Africa
10.5.1.5. Latin America
10.5.2.1. North America
10.5.2.3. Asia Pacific
10.5.2.4. Middle East & Africa
10.5.2.5. Latin America
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