Global Virtual Power Plants Market Size, Share, Trends, Industry Growth by Technology (Demand Response, Distributed Generation, Mixed Asset), by Source (Solar, Wind, Small Hydro, Batteries, Others), by End-User, by Region, and Forecast to 2028

Price: 3600/- USD | Published Date: June 14, 2022 |

The global virtual power plants market is anticipated to grow at a higher CAGR during the forecast period from 2022 to 2028. The increasing adoption of renewable energy sources in the power generation sector and the decreasing solar energy generation cost are some major factors driving the market growth. Furthermore, the sustainable shift toward renewable distributed energy generation such as solar PV, fuel cells, and turbines are further anticipated to fuel the market. Moreover, the rapid growth in urbanization, the increasing number of smart city projects in developed economies, and the rising demand to reduce the electricity bills are projected to propel the market growth over the forecast period.

Market Insights:

The global virtual power plants market is bifurcated into technology, source, end-user, and geography. On the basis of technology, the market is further segmented into demand response, distributed generation, and mixed asset technology. The demand response technology segment dominated the global market in 2021 and estimated to register the fastest growth rate over the forecast period. The ability to enhance the grid energy efficiency is a major factor to drive the segment growth. Furthermore, the increasing investment in the technology and the benefits associated with the solution such as peak load management are further expected to fuel the segment growth over the forecast period.

On the basis of end-user, the market is bifurcated into industrial, commercial, and residential. The residential segment dominated the global market in 2021 and is expected to hold a significant revenue share of around 2/3 market share by the end of the analysis period. The increasing adoption of smart grids and the growing penetration of smart home appliances and smart meters are some major factors driving the segment growth. Furthermore, the increasing adoption of virtual power plants in the residential sector and the increasing government initiatives for the development of the solutions are expected to fuel the segment growth over the forecast period.

Virtual Power Plants Market Trends & Forecast

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The virtual power plants comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The virtual power plants market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2019-20 – Historical Year
  • 2021 – Base Year
  • 2022-2028 – Forecast Period

Global Virtual Power Plants Market Segmentation:

Virtual Power Plants Market Segmentation by Technology:

  • Demand Response
  • Distributed Generation
  • Mixed Asset

Virtual Power Plants Market Segmentation by Source:

  • Solar
  • Wind
  • Small Hydro
  • Batteries
  • Others

Virtual Power Plants Market Segmentation by End-User:

  • Industrial
  • Commercial
  • Residential

Virtual Power Plants Market Segmentation by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Virtual Power Plants Market: Geographic Coverage

Geographically, North America dominated the global virtual power plants market in 2021 and is estimated to hold the largest revenue share of over 1/3 market share by the end of the analysis period. the increasing adoption of virtual power plant solutions in the commercial and industrial sectors, technological advancement, and the increasing inclination toward reducing greenhouse gas emissions are some major factors driving the market growth in the region. On the flip side, the Asia Pacific is accounted to register the fastest growth rate in the market over the forecast period. The increasing adoption of renewable energy sources in both the commercial and residential sectors is one of the prominent factors fueling the market growth in the Asia Pacific.

The virtual power plants market report comprises dedicated sections centering on the regional market revenue and trends. The virtual power plants market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The virtual power plants market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Virtual power plants market estimates have also been provided for the historical years 2019 & 2020 along with forecasts for the period from 2022 – 2028.

Virtual Power Plants Market: Competitive Assessment

Some of the major market players operating in the global virtual power plants market are ABB, Ltd., AGL Energy, AutoGrid Systems, Inc., Blue Pillar, Inc., and Cisco Systems, Inc. Companies are exploring markets by expansion, new investments, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

List of Key Companies:

  • ABB, Ltd.
  • AGL Energy
  • AutoGrid Systems, Inc.
  • Blue Pillar, Inc.
  • Cisco Systems, Inc.
  • Comverge
  • Cpower Energy Management
  • Enbala Power Networks, Inc.
  • Enel X
  • Enernoc, Inc.
  • Flexitricity Limited

Key Questions Answered by Virtual Power Plants Market Report

  • Global virtual power plants market forecasts from 2022-2028
  • Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
  • Virtual power plants submarket forecasts from 2022-2028 covering the market by technology, by source, by end-user, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level virtual power plants markets from 2022-2028
  • Competitive Landscape and market positioning of top 10 players operating in the market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Virtual Power Plants Market Portraiture
2.2. Global Virtual Power Plants Market, by Technology, 2021 (USD Mn)
2.3. Global Virtual Power Plants Market, by Source, 2021 (USD Mn)
2.4. Global Virtual Power Plants Market, by End-User, 2021 (USD Mn)
2.5. Global Virtual Power Plants Market, by Geography, 2021 (USD Mn)

 

3. Global Virtual Power Plants Market Analysis


3.1. Virtual Power Plants Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis

 

4. Global Virtual Power Plants Market By Technology, 2019 – 2028 (USD Mn)


4.1. Overview
4.2. Demand Response
4.3. Distributed Generation
4.4. Mixed Asset

 

5. Global Virtual Power Plants Market By Source, 2019 – 2028 (USD Mn)


5.1. Overview
5.2. Solar
5.3. Wind
5.4. Small Hydro
5.5. Batteries
5.6. Others

 

6. Global Virtual Power Plants Market By End-User, 2019 – 2028 (USD Mn)


6.1. Overview
6.2. Industrial
6.3. Commercial
6.4. Residential

 

7. North America Virtual Power Plants Market Analysis and Forecast, 2019 – 2028 (USD Mn)


7.1. Overview
7.2. North America Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
7.3. North America Virtual Power Plants Market by Source, (2019-2028 USD Mn)
7.4. North America Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
7.5. North America Virtual Power Plants Market by Country, (2019-2028 USD Mn)
7.5.1. U.S.
7.5.1.1. U.S. Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
7.5.1.2. U.S. Virtual Power Plants Market by Source, (2019-2028 USD Mn)
7.5.1.3. U.S. Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
7.5.2. Canada
7.5.2.1. Canada Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
7.5.2.2. Canada Virtual Power Plants Market by Source, (2019-2028 USD Mn)
7.5.2.3. Canada Virtual Power Plants Market by End-User, (2019-2028 USD Mn)

 

8. Europe Virtual Power Plants Market Analysis and Forecast, 2019 – 2028 (USD Mn)


8.1. Overview
8.2. Europe Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
8.3. Europe Virtual Power Plants Market by Source, (2019-2028 USD Mn)
8.4. Europe Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
8.5. Europe Virtual Power Plants Market by Country, (2019-2028 USD Mn)
8.5.1. Germany
8.5.1.1. Germany Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
8.5.1.2. Germany Virtual Power Plants Market by Source, (2019-2028 USD Mn)
8.5.1.3. Germany Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
8.5.2. U.K.
8.5.2.1. U.K. Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
8.5.2.2. U.K. Virtual Power Plants Market by Source, (2019-2028 USD Mn)
8.5.2.3. U.K. Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
8.5.3. France
8.5.3.1. France Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
8.5.3.2. France Virtual Power Plants Market by Source, (2019-2028 USD Mn)
8.5.3.3. France Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
8.5.4. Italy
8.5.4.1. Italy Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
8.5.4.2. Italy Virtual Power Plants Market by Source, (2019-2028 USD Mn)
8.5.4.3. Italy Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
8.5.5. Rest of Europe
8.5.5.1. Rest of Europe Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
8.5.5.2. Rest of Europe Virtual Power Plants Market by Source, (2019-2028 USD Mn)
8.5.5.3. Rest of Europe Virtual Power Plants Market by End-User, (2019-2028 USD Mn)

 

9. Asia Pacific Virtual Power Plants Market Analysis and Forecast, 2019 – 2028 (USD Mn)


9.1. Overview
9.2. Asia Pacific Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
9.3. Asia Pacific Virtual Power Plants Market by Source, (2019-2028 USD Mn)
9.4. Asia Pacific Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
9.5. Asia Pacific Virtual Power Plants Market by Country, (2019-2028 USD Mn)
9.5.1. China
9.5.1.1. China Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
9.5.1.2. China Virtual Power Plants Market by Source, (2019-2028 USD Mn)
9.5.1.3. China Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
9.5.2. Japan
9.5.2.1. Japan Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
9.5.2.2. Japan Virtual Power Plants Market by Source, (2019-2028 USD Mn)
9.5.2.3. Japan Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
9.5.3. India
9.5.3.1. India Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
9.5.3.2. India Virtual Power Plants Market by Source, (2019-2028 USD Mn)
9.5.3.3. India Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
9.5.4. Rest of Asia Pacific
9.5.4.1. Rest of Asia Pacific Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
9.5.4.2. Rest of Asia Pacific Virtual Power Plants Market by Source, (2019-2028 USD Mn)
9.5.4.3. Rest of Asia Pacific Virtual Power Plants Market by End-User, (2019-2028 USD Mn)

 

10. Latin America (LATAM) Virtual Power Plants Market Analysis and Forecast, 2019 – 2028 (USD Mn)


10.1. Overview
10.2. Latin America Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
10.3. Latin America Virtual Power Plants Market by Source, (2019-2028 USD Mn)
10.4. Latin America Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
10.5. Latin America Virtual Power Plants Market by Country, (2019-2028 USD Mn)
10.5.1. Brazil
10.5.1.1. Brazil Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
10.5.1.2. Brazil Virtual Power Plants Market by Source, (2019-2028 USD Mn)
10.5.1.3. Brazil Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
10.5.2. Mexico
10.5.2.1. Mexico Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
10.5.2.2. Mexico Virtual Power Plants Market by Source, (2019-2028 USD Mn)
10.5.2.3. Mexico Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
10.5.3. Rest of Latin America
10.5.3.1. Rest of Latin America Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
10.5.3.2. Rest of Latin America Virtual Power Plants Market by Source, (2019-2028 USD Mn)
10.5.3.3. Rest of Latin America Virtual Power Plants Market by End-User, (2019-2028 USD Mn)

 

11. Middle East and Africa Virtual Power Plants Market Analysis and Forecast, 2019 – 2028 (USD Mn)


11.1. Overview
11.2. MEA Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
11.3. MEA Virtual Power Plants Market by Source, (2019-2028 USD Mn)
11.4. MEA Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
11.5. Middle East and Africa Virtual Power Plants Market, by Country, (2019-2028 USD Mn)
11.5.1. GCC
11.5.1.1. GCC Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
11.5.1.2. GCC Virtual Power Plants Market by Source, (2019-2028 USD Mn)
11.5.1.3. GCC Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
11.5.2. South Africa
11.5.2.1. South Africa Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
11.5.2.2. South Africa Virtual Power Plants Market by Source, (2019-2028 USD Mn)
11.5.2.3. South Africa Virtual Power Plants Market by End-User, (2019-2028 USD Mn)
11.5.3. Rest of MEA
11.5.3.1. Rest of MEA Virtual Power Plants Market by Technology, (2019-2028 USD Mn)
11.5.3.2. Rest of MEA Virtual Power Plants Market by Source, (2019-2028 USD Mn)
11.5.3.3. Rest of MEA Virtual Power Plants Market by End-User, (2019-2028 USD Mn)

 

12. Company Profiles


12.1. ABB, Ltd.
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. AGL Energy
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. AutoGrid Systems, Inc.
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. Blue Pillar, Inc.
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. Cisco Systems, Inc.
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. Comverge
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. Cpower Energy Management
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. Enbala Power Networks, Inc.
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. Enel X
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. Enernoc, Inc.
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
12.11. Flexitricity Limited
12.11.1. Business Description
12.11.2. Financial Health and Budget Allocation
12.11.3. Product Positions/Portfolio
12.11.4. Recent Development
12.11.5. SWOT Analysis
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