Virtual Power Plant Market Forecast, Revenue, Demand, Growth and Key Companies Valuation by 2028

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 Virtual Power Plant market forecast, supported by detailed insights historical data and revenues, past and current market trends, industry trends, consumer trends, market size, market share, market growth, along with ranging impacts of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in market size over the forecast period, 2020–2028. The report includes profiles of major players in the market, strategies being employed, 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 forecast has been provided following thorough study, focus, comparison, and analysis of a varying range of factors and past market forecast and present outcomes. Virtual Power Plant Market forecast is made possible through, but has not been limited to, a study and analysis of a variety of factors and trends, and these are verified through interviews with industry experts and companies operating in the market.

Rising focus by major companies on product/service expansion into new and untapped domestic markets, increasing investments in strategic agreements, favourable government policies and regulations, and growing competition in the market are some major trends observed in the Virtual Power Plant market. Development of more advanced offerings is driving rising demand and deployment in respective sectors/industries, and this is expected to drive Virtual Power Plant market revenue growth to a significant extent over the forecast period.

Top key vendors in Virtual Power Plant Market include are:

ABB,

AutoGrid Systems, Inc.,

Blue Pillar,

Cisco systems, Inc.,

Cpower Energy Management,

Enel X,

General Electric,

Hitachi, Ltd.,

IBM, and

Next Kraftwerke.

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)
Residential
Industrial and Commercial

Technology Outlook (Revenue, USD Million; 2021–2028)
- Distributed Generation
- Demand Response
- Mixed Asset

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Incorporated with Info-graphics, charts, 70 tables and 85 figures, this 250-page research report “Virtual Power Plant Market Size, Type, Application, End-Use Industry, Regional Outlook, Competitive Strategies and Forecasts, 2020 - 2027” is based on a complete research of the entire Global market and covering all its sub-segments through comprehensively thorough classifications. Insightful analysis and assessment are created from superior primary and secondary information sources with data and information derived from industry specialists across the value chain.

Region wise performance of the Virtual Power Plant industry

North America Virtual Power Plant market forecast is expected to remain significantly positive in terms of revenue share between 2020 and 2028. In addition, North America Virtual Power Plant market revenue share is expected to remain comparatively larger than that of other regional markets from 2020 to 2028.

Asia Pacific registered fastest revenue CAGR in 2020, and the Virtual Power Plant market forecast is that this trend is expected to continue going ahead. Market forecast states that revenue share contribution from China, India, and South Korea is expected to remain robust till 2028.

Europe Virtual Power Plant market forecast is positive currently, with revenue growth expected to remain steady between 2020 and 2028. Robust focus on research and development initiatives by major firms and changing trends and demographics in countries in the region are some factors expected to continue to support Virtual Power Plant market growth.

Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

United States
Europe
China
Japan
Southeast Asia
India

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

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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

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Virtual Power Plant Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2021-2028