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Virtual Power Plants - Global Market Trajectory & Analytics

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    Report

  • 245 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4806189

Global Virtual Power Plants Market to Reach $1.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Virtual Power Plants estimated at US$413.5 Million in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2027, growing at a CAGR of 24% over the period 2020-2027. Demand Response, one of the segments analyzed in the report, is projected to record a 23.8% CAGR and reach US$1.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Distributed Generation segment is readjusted to a revised 22.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $240.7 Million, While China is Forecast to Grow at 30.6% CAGR

The Virtual Power Plants market in the U.S. is estimated at US$240.7 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$101.3 Million by the year 2027 trailing a CAGR of 30.6% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.1% and 23.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 23.9% CAGR.

Mixed Asset Segment to Record 30.3% CAGR

In the global Mixed Asset segment, USA, Canada, Japan, China and Europe will drive the 30.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$22.6 Million in the year 2020 will reach a projected size of US$142.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 40 Featured)

  • ABB
  • Siemens
  • Schneider Electric
  • AutoGrid
  • Next Kraftwerke
  • AGL Energy
  • Enel X
  • General Electric
  • Blue Pillar, Inc.
  • Cisco Systems, Inc.
  • Enbala Power Networks, Inc.
  • Hitachi, Ltd.
  • Robert Bosch GmbH
  • International Business Machines Corporation

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Virtual Power Plants

What is the estimated value of the Global Market for Virtual Power Plants?

The Global Market for Virtual Power Plants was estimated to be valued at $413.5 Million in 2020.

What is the growth rate of the Global Market for Virtual Power Plants?

The growth rate of the Global Market for Virtual Power Plants is 24.3%, with an estimated value of $1900 Million by 2027.

What is the forecasted size of the Global Market for Virtual Power Plants?

The Global Market for Virtual Power Plants is estimated to be worth $1900 Million by 2027.

Who are the key companies in the Global Market for Virtual Power Plants?

Key companies in the Global Market for Virtual Power Plants include ABB, Siemens, Schneider Electric, AutoGrid, Next Kraftwerke, AGL Energy, Enel X, General Electric and Cisco Systems, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Virtual Power Plants - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Growing Investments in Energy Infrastructure: The Cornerstone for Growth in the Market
  • Growing Investments in Energy Infrastructure Provides a Launch Pad for the Rise & Proliferation of VPPs: Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
  • These are Times When Questions Abound & Answers Are Few
  • So How Fast Or Slow Are We Moving?
  • How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • India's Second Wave Makes It Clear That Equity is Not a Part of Global Policy on Tackling COVID
  • What We Know So Far - “Vaccine Efficiency Against New Strains is Decreasing”
  • Progress on Vaccinations, Why Should Businesses Care?
  • With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback
  • A Strong 2021 Economic Rebound Based On Pent-Up Demand Comes as a Relief for Suffering Industries & Markets: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • A Retrospective Review of Year 2020 as the Worst Year in Humanity's History that Left the World in Shambles & Industries and Markets Upended
  • How the Energy Industry is Impacted by the Pandemic & What's the New Normal?
  • Global Energy Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Global Utilities Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Beyond the Current Challenges, the Pandemic Will Fuel Our Energy Transition
  • Global Clean Technologies Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Virtual Power Plants (VPPs): Meaning, Importance, Functioning & Benefits
  • Recent Market Activity
  • Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Distributed Energy Generation: A Key Energy Transformation Goal & Foundation for the Rise of the Concept of Virtual Power Plants (VPPs)
  • Role of Virtual Power Plants (VPP) in a Decentralized Power Grid
  • Growing Value of Demand Response (DR) Throws the Focus on VPPs as an Effective Tool to Achieve DR Goals
  • Rise of Smart Cities & Smart Grids Bodes Well for Increased Investments in VPPs
  • Smart Cities Get a COVID-19 Boost
  • Focus on Reshaping City Resilience to Future Pandemics & Crisis Will Spur Rejuvenated Spending on Smart City Projects in the Post COVID-19 Period, Providing a Goldmine of Opportunities for VPPs: Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
  • Smart Grid: A Critical Part of Energy Infrastructure in Smart Cities & a Strong Business Case for VPPs
  • Global Smart Grid Market Opportunity (In US$ Billion) for Years 2021, 2023 & 2024
  • Growing Digitalization of Energy to Further Spur the Rise of VPPs
  • COVID-19 Fast-Forwards Digital Revolution Across Industries
  • Over 60% of Companies in North America, Europe & Asia Expect to Witness Higher Velocity of Change in Digital Transformation During the Years 2020 through 2023: Global Digital Transformation Growth (In %)
  • Special Focus on Energy Digitalization
  • Global Opportunities for Digital Technologies in the Energy Industry by Segment (In US$ Billion)
  • IoT Makes Electricity Generation Efficient, Affordable and Sustainable: Global IoT in Energy Market (In US$ Billion) for the Years 2019, 2021, 2023, 2025 & 2026
  • Optimal Management of Renewable Energy Sources Throws the Spotlight on VPPs
  • Rise of Renewables Throws the Spotlight on VPPs: Global Projected Net Capacity Additions of Renewable Energy (In GW) for the Period 2019 to 2024
  • Growing Share of Renewables Against the Backdrop of the Focus on Decarbonization of Human Civilization to Open New Opportunities for VPPs: World Energy Production (In Billion Kilowatt Hours) by Energy Source for the Years 2020, 2030 and 2040
  • Concept of Blockchain-Based Decentralized Virtual Power Plants Gains Momentum & Preeminence
  • Global Market for Blockchain Technology in the Energy Sector (In US$ Billion) for Years 2020, 2022, 2024 & 2026 Rise in Energy Trading to Benefit Market Growth
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Virtual Power Plants by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 2: World 7-Year Perspective for Virtual Power Plants by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027
  • Table 3: World Recent Past, Current & Future Analysis for Demand Response by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 4: World 7-Year Perspective for Demand Response by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 5: World Recent Past, Current & Future Analysis for Distributed Generation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 6: World 7-Year Perspective for Distributed Generation by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Mixed Asset by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 8: World 7-Year Perspective for Mixed Asset by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 9: World Recent Past, Current & Future Analysis for Industrial & Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 10: World 7-Year Perspective for Industrial & Commercial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 11: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 12: World 7-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Virtual Power Plants Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Table 13: USA Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 14: USA 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 15: USA Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 16: USA 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
CANADA
  • Table 17: Canada Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 18: Canada 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 19: Canada Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 20: Canada 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
JAPAN
  • Virtual Power Plants Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Table 21: Japan Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 22: Japan 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 23: Japan Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 24: Japan 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
CHINA
  • Virtual Power Plants Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Table 25: China Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 26: China 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 27: China Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 28: China 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
EUROPE
  • Virtual Power Plants Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Table 29: Europe Recent Past, Current & Future Analysis for Virtual Power Plants by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 30: Europe 7-Year Perspective for Virtual Power Plants by Geographic Region - Percentage Breakdown of Value Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2021 & 2027
  • Table 31: Europe Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 32: Europe 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 33: Europe Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 34: Europe 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
FRANCE
  • Virtual Power Plants Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • Table 35: France Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 36: France 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 37: France Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 38: France 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
GERMANY
  • Virtual Power Plants Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Table 39: Germany Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 40: Germany 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 41: Germany Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 42: Germany 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
ITALY
  • Table 43: Italy Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 44: Italy 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 45: Italy Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 46: Italy 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
UNITED KINGDOM
  • Virtual Power Plants Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Table 47: UK Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 48: UK 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 49: UK Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 50: UK 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
REST OF EUROPE
  • Table 51: Rest of Europe Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 52: Rest of Europe 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 53: Rest of Europe Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 54: Rest of Europe 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
ASIA-PACIFIC
  • Virtual Power Plants Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Table 55: Asia-Pacific Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 56: Asia-Pacific 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 57: Asia-Pacific Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 58: Asia-Pacific 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
REST OF WORLD
  • Table 59: Rest of World Recent Past, Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 60: Rest of World 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
  • Table 61: Rest of World Recent Past, Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • Table 62: Rest of World 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
IV. COMPETITION
  • Total Companies Profiled: 40

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB
  • Siemens
  • Schneider Electric
  • AutoGrid
  • Next Kraftwerke
  • AGL Energy
  • Enel X
  • General Electric
  • Blue Pillar, Inc.
  • Cisco Systems, Inc.
  • Enbala Power Networks, Inc.
  • Hitachi, Ltd.
  • Robert Bosch GmbH
  • International Business Machines Corporation