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Virtual Power Plant Market by Technology and by End User: Global Opportunity Analysis and Industry Forecast, 2020-2027

  • ID: 5125498
  • Report
  • May 2020
  • Region: Global
  • 182 Pages
  • Allied Analytics LLP

FEATURED COMPANIES

  • ABB Ltd.
  • AGL Energy
  • AutoGrid Systems Inc.
  • Enbala Power Networks
  • Enel X Inc.
  • General Electric Company
The global virtual power plant market was valued at $1.3 billion in 2019, and is projected to reach $5.9 billion by 2027, growing at a CAGR of 21.3% from 2020 to 2027.



Virtual power plant, an aggregated decentralized power plant, consisting of decentralized power systems with the purpose to integrate different distributed energy sources such as solar PV cells, wind turbines, and hydroelectric plants. Additionally, virtual power plant offers efficient power generation even at peak load periods with a scope to trade or sell power in trading market. Virtual power plant is medium scale power generating unit integrating different renewable energy sources for solar, wind and other flexible power consumers and storage systems. A virtual power plant consists of different mixed assets that are connected via central control system processing wide range of information, such as current prices at the power exchange, price and weather forecasts, and grid information of the system operators.

Growing penetration for renewable energy in power generation sector coupled with shifting trend of power grids from centralized to distributed is expected to drive the market growth. Further reduction in energy cost and easy accessibility of energy storage will boost the market demand. For instance, Tesla reported in their recent virtual power plant project 70% decrease in grid consumption, while bills have been reduced by up to 30%. Additionally, VPP is highly efficient and flexible to deliver during the peak load electricity in a short notice period compared to conventional power plant set up that will further drive the market growth. Flexibility in trading with virtual power plant due to price volatility attracted lot of new participants. Customers can sell excess energy at trade market as well as buy energy at lower price. Such features of virtual power plant is expected to further fuel the demand. However, high-frequency of electromagnetic and radio waves leads to health concerns in infants and old people, which may hamper this growth. Nonetheless, stringent government regulations regarding eco-friendly power generation will further enhance the market for renewable energy, thus fueling the demand for virtual power plant market.

The global virtual power plant market is segmented based on technology, end user, and region. Based on technology, it is categorized into distribution generation, demand response, and mixed asset. Based on end user, it is divided into commercial, industrial, and residential. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Major players have adopted product launch, business expansion, and partnerships to sustain the intense market competition. The key players profiled in the report include ABB Ltd., AGL Energy, AutoGrid Systems, Inc., Enbala Power Networks, Enel X Inc., General Electric Company, Siemens AG, Schneider Electric SE, Limejump Ltd., and others.

KEY BENEFITS FOR STAKEHOLDERS
  • The global virtual power plant market analysis covers in-depth information of major industry participants.
  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides an in-depth analysis of the global virtual power plant market forecast for the period 2020–2027.
  • The report outlines the current global virtual power plant market trends and future estimations of the global virtual power plant market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
  • The key drivers, restraints, and global virtual power plant market opportunity and their detailed impact analysis is elucidated in the study.

KEY MARKET SEGMENTS

By Technology
  • Distribution Generation
  • Demand Response
  • Mixed Asset

By End User
  • Commercial
  • Industrial
  • Residential

By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA
Frequently Asked Questions about the Global Virtual Power Plant Market

What is the estimated value of the Global Virtual Power Plant Market?

The Global Virtual Power Plant Market was estimated to be valued at $1.3 billion in 2019.

What is the growth rate of the Global Virtual Power Plant Market?

The growth rate of the Global Virtual Power Plant Market is 20.8%, with an estimated value of $5.9 billion by 2027.

What is the forecasted size of the Global Virtual Power Plant Market?

The Global Virtual Power Plant Market is estimated to be worth $5.9 billion by 2027.

Who are the key companies in the Global Virtual Power Plant Market?

Key companies in the Global Virtual Power Plant Market include ABB Ltd., AGL Energy, AutoGrid Systems Inc., Enbala Power Networks, Enel X Inc., General Electric Company, Siemens AG and Limejump Ltd..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Ltd.
  • AGL Energy
  • AutoGrid Systems Inc.
  • Enbala Power Networks
  • Enel X Inc.
  • General Electric Company

Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Key Findings of the Study
2.2. CXO Perspective
Chapter 3: Market Landscape
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.2.3. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.4. Market Share Analysis & Top Player Positioning, 2019
3.4.1. Top Player Positioning, 2019
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Rise in Demand for Renewable Energy in Power Generation Sector
3.5.1.2. Changes in Dynamic of Power Grids from Centralized to Distributed
3.5.1.3. Moderating Costs and Easy Accessibility of Energy Storage
3.5.2. Restraint
3.5.2.1. Limited Options for Complex Design Structure
3.5.2.2. Health Concerns Over High-Frequency Human Exposure of Electromagnetic and Radio Waves
3.5.3. Opportunity
3.5.3.1. Emerging Shift Towards Electric Vehicles and Promotion of Intelligent Office Buildings and Smart Grids
3.6. Impact of Covid-19 Outburst on the Virtual Power Plant Market
Chapter 4: Virtual Power Plant Market, by Technology
4.1. Overview
4.1.1. Market Size and Forecast
4.1.2. Distribution Generation
4.1.2.1. Key Market Trends, Growth Factors, and Opportunities
4.1.2.2. Market Size and Forecast, by Region
4.1.3. Demand Response
4.1.3.1. Key Market Trends, Growth Factors, and Opportunities
4.1.3.2. Market Size and Forecast, by Region
4.1.4. Mixed Asset
4.1.4.1. Key Market Trends, Growth Factors, and Opportunities
4.1.4.2. Market Size and Forecast, by Region
Chapter 5: Virtual Power Plant Market, by End-user
5.1. Overview
5.1.1. Market Size and Forecast
5.1.2. Industrial
5.1.2.1. Key Market Trends, Growth Factors, and Opportunities
5.1.2.2. Market Size and Forecast, by Region
5.1.3. Commercial
5.1.3.1. Key Market Trends, Growth Factors, and Opportunities
5.1.3.2. Market Size and Forecast, by Region
5.1.4. Residential
5.1.4.1. Key Market Trends, Growth Factors, and Opportunities
5.1.4.2. Market Size and Forecast, by Region
Chapter 6: Virtual Power Plant Market, by Region
6.1. Overview
6.1.1. Market Size and Forecast
6.2. North America
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, by Technology
6.2.3. Market Size and Forecast, by End-user
6.2.4. Market Share Analysis, by Country
6.2.5. U. S.
6.2.5.1. Market Size and Forecast, by Technology
6.2.5.2. Market Size and Forecast, by End-user
6.2.6. Canada
6.2.6.1. Market Size and Forecast, by Technology
6.2.6.2. Market Size and Forecast, by End-user
6.2.7. Mexico
6.2.7.1. Market Size and Forecast, by Technology
6.2.7.2. Market Size and Forecast, by End-user
6.3. Europe
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, by Technology
6.3.3. Market Size and Forecast, by End-user
6.3.4. Market Share Analysis, by Country
6.3.5. Germany
6.3.5.1. Market Size and Forecast, by Technology
6.3.5.2. Market Size and Forecast, by End-user
6.3.6. UK
6.3.6.1. Market Size and Forecast, by Technology
6.3.6.2. Market Size and Forecast, by End-user
6.3.7. France
6.3.7.1. Market Size and Forecast, by Technology
6.3.7.2. Market Size and Forecast, by End-user
6.3.8. Italy
6.3.8.1. Market Size and Forecast, by Technology
6.3.8.2. Market Size and Forecast, by End-user
6.3.9. Rest of Europe
6.3.9.1. Market Size and Forecast, by Technology
6.3.9.2. Market Size and Forecast, by End-user
6.4. Asia-Pacific
6.4.1. Key Market Trends, Growth Factors, and Opportunities
6.4.2. Market Size and Forecast, by Technology
6.4.3. Market Size and Forecast, by End-user
6.4.4. Market Share Analysis, by Country
6.4.5. China
6.4.5.1. Market Size and Forecast, by Technology
6.4.5.2. Market Size and Forecast, by End-user
6.4.6. Japan
6.4.6.1. Market Size and Forecast, by Technology
6.4.6.2. Market Size and Forecast, by End-user
6.4.7. India
6.4.7.1. Market Size and Forecast, by Technology
6.4.7.2. Market Size and Forecast, by End-user
6.4.8. Australia
6.4.8.1. Market Size and Forecast, by Technology
6.4.8.2. Market Size and Forecast, by End-user
6.4.9. Rest of Asia-Pacific
6.4.9.1. Market Size and Forecast, by Technology
6.4.9.2. Market Size and Forecast, by End-user
6.5. LAMEA
6.5.1. Key Market Trends, Growth Factors, and Opportunities
6.5.2. Market Size and Forecast, by End-user
6.5.3. Market Share Analysis, by Country
6.5.4. Brazil
6.5.4.1. Market Size and Forecast, by Technology
6.5.4.2. Market Size and Forecast, by End-user
6.5.5. Saudi Arabia
6.5.5.1. Market Size and Forecast, by Technology
6.5.5.2. Market Size and Forecast, by End-user
6.5.6. South Africa
6.5.6.1. Market Size and Forecast, by Technology
6.5.6.2. Market Size and Forecast, by End-user
6.5.7. Rest of LAMEA
6.5.7.1. Market Size and Forecast, by Technology
6.5.7.2. Market Size and Forecast, by End-user
Chapter 7: Competitive Landscape
7.1. Introduction
7.2. Product Mapping of Top 10 Players
7.3. Competitive Heatmap
7.4. Key Development
7.4.1. Business Expansion
7.4.2. New Product
7.4.3. Partnership
Chapter 8: Company Profiles
8.1. Abb Ltd.
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Product Portfolio
8.1.4. Business Performance
8.1.5. Key Strategic Moves and Developments
8.2. Agl Energy Limited
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Product Portfolio
8.2.5. Business Performance
8.2.6. Key Strategic Moves and Developments
8.3. Autogrid SysteMS, Inc.
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Operating Business Segments
8.3.4. Product Portfolio
8.3.5. Key Strategic Moves and Developments
8.4. Enbala Power Networks
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Product Portfolio
8.4.5. Key Strategic Moves and Developments
8.5. Enel X, Inc.
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Product Portfolio
8.5.5. Business Performance
8.5.6. Key Strategic Moves and Developments
8.6. General Electric Company
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Operating Business Segments
8.6.4. Product Portfolio
8.6.5. Business Performance
8.6.6. Key Strategic Moves and Developments
8.7. Limejump Energy Ltd.
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Operating Business Segments
8.7.4. Product Portfolio
8.8. Schneider Electric Se
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Operating Business Segments
8.8.4. Product Portfolio
8.8.5. Business Performance
8.9. Siemens AG
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Operating Business Segments
8.9.4. Product Portfolio
8.9.5. Business Performance
8.9.6. Key Strategic Moves and Developments
8.10. Sunverge Energy Inc.
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Operating Business Segments
8.10.4. Product Portfolio
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Ltd.
  • AGL Energy
  • AutoGrid Systems Inc.
  • Enbala Power Networks
  • Enel X Inc.
  • General Electric Company
According to the report titled, 'Virtual Power Plant Market by Technology, End-User: Opportunity Analysis and Industry Forecast, 2020-2027', the global Virtual Power Plant market size was valued at $1.3 billion in 2019, and is projected to reach $5.9 billion by 2027, growing at a CAGR of 21.3% from 2020 to 2027.

Virtual power plant is an aggregation of decentralized generators with the outline to integrate different distributed energy sources such as biomass plants, biogas block heating plants, wind turbines, and hydroelectric plants. In addition, virtual power plant offers enhanced power generation with a scope to trade or sell power on the electricity market. It is a medium-scale power generating unit for solar, wind, and other flexible power consumers and storage systems. A virtual power plant consists of different assets that are connected via central control system processing wide range of information, such as current prices at the power exchange, price and weather forecasts, and grid information of the system operators.

Proliferating demand for renewable energy in power generation sector coupled with changes in dynamics of power grids from centralized to distributed is expected to drive market growth. In addition, VPP is more efficient and flexible to deliver the peak load electricity in a short notice period compared to conventional power plant set up that will further drive market growth. However, high-frequency human exposure of electromagnetic and radio waves leads to health concerns, which may hamper market growth.

Based on technology demand response emerged as the leading segment in virtual power plant market. This is attributed to the grid modernization with virtual power plant leading to increase in demand response. Growing application of mixed asset due to increasing demand for smart devices to control customer-sited loads.

Based on end user the industrial segment accounted for 53% share of global market in 2019, and is expected to maintain its dominance during the forecast period, owing to energy efficiency of VPPs. However, residential user segment is also expected to grow with a highest CAGR, due to rise in demand for renewable energy.

Europe accounted for the highest market share in 2019, owing to the presence of large number of industry players and new government initiatives across different European countries on 100% green energy initiative. Asia-Pacific possesses highest growth in the global virtual power plant market, owing to rise in energy demand in countries such as China and India with rapid industrialization.

The key players operating in the virtual power plant market share adopted product launch and business expansion to sustain the intense market competition. The key players profiled in the report include ABB Ltd., AGL Energy, AutoGrid Systems, Inc., Enbala Power Networks, Enel X Inc., General Electric Company, Siemens AG, Schneider Electric SE, Limejump Ltd., and others.

Key Findings of the Study:

China is projected to grow at the highest CAGR of approximately 30.3%, in terms of revenue, during the forecast period.
By technology, the mixed asset segment is anticipated to grow with a CAGR 23.1%, in terms of revenue, during the forecast period.
The rest of the Europe region dominated the market with highest revenue shares in 2019
Note: Product cover images may vary from those shown
  • ABB Ltd.
  • AGL Energy
  • AutoGrid Systems Inc.
  • Enbala Power Networks
  • Enel X Inc.
  • General Electric Company
  • Siemens AG
  • Schneider Electric SE
  • Limejump Ltd.
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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