The report is updated with the impact of the COVID-19 pandemic on the Virtual Power Plant market. Every industry vertical across the globe has been affected by the pandemic, and the report assesses if the impact of the pandemic on the Virtual Power Plant market has been positive or negative.
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.
Emergen Research has recently published a detailed report on the global Virtual Power Plant market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Virtual Power Plant market through verified and validated data curated to offer accurate insights.
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The report further divides the Virtual Power Plant market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Virtual Power Plant market.
Virtual Power Plant Market Segmentation:
-
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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The report also studies the key companies of the Virtual Power Plant market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities. Some players analyzed in the report are:
Key companies operating in the Virtual Power Plant market include:
ABB, AutoGrid Systems, Inc., Blue Pillar, Cisco Systems, Inc., Cpower Energy Management, Enel X, General Electric, Hitachi, Ltd., IBM, Next Kraftwerke
The Global Virtual Power Plant Report is a panoramic study of the overall Virtual Power Plant market published by Emergen Research and covers a wide-ranging analysis of the technological advancements and product developments in the Virtual Power Plant market. The report provides a detailed analysis of the key factors of the Virtual Power Plant market that are expected to have a positive impact on the growth of the Virtual Power Plant industry.
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Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
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Thank you for reading our report. Customization of this report is available as per the client’s requirements. Please connect with us to know more about the report, and our team will ensure you get the report tailored according to your needs.
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