Print Posted By on 07/02/2024

Virtual Power Plant Market Size, Key Factors, Major Players, Growth Strategies, Trends, Forecast

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 offers insightful information about the market dynamics of the Virtual Power Plant market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Virtual Power Plant market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Virtual Power Plant market. It puts examines drivers and restraints of the Virtual Power Plant market and analyzes their impact on the industry throughout the forecast period.

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Key Players operating in the industry are:

ABB, AutoGrid Systems, Inc., Blue Pillar, Cisco Systems, Inc., Cpower Energy Management, Enel X, General Electric, Hitachi, Ltd., IBM, Next Kraftwerke

Radical Features of the Virtual Power Plant Market Report:

The report encompasses Virtual Power Plant market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
Supply chain analysis along with technological advancements offered in the report
The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Virtual Power Plant industry

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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
Regional Outlook (Revenue, USD Million; 2021–2028)
- North America
  1. U.S.
  2. Canada
- Europe
  1. Germany
  2. U.K.
  3. France
  4. BENELUX
  5. Rest of Europe
- Asia Pacific
  1. China
  2. Japan
  3. South Korea
  4. Rest of APAC
- Latin America
  1. Brazil
  2. Rest of LATAM
- Middle East & Africa
  1. Saudi Arabia
  2. UAE
  3. Rest of MEA

Regional Analysis Covers:

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)

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