Product Code: PM2298
The global virtual power plant market size is expected to reach USD 4,471.30 Million by 2030, according to a new study by Polaris Market Research. The report "Virtual Power Plant Market Share, Size, Trends, Industry Analysis Report, By Technology (Demand Response, Distributed Generation, Mixed Asset); By Source (Solar, Wind, Small Hydro, Batteries, Others); By End-Use (Industrial, Commercial, Residential); By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The major factors that boost the industry growth include its benefits for energy generation, expansion of smart grids, and growing demand for renewable energy. Virtual energy plants are used to maximize energy generation from existing sources, incorporate multiple renewable energy sources, and, as a result, reduce carbon emissions.
Any expansion of the smart grid would directly impact the virtual energy plant business. Furthermore, factors such as a growing share of renewable energy in the energy generation mix and falling solar generation and energy storage prices are expected to increase the virtual power plant business.
Based on the technology, the demand response segment accounted for the leading share in the industry in 2021. Due to increased expenditures in demand-response systems, the demand response category is expected to hold the most significant market share. Its popularity is fast growing due to its long-term benefits for end-users and capacity to improve the grid's energy efficiency. It also offers perks like peak load control and the chance to earn prizes by engaging in demand response programs.
Market players such as International Business Machines Corporation, General Electric, AGL Energy, ABB, Schneider Electric, Siemens. AutoGrid, Blue Pillar, Inc., Enbala Power Networks, Inc., Next Kraftwerke., Enel X, Cisco Systems, Inc., Hitachi, Ltd., Robert Bosch GmbH are key players operating in the global market.
In November 2021, SunPower Corp., a leading solar technology and energy services company, has announced the opening of its Virtual Power Plant (VPP) solution, which allows SunVaultTM energy storage consumers to be compensated for allowing the versatility to use stored energy throughout peak demand, resulting in a more stable electric grid in their community. Thus, these strategies adopted by the major players are boosting market growth.
Polaris Market Research has segmented the virtual power plant market report based on technology, source, end-user, and region:
Virtual Power Plant, Technology Outlook (Revenue - USD Million, 2018 - 2030)
Demand Response
Distributed Generation
Mixed Asset
Virtual Power Plant, Source Outlook (Revenue - USD Million, 2018 - 2030)
Solar
Wind
Small Hydro
Batteries
Others
Virtual Power Plant, End-User Outlook (Revenue - USD Million, 2018 - 2030)
Industrial
Commercial
Residential
Virtual Power Plant, Regional Outlook (Revenue - USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Netherlands
Spain
Austria
Asia Pacific
China
India
Japan
Malaysia
South Korea
Indonesia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Virtual Power Plant Market Insights
- 4.1. Virtual Power Plant - Industry Snapshot
- 4.2. Virtual Power Plant Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing share of renewable energy in the power generation mix
- 4.2.1.2. Shift from centralized to distributed generation
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Health safety concerns regarding electromagnetic frequency (EMF) & radio frequency (RF) exposure
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Virtual Power Plant Market Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Virtual Power Plant Market, by Technology
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 5.3. Demand Response
- 5.3.1. Global Virtual Power Plant Market, by Demand Response, by Region, 2018 - 2030 (USD Million)
- 5.4. Distributed Generation
- 5.4.1. Global Virtual Power Plant Market, by Distributed Generation, by Region, 2018 - 2030 (USD Million)
- 5.5. Mixed Asset
- 5.5.1. Global Virtual Power Plant Market, by Mixed Asset, by Region, 2018 - 2030 (USD Million)
6. Global Virtual Power Plant Market, by Source
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 6.3. Solar
- 6.3.1. Global Virtual Power Plant Market, by Solar, by Region, 2018 - 2030 (USD Million)
- 6.4. Wind
- 6.4.1. Global Virtual Power Plant Market, by Wind, by Region, 2018 - 2030 (USD Million)
- 6.5. Small Hydro
- 6.5.1. Global Virtual Power Plant Market, by Small Hydro, by Region, 2018 - 2030 (USD Million)
- 6.6. Batteries
- 6.6.1. Global Virtual Power Plant Market, by Batteries, by Region, 2018 - 2030 (USD Million)
- 6.7. Others
- 6.7.1. Global Virtual Power Plant Market, by Others, by Region, 2018 - 2030 (USD Million)
7. Global Virtual Power Plant Market, by End-User
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 7.3. Industrial
- 7.3.1. Global Virtual Power Plant Market, by Industrial, by Region, 2018 - 2030 (USD Million)
- 7.4. Commercial
- 7.4.1. Global Virtual Power Plant Market, by Commercial, by Region, 2018 - 2030 (USD Million)
- 7.5. Residential
- 7.5.1. Global Virtual Power Plant Market, by Residential, by Region, 2018 - 2030 (USD Million)
8. Global Virtual Power Plant Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Virtual Power Plant Market Assessment, By Geography, 2018 - 2030 (USD Million)
- 8.3. Virtual Power Plant Market - North America
- 8.3.1. North America: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.3.2. North America: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.3.3. North America: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.3.4. Virtual Power Plant Market - U.S.
- 8.3.4.1. U.S.: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.3.4.2. U.S.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.3.4.3. U.S.: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.3.5. Virtual Power Plant Market - Canada
- 8.3.5.1. Canada: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.3.5.2. Canada.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.3.5.3. Canada: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.4. Virtual Power Plant Market - Europe
- 8.4.1. Europe: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.4.2. Europe.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.4.3. Europe: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.4.4. Virtual Power Plant Market - UK
- 8.4.4.1. UK: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.4.4.2. UK.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.4.4.3. UK: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.4.5. Virtual Power Plant Market - France
- 8.4.5.1. France: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.4.5.2. France.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.4.5.3. France: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.4.6. Virtual Power Plant Market - Germany
- 8.4.6.1. Germany: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.4.6.2. Germany.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.4.6.3. Germany: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.4.7. Virtual Power Plant Market - Italy
- 8.4.7.1. Italy: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.4.7.2. Italy.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.4.7.3. Italy: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.4.8. Virtual Power Plant Market - Spain
- 8.4.8.1. Spain: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.4.8.2. Spain.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.4.8.3. Spain: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.4.9. Virtual Power Plant Market - Netherlands
- 8.4.9.1. Netherlands: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.4.9.2. Netherlands.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.4.9.3. Netherlands: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.4.10. Virtual Power Plant Market - Austria
- 8.4.10.1. Austria: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.4.10.2. Austria.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.4.10.3. Austria: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.5. Virtual Power Plant Market - Asia Pacific
- 8.5.1. Asia Pacific: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.5.2. Asia Pacific.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.5.3. Asia Pacific: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.5.4. Virtual Power Plant Market - China
- 8.5.4.1. China: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.5.4.2. China.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.5.4.3. China: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.5.5. Virtual Power Plant Market - India
- 8.5.5.1. India: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.5.5.2. India.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.5.5.3. India: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.5.6. Virtual Power Plant Market - Malaysia
- 8.5.6.1. Malaysia: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.5.6.2. Malaysia.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.5.6.3. Malaysia: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.5.7. Virtual Power Plant Market - Japan
- 8.5.7.1. Japan: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.5.7.2. Japan.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.5.7.3. Japan: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.5.8. Virtual Power Plant Market - Indonesia
- 8.5.8.1. Indonesia: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.5.8.2. Indonesia.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.5.8.3. Indonesia: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.5.9. Virtual Power Plant Market - South Korea
- 8.5.9.1. South Korea: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.5.9.2. South Korea.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.5.9.3. South Korea: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.6. Virtual Power Plant Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.6.2. Middle East & Africa.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.6.3. Middle East & Africa: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.6.4. Virtual Power Plant Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.6.4.2. Saudi Arabia.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.6.4.3. Saudi Arabia: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.6.5. Virtual Power Plant Market - UAE
- 8.6.5.1. UAE: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.6.5.2. UAE.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.6.5.3. UAE: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.6.6. Virtual Power Plant Market - Israel
- 8.6.6.1. Israel: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.6.6.2. Israel.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.6.6.3. Israel: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.6.7. Virtual Power Plant Market - South Africa
- 8.6.7.1. South Africa: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.6.7.2. South Africa.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.6.7.3. South Africa: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.7. Virtual Power Plant Market - Latin America
- 8.7.1. Latin America: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.7.2. Latin America.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.7.3. Latin America: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.7.4. Virtual Power Plant Market - Mexico
- 8.7.4.1. Mexico: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.7.4.2. Mexico.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.7.4.3. Mexico: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.7.5. Virtual Power Plant Market - Brazil
- 8.7.5.1. Brazil: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.7.5.2. Brazil.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.7.5.3. Brazil: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
- 8.7.6. Virtual Power Plant Market - Argentina
- 8.7.6.1. Argentina: Virtual Power Plant Market, by Technology, 2018 - 2030 (USD Million)
- 8.7.6.2. Argentina.: Virtual Power Plant Market, by End-User, 2018 - 2030 (USD Million)
- 8.7.6.3. Argentina: Virtual Power Plant Market, by Source, 2018 - 2030 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. ABB, Ltd.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. AGL Energy
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. AutoGrid
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Autogrid Systems, Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Blue Pillar, Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Cisco Systems, Inc.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Comverge
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Cpower Energy Management
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Enbala Power Networks, Inc.
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Enel X
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Enernoc, Inc.
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Flexitricity Limited
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. General Electric
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. Hitachi, Ltd
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. International Business Machines Corporation
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development
- 10.16. Limejump Limited
- 10.16.1. Company Overview
- 10.16.2. Financial Performance
- 10.16.3. Product Benchmarking
- 10.16.4. Recent Development
- 10.17. Next Kraftwerke
- 10.17.1. Company Overview
- 10.17.2. Financial Performance
- 10.17.3. Product Benchmarking
- 10.17.4. Recent Development
- 10.18. Olivene, Inc.
- 10.18.1. Company Overview
- 10.18.2. Financial Performance
- 10.18.3. Product Benchmarking
- 10.18.4. Recent Development
- 10.19. Open Access Technology International, Inc.
- 10.19.1. Company Overview
- 10.19.2. Financial Performance
- 10.19.3. Product Benchmarking
- 10.19.4. Recent Development
- 10.20. Osisoft
- 10.20.1. Company Overview
- 10.20.2. Financial Performance
- 10.20.3. Product Benchmarking
- 10.20.4. Recent Development
- 10.21. Robert Bosch
- 10.21.1. Company Overview
- 10.21.2. Financial Performance
- 10.21.3. Product Benchmarking
- 10.21.4. Recent Development
- 10.22. Schneider Electric
- 10.22.1. Company Overview
- 10.22.2. Financial Performance
- 10.22.3. Product Benchmarking
- 10.22.4. Recent Development
- 10.23. Siemens
- 10.23.1. Company Overview
- 10.23.2. Financial Performance
- 10.23.3. Product Benchmarking
- 10.23.4. Recent Development