Global Virtual Power Plant Market, By Component (Software v/s Service), By Technology (Demand Response, Distributed Generation, Mixed Asset), By Source (Renewables, Energy Storage, CHP, Other local generation), By End User (Residential, Commercial, Industrial (Petroleum Refining, Chemicals Industry, Metals & Mining, Others), By Region, Competition, Forecast & Opportunities, 2025

August 2020 | 132 pages | ID: GDC2D1A6A682EN
TechSci Research

Abstracts

Global virtual power plant market is forecast to witness a CAGR of 30% in the coming years and surpass $ 5.6 billion by 2025. Growth in the global virtual power plant market can be attributed to growing opportunities in renewable energy and battery storage systems, rising demand for power generation from renewable sources of energy, increase in penetration of smart grid technologies, shift from centralized to distributed generation, favorable government initiatives to mitigate power outages and increasing demand for power in key industries such as petroleum refining, chemicals, metals and mining, etc.

Global virtual power plant market can be segmented based on component, technology, source, end user and region. In terms of component, the market can be bifurcated into software and service. In 2020, software segment dominated the market, however, service segment is expected to grow at a higher rate in the coming years. Based on technology, the market can be segmented into Demand Response, Distributed Generation, and Mixed Asset. Demand response segment currently holds the largest share and is expected to hold its dominance in the virtual power plant market during the forecast period. Demand response is highly lucrative for investment due to everlasting benefits for end-users and improving the energy efficiency of the grid.

Based on source, the market can be segmented into Renewables, CHP, Energy Storage, and Other Local Generation segments. Renewable sources, including solar, wind, hydro, and bio, are widely used sources for virtual power plant as they are naturally occurring sources of energy that can be easily replenished, and plays an important role in reducing greenhouse gas emissions. The increasing share of renewables in the power generation mix will positively impact the global virtual power plant market.

In terms of end user, global virtual power plant market is segmented into residential, commercial & industrial. Industrial segment held the largest market share in 2019 and is expected to have the largest share over the forecast period as well. Industrial end-users are among the highest adopters of the virtual power plant setups and services. Regionally, North America is the largest virtual power plant market. Shift towards renewable energy sources, need for higher grid stability, and presence of major companies is driving the virtual power plant market in the region. Asia-Pacific is also expected to present lucrative opportunities in the coming years owing to the phenomenal growth in the construction industry, and government regulatory policies and initiatives towards clean energy, especially in China and India. Japan and South Korea are also among the industrialized countries in APAC region that is also expected to boost the region’s virtual power plant in the coming years.

Years considered for this report:

• Historical Years: 2015-2018
• Base Year: 2019
• Estimated Year: 2020
• Forecast Period: 2021-2025

Objective of the Study:

• To analyze and forecast the market size of global virtual power plant market.
• To classify and forecast global virtual power plant market based on component, technology, source, end user, and regional distribution.
• To identify major drivers & challenges for global virtual power plant market
• To identify major emerging trends of global virtual power plant market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global virtual power plant market.
• To identify and profile major companies operating in global virtual power plant market.

To analyze and forecast global virtual power plant market, both top down and bottom up approaches have been used. Multiple employees from several power companies have been interviewed through telephonic conversations to extract and verify the information. A brief study of the major players operating in virtual power plant market was conducted globally, which included the analysis of information such as virtual power plant operating in various countries, software used to operate virtual power plant, followed by the detailed estimated investments in the coming years in power infrastructure, government funding and expenditure for the development of renewables and various reforms and initiatives in different countries in power sector. Moreover, detailed and in-depth scrutiny of information was done to understand each policy or external or internal factor which could increase or decrease the demand for virtual power plant, globally. Various secondary sources such as company websites, annual reports, white papers, investor presentation, and news articles were also studied by TechSci Research.

Key Target Audience:

• Virtual Power Plant market players and other stakeholders
• Organizations, forums and alliances related to power industry
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms

The study is essential in delivering useful information to industry stakeholders such as providers, vendors and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.

Report Scope:

In this report, Global Virtual Power Plant Market has been segmented into the following categories in addition to the industry trends which have also been detailed below:

• Market, by Component:
• Software
• Service
• Market, by Technology:
• Demand Response
• Distributed Generation
• Mixed Asset
• Market, by Source:
• Renewables
• Energy Storage
• CHP
• Other local generation
• Market, by End User:
• Residential
• Commercial
• Industrial
• Petroleum Refining
• Chemicals Industry
• Metals & Mining
• Others
• Market, by Region:
• North America
• US
• Canada
• Europe
• Germany
• Denmark
• Italy
• UK
• Asia-Pacific
• Australia
• China
• India
• Japan
• South Korea
• South America
• Brazil
• Argentina
• Middle East & Africa
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Virtual Power Plant Market.

Voice of Customer: Major factors supporting virtual power plant, challenges faced in virtual power plant, major industries supported by virtual power plant, and brand awareness.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Channel Partner Analysis

• Detailed list of distributors across all major regions.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Contents

1. PRODUCT OVERVIEW

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. VOICE OF CUSTOMER

5. GLOBAL VIRTUAL POWER PLANT MARKET OUTLOOK

5.1. Market Size & Forecast
  5.1.1. By Value
5.2. Market Share & Forecast
  5.2.1. By Component (Software vs. Service)
  5.2.2. By Technology (Demand Response, Distributed Generation, and Mixed Asset)
  5.2.3. By Source (Renewables, Energy Storage, CHP and Other local generation)
  5.2.4. By End User (Residential, Commercial and Industrial (Petroleum Refining, Chemicals Industry, Metals & Mining and Others)
  5.2.5. By Region
  5.2.6. By Company (2019)
5.3. Product Market Map

6. NORTH AMERICA VIRTUAL POWER PLANT MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value
6.2. Market Share & Forecast
  6.2.1. By Component
  6.2.2. By Technology
  6.2.3. By Source
  6.2.4. By End User
  6.2.5. By Country
6.3. North America: Country Analysis
  6.3.1. United States Virtual Power Plant Market Outlook
    6.3.1.1. Market Size & Forecast
      6.3.1.1.1. By Value
    6.3.1.2. Market Share & Forecast
      6.3.1.2.1. By Component
      6.3.1.2.2. By Technology
      6.3.1.2.3. By Source
      6.3.1.2.4. By End User
    6.3.1.3. Policies and Regulatory Framework Supporting Renewables
  6.3.2. Canada Virtual Power Plant Market Outlook
    6.3.2.1. Market Size & Forecast
      6.3.2.1.1. By Value
    6.3.2.2. Market Share & Forecast
      6.3.2.2.1. By Component
      6.3.2.2.2. By Technology
      6.3.2.2.3. By Source
      6.3.2.2.4. By End User
    6.3.2.3. Policies and Regulatory Framework Supporting Renewables

7. EUROPE VIRTUAL POWER PLANT MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Component
  7.2.2. By Technology
  7.2.3. By Source
  7.2.4. By End User
  7.2.5. By Country
7.3. Europe: Country Analysis
  7.3.1. Germany Virtual Power Plant Market Outlook
    7.3.1.1. Market Size & Forecast
      7.3.1.1.1. By Value
    7.3.1.2. Market Share & Forecast
      7.3.1.2.1. By Component
      7.3.1.2.2. By Technology
      7.3.1.2.3. By Source
      7.3.1.2.4. By End User
    7.3.1.3. Policies and Regulatory Framework Supporting Renewables
  7.3.2. Denmark Virtual Power Plant Market Outlook
    7.3.2.1. Market Size & Forecast
      7.3.2.1.1. By Value
    7.3.2.2. Market Share & Forecast
      7.3.2.2.1. By Component
      7.3.2.2.2. By Technology
      7.3.2.2.3. By Source
      7.3.2.2.4. By End User
    7.3.2.3. Policies and Regulatory Framework Supporting Renewables
  7.3.3. Italy Virtual Power Plant Market Outlook
    7.3.3.1. Market Size & Forecast
      7.3.3.1.1. By Value
    7.3.3.2. Market Share & Forecast
      7.3.3.2.1. By Component
      7.3.3.2.2. By Technology
      7.3.3.2.3. By Source
      7.3.3.2.4. By End User
    7.3.3.3. Policies and Regulatory Framework Supporting Renewables
  7.3.4. UK Virtual Power Plant Market Outlook
    7.3.4.1. Market Size & Forecast
      7.3.4.1.1. By Value
    7.3.4.2. Market Share & Forecast
      7.3.4.2.1. By Component
      7.3.4.2.2. By Technology
      7.3.4.2.3. By Source
      7.3.4.2.4. By End User
    7.3.4.3. Policies and Regulatory Framework Supporting Renewables

8. APAC VIRTUAL POWER PLANT MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Component
  8.2.2. By Technology
  8.2.3. By Source
  8.2.4. By End User
  8.2.5. By Country
8.3. APAC: Country Analysis
  8.3.1. Australia Virtual Power Plant Market Outlook
    8.3.1.1. Market Size & Forecast
      8.3.1.1.1. By Value
    8.3.1.2. Market Share & Forecast
      8.3.1.2.1. By Component
      8.3.1.2.2. By Technology
      8.3.1.2.3. By Source
      8.3.1.2.4. By End User
    8.3.1.3. Policies and Regulatory Framework Supporting Renewables
  8.3.2. China Virtual Power Plant Market Outlook
    8.3.2.1. Market Size & Forecast
      8.3.2.1.1. By Value
    8.3.2.2. Market Share & Forecast
      8.3.2.2.1. By Component
      8.3.2.2.2. By Technology
      8.3.2.2.3. By Source
      8.3.2.2.4. By End User
    8.3.2.3. Policies and Regulatory Framework Supporting Renewables
  8.3.3. Japan Virtual Power Plant Market Outlook
    8.3.3.1. Market Size & Forecast
      8.3.3.1.1. By Value
    8.3.3.2. Market Share & Forecast
      8.3.3.2.1. By Component
      8.3.3.2.2. By Technology
      8.3.3.2.3. By Source
      8.3.3.2.4. By End User
    8.3.3.3. Policies and Regulatory Framework Supporting Renewables
  8.3.4. South Korea Virtual Power Plant Market Outlook
    8.3.4.1. Market Size & Forecast
      8.3.4.1.1. By Value
    8.3.4.2. Market Share & Forecast
      8.3.4.2.1. By Component
      8.3.4.2.2. By Technology
      8.3.4.2.3. By Source
      8.3.4.2.4. By End User
    8.3.4.3. Policies and Regulatory Framework Supporting Renewables
  8.3.5. India Virtual Power Plant Market Outlook
    8.3.5.1. Market Size & Forecast
      8.3.5.1.1. By Value
    8.3.5.2. Market Share & Forecast
      8.3.5.2.1. By Component
      8.3.5.2.2. By Technology
      8.3.5.2.3. By Source
      8.3.5.2.4. By End User
    8.3.5.3. Policies and Regulatory Framework Supporting Renewables

9. SOUTH AMERICA VIRTUAL POWER PLANT MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value
9.2. Market Share & Forecast
  9.2.1. By Component
  9.2.2. By Technology
  9.2.3. By Source
  9.2.4. By End User
  9.2.5. By Country
9.3. South America: Country Analysis
  9.3.1. Brazil Virtual Power Plant Market Outlook
    9.3.1.1. Market Size & Forecast
      9.3.1.1.1. By Value
    9.3.1.2. Market Share & Forecast
      9.3.1.2.1. By Component
      9.3.1.2.2. By Technology
      9.3.1.2.3. By Source
      9.3.1.2.4. By End User
    9.3.1.3. Policies and Regulatory Framework Supporting Renewables
  9.3.2. Argentina Virtual Power Plant Market Outlook
    9.3.2.1. Market Size & Forecast
      9.3.2.1.1. By Value
    9.3.2.2. Market Share & Forecast
      9.3.2.2.1. By Component
      9.3.2.2.2. By Technology
      9.3.2.2.3. By Source
      9.3.2.2.4. By End User
    9.3.2.3. Policies and Regulatory Framework Supporting Renewables

10. MIDDLE EAST AND AFRICA VIRTUAL POWER PLANT MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value
10.2. Market Share & Forecast
  10.2.1. By Component
  10.2.2. By Technology
  10.2.3. By Source
  10.2.4. By End User
  10.2.5. By Country
10.3. MEA: Country Analysis
  10.3.1. UAE Virtual Power Plant Market Outlook
    10.3.1.1. Market Size & Forecast
      10.3.1.1.1. By Value
    10.3.1.2. Market Share & Forecast
      10.3.1.2.1. By Component
      10.3.1.2.2. By Technology
      10.3.1.2.3. By Source
      10.3.1.2.4. By End User
    10.3.1.3. Policies and Regulatory Framework Supporting Renewables

11. MARKET DYNAMICS

11.1. Drivers
11.2. Challenges

12. MARKET TRENDS & DEVELOPMENTS

13. COMPETITIVE LANDSCAPE

13.1. ABB Limited
13.2 AGL Energy
13.3. Autogrid Systems, Inc.
13.4. Siemens AG
13.5. Schneider Electric
13.6. Enbala Power Network
13.7. Robert Bosch GmbH
13.8. General Electric
13.9 Comverge
13.10. Next Kraftwerke
13.11. Cisco Systems

14. STRATEGIC RECOMMENDATIONS

(Note: The companies list can be customized based on the client requirements.)

List Of Figures

LIST OF FIGURES

Figure 1: Global Virtual Power Plant Market Size, By Value, 2015-2025F (USD Million)
Figure 2: Global Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 3: Global Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 4: Global Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 5: Global Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 6: Global Virtual Power Plant Market Share, By Region, 2015-2025F
Figure 7: Global Virtual Power Plant Market Share, By Company, 2019
Figure 8: North America Virtual Power Plant Market Size, By Value, 2015-2025F (USD Million)
Figure 9: North America Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 10: North America Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 11: North America Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 12: North America Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 13: North America Virtual Power Plant Market Share, By Country, 2015-2025F
Figure 14: US Virtual Power Plant Market Size, By Value, 2015-2025F (USD Million)
Figure 15: US Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 16: US Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 17: US Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 18: US Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 19: Canada Virtual Power Plant Market Size, By Value, 2015-2025F (USD Million)
Figure 20: Canada Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 21: Canada Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 22: Canada Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 23: Canada Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 24: Europe Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 25: Europe Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 26: Europe Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 27: Europe Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 28: Europe Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 29: Europe Virtual Power Plant Market Share, By Country, 2015-2025F
Figure 30: Germany Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 31: Germany Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 32: Germany Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 33: Germany Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 34: Germany Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 36: Italy Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 37: Italy Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 38: Italy Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 39: Italy Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 40: Italy Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 41: Denmark Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 42: Denmark Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 43: Denmark Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 44: Denmark Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 45: UK Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 46: UK Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 47: UK Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 48: UK Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 49: UK Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 50: APAC Virtual Power Plant Market Size, By Value, 2015-2025F (USD Million)
Figure 51: APAC Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 52: APAC Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 53: APAC Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 54: APAC Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 55: APAC Virtual Power Plant Market Share, By Country, 2015-2025F
Figure 56: Australia Virtual Power Plant Market Size, By Value, 2015-2025F (USD Million)
Figure 57: Australia Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 58: Australia Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 59: Australia Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 60: Australia Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 61: China Virtual Power Plant Market Size, By Value, 2015-2025F (USD Million)
Figure 62: China Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 63: China Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 64: China Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 65: China Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 66: India Virtual Power Plant Market Size, By Value, 2015-2025F (USD Million)
Figure 67: India Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 68: India Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 69: India Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 70: India Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 71: Japan Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 72: Japan Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 73: Japan Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 74: Japan Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 75: Japan Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 76: South Korea Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 77: South Korea Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 78: South Korea Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 79: South Korea Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 80: South Korea Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 81: South America Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 82: South America Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 83: South America Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 84: South America Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 85: South America Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 86: South America Virtual Power Plant Market Share, By Country, 2015-2025F
Figure 87: Brazil Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 88: Brazil Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 89: Brazil Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 90: Brazil Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 91: Brazil Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 92: Argentina Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 93: Argentina Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 94: Argentina Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 95: Argentina Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 96: Argentina Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 98: Middle East & Africa Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 99: Middle East & Africa Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 100: Middle East & Africa Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 101: Middle East & Africa Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 102: Middle East & Africa Virtual Power Plant Market Share, By End User, 2015-2025F
Figure 103: Middle East & Africa Virtual Power Plant Market Share, By Country, 2015-2025F
Figure 104: UAE Virtual Power Plant Market Size, By Value, 2015-2025F, (USD Million)
Figure 105: UAE Virtual Power Plant Market Share, By Component, 2015-2025F
Figure 106: UAE Virtual Power Plant Market Share, By Technology, 2015-2025F
Figure 107: UAE Virtual Power Plant Market Share, By Source, 2015-2025F
Figure 108: UAE Virtual Power Plant Market Share, By End User, 2015-2025F

COMPANIES MENTIONED

1. ABB Limited
2. AGL Energy Limited
3. Autogrid Systems, Inc.
4. Siemens AG
5. Schneider Electric
6. Enbala Power Networks
7. Robert Bosch GmbH
8. General Electric Company
9. Comverge, Inc.
10. Next Kraftwerke GmbH
11. Cisco Systems, Inc.