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Virtual Power Plant Market Size, Share & Trends Analysis Report By Technology (Distributed Energy Resource, Demand Response, Mixed Asset), By End Use (Industrial, Commercial, Residential), By Region, And Segment Forecasts, 2024 - 2030

July 2024 | 130 pages | ID: V3D3710F8EEAEN
Grand View Research, Inc.

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Virtual Power Plant Market Growth & Trends

The global virtual power plant market size is anticipated t%li%reach USD 16.65 billion by 2030 and is anticipated t%li%expand at a CAGR of 22.2% from 2024 t%li%2030, according t%li%a new report by Grand View Research. Virtual power plants (VPPs) can play a significant role in reducing carbon emissions in the energy sector. Virtual power plants can be programmed t%li%prioritize the use of clean energy sources and minimize the use of carbon-intensive generation sources when possible, thus lowering overall emissions associated with electricity production. Through advanced control algorithms and real-time monitoring, virtual power plants can optimize energy production and consumption, reducing energy waste and associated emissions.

Virtual power plants offer several benefits t%li%customers, both residential and commercial, by providing them with greater control over their energy consumption and cost savings. Customers can reduce their energy bills by participating in virtual power plant programs. Virtual power plant enables customers t%li%take advantage of time-of-use pricing and demand response opportunities, allowing them t%li%shift energy consumption t%li%lower-cost periods and avoid peak-demand charges. Virtual power plants often come with advanced energy management tools and applications that allow customers t%li%monitor and control their energy usage in real-time.

Stringent government regulations can play a significant role in driving the use of virtual power plants. Regulations aimed at reducing greenhouse gas emissions often incentivize adopting clean energy technologies. Virtual power plants, by enabling the integration of renewables and demand response, contribute t%li%reducing carbon emissions in the energy sector, aligning with government emission reduction goals. Governments often invest in grid modernization efforts t%li%improve the overall efficiency and intelligence of the power grid.

Virtual Power Plant Market Report Highlights
  • In terms of technology, the demand response segment dominated the market in 2023. The demand response segment aligns with the broader sustainability goals, making it a critical driver of the VPP market's growth as the world increasingly transitions towards greener and more responsive energy systems
    • In terms of end use, the industrial segment dominated the market in 2023. The growth of the segment can be attributed t%li%its substantial energy demands, complex energy management needs, and the potential for significant cost savings and carbon footprint reduction through VPP adoption
      • North America dominated the regional market in 2023. The growing awareness of the benefits of renewable power is leading t%li%a rise in demand for renewables such as wind, solar, and hydropower in North America. Furthermore, supportive government initiatives in the region are promoting the development of renewable energy sources, which is expected t%li%drive the demand for virtual power plants, thus driving the growth of the regional market
    • In June 2023, SolarEdge Technologies, Inc., a smart energy technology leader, unveiled its 1st battery virtual power plant that provides grid support through the U.K.'s National Grid ESO Demand Flexibility Service (DFS). This service can be leveraged for SolarEdge home battery owners with eligible smart meters across the U.K. and provides them financial incentives t%li%utilize their stored battery energy during DFS demand events
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
  1.3.1. Information Procurement
  1.3.2. Information or Data Analysis
  1.3.3. Market Formulation & Data Visualization
  1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
  1.4.1. List of Data Sources

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

CHAPTER 3. VIRTUAL POWER PLANT MARKET VARIABLES, TRENDS, & SCOPE

3.1. Market Introduction/Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
  3.3.1. Market Drivers Analysis
    3.3.1.1. Expansion of renewable energy capacity
    3.3.1.2. Growing deployment of smart grids
  3.3.2. Industry Opportunities
    3.3.2.1. Increasing adoption of Electric Vehicles (EVs)
  3.3.3. Industry Challenges
    3.3.3.1. Technology, data security and privacy, and business challenges
3.4. Virtual Power Plant Market Analysis Tools
  3.4.1. Porter’s Analysis
    3.4.1.1. Bargaining power of the suppliers
    3.4.1.2. Bargaining power of the buyers
    3.4.1.3. Threats of substitution
    3.4.1.4. Threats from new entrants
    3.4.1.5. Competitive rivalry
  3.4.2. PESTEL Analysis
    3.4.2.1. Political landscape
    3.4.2.2. Economic and Social landscape
    3.4.2.3. Technological landscape
    3.4.2.4. Environmental landscape
    3.4.2.5. Legal landscape

CHAPTER 4. VIRTUAL POWER PLANT MARKET: TECHNOLOGY ESTIMATES & TREND ANALYSIS

4.1. Segment Dashboard
4.2. Virtual Power Plant Market: Technology Movement Analysis, 2023 & 2030 (USD Million)
4.3. Distributed Energy Resource
  4.3.1. Distributed Energy Resource Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
4.4. Demand Response
  4.4.1. Demand Response Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
4.5. Mixed Asset
  4.5.1. Mixed Asset Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)

CHAPTER 5. VIRTUAL POWER PLANT MARKET: END USE ESTIMATES & TREND ANALYSIS

5.1. Segment Dashboard
5.2. Virtual Power Plant Market: End Use Movement Analysis, 2023 & 2030 (USD Million)
5.3. Industrial
  5.3.1. Industrial Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
5.4. Commercial
  5.4.1. Commercial Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
5.5. Residential
  5.5.1. Residential Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)

CHAPTER 6. VIRTUAL POWER PLANT MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

6.1. Virtual Power Plant Market Share, By Region, 2023 & 2030, USD Million
6.2. North America
  6.2.1. North America Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.2.2. U.S.
    6.2.2.1. U.S. Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.2.3. Canada
    6.2.3.1. Canada Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.2.4. Mexico
    6.2.4.1. Mexico Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
6.3. Europe
  6.3.1. Europe Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.3.2. UK
    6.3.2.1. UK Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.3.3. Germany
    6.3.3.1. Germany Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.3.4. France
    6.3.4.1. France Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
6.4. Asia Pacific
  6.4.1. Asia Pacific Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.4.2. China
    6.4.2.1. China Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.4.3. India
    6.4.3.1. India Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.4.4. Japan
    6.4.4.1. Japan Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.4.5. South Korea
    6.4.5.1. South Korea Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.4.6. Australia
    6.4.6.1. Australia Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
6.5. Latin America
  6.5.1. Latin America Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.5.2. Brazil
    6.5.2.1. Brazil Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
6.6. Middle East and Africa
  6.6.1. Middle East and Africa Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.6.2. Kingdom of Saudi Arabia (KSA)
    6.6.2.1. Kingdom of Saudi Arabia (KSA) Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.6.3. UAE
    6.6.3.1. UAE Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)
  6.6.4. South Africa
    6.6.4.1. South Africa Virtual Power Plant Market Estimates and Forecasts, 2017 - 2030 (USD Million)

CHAPTER 7. COMPETITIVE LANDSCAPE

7.1. Recent Developments & Impact Analysis by Key Market Participants
7.2. Company Categorization
7.3. Company Market Positioning
7.4. Company Market Share Analysis
7.5. Company Heat Map Analysis
7.6. Strategy Mapping
  7.6.1. Expansion
  7.6.2. Mergers & Acquisition
  7.6.3. Partnerships & Collaborations
  7.6.4. New Product Launches
  7.6.5. Research And Development
7.7. Company Profiles
  7.7.1. Siemens
    7.7.1.1. Participant’s Overview
    7.7.1.2. Financial Performance
    7.7.1.3. Product Benchmarking
    7.7.1.4. Recent Developments
  7.7.2. TOSHIBA CORPORATION
    7.7.2.1. Participant’s Overview
    7.7.2.2. Financial Performance
    7.7.2.3. Product Benchmarking
    7.7.2.4. Recent Developments
  7.7.3. Next Kraftwerke GmbH.
    7.7.3.1. Participant’s Overview
    7.7.3.2. Financial Performance
    7.7.3.3. Product Benchmarking
    7.7.3.4. Recent Developments
  7.7.4. Hitachi, Ltd.
    7.7.4.1. Participant’s Overview
    7.7.4.2. Financial Performance
    7.7.4.3. Product Benchmarking
    7.7.4.4. Recent Developments
  7.7.5. ABB
    7.7.5.1. Participant’s Overview
    7.7.5.2. Financial Performance
    7.7.5.3. Product Benchmarking
    7.7.5.4. Recent Developments
  7.7.6. Tesla
    7.7.6.1. Participant’s Overview
    7.7.6.2. Financial Performance
    7.7.6.3. Product Benchmarking
    7.7.6.4. Recent Developments
  7.7.7. AutoGrid Systems, Inc
    7.7.7.1. Participant’s Overview
    7.7.7.2. Financial Performance
    7.7.7.3. Product Benchmarking
    7.7.7.4. Recent Developments
  7.7.8. Limejump Limited
    7.7.8.1. Participant’s Overview
    7.7.8.2. Financial Performance
    7.7.8.3. Product Benchmarking
    7.7.8.4. Recent Developments
  7.7.9. Sunverge Energy, Inc.
    7.7.9.1. Participant’s Overview
    7.7.9.2. Financial Performance
    7.7.9.3. Product Benchmarking
    7.7.9.4. Recent Developments
  7.7.10. Centrica plc
    7.7.10.1. Participant’s Overview
    7.7.10.2. Financial Performance
    7.7.10.3. Product Benchmarking
    7.7.10.4. Recent Developments
LIST OF TABLES


Table 1 Virtual power plant market, 2017 - 2030 (USD Million)
Table 2 Global market estimates and forecasts, by region, 2017 - 2030 (USD Million)
Table 3 Global market estimates and forecasts, by technology, 2017 - 2030 (USD Million)
Table 4 Global market estimates and forecasts, by end use, 2017 - 2030 (USD Million)
Table 5 Distributed Energy Resource virtual power plant market, by region, 2017 - 2030 (USD Million)
Table 6 Demand Response virtual power plant market, by region, 2017 - 2030 (USD Million)
Table 7 Mixed Asset virtual power plant market, by region, 2017 - 2030 (USD Million)
Table 8 Industrial virtual power plant market, by region, 2017 - 2030 (USD Million)
Table 9 Commercial virtual power plant market, by region, 2017 - 2030 (USD Million)
Table 10 Residential virtual power plant market, by region, 2017 - 2030 (USD Million)
Table 11 North America virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 12 North America virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 13 U.S. virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 14 U.S. virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 15 Canada virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 16 Canada virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 17 Mexico virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 18 Mexico virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 19Europe virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 20Europe virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 21 UK virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 22 UK virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 23 Germany virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 24 Germany virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 25 France virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 26 France virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 27 Asia Pacific virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 28 Asia Pacific virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 29 China virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 30 China virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 31 Japan virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 32 Japan virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 33 India virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 34 India virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 35 South Korea virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 36 South Korea virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 37 Australia virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 38 Australia virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 39 Latin America virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 40 Latin America virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 41 Brazil virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 42 Brazil virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 43 Middle East & Africa virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 44 Middle East & Africa virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 45 Kingdom of Saudi Arabia (KSA)virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 46 Kingdom of Saudi Arabia (KSA)virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 47 UAE virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 48 UAE virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 49 South Africa virtual power plant market, by end use, 2017 - 2030 (USD Million)
Table 50 South Africa virtual power plant market, by technology, 2017 - 2030 (USD Million)
Table 51 Company Market Share, 2023
Table 52 Company Heat Map Analysis
Table 53 Key Companies undergoing partnerships, collaborations, & agreements
Table 54 Key Companies launching new products
LIST OF FIGURES


Fig. 1 Market Research Process
Fig. 2 Data Triangulation Techniques
Fig. 3 Primary Research Pattern
Fig. 4 Primary Interviews in North America
Fig. 5 Primary Interviews in Europe
Fig. 6 Primary Interviews in APAC
Fig. 7 Primary Interviews in Latin America
Fig. 8 Primary Interviews in MEA
Fig. 9 Market Research Approaches
Fig. 10 Value-chain-Based Sizing & Forecasting
Fig. 11 QFD Modeling for Market Share Assessment
Fig. 12 Market Formulation & Validation
Fig. 13 PTA Balloon Catheter Market: Market Outlook
Fig. 14 PTA Balloon Catheter Competitive Insights
Fig. 15 Parent Market Outlook
Fig. 16 Related/Ancillary Market Outlook
Fig. 17 Penetration and Growth Prospect Mapping
Fig. 18 Industry Value Chain Analysis
Fig. 19 PTA Balloon Catheter Market Driver Impact
Fig. 20 PTA Balloon Catheter Market Restraint Impact
Fig. 21 PTA Balloon Catheter Market Strategic Initiatives Analysis
Fig. 22 PTA Balloon Catheter Market: Material Type Movement Analysis
Fig. 23 PTA Balloon Catheter Market: Material Type Outlook and Key Takeaways
Fig. 24 Polyurethane Market Estimates and Forecast, 2018 - 2030
Fig. 25 Nylon Market Estimates and Forecast, 2018 - 2030
Fig. 26 Others Market Estimates and Forecast, 2018 - 2030
Fig. 27 PTA Balloon Catheter Market: Application Movement Analysis
Fig. 28 PTA Balloon Catheter Market: Application Outlook and Key Takeaways
Fig. 29 Peripheral Artery Disease Market Estimates and Forecasts, 2018 - 2030
Fig. 30 Coronary Artery Disease Market Estimates and Forecasts, 2018 - 2030
Fig. 31 PTA Balloon Catheter Market: End Use Movement Analysis
Fig. 32 PTA Balloon Catheter Market: End Use Outlook and Key Takeaways
Fig. 33 Hospitals Market Estimates and Forecasts, 2018 - 2030
Fig. 34 Ambulatory surgical centers Market Estimates and Forecasts, 2018 - 2030
Fig. 35 Global PTA Balloon Catheter Market: Regional Movement Analysis
Fig. 36 Global PTA Balloon Catheter Market: Regional Outlook and Key Takeaways
Fig. 37 Global PTA Balloon Catheter Market Share and Leading Players
Fig. 38 North America Market Share and Leading Players
Fig. 39 Europe Market Share and Leading Players
Fig. 40 Asia Pacific Market Share and Leading Players
Fig. 41 Latin America Market Share and Leading Players
Fig. 42 Middle East & Africa Market Share and Leading Players
Fig. 43 North America, by Country
Fig. 44 North America Market Estimates and Forecasts, 2018 - 2030
Fig. 45 U.S. Market Estimates and Forecasts, 2018 - 2030
Fig. 46 Canada Market Estimates and Forecasts, 2018 - 2030
Fig. 47 Mexico Market Estimates and Forecasts, 2018 - 2030
Fig. 48 Europe Market Estimates and Forecasts, 2018 - 2030
Fig. 49 UK Market Estimates and Forecasts, 2018 - 2030
Fig. 50 Germany Market Estimates and Forecasts, 2018 - 2030
Fig. 51 France Market Estimates and Forecasts, 2018 - 2030
Fig. 52 Italy Market Estimates and Forecasts, 2018 - 2030
Fig. 53 Spain Market Estimates and Forecasts, 2018 - 2030
Fig. 54 Denmark Market Estimates and Forecasts, 2018 - 2030
Fig. 55 Sweden Market Estimates and Forecasts, 2018 - 2030
Fig. 56 Norway Market Estimates and Forecasts, 2018 - 2030
Fig. 57 Asia Pacific Market Estimates and Forecasts, 2018 - 2030
Fig. 58 China Market Estimates and Forecasts, 2018 - 2030
Fig. 59 Japan Market Estimates and Forecasts, 2018 - 2030
Fig. 60 India Market Estimates and Forecasts, 2018 - 2030
Fig. 61 Thailand Market Estimates and Forecasts, 2018 - 2030
Fig. 62 South Korea Market Estimates and Forecasts, 2018 - 2030
Fig. 63 Australia Market Estimates and Forecasts, 2018 - 2030
Fig. 64 Latin America Market Estimates and Forecasts, 2018 - 2030
Fig. 65 Brazil Market Estimates and Forecasts, 2018 - 2030
Fig. 66 Argentina Market Estimates and Forecasts, 2018 - 2030
Fig. 67 Middle East and Africa Market Estimates and Forecasts, 2018 - 2030
Fig. 68 South Africa Market Estimates and Forecasts, 2018 - 2030
Fig. 69 Saudi Arabia Market Estimates and Forecasts, 2018 - 2030
Fig. 70 UAE Market Estimates and Forecasts, 2018 - 2030
Fig. 71 Kuwait Market Estimates and Forecasts, 2018 - 2030
Fig. 72 Market Share of Key Market Players- PTA Balloon Catheter Market


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