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Virtual Power Plant Market Report and Growth Analysis 2022 by Technology (Distribution Generation, Demand Response, and Mixed Asset), by End-User (Commercial, Industrial and Residential) and by Region – Global Forecast to 2030
The global Virtual Power Plant Market’s total revenue is expected to reach $ 709.2 million by 2027. By 2027, the market is expected to witness a CAGR of around 29.68 %, contributing to its outstanding performance.
A virtual power plant (VPP) is a network of decentralized power generating units, storage systems and flexible power owners. It encompasses distributed energy storage systems that operate using digital technologies. These innovative solutions are of high value for customers since they get better visibility in data centers in real-time. The surge in demand for managed security services among businesses from diverse industries and sectors has contributed to market growth. The virtual power plant solution is related to diverse concepts, such as microgrids, smart grids, etc., that integrate advanced energy storage elements.
Key Players
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More companies are shifting towards the virtual power plant concept in the contemporary business landscape. As the remote work model is gaining popularity, businesses are preferring for VPP so that they can function smoothly and optimize their productivity. The potential of the global Virtual Power Plant Market is high, and the expansion of cloud computing technology is likely to drive the market growth during the forecasted period.
Market Segments
The global Virtual Power Plant Market can be segmented based on technology and end-user application.
The Virtual Power Plant Market can be further categorized based on technology into the distributed generation, demand response and mixed asset. The demand response will dominate the market at the global level during the forecasted period due to factors like peak load management and the possibility of earning incentives by taking part in demand response initiatives. The market segment’s solid performance will influence the future growth trajectory of the market. Based on end-user, the market can be subdivided into residential, commercial and industrial.
Report Scope:
|
Report Metrics |
Details |
|
Market Size |
USD 709.2 million 2027 |
|
CAGR |
29.68% CAGR 2027 |
|
Base Year |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Data |
2019 & 2020 |
|
Forecast Units |
Value (USD Million) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Key Market Opportunities |
Growing government mandates and initiatives for customer engagement, and incentives programs |
|
Key Market Drivers |
Growing demand for power through a reliable power source |
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Regional Analysis
The global Virtual Power Plant Market can be divided into several regional segments, including Europe, Asia Pacific, North America, and the Rest of the World. The market is expected to perform well at a global level. In the Asia Pacific region, nations like China, Japan and India will play a key role in impacting their positive performance during the forecasted period. Similarly, European nations are also expected to play an instrumental role and help the region reach new heights. The rapid advancement of technology will serve as a catalyst and shape the market’s future course. The presence of major market players can give the geographical segments a competitive edge.
Industry News
September 2022 – The virtual power plant of Tesla is rocketing up and leaving its competitors behind. After launching Tesla Powerwalls, the company launched the first official VPP through the Tesla app in June. The new version of its virtual power plant compensates the owners $ 2 per kWh, which they can contribute to the grid during emergency and sudden load reduction occurrences. It is expected that homeowners will receive $ 10 and $ 60 per occurrence. In the last few weeks, Tesla VPP has reached 50 MW which is an amazing feat.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Virtual Power Plant Market, By Technology
5.1 Introduction
5.2 Engine Oil
5.2.1 Market Estimates & Forecast, 2020-2027
5.2.2 Market Estimates & Forecast By Region, 2020-2027
5.3 Demand Response
…Continued.
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About:
Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.
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