Virtual Power Plant (VPP) denotes a cluster of small-scale generators, such as power (CHP) units and combined heat, backup generator sets, and biogas plants, which individually act as a single large power plant. The purpose of the virtual power plant is to integrate renewable energy units into present systems. It provides flexibility coming from all connected groups. Moreover, a virtual power plant contains power traders that can utilize live data to advance forecasting and trading of renewable energies - the dispersed nature of the energy resources grades in lower cost, less financial and political risk. The dependency of the distributed system is improved by the virtual power plant.
MARKET DYNAMICS
Alterations in dynamics of power grids from centralized to distributed, increase in demand for renewable energy in the power generation sector, and easy accessibility and moderating costs of energy storage are some of the factors driving the growth of the virtual power plant market. Health safety worries regarding EMF (electromagnetic frequency) and RF (radio frequency) exposure, Cybersecurity issues associated with the energy sector are some of the factors restraining the growth of the virtual power plant market. Moreover, the virtual power plant market size is increased by lowering the costs for solar and energy storage and a rising share of renewable energy in the power generation mix.
MARKET SCOPE
The "Global Virtual Power Plant Market Analysis to 2028" is a specialized and in-depth study of the Virtual power plant market with a special focus on the global market trend analysis. The report aims to provide an overview of Virtual power plant market with detailed market segmentation by technology, end user. The global Virtual power plant market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Virtual power plant market players and offers key trends and opportunities in the Virtual power plant market.
MARKET SEGMENTATION
The global Virtual power plant market is segmented on the basis of technology, end user. On the basis of technology, the market is segmented as demand response, distribution generation, mixed asset. On the basis of end-user, the market is segmented as commercial, industrial, residential.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Virtual power plant market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Virtual power plant market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Virtual power plant market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Virtual power plant market in these regions.
MARKET PLAYERS
The reports cover key developments in the Virtual power plant market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Virtual power plant market are anticipated to lucrative growth opportunities in the future with the rising demand for Virtual power plant market. Below mentioned is the list of few companies engaged in the Virtual power plant market.
The report also includes the profiles of key Virtual power plant market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ABB, Ltd.
- Autogrid Systems, Inc.
- Blue Pillar
- Cisco Systems, Inc.
- Comverge
- Cpower Energy Management
- Enbala Power Networks, Inc.
- Enernoc, Inc
- Flexitricity Limited
- Hitachi, Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.