DUBLIN, Oct. 17, 2023 /PRNewswire/ — The “Virtual Power Plants – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Virtual Power Plants Market to Reach $3.7 Billion by 2030
The global market for Virtual Power Plants estimated at US$556.1 Million in the year 2022, is projected to reach a revised size of US$3.7 Billion by 2030, growing at a CAGR of 26.5% over the analysis period 2022-2030.
Demand Response, one of the segments analyzed in the report, is projected to record 26.2% CAGR and reach US$2.8 Billion by the end of the analysis period. Growth in the Distributed Generation segment is estimated at 24.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $323.5 Million, While China is Forecast to Grow at 33.7% CAGR
The Virtual Power Plants market in the U.S. is estimated at US$323.5 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$231.2 Million by the year 2030 trailing a CAGR of 33.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.1% and 25.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 26.4% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET OVERVIEW
- Virtual Power Plants – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Growing Investments in Energy Infrastructure: The Cornerstone for Growth in the Market
- Growing Investments in Energy Infrastructure Provides a Launch Pad for the Rise & Proliferation of VPPs: Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
- How the Energy Industry is Impacted by the Pandemic & What’s the New Normal?
- Global Energy Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- Global Utilities Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- Beyond the Current Challenges, the Pandemic Will Fuel Our Energy Transition
- Global Clean Technologies Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- Virtual Power Plants (VPPs): Meaning, Importance, Functioning & Benefits
- Recent Market Activity
- Innovations
MARKET TRENDS & DRIVERS
- Distributed Energy Generation: A Key Energy Transformation Goal & Foundation for the Rise of the Concept of Virtual Power Plants (VPPs)
- Role of Virtual Power Plants (VPP) in a Decentralized Power Grid
- Growing Value of Demand Response (DR) Throws the Focus on VPPs as an Effective Tool to Achieve DR Goals
- Rise of Smart Cities & Smart Grids Bodes Well for Increased Investments in VPPs
- Smart Cities Get a COVID-19 Boost
- Focus on Reshaping City Resilience to Future Pandemics & Crisis Will Spur Rejuvenated Spending on Smart City Projects in the Post COVID-19 Period, Providing a Goldmine of Opportunities for VPPs: Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
- Smart Grid: A Critical Part of Energy Infrastructure in Smart Cities & a Strong Business Case for VPPs
- Global Smart Grid Market Opportunity (In US$ Billion) for Years 2021, 2023 & 2024
- Growing Digitalization of Energy to Further Spur the Rise of VPPs
- COVID-19 Fast-Forwards Digital Revolution Across Industries
- Over 60% of Companies in North America, Europe & Asia Expect to Witness Higher Velocity of Change in Digital Transformation During the Years 2020 through 2023: Global Digital Transformation Growth (In %)
- Special Focus on Energy Digitalization
- Global Opportunities for Digital Technologies in the Energy Industry by Segment (In US$ Billion)
- IoT Makes Electricity Generation Efficient, Affordable and Sustainable: Global IoT in Energy Market (In US$ Billion) for the Years 2019, 2021, 2023, 2025 & 2026
- Optimal Management of Renewable Energy Sources Throws the Spotlight on VPPs
- Rise of Renewables Throws the Spotlight on VPPs: Global Projected Net Capacity Additions of Renewable Energy (In GW) for the Period 2019 to 2024
- Growing Share of Renewables Against the Backdrop of the Focus on Decarbonization of Human Civilization to Open New Opportunities for VPPs: World Energy Production (In Billion Kilowatt Hours) by Energy Source for the Years 2020, 2030 and 2040
- Concept of Blockchain-Based Decentralized Virtual Power Plants Gains Momentum & Preeminence
- Global Market for Blockchain Technology in the Energy Sector (In US$ Billion) for Years 2020, 2022, 2024 & 2026
- Rise in Energy Trading to Benefit Market Growth
FOCUS ON SELECT PLAYERS (Total 40 Featured)
- IBM Corporation
- Siemens AG
- General Electric Company
- Schneider Electric SE
- Open Access Technology International, Inc.
- Enel X North America, Inc.
- ENBALA Power Networks, Inc.
- EnBW Energie Baden-Wuerttemberg AG
- Advanced Microgrid Solutions (AMS)
- Blue Pillar, Inc.
- Power Analytics Corporation
- AGL Energy Ltd.
- Energy Pool Developpement SAS
- Power Technology Engineered Solutions
- Equiwatt
For more information about this report visit https://www.researchandmarkets.com/r/2ursl2
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SOURCE Research and Markets
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