Global Virtual Power Plant Market 2024-2028

The virtual power plant market is forecasted to grow by USD 6554.86 mn during 2023-2028, accelerating at a CAGR of 25.75% during the forecast period. The report on the virtual power plant market provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by an increase in the integration of renewable energy sources, enhancing grid flexibility by aggregating and controlling distributed energy resources (DERs), and a growing shift toward distributed generation.

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	24.69%
CAGR	25.75%
Incremental Value	$6554.86mn

Technavio's virtual power plant market is segmented as below:

By Technology

Demand response
Distributed generation
Mixed asset

By End-user

Industrial
Commercial
Residential

By Geographical Landscape

North America
Europe
APAC
South America
Middle East and Africa

This study identifies the increased use of artificial intelligence (AI), machine learning, and advanced data analytics as one of the prime reasons driving the virtual power plant market growth during the next few years. Also, a rise in the integration of EVS as flexible assets and an increase in participation and investments in energy markets will lead to sizable demand in the market.

The report on the virtual power plant market covers the following areas:

Virtual power plant market sizing
Virtual power plant market forecast
Virtual power plant market industry analysis

The robust vendor analysis is designed to help clients improve their market position. In line with this, this report provides a detailed analysis of several leading virtual power plant market vendors that include ABB Ltd., Alarm.com Holdings Inc., Duke Energy Corp., ENGIE SA, Generac Holdings Inc., HubSpot Inc., Kyocera Corp., Orsted AS, RWE AG, Schneider Electric SE, Siemens AG, SolarHub, Sunrun Inc., Sunverge Energy Inc., and Tesla Inc.. Also, the virtual power plant market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape and an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR77277

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Technology
Exhibit 06: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global virtual power plant market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global virtual power plant market 2018 - 2022 ($ million)
4.2 Technology Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Technology Segment 2018 - 2022 ($ million)
4.3 End-user Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - End-user Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Technology

6.1 Market segments
Exhibit 30: Chart on Technology - Market share 2023-2028 (%)
Exhibit 31: Data Table on Technology - Market share 2023-2028 (%)
6.2 Comparison by Technology
Exhibit 32: Chart on Comparison by Technology
Exhibit 33: Data Table on Comparison by Technology
6.3 Demand response - Market size and forecast 2023-2028
Exhibit 34: Chart on Demand response - Market size and forecast 2023-2028 ($ million)
Exhibit 35: Data Table on Demand response - Market size and forecast 2023-2028 ($ million)
Exhibit 36: Chart on Demand response - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Demand response - Year-over-year growth 2023-2028 (%)
6.4 Distributed generation - Market size and forecast 2023-2028
Exhibit 38: Chart on Distributed generation - Market size and forecast 2023-2028 ($ million)
Exhibit 39: Data Table on Distributed generation - Market size and forecast 2023-2028 ($ million)
Exhibit 40: Chart on Distributed generation - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Distributed generation - Year-over-year growth 2023-2028 (%)
6.5 Mixed asset - Market size and forecast 2023-2028
Exhibit 42: Chart on Mixed asset - Market size and forecast 2023-2028 ($ million)
Exhibit 43: Data Table on Mixed asset - Market size and forecast 2023-2028 ($ million)
Exhibit 44: Chart on Mixed asset - Year-over-year growth 2023-2028 (%)
Exhibit 45: Data Table on Mixed asset - Year-over-year growth 2023-2028 (%)
6.6 Market opportunity by Technology
Exhibit 46: Market opportunity by Technology ($ million)
Exhibit 47: Data Table on Market opportunity by Technology ($ million)

7 Market Segmentation by End-user

7.1 Market segments
Exhibit 48: Chart on End-user - Market share 2023-2028 (%)
Exhibit 49: Data Table on End-user - Market share 2023-2028 (%)
7.2 Comparison by End-user
Exhibit 50: Chart on Comparison by End-user
Exhibit 51: Data Table on Comparison by End-user
7.3 Industrial - Market size and forecast 2023-2028
Exhibit 52: Chart on Industrial - Market size and forecast 2023-2028 ($ million)
Exhibit 53: Data Table on Industrial - Market size and forecast 2023-2028 ($ million)
Exhibit 54: Chart on Industrial - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Industrial - Year-over-year growth 2023-2028 (%)
7.4 Commercial - Market size and forecast 2023-2028
Exhibit 56: Chart on Commercial - Market size and forecast 2023-2028 ($ million)
Exhibit 57: Data Table on Commercial - Market size and forecast 2023-2028 ($ million)
Exhibit 58: Chart on Commercial - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Commercial - Year-over-year growth 2023-2028 (%)
7.5 Residential - Market size and forecast 2023-2028
Exhibit 60: Chart on Residential - Market size and forecast 2023-2028 ($ million)
Exhibit 61: Data Table on Residential - Market size and forecast 2023-2028 ($ million)
Exhibit 62: Chart on Residential - Year-over-year growth 2023-2028 (%)
Exhibit 63: Data Table on Residential - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by End-user
Exhibit 64: Market opportunity by End-user ($ million)
Exhibit 65: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 67: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 68: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 69: Chart on Geographic comparison
Exhibit 70: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
Exhibit 75: Chart on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 76: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 77: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 APAC - Market size and forecast 2023-2028
Exhibit 79: Chart on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 80: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 81: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 83: Chart on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 84: Data Table on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 85: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 91: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibit 92: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibit 93: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 Germany - Market size and forecast 2023-2028
Exhibit 95: Chart on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 96: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 97: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.10 China - Market size and forecast 2023-2028
Exhibit 99: Chart on China - Market size and forecast 2023-2028 ($ million)
Exhibit 100: Data Table on China - Market size and forecast 2023-2028 ($ million)
Exhibit 101: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on China - Year-over-year growth 2023-2028 (%)
9.11 UK - Market size and forecast 2023-2028
Exhibit 103: Chart on UK - Market size and forecast 2023-2028 ($ million)
Exhibit 104: Data Table on UK - Market size and forecast 2023-2028 ($ million)
Exhibit 105: Chart on UK - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on UK - Year-over-year growth 2023-2028 (%)
9.12 India - Market size and forecast 2023-2028
Exhibit 107: Chart on India - Market size and forecast 2023-2028 ($ million)
Exhibit 108: Data Table on India - Market size and forecast 2023-2028 ($ million)
Exhibit 109: Chart on India - Year-over-year growth 2023-2028 (%)
Exhibit 110: Data Table on India - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 111: Market opportunity By Geographical Landscape ($ million)
Exhibit 112: Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 113: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 115: Overview on factors of disruption
11.4 Industry risks
Exhibit 116: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 117: Vendors covered
12.2 Market positioning of vendors
Exhibit 118: Matrix on vendor position and classification
12.3 ABB Ltd.
Exhibit 119: ABB Ltd. - Overview
Exhibit 120: ABB Ltd. - Business segments
Exhibit 121: ABB Ltd. - Key offerings
Exhibit 122: ABB Ltd. - Segment focus
12.4 Alarm.com Holdings Inc.
Exhibit 123: Alarm.com Holdings Inc. - Overview
Exhibit 124: Alarm.com Holdings Inc. - Business segments
Exhibit 125: Alarm.com Holdings Inc. - Key offerings
Exhibit 126: Alarm.com Holdings Inc. - Segment focus
12.5 Duke Energy Corp.
Exhibit 127: Duke Energy Corp. - Overview
Exhibit 128: Duke Energy Corp. - Business segments
Exhibit 129: Duke Energy Corp. - Key news
Exhibit 130: Duke Energy Corp. - Key offerings
Exhibit 131: Duke Energy Corp. - Segment focus
12.6 ENGIE SA
Exhibit 132: ENGIE SA - Overview
Exhibit 133: ENGIE SA - Business segments
Exhibit 134: ENGIE SA - Key offerings
Exhibit 135: ENGIE SA - Segment focus
12.7 Generac Holdings Inc.
Exhibit 136: Generac Holdings Inc. - Overview
Exhibit 137: Generac Holdings Inc. - Business segments
Exhibit 138: Generac Holdings Inc. - Key news
Exhibit 139: Generac Holdings Inc. - Key offerings
Exhibit 140: Generac Holdings Inc. - Segment focus
12.8 HubSpot Inc.
Exhibit 141: HubSpot Inc. - Overview
Exhibit 142: HubSpot Inc. - Product / Service
Exhibit 143: HubSpot Inc. - Key news
Exhibit 144: HubSpot Inc. - Key offerings
12.9 Kyocera Corp.
Exhibit 145: Kyocera Corp. - Overview
Exhibit 146: Kyocera Corp. - Business segments
Exhibit 147: Kyocera Corp. - Key offerings
Exhibit 148: Kyocera Corp. - Segment focus
12.10 Orsted AS
Exhibit 149: Orsted AS - Overview
Exhibit 150: Orsted AS - Product / Service
Exhibit 151: Orsted AS - Key news
Exhibit 152: Orsted AS - Key offerings
12.11 RWE AG
Exhibit 153: RWE AG - Overview
Exhibit 154: RWE AG - Business segments
Exhibit 155: RWE AG - Key news
Exhibit 156: RWE AG - Key offerings
Exhibit 157: RWE AG - Segment focus
12.12 Schneider Electric SE
Exhibit 158: Schneider Electric SE - Overview
Exhibit 159: Schneider Electric SE - Business segments
Exhibit 160: Schneider Electric SE - Key news
Exhibit 161: Schneider Electric SE - Key offerings
Exhibit 162: Schneider Electric SE - Segment focus
12.13 Siemens AG
Exhibit 163: Siemens AG - Overview
Exhibit 164: Siemens AG - Business segments
Exhibit 165: Siemens AG - Key news
Exhibit 166: Siemens AG - Key offerings
Exhibit 167: Siemens AG - Segment focus
12.14 SolarHub
Exhibit 168: SolarHub - Overview
Exhibit 169: SolarHub - Product / Service
Exhibit 170: SolarHub - Key offerings
12.15 Sunrun Inc.
Exhibit 171: Sunrun Inc. - Overview
Exhibit 172: Sunrun Inc. - Product / Service
Exhibit 173: Sunrun Inc. - Key offerings
12.16 Sunverge Energy Inc.
Exhibit 174: Sunverge Energy Inc. - Overview
Exhibit 175: Sunverge Energy Inc. - Key offerings
12.17 Tesla Inc.
Exhibit 176: Tesla Inc. - Overview
Exhibit 177: Tesla Inc. - Business segments
Exhibit 178: Tesla Inc. - Key news
Exhibit 179: Tesla Inc. - Key offerings
Exhibit 180: Tesla Inc. - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 181: Inclusions checklist
Exhibit 182: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 183: Currency conversion rates for US$
13.4 Research methodology
Exhibit 184: Research methodology
Exhibit 185: Validation techniques employed for market sizing
Exhibit 186: Information sources
13.5 List of abbreviations
Exhibit 187: List of abbreviations