PUBLISHER: KBV Research | PRODUCT CODE: 1642343
PUBLISHER: KBV Research | PRODUCT CODE: 1642343
Europe Virtual Power Plant Market Size, Share & Trends Analysis Report By Technology, By End Use (Industrial, Commercial, and Residential), By Country and Growth Forecast, 2024 - 2031
The Europe Virtual Power Plant Market would witness market growth of 21.4% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Virtual Power Plant Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,204.8 million by 2031. The UK market is exhibiting a CAGR of 20.4% during (2024 - 2031). Additionally, The France market would experience a CAGR of 22.8% during (2024 - 2031).
One of the core applications of these Plants is to stabilize electrical grids. In regions with significant renewable energy penetration, wind, and solar generation variability can create challenges for grid operators. A VPP can aggregate these variable resources, making them behave like a more predictable and stable power source.
VPPs allow aggregated resources to participate in electricity sector, offering ancillary services like frequency regulation, voltage control, and spinning reserve. These markets are critical for ensuring grid reliability. VPPs can aggregate excess electricity from renewable sources and store it for later use, making it available when grid demand spikes.
The energy landscape in Europe is undergoing a significant transformation as the region continues to invest in renewable energy sources and works toward achieving sustainability goals. As Europe adapts to these changes, the market's growth is poised to be crucial in optimizing energy distribution, enhancing grid flexibility, and supporting the continent's energy transition. In 2021, Europe saw a 4.4% increase in gross electricity production, reaching 2,907 TWh, with renewable energy sources becoming the largest contributors to the energy mix. This shift from fossil fuels and nuclear energy toward renewables such as wind, solar, and hydropower drives the demand for VPPs as the complexity of managing these distributed, intermittent energy sources increases. Electricity consumption in Europe also increased significantly across various sectors in 2021. The transport sector experienced a 11.6% rise in electricity consumption, followed by a 5% increase in the industrial sector and a 4.9% increase in residential consumption. Hence, the rising electricity production from renewable sources and the increasing demand for electricity across key European sectors highlight the need for innovative energy solutions like virtual power plants.
Based on Technology, the market is segmented into Demand Response, Distributed Energy Resource, and Mixed Asset. Based on End Use, the market is segmented into Industrial, Commercial, and Residential. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
- Siemens AG
- Toshiba Corporation
- Shell plc
- Hitachi, Ltd.
- ABB Ltd.
- Tesla, Inc.
- Robert Bosch GmbH
- GE Vernova Group
- Schneider Electric SE
- Cisco Systems, Inc.
Europe Virtual Power Plant Market Report Segmentation
By Technology
- Demand Response
- Distributed Energy Resource
- Mixed Asset
By End Use
- Industrial
- Commercial
- Residential
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Europe Virtual Power Plant Market, by Technology
- 1.4.2 Europe Virtual Power Plant Market, by End Use
- 1.4.3 Europe Virtual Power Plant Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.4.2 Key Strategic Move: (Mergers & Acquisition: 2021, Feb - 2025, Jan) Leading Players
- 4.5 Porter Five Forces Analysis
Chapter 5. Europe Virtual Power Plant Market by Technology
- 5.1 Europe Demand Response Market by Country
- 5.2 Europe Distributed Energy Resource Market by Country
- 5.3 Europe Mixed Asset Market by Country
Chapter 6. Europe Virtual Power Plant Market by End Use
- 6.1 Europe Industrial Market by Country
- 6.2 Europe Commercial Market by Country
- 6.3 Europe Residential Market by Country
Chapter 7. Europe Virtual Power Plant Market by Country
- 7.1 Germany Virtual Power Plant Market
- 7.1.1 Germany Virtual Power Plant Market by Technology
- 7.1.2 Germany Virtual Power Plant Market by End Use
- 7.2 UK Virtual Power Plant Market
- 7.2.1 UK Virtual Power Plant Market by Technology
- 7.2.2 UK Virtual Power Plant Market by End Use
- 7.3 France Virtual Power Plant Market
- 7.3.1 France Virtual Power Plant Market by Technology
- 7.3.2 France Virtual Power Plant Market by End Use
- 7.4 Russia Virtual Power Plant Market
- 7.4.1 Russia Virtual Power Plant Market by Technology
- 7.4.2 Russia Virtual Power Plant Market by End Use
- 7.5 Spain Virtual Power Plant Market
- 7.5.1 Spain Virtual Power Plant Market by Technology
- 7.5.2 Spain Virtual Power Plant Market by End Use
- 7.6 Italy Virtual Power Plant Market
- 7.6.1 Italy Virtual Power Plant Market by Technology
- 7.6.2 Italy Virtual Power Plant Market by End Use
- 7.7 Rest of Europe Virtual Power Plant Market
- 7.7.1 Rest of Europe Virtual Power Plant Market by Technology
- 7.7.2 Rest of Europe Virtual Power Plant Market by End Use
Chapter 8. Company Profiles
- 8.1 Siemens AG
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expense
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Product Launches and Product Expansions:
- 8.1.6 SWOT Analysis
- 8.2 Toshiba Corporation
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research and Development Expense
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Product Launches and Product Expansions:
- 8.2.6 SWOT Analysis
- 8.3 Shell plc
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expenses
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Acquisition and Mergers:
- 8.3.6 SWOT Analysis
- 8.4 Hitachi, Ltd.
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expenses
- 8.4.5 Recent strategies and developments:
- 8.4.5.1 Product Launches and Product Expansions:
- 8.4.5.2 Acquisition and Mergers:
- 8.4.6 SWOT Analysis
- 8.5 ABB Ltd.
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental and Regional Analysis
- 8.5.4 Research & Development Expense
- 8.5.5 Recent strategies and developments:
- 8.5.5.1 Acquisition and Mergers:
- 8.5.6 SWOT Analysis
- 8.6 Tesla, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental and Regional Analysis
- 8.6.4 Research & Development Expense
- 8.6.5 Recent strategies and developments:
- 8.6.5.1 Partnerships, Collaborations, and Agreements:
- 8.6.5.2 Product Launches and Product Expansions:
- 8.6.6 SWOT Analysis
- 8.7 Robert Bosch GmbH
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Segmental and Regional Analysis
- 8.7.4 Research & Development Expense
- 8.7.5 SWOT Analysis
- 8.8 GE Vernova Group
- 8.8.1 Company Overview
- 8.8.2 SWOT Analysis
- 8.9 Schneider Electric SE
- 8.9.1 Company Overview
- 8.9.2 Financial Analysis
- 8.9.3 Segmental and Regional Analysis
- 8.9.4 Research & Development Expense
- 8.9.5 Recent strategies and developments:
- 8.9.5.1 Acquisition and Mergers:
- 8.9.6 SWOT Analysis
- 8.10. Cisco Systems, Inc.
- 8.10.1 Company Overview
- 8.10.2 Financial Analysis
- 8.10.3 Regional Analysis
- 8.10.4 Research & Development Expense
- 8.10.5 Recent strategies and developments:
- 8.10.5.1 Partnerships, Collaborations, and Agreements:
- 8.10.6 SWOT Analysis
LIST OF TABLES
- TABLE 1 Europe Virtual Power Plant Market, 2020 - 2023, USD Million
- TABLE 2 Europe Virtual Power Plant Market, 2024 - 2031, USD Million
- TABLE 3 Partnerships, Collaborations and Agreements- Virtual Power Plant Market
- TABLE 4 Product Launches And Product Expansions- Virtual Power Plant Market
- TABLE 5 Acquisition and Mergers- Virtual Power Plant Market
- TABLE 6 Europe Virtual Power Plant Market by Technology, 2020 - 2023, USD Million
- TABLE 7 Europe Virtual Power Plant Market by Technology, 2024 - 2031, USD Million
- TABLE 8 Europe Demand Response Market by Country, 2020 - 2023, USD Million
- TABLE 9 Europe Demand Response Market by Country, 2024 - 2031, USD Million
- TABLE 10 Europe Distributed Energy Resource Market by Country, 2020 - 2023, USD Million
- TABLE 11 Europe Distributed Energy Resource Market by Country, 2024 - 2031, USD Million
- TABLE 12 Europe Mixed Asset Market by Country, 2020 - 2023, USD Million
- TABLE 13 Europe Mixed Asset Market by Country, 2024 - 2031, USD Million
- TABLE 14 Europe Virtual Power Plant Market by End Use, 2020 - 2023, USD Million
- TABLE 15 Europe Virtual Power Plant Market by End Use, 2024 - 2031, USD Million
- TABLE 16 Europe Industrial Market by Country, 2020 - 2023, USD Million
- TABLE 17 Europe Industrial Market by Country, 2024 - 2031, USD Million
- TABLE 18 Europe Commercial Market by Country, 2020 - 2023, USD Million
- TABLE 19 Europe Commercial Market by Country, 2024 - 2031, USD Million
- TABLE 20 Europe Residential Market by Country, 2020 - 2023, USD Million
- TABLE 21 Europe Residential Market by Country, 2024 - 2031, USD Million
- TABLE 22 Europe Virtual Power Plant Market by Country, 2020 - 2023, USD Million
- TABLE 23 Europe Virtual Power Plant Market by Country, 2024 - 2031, USD Million
- TABLE 24 Germany Virtual Power Plant Market, 2020 - 2023, USD Million
- TABLE 25 Germany Virtual Power Plant Market, 2024 - 2031, USD Million
- TABLE 26 Germany Virtual Power Plant Market by Technology, 2020 - 2023, USD Million
- TABLE 27 Germany Virtual Power Plant Market by Technology, 2024 - 2031, USD Million
- TABLE 28 Germany Virtual Power Plant Market by End Use, 2020 - 2023, USD Million
- TABLE 29 Germany Virtual Power Plant Market by End Use, 2024 - 2031, USD Million
- TABLE 30 UK Virtual Power Plant Market, 2020 - 2023, USD Million
- TABLE 31 UK Virtual Power Plant Market, 2024 - 2031, USD Million
- TABLE 32 UK Virtual Power Plant Market by Technology, 2020 - 2023, USD Million
- TABLE 33 UK Virtual Power Plant Market by Technology, 2024 - 2031, USD Million
- TABLE 34 UK Virtual Power Plant Market by End Use, 2020 - 2023, USD Million
- TABLE 35 UK Virtual Power Plant Market by End Use, 2024 - 2031, USD Million
- TABLE 36 France Virtual Power Plant Market, 2020 - 2023, USD Million
- TABLE 37 France Virtual Power Plant Market, 2024 - 2031, USD Million
- TABLE 38 France Virtual Power Plant Market by Technology, 2020 - 2023, USD Million
- TABLE 39 France Virtual Power Plant Market by Technology, 2024 - 2031, USD Million
- TABLE 40 France Virtual Power Plant Market by End Use, 2020 - 2023, USD Million
- TABLE 41 France Virtual Power Plant Market by End Use, 2024 - 2031, USD Million
- TABLE 42 Russia Virtual Power Plant Market, 2020 - 2023, USD Million
- TABLE 43 Russia Virtual Power Plant Market, 2024 - 2031, USD Million
- TABLE 44 Russia Virtual Power Plant Market by Technology, 2020 - 2023, USD Million
- TABLE 45 Russia Virtual Power Plant Market by Technology, 2024 - 2031, USD Million
- TABLE 46 Russia Virtual Power Plant Market by End Use, 2020 - 2023, USD Million
- TABLE 47 Russia Virtual Power Plant Market by End Use, 2024 - 2031, USD Million
- TABLE 48 Spain Virtual Power Plant Market, 2020 - 2023, USD Million
- TABLE 49 Spain Virtual Power Plant Market, 2024 - 2031, USD Million
- TABLE 50 Spain Virtual Power Plant Market by Technology, 2020 - 2023, USD Million
- TABLE 51 Spain Virtual Power Plant Market by Technology, 2024 - 2031, USD Million
- TABLE 52 Spain Virtual Power Plant Market by End Use, 2020 - 2023, USD Million
- TABLE 53 Spain Virtual Power Plant Market by End Use, 2024 - 2031, USD Million
- TABLE 54 Italy Virtual Power Plant Market, 2020 - 2023, USD Million
- TABLE 55 Italy Virtual Power Plant Market, 2024 - 2031, USD Million
- TABLE 56 Italy Virtual Power Plant Market by Technology, 2020 - 2023, USD Million
- TABLE 57 Italy Virtual Power Plant Market by Technology, 2024 - 2031, USD Million
- TABLE 58 Italy Virtual Power Plant Market by End Use, 2020 - 2023, USD Million
- TABLE 59 Italy Virtual Power Plant Market by End Use, 2024 - 2031, USD Million
- TABLE 60 Rest of Europe Virtual Power Plant Market, 2020 - 2023, USD Million
- TABLE 61 Rest of Europe Virtual Power Plant Market, 2024 - 2031, USD Million
- TABLE 62 Rest of Europe Virtual Power Plant Market by Technology, 2020 - 2023, USD Million
- TABLE 63 Rest of Europe Virtual Power Plant Market by Technology, 2024 - 2031, USD Million
- TABLE 64 Rest of Europe Virtual Power Plant Market by End Use, 2020 - 2023, USD Million
- TABLE 65 Rest of Europe Virtual Power Plant Market by End Use, 2024 - 2031, USD Million
- TABLE 66 Key Information - Siemens AG
- TABLE 67 Key Information - Toshiba Corporation
- TABLE 68 Key Information - Shell plc
- TABLE 69 Key Information - Hitachi, Ltd.
- TABLE 70 Key Information - ABB Ltd.
- TABLE 71 key Information - Tesla, Inc.
- TABLE 72 Key Information - Robert Bosch GmbH
- TABLE 73 Key Information - GE Vernova Group
- TABLE 74 Key Information - Schneider Electric SE
- TABLE 75 Key Information - Cisco Systems, Inc.
