Virtual Power Plant Market Report: Trends, Forecast and Competitive Analysis to 2030

Virtual Power Plant Trends and Forecast

The future of the global virtual power plant market looks promising with opportunities in the industrial, commercial, and residential markets. The global virtual power plant market is expected to grow with a CAGR of 22.4% from 2024 to 2030. The major drivers for this market are rising demand for power generation from renewable sources and growing adoption of renewable energy resources.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Virtual Power Plant by Segment

The study includes a forecast for the global virtual power plant by technology, end use, and region.

Virtual Power Plant Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Distributed Energy Resource
• Demand Response
• Mixed Asset

Virtual Power Plant Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Industrial
• Commercial
• Residential

Virtual Power Plant Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Virtual Power Plant Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies virtual power plant companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the virtual power plant companies profiled in this report include-

• Siemens
• Toshiba Energy Systems & Solutions
• Next Kraftwerke
• Hitachi
• ABB
• Tesla
• AutoGrid Systems
• Limejump
• Sunverge Energy
• Centrica

Virtual Power Plant Market Insights

Lucintel forecasts that demand response will remain the largest segment over the forecast period.

Within this market, industrial will remain the largest segment over the forecast period.

North America will remain the largest region over the forecast period.

Features of the Global Virtual Power Plant Market

Market Size Estimates: Virtual power plant market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Virtual power plant market size by technology, end use, and region in terms of value ($B).

Regional Analysis: Virtual power plant market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different technologies, end uses, and regions for the virtual power plant market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the virtual power plant market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for virtual power plant market?

Answer: The global virtual power plant market is expected to grow with a CAGR of 22.4% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the virtual power plant market?

Answer: The major drivers for this market are rising demand for power generation from renewable sources and growing adoption of renewable energy resources.

Q3. What are the major segments for virtual power plant market?

Answer: The future of the virtual power plant market looks promising with opportunities in the industrial, commercial, and residential markets.

Q4. Who are the key virtual power plant market companies?

Answer: Some of the key virtual power plant companies are as follows:

• Siemens
• Toshiba Energy Systems & Solutions
• Next Kraftwerke
• Hitachi
• ABB
• Tesla
• AutoGrid Systems
• Limejump
• Sunverge Energy
• Centrica

Q5. Which virtual power plant market segment will be the largest in future?

Answer: Lucintel forecasts that demand response will remain the largest segment over the forecast period.

Q6. In virtual power plant market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the virtual power plant market by technology (distributed energy resource, demand response, and mixed asset), end use (industrial, commercial, and residential), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?