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Global Virtual Power Plant Market By Technology (Demand Response, Mixed Asset and Distributed Generation), By End-Users (Industrial, Commercial and Residential), By Region (Asia-Pacific, Europe, Others), Forecast & Opportunities to 2026

The global virtual power plant market accounted for a value of USD 1.1 billion in 2019 and is projected to register growth at a CAGR of 20.0% during forecast period.

COVID-19 has impacted the virtual power plant market. The energy and power industry is disrupted due to spread of corona virus across the world. All the activities in power and energy sector are halted due and many projects are either postponed or stopped due to lockdown. The supply chain is disrupted due to travel restriction. The virtual power plant market is likely to recover from 2021.

Definition:

Virtual power plant can be defined as decentralized power plant which contains decentralized power systems. It helps in integrating different distributed energy sources such as hydroelectric plants, solar PV cells and wind turbines. It provides efficient power generation even at peak load periods. It generates medium scale power and consists of various mixed assets which are connected through central control system.

Market Dynamics (Drivers/Opportunities):

The share of renewable energy is increasing in the power generation mix. Renewable energy is a naturally occurring source of energy and it is vital for reducing greenhouse gas emission in the environment.  The awareness about harmful effects of fuel based power plants on environment is increasing in the world which leads to increase in renewable energy sources in power generation. This dives growth in virtual power plants segment during forecast period.

The energy generation segment is shifting from centralized to distributed generation. The cost of solar energy generation along with storage cost is decreasing which leads to high adoption of solar PV across the world. The demand for electric vehicles is increasing in the world which runs on battery. The smart grids are also developing rapidly around the world. This drives growth in virtual power plant segment during forecast period.

Market Insights, by Technology

On the basis of technology, the virtual power plants market is segmented into demand response, mixed asset and distributed generation. The demand response segment is estimated to hold largest market share during forecast period. The grid modernization is increasing around the world. This increases demand for demand response segment and drives growth in this segment during forecast period.

Market Insights, by End-Users

On the basis of end-user, the virtual power plants market is segmented into industrial, commercial and residential end-user. Industrial segment is estimated to hold highest market share during forecast period. The medium and small sized virtual power plants application is increasing in industrial segment. The virtual power plants are suitable for energy generation as it is highly efficient. The adoption of virtual power plant is increasing in industrial segment and this drives growth in industrial segment during forecast period.

Regional Insights                               

Europe region is estimated to hold largest market share during forecast period. Europe has presence of large number of industry players. Government in this region is adopting various initiatives to promote green energy in many countries in European region. However, Asia-Pacific region is estimated to register highest growth during forecast period. The countries such as India and China are responsible for highest growth due to increase in industrialization in these countries. This drives growth in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in virtual power plant market are ABB Ltd., Autogrid System, Blue Pillar, Cisco System Inc., Comverge, Cpower energy management, Enbala Power Networks, Enernoc Inc., Flexitricity ltd., general electric, Hitachi, IBM, Limejump Ltd., Next kraftwerke, Olivene inc., Osisoft, Robert Bosch GmbH, Schneider electric and Siemens AG.

Segments Covered in the Report

This report forecasts The Global Virtual Power Plant Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global virtual power plant market report on the basis of technology and end-users.

Virtual Power Plant Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Virtual Power Plant Market, By Technology, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Demand Response
  • Mixed Asset
  • Distributed Generation
  1. Virtual Power Plant Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Industrial
  • Commercial
  • Residential
  1. Virtual Power Plant Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Technology
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Technology
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Technology
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Technology
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Technology
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Siemens AG.
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • ABB Ltd.
    • Autogrid System
    • Blue Pillar
    • Cisco System Inc.
    • Comverge
    • Cpower Energy Management
    • Enbala Power Networks
    • Enernoc Inc.
    • Flexitricity Ltd.
    • General Electric
    • Hitachi
    • IBM
    • Limejump Ltd.
    • Next kraftwerke
    • Olivene Inc.
    • Osisoft
    • Robert Bosch GmbH
    • Schneider Electric
  2. Appendix
    • Interrelated Market

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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