Market by Technology, End-user, and Country Outlook | Forecast 2024-2032
Triton’s research report examines that the
Asia-Pacific virtual power plant market is estimated to achieve revenue at 23.74% CAGR during the forecast years 2024-2032.
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The countries examined in this region include:
•
China
•
Japan
•
South Korea
•
India
•
ASEAN Countries
•
Rest of Asia-Pacific
Virtual power plants are
becoming increasingly popular in the Asia-Pacific region due to the supportive
government policies and regulations aimed at promoting clean energy generation.
Stakeholders and private companies are actively investing in R&D to
implement strategies and develop virtual power plants for more efficient energy
consumption. With developing countries experiencing industrialization, the
virtual power plant market is bound to grow significantly.
China
leads the virtual power plant market with the highest share. The surge in energy consumption,
driven by rapid urbanization, has led the government to implement policies to
curb the growing electricity costs. Additionally, adherence to energy
efficiency standards outlined by the International Energy Agency for industrial
and electrical appliances has become a priority. The country is, therefore, leveraging
virtual power plants to enhance its competitiveness in the global energy
management sector, which is expected to further accelerate the deployment of
virtual power plant projects.
Similarly,
the power sector in India is transforming as renewable energy sources become
increasingly prominent. The shift from centralized to distributed power systems
presents new opportunities in this market. Thus, growth due to the demand for
automation and controlled technologies and efforts to enhance energy efficiency
by reducing reliance on carbon-intensive fuels are contributing to the
expansion of the virtual power plant market. Furthermore, government
initiatives aimed at boosting the share of renewable energy production are also
driving market growth.
The
major focus of industrial consumers is on reducing energy costs and achieving
continuous electricity supply to meet the required demand. Owing to the
increasing electricity generation from renewable energy sources, industries are
witnessing the highest adoption of virtual power plants. The growth of the virtual
power plant market is determined based on technology and end-user. The
end-user segment is branched into industrial, commercial, and residential.
Major
market players leading in the virtual
power plant market
include ABB Ltd, Bosch, Autogrid Systems Inc, General Electric Company, Next
Kraftwerke, Enel X, Generac Grid Services, Sunverge Energy Inc, Siemens AG, Cisco
Systems Inc, EnergyHub, and Limejump.
ABB
Ltd provides electrification, automation, robotics, and digitalization
solutions to industrial customers. It operates in four core businesses, which
include electrification, industrial automation, motion and robotics, and
discrete automation. The company Has business operations in more than 100
countries and is headquartered in Zurich, Switzerland.
KEY
DELIVERABLES OF THE REPORT:
●
Market CAGR during the forecasting years 2024-2032
●
Detailed data highlighting key insights, industry components, and
market strategies
●
Comprehensive information and estimation of the virtual
power plant market
revenue growth in the Asia-Pacific and its influence on the parent market
●
In-depth study of forthcoming trends in consumer behavioral
patterns
●
A meticulous analysis of the competitive landscape and Porter’s
Five Forces
●
A wide-ranging study of factors that will challenge the APAC virtual
power plant market’s
growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. ASIA-PACIFIC
VIRTUAL POWER PLANT MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE VIRTUAL POWER PLANT MARKET
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF SUPPLIERS
2.2.4. BARGAINING
POWER OF BUYERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. KEY
MARKET STRATEGIES
2.3.1. CONTRACTS
AND PARTNERSHIPS
2.3.2. BUSINESS
EXPANSIONS AND DIVESTITURES
2.3.3. ACQUISITIONS
2.4. MARKET
DRIVERS
2.4.1. GROWING
FOCUS ON RENEWABLE ENERGY GENERATION
2.4.2. INCREASING
PREVALENCE OF DECENTRALIZED POWER GENERATION
2.5. MARKET
CHALLENGES
2.5.1. EXTENSIVE
CAPITAL REQUIREMENT
2.5.2. LACKING
INFRASTRUCTURE AND ISSUES IN INCORPORATING TECHNOLOGY
2.6. ANALYST
PERSPECTIVE
3. ASIA-PACIFIC
VIRTUAL POWER PLANT MARKET - BY TECHNOLOGY
3.1. DEMAND
RESPONSE
3.2. DISTRIBUTED
GENERATION
3.3. MIXED
ASSETS
4. ASIA-PACIFIC
VIRTUAL POWER PLANT MARKET - BY END-USER
4.1. INDUSTRIAL
4.2. COMMERCIAL
4.3. RESIDENTIAL
5. ASIA-PACIFIC
VIRTUAL POWER PLANT MARKET – BY COUNTRY OUTLOOK
5.1. COUNTRY
ANALYSIS
5.1.1. CHINA
5.1.2. JAPAN
5.1.3. INDIA
5.1.4. SOUTH
KOREA
5.1.5. ASEAN
COUNTRIES
5.1.6. REST
OF ASIA-PACIFIC
6. COMPETITIVE
LANDSCAPE
6.1. ABB
LTD
6.1.1. OVERVIEW
6.1.2. PRODUCT
PORTFOLIO
6.1.3. STRENGTHS
6.1.4. CHALLENGE
6.2. AUTOGRID
SYSTEMS INC
6.2.1. OVERVIEW
6.2.2. PRODUCT
PORTFOLIO
6.2.3. STRENGTHS
6.2.4. CHALLENGE
6.3. ENEL
X
6.3.1. OVERVIEW
6.3.2. PRODUCT
PORTFOLIO
6.3.3. STRENGTHS
6.3.4. CHALLENGE
6.4. GENERAL
ELECTRIC COMPANY
6.4.1. OVERVIEW
6.4.2. PRODUCT
PORTFOLIO
6.4.3. STRENGTHS
6.4.4. CHALLENGE
6.5. BOSCH
6.5.1. OVERVIEW
6.5.2. PRODUCT
PORTFOLIO
6.5.3. STRENGTHS
6.5.4. CHALLENGE
6.6. NEXT
KRAFTWERKE
6.6.1. OVERVIEW
6.6.2. PRODUCT
PORTFOLIO
6.6.3. STRENGTHS
6.6.4. CHALLENGE
6.7. GENERAC
GRID SERVICES
6.7.1. OVERVIEW
6.7.2. PRODUCT
PORTFOLIO
6.7.3. STRENGTHS
6.7.4. CHALLENGE
6.8. SUNVERGE
ENERGY INC
6.8.1. OVERVIEW
6.8.2. PRODUCT
PORTFOLIO
6.8.3. STRENGTHS
6.8.4. CHALLENGE
6.9. CISCO
SYSTEMS INC
6.9.1. OVERVIEW
6.9.2. PRODUCT
PORTFOLIO
6.9.3. STRENGTHS
6.9.4. CHALLENGE
6.10. SIEMENS
AG
6.10.1. OVERVIEW
6.10.2. PRODUCT
PORTFOLIO
6.10.3. STRENGTHS
6.10.4. CHALLENGE
6.11. ENERGYHUB
6.11.1. OVERVIEW
6.11.2. PRODUCT
PORTFOLIO
6.12. LIMEJUMP
6.12.1. OVERVIEW
6.12.2. PRODUCT
PORTFOLIO
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.1.1. OBJECTIVES
OF STUDY
7.1.2. SCOPE
OF STUDY
7.2. SOURCES
OF DATA
7.2.1. PRIMARY
DATA SOURCES
7.2.2. SECONDARY
DATA SOURCES
7.3. RESEARCH
METHODOLOGY
7.3.1. EVALUATION
OF THE PROPOSED MARKET
7.3.2. IDENTIFICATION
OF DATA SOURCES
7.3.3. ASSESSMENT
OF MARKET DETERMINANTS
7.3.4. DATA
COLLECTION
7.3.5. DATA
VALIDATION & ANALYSIS
TABLE 1: ASIA-PACIFIC VIRTUAL
POWER PLANT MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
TABLE 2: LIST OF CONTRACTS AND
PARTNERSHIPS
TABLE 3: LIST OF BUSINESS
EXPANSIONS AND DIVESTITURES
TABLE 4: LIST OF ACQUISITIONS
TABLE 5: ASIA-PACIFIC VIRTUAL
POWER PLANT MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)
TABLE 6: ASIA-PACIFIC VIRTUAL
POWER PLANT MARKET, BY END-USER, 2024-2032 (IN $ MILLION)
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2023
& 2032
FIGURE 3: ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY DEMAND RESPONSE,
2024-2032 (IN $ MILLION)
FIGURE 4: ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED
GENERATION, 2024-2032 (IN $ MILLION)
FIGURE 5: ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY MIXED ASSETS,
2024-2032 (IN $ MILLION)
FIGURE 6: ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY END-USER, 2023
& 2032 (IN %)
FIGURE 7: ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY INDUSTRIAL,
2024-2032 (IN $ MILLION)
FIGURE 8: ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY COMMERCIAL,
2024-2032 (IN $ MILLION)
FIGURE 9: ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY RESIDENTIAL,
2024-2032 (IN $ MILLION)
FIGURE 10: CHINA VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 11: JAPAN VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 12: INDIA VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 13: SOUTH KOREA VIRTUAL POWER PLANT MARKET 2024-2032 (IN $
MILLION)
FIGURE 14: ASEAN COUNTRIES VIRTUAL POWER PLANT MARKET 2024-2032 (IN $
MILLION)
FIGURE 15: REST OF ASIA-PACIFIC VIRTUAL POWER PLANT MARKET 2024-2032 (IN
$ MILLION)