Market By Technology, Source, End-user, And Country | Forecast 2019-2028
The Asia-Pacific virtual power plant market is likely to showcase growth at 23.47% of CAGR during the predicted period 2019-2028.
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The countries analyzed in this market include:
•       India
•       China
•       Japan
•       Australia & New Zealand
•       South Korea
•       ASEAN countries
•       Rest of APAC
The energy consumption in China has increased to a large extent owing to the growth in urban developments. The government has presented policies and guidelines to restrict the rising electricity cost. Moreover, under the International Energy Agency’s 2016 guidelines, certain energy efficiency standards have been set for industrial and electrical appliances. Virtual power plants are set to help China efficiently compete in the global energy management industry. With China entering its 13th five-year plan, the large investments by prominent companies, partnerships, and government initiatives are anticipated to be heightened to establish more virtual power plant projects. This will help the virtual power plant market to grow in the upcoming years.
In India, the power sector is transforming with the growing involvement of renewable energy sources. The gradual shift from the usage of a centralized power system to a distributed system is likely to open possibilities in the Indian power sector. Further, the rising market of automation and controlled technologies have opened up avenues in the South Korean market. The country’s efforts to improve energy efficiency by reducing the use of carbon-intensive fuel adds to the growth of the virtual power plant market. Additionally, the government measures to increase the share of renewable energy production is leading to the market’s growth.
Hitachi Ltd is involved in the production of electronic and electrical products. The company operates in sectors such as information and telecommunications, automotive, construction, consumer electronics, power, and financial sectors. In both countries, virtual power plants, integrated into grid, are used as energy sources to distribute electricity to the consumer. The company is headquartered in Japan.Â
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1. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET - SUMMARY
2. INDUSTRY OUTLOOK
2.1. MARKET DEFINITION
2.2. KEY INSIGHTS
2.2.1. DEMAND LEADS TECHNOLOGY SEGMENT
2.2.2. RISE IN RENEWABLE ENERGY GENERATION TO DRIVE MARKET
2.2.3. INTEGRATION OF BLOCKCHAIN ENHANCES CAPABILITIES OF VIRTUAL POWER PLANTS
2.3. PORTER’S FIVE FORCES ANALYSIS
2.3.1. THREAT OF NEW ENTRANTS
2.3.2. THREAT OF SUBSTITUTE
2.3.3. BARGAINING POWER OF SUPPLIERS
2.3.4. BARGAINING POWER OF BUYERS
2.3.5. THREAT OF COMPETITIVE RIVALRY
2.4. KEY IMPACT ANALYSIS
2.4.1. PRICE
2.4.2. SCALABILITY
2.4.3. TECHNOLOGY
2.4.4. FEASIBILITY
2.5. MARKET ATTRACTIVENESS INDEX
2.6. VENDOR SCORECARD
2.7. INDUSTRY COMPONENTS
2.7.1. POWER PRODUCERS
2.7.2. VIRTUAL POWER PLANT
2.7.3. DIRECTED ENERGY OPERATORS (DSOS)
2.7.4. END-USERS
2.8. REGULATORY FRAMEWORK
2.9. MARKET DRIVERS
2.9.1. GROWING ADOPTION OF DECENTRALIZED POWER GENERATION
2.9.2. INCREASE IN RENEWABLE ENERGY GENERATION
2.9.3. RISE IN TREND OF CLOUD-BASED ENERGY MANAGEMENT SYSTEMS
2.9.4. GOVERNMENT INITIATIVES TO FAVOR MARKET
2.10. MARKET RESTRAINTS
2.10.1. HIGH INITIAL INVESTMENT
2.10.2. LACK OF SKILLED PROFESSIONALS
2.11. MARKET OPPORTUNITIES
2.11.1. AUSTRALIAN MARKET POSSESSES IMMENSE GROWTH OPPORTUNITIES
2.11.2. GROWTH IN ELECTRIC VEHICLE MARKET TO GENERATE OPPORTUNITIES
2.12. MARKET CHALLENGES
2.12.1. PRIVACY CONCERNS
2.13. IMPACT OF COVID-19 PANDEMIC ON VIRTUAL POWER PLANT MARKET
3. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET OUTLOOK - BY TECHNOLOGY
3.1. DEMAND RESPONSE
3.2. DISTRIBUTED GENERATION
3.3. MIXED ASSETS
4. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET OUTLOOK - BY SOURCE
4.1. DISTRIBUTED ENERGY GENERATION SYSTEM
4.2. ENERGY STORAGE SYSTEM
5. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET OUTLOOK - BY END-USER
5.1. INDUSTRIAL
5.2. COMMERCIAL
5.3. RESIDENTIAL
6. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET - REGIONAL OUTLOOK
6.1. CHINA
6.2. JAPAN
6.3. INDIA
6.4. SOUTH KOREA
6.5. ASEAN COUNTRIES
6.6. AUSTRALIA & NEW ZEALAND
6.7. REST OF ASIA PACIFIC
7. COMPETITIVE LANDSCAPE
7.1. ABB LTD
7.2. AUTOGRID SYSTEMS INC
7.3. STATKRAFT
7.4. NEXT KRAFTWERKE
7.5. ENEL X
7.6. GENERAL ELECTRIC
7.7. HITACHI LTD
7.8. FLEXITRICITY LIMITED
7.9. IBM CORPORATION
7.10. OPEN ACCESS TECHNOLOGY INTERNATIONAL INC
7.11. ROBERT BOSCH
7.12. SCHNEIDER ELECTRIC
7.13. SIEMENS
7.14. VIRIDITY ENERGY
7.15. ENBALA
8. METHODOLOGY & SCOPE
8.1. RESEARCH SCOPE & DELIVERABLES
8.2. SOURCES OF DATA
8.3. RESEARCH METHODOLOGY
TABLE 1. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
TABLE 2. MARKET ATTRACTIVENESS INDEX
TABLE 3. VENDOR SCORECARD
TABLE 4. REGULATORY FRAMEWORK
TABLE 5. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 6. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY SOURCE, 2019-2028 (IN $ MILLION)
TABLE 7. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
TABLE 8. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
FIGURE 1. PORTER’S FIVE FORCES ANALYSIS
FIGURE 2. KEY BUYING IMPACT ANALYSIS
FIGURE 3. INDUSTRY COMPONENTS
FIGURE 4. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY DEMAND RESPONSE, 2019-2028 (IN $ MILLION)
FIGURE 5. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED GENERATION, 2019-2028 (IN $ MILLION)
FIGURE 6. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY MIXED ASSETS, 2019-2028 (IN $ MILLION)
FIGURE 7. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED ENERGY GENERATION SYSTEM, 2019-2028 (IN $ MILLION)
FIGURE 8. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY ENERGY STORAGE SYSTEM, 2019-2028 (IN $ MILLION)
FIGURE 9. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY INDUSTRIAL, 2019-2028 (IN $ MILLION)
FIGURE 10. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY COMMERCIAL, 2019-2028 (IN $ MILLION)
FIGURE 11. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY RESIDENTIAL, 2019-2028 (IN $ MILLION)
FIGURE 12. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, REGIONAL OUTLOOK, 2019 AND 2028 (IN %)
FIGURE 13. CHINA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)
FIGURE 14. JAPAN VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)
FIGURE 15. INDIA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)
FIGURE 16. SOUTH KOREA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)
FIGURE 17. ASEAN COUNTRIES VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)
FIGURE 18. AUSTRALIA & NEW ZEALAND VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)
FIGURE 19. REST OF ASIA-PACIFIC VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)