ASIA-PACIFIC VIRTUAL POWER PLANT MARKET 2024-2032

Energy, Power & Utilities | Utilities

ASIA-PACIFIC VIRTUAL POWER PLANT MARKET 2024-2032

Market by Technology, End-user, and Country Outlook | Forecast 2024-2032

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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

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Table of Content

1. 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

List of Tables

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)

List of Figures

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)

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