NORTH AMERICA VIRTUAL POWER PLANT MARKET 2024-2032

Energy, Power & Utilities | Utilities

NORTH AMERICA 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 predicts that the virtual power plant market in North America will achieve revenue at 23.42% CAGR in the forecast years 2024-2032.


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The countries analyzed in the studied region include:

•        United States

•        Canada

North America witnessed a significant uptake in grid-balancing technologies catering to industrial, commercial, and residential sectors. The emphasis on clean energy generation through renewables is anticipated to drive the deployment of virtual power plants to strategically manage and distribute energy. Thus, with minimal power wastage, it will cater to the increasing energy demand which will lead to the expansion of the studied market.

In the United States, the market is dominated by the adoption of virtual power plants aimed at optimizing energy distribution efficiency and reducing wastage. Several companies are actively collaborating in renewable energy production by lending their support in mitigating energy demand. Thus, the integration of virtual power plants into the grid offers a solution that boosts the growth of the virtual power plants market.

In Canada, government funding to increase renewable energy production positively influences the progression of the virtual power plant market. The country relies heavily on distributed electricity generation to satisfy ever-growing energy needs. With numerous companies transitioning from centralized power systems to technology-driven distributed power generation, the virtual power plant is bound to grow.

Commercial virtual power plants provide an opportunity to balance energy demand and supply for their end users. The commercial buildings face issues of electricity shortage during peak hours and high per-unit electricity costs. Commercial consumers include offices, government institutions, public services, and hospitals, among others. The market segments for virtual power plants are determined based on end-user and technology. The end-user segment is categorized into commercial, residential, and industrial.

The leading market players in the virtual power plant market are General Electric Company, Next Kraftwerke, ABB Ltd, EnergyHub, Limejump, Autogrid Systems Inc, Generac Grid Services, Sunverge Energy Inc, Cisco Systems Inc, Bosch, Siemens AG, and Enel X.

Enel X is a provider of cloud-based energy intelligence software and services to enterprise customers and utilities. Its services include distributed generation and microgrids, bill management, energy infrastructure, advisory and energy intelligence software, etc. The company is headquartered in the United States and operates in Italy, Iberia, South America, North & Central America, Rest of Europe and other countries.


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 North America 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 North America virtual power plant market’s growth during the upcoming years

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Table of Content

1. NORTH AMERICA 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. NORTH AMERICA VIRTUAL POWER PLANT MARKET - BY TECHNOLOGY

3.1. DEMAND RESPONSE

3.2. DISTRIBUTED GENERATION

3.3. MIXED ASSETS

4. NORTH AMERICA VIRTUAL POWER PLANT MARKET - BY END-USER

4.1. INDUSTRIAL

4.2. COMMERCIAL

4.3. RESIDENTIAL

5. NORTH AMERICA VIRTUAL POWER PLANT MARKET – BY COUNTRY OUTLOOK

5.1. COUNTRY ANALYSIS

5.1.1. UNITED STATES

5.1.2. CANADA

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: NORTH AMERICA 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: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)

TABLE 6: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2024-2032 (IN $ MILLION)

List of Figures

FIGURE 1: PORTER’S FIVE FORCES ANALYSIS

FIGURE 2: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2023 & 2032

FIGURE 3: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY DEMAND RESPONSE, 2024-2032 (IN $ MILLION)

FIGURE 4: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED GENERATION, 2024-2032 (IN $ MILLION)

FIGURE 5: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY MIXED ASSETS, 2024-2032 (IN $ MILLION)

FIGURE 6: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2023 & 2032 (IN %)

FIGURE 7: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY INDUSTRIAL, 2024-2032 (IN $ MILLION)

FIGURE 8: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY COMMERCIAL, 2024-2032 (IN $ MILLION)

FIGURE 9: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY RESIDENTIAL, 2024-2032 (IN $ MILLION)

FIGURE 10: UNITED STATES VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)

FIGURE 11: CANADA VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)

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