GLOBAL VIRTUAL POWER PLANT MARKET 2019-2028

Energy, Power & Utilities | Power

GLOBAL VIRTUAL POWER PLANT MARKET 2019-2028

Market By Technology, Source, End-user, And Geography | Forecast 2019-2028

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Triton’s detailed analysis states that the virtual power plant market is anticipated to grow in terms of revenue at a CAGR of 21.57% during the forecast years of 2019-2028. The market accounted for $706.99 million in 2019, and is expected to reach $4099.45 million by 2028.

Virtual power plants are data control centers that manage the demand for energy in an area using cloud-based and Internet of Things (IoT) technologies. These plants permit a stable power supply by linking power sources such as wind, solar, batteries, and small hydro. It also helps utilities to use these sources to generate electricity and store them in battery banks to supply to the consumer.


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Triton Market Research’s report on the virtual power plant market gives a comprehensive insight into the market. The detailed analysis includes definition, key insight, Porter’s five forces analysis, key impact analysis, market attractiveness index, vendor scorecard, and regulatory framework.

The rise in the adoption of decentralized electricity generation is majorly driving the growth of the market. Due to its operational benefits such as ancillary services, peak power requirements, system stability, and grid protection, the distributed generation is trending as the present centralized generation system cannot impart these benefits. Virtual power plants are able to increase the efficiency of decentralized power generation by managing the energy requirements.

However, the high initial investment and lack of skilled professionals are restricting the market’s growth. While the adoption and demand for virtual power plant technology surges, the information technology knowledge system still requires advancement. Further, a crucial skill-set, such as knowledge of programming language, GPU programming, and parallel processing to solve various technical problems, is lacking. This limits the progress of the market.




Key geographies covered in the global virtual power plant market are:

           North America: United States and Canada

           Europe: United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe

           Asia-Pacific: China, Japan, India, South Korea, ASEAN countries, Australia & New Zealand, and Rest of Asia-Pacific

           Latin America: Brazil, Mexico, and Rest of Latin America

           Middle East and Africa: United Arab Emirates, Turkey, Saudi Arabia, South Africa, and Rest of Middle East & Africa

The virtual power plant market is segmented as:

           Market by Technology:

o          Demand Response

o          Distributed Generation

o          Mixed Assets

           Market by Source:

o          Distributed Energy Generation System

o          Energy Storage System

           Market by End-user:

o          Industrial

o          Commercial

o          Residential

The key establishments profiled in the virtual power plant market include Hitachi Ltd, Statkraft, ABB Ltd, Next Kraftwerke, Enel X, Enbala, Viridity Energy, General Electric, Flexitricity Limited, IBM Corporation, Robert Bosch, Schneider Electric, Siemens, AutoGrid Systems Inc, and Open Access Technology International Inc.

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Table of Content

1. GLOBAL 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. GLOBAL VIRTUAL POWER PLANT MARKET OUTLOOK - BY TECHNOLOGY

3.1. DEMAND RESPONSE

3.2. DISTRIBUTED GENERATION

3.3. MIXED ASSETS

4. GLOBAL VIRTUAL POWER PLANT MARKET OUTLOOK - BY SOURCE

4.1. DISTRIBUTED ENERGY GENERATION SYSTEM

4.2. ENERGY STORAGE SYSTEM

5. GLOBAL VIRTUAL POWER PLANT MARKET OUTLOOK - BY END-USER

5.1. INDUSTRIAL

5.2. COMMERCIAL

5.3. RESIDENTIAL

6. GLOBAL VIRTUAL POWER PLANT MARKET - REGIONAL OUTLOOK

6.1. NORTH AMERICA

6.1.1. MARKET BY TECHNOLOGY

6.1.2. MARKET BY SOURCE

6.1.3. MARKET BY END-USER

6.1.4. COUNTRY ANALYSIS

6.1.4.1. UNITED STATES

6.1.4.2. CANADA

6.2. EUROPE

6.2.1. MARKET BY TECHNOLOGY

6.2.2. MARKET BY SOURCE

6.2.3. MARKET BY END-USER

6.2.4. COUNTRY ANALYSIS

6.2.4.1. UNITED KINGDOM

6.2.4.2. GERMANY

6.2.4.3. FRANCE

6.2.4.4. SPAIN

6.2.4.5. ITALY

6.2.4.6. RUSSIA

6.2.4.7. REST OF EUROPE

6.3. ASIA-PACIFIC

6.3.1. MARKET BY TECHNOLOGY

6.3.2. MARKET BY SOURCE

6.3.3. MARKET BY END-USER

6.3.4. COUNTRY ANALYSIS

6.3.4.1. CHINA

6.3.4.2. JAPAN

6.3.4.3. INDIA

6.3.4.4. SOUTH KOREA

6.3.4.5. ASEAN COUNTRIES

6.3.4.6. AUSTRALIA & NEW ZEALAND

6.3.4.7. REST OF ASIA-PACIFIC

6.4. LATIN AMERICA

6.4.1. MARKET BY TECHNOLOGY

6.4.2. MARKET BY SOURCE

6.4.3. MARKET BY END-USER

6.4.4. COUNTRY ANALYSIS

6.4.4.1. BRAZIL

6.4.4.2. MEXICO

6.4.4.3. REST OF LATIN AMERICA

6.5. MIDDLE EAST AND AFRICA

6.5.1. MARKET BY TECHNOLOGY

6.5.2. MARKET BY SOURCE

6.5.3. MARKET BY END-USER

6.5.4. COUNTRY ANALYSIS

6.5.4.1. UNITED ARAB EMIRATES

6.5.4.2. TURKEY

6.5.4.3. SAUDI ARABIA

6.5.4.4. SOUTH AFRICA

6.5.4.5. REST OF MIDDLE EAST & AFRICA

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

List of table

TABLE 1. GLOBAL VIRTUAL POWER PLANT MARKET, BY GEOGRAPHY, 2019-2028 (IN $ MILLION)

TABLE 2. MARKET ATTRACTIVENESS INDEX

TABLE 3. VENDOR SCORECARD

TABLE 4. REGULATORY FRAMEWORK

TABLE 5. GLOBAL VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)

TABLE 6. GLOBAL VIRTUAL POWER PLANT MARKET, BY SOURCE, 2019-2028 (IN $ MILLION)

TABLE 7. GLOBAL VIRTUAL POWER PLANT MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 8. GLOBAL VIRTUAL POWER PLANT MARKET, BY GEOGRAPHY, 2019-2028 (IN $ MILLION)

TABLE 9. NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 10. NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)

TABLE 11. NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY SOURCE, 2019-2028 (IN $ MILLION)

TABLE 12. NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 13. EUROPE VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 14. EUROPE VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)

TABLE 15. EUROPE VIRTUAL POWER PLANT MARKET, BY SOURCE, 2019-2028 (IN $ MILLION)

TABLE 16. EUROPE VIRTUAL POWER PLANT MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 17. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 18. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)

TABLE 19. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY SOURCE, 2019-2028 (IN $ MILLION)

TABLE 20. ASIA-PACIFIC VIRTUAL POWER PLANT MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 21. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 22. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)

TABLE 23. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY SOURCE, 2019-2028 (IN $ MILLION)

TABLE 24. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 25. MIDDLE EAST AND AFRICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 26. MIDDLE EAST AND AFRICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)

TABLE 27. MIDDLE EAST AND AFRICA VIRTUAL POWER PLANT MARKET, BY SOURCE, 2019-2028 (IN $ MILLION)

TABLE 28. MIDDLE EAST AND AFRICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

List of Figures

FIGURE 1. PORTER’S FIVE FORCES ANALYSIS

FIGURE 2. KEY BUYING IMPACT ANALYSIS

FIGURE 3. INDUSTRY COMPONENTS

FIGURE 4. GLOBAL VIRTUAL POWER PLANT MARKET, BY DEMAND RESPONSE, 2019-2028 (IN $ MILLION)

FIGURE 5. GLOBAL VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED GENERATION, 2019-2028 (IN $ MILLION)

FIGURE 6. GLOBAL VIRTUAL POWER PLANT MARKET, BY MIXED ASSETS, 2019-2028 (IN $ MILLION)

FIGURE 7. GLOBAL VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED ENERGY GENERATION SYSTEM, 2019-2028 (IN $ MILLION)

FIGURE 8. GLOBAL VIRTUAL POWER PLANT MARKET, BY ENERGY STORAGE SYSTEM, 2019-2028 (IN $ MILLION)

FIGURE 9. GLOBAL VIRTUAL POWER PLANT MARKET, BY INDUSTRIAL, 2019-2028 (IN $ MILLION)

FIGURE 10. GLOBAL VIRTUAL POWER PLANT MARKET, BY COMMERCIAL, 2019-2028 (IN $ MILLION)

FIGURE 11. GLOBAL VIRTUAL POWER PLANT MARKET, BY RESIDENTIAL, 2019-2028 (IN $ MILLION)

FIGURE 12. GLOBAL VIRTUAL POWER PLANT MARKET, REGIONAL OUTLOOK, 2019 AND 2028 (IN %)

FIGURE 13. UNITED STATES VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 14. CANADA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 15. UNITED KINGDOM VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 16. GERMANY VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 17. FRANCE VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 18. SPAIN VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 19. ITALY VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 20. RUSSIA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 21. REST OF EUROPE VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 22. CHINA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 23. JAPAN VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 24. INDIA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 25. SOUTH KOREA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 26. ASEAN COUNTRIES VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 27. AUSTRALIA & NEW ZEALAND VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 28. REST OF ASIA PACIFIC VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 29. BRAZIL VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 30. MEXICO VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 31. REST OF LATIN AMERICA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 32. UNITED ARAB EMIRATES VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 33. TURKEY VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 34. SAUDI ARABIA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 35. SOUTH AFRICA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

FIGURE 36. REST OF MIDDLE EAST & AFRICA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)

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