Global Virtual Power Plant Market Overview:
Due to upsurging demand for renewable resources will help to drive global virtual power plant market in the forecasted period. Virtual power plants (VPP) is referred to as a cloud-based distributed power plant. VPP aggregates the capabilities of heterogeneous distributed energy resources (DER) for improving power generation, and selling power or trading on the electricity. It does not physically exist. Virtual power plants (VPP) are clusters of distributed generator units, controllable loads, and energy storages systems, gathered to work as an integrated power plant. Additionally, it is a network of medium-scale, decentralized power generating units same as Joint Heat and Power (CHP) units, solar plants and wind farms as well as flexible power consumers and batteries. Some of the key players profiled in the study are ABB Ltd. (Switzerland), AGL Energy (Australia), AutoGrid Systems, Inc. (United States), Comverge, Inc. (United States), Enbala Power Networks (Canada), General Electric Company (United States), Siemens AG (Germany), Schneider Electric SE (France), Limejump Ltd. (United Kingdom), EnerNOC, Inc. (United States), Advanced Microgrid Solutions (United States) and Bosch Software Innovations GmbH (Germany).
On the basis of geography, the market of Virtual Power Plant has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. Distribution Generation will boost the Virtual Power Plant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Commercial will boost the Virtual Power Plant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Shift From Centralized to Distributed Generation
- Moderating Costs and Easy Accessibility of Energy Storage
- Growing Share of Renewable Energy in the Power Generation
- Fast Growing Power Sector in Developing Countries
- Rising Safety Concern Regarding Electromagnetic Frequency As Well As Radio Waves
- Emerging Shift towards Electrical Vehicles
- Enlargement of Intelligent Office Buildings and Smart Grids
- Cybersecurity Concerns Related With the Energy Sector
Major Market Developments:
On 17th December 2018, Hitachi has announced that they are going to acquired Swiss firm ABB's power grid business. The deal is initially investing 6.4 billion dollars for an 80.1 percent stake before a complete takeover in the future. and On 10th December 2018, AGL Energy has selected Enbala to offer the cloud-based control and optimization platform for it's Virtual Power Plant (VPP) project which is being built in South Australia.
On 13th March 2018, ABB has launched its comprehensive and market-leading portfolio of solutions for virtual power plants for the Japanese market at the Thermal Power Expo in Tokyo.
Distributed Energy Generation Solution Providers, Micro Grid Developers, Raw Material Suppliers, Energy Regulatory Agencies, Smart Grid Hardware, Software & Technology Vendors And Service Providers, Traders, Distributors, And Suppliers, Industry Associations And Experts, Industry Associations, Government And Private Research Organization, Government Regulatory Bodies and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Virtual Power Plant market on the basis of product [Centralized Controlled VPP and Decentralized Controlled VPP] , application [Defense, Government and Commercial], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Virtual Power Plant market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Virtual Power Plant industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Green Charge Networks LLC (United States), Power Analytics Corp. (United States) and Spirae LLC (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Virtual Power Plant market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.