The global virtual power plant market is classified on the basis of technology, and end-user. Based on technology, the global virtual power plant market is further segmented into distribution generation, demand response, and mixed asset. The demand response segment is estimated to have considerable market share in the global virtual power plant market due to various advantages such as load management. Based on the end-user, the global virtual power plant market is further classified into residential & non-residential. The residential segment is estimated to have significant market growth due to the rising trend of demand response programs, energy storage system and distributed generation in residential applications.
Moreover, the global virtual power plant market further classified on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. North America is estimated to have a significant market share in the global virtual power plant market due to rising demand for virtual plants sytems in the residential and non-residential sectors (commercial and industrial). Moreover, Asia-Pacific has considerable market growth in the global virtual power plant market owing to the rising demand for energy generation in emerging economies such as India, China, and others.
Some of the players that contribute to the growth of the global virtual power plant market include ABB, Ltd., Cisco Systems, Inc., General Electric Co., Hitachi, Ltd., IBM Corp., Robert Bosch GmbH, Siemens AG, Spirae, LLC, Autogrid Systems, Inc., Toshiba Corp., and others. These market players are contributing to the market by adopting various market approaches including product launch & approvals, merger and acquisition, partnerships, and collaborations for gaining a strong position in the market. For instance, in May 2019, Siemens AG announced the expantion of the green energy potential by the virtual power plant. The company introduced a new virtual power plant service to expand its virtual power plant activities that enable the company to sustain a strong position in the market.
Research Methodology:
The market study of the global virtual power plant market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary Sources Include:
- Financial reports of companies involved in the market
- Whitepapers, research-papers, and news blogs
- Company websites and their product catalogue
The report is intended for virtual power plant systems providers, Distributed Energy Generation Solution Providers, government, and private organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
- Global virtual power plant Market Research and Analysis, By Technology
- Global virtual power plant Market Research and Analysis, By End-User
The Report covers:
- Comprehensive research methodology of the global virtual power plant market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global virtual power plant market.
- Insights about market determinants which are stimulating the global virtual power plant market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
