Virtual Power Plant Market – 2019 Size, Growth, Share, Trends, Key Players, Regional Analysis With Global Industry Forecast To 2023
Virtual Power Plant Market 2019 Global Size, Growth Trends, And Regional Outlook to 2023 is latest report published by Market Research Future. Global Virtual Power Plant Market is to grow at healthy 22% CAGR by 2023. Global Virtual Power Plant Market by Technology (Distribution Generation, Demand Response, and Mixed Asset), End-User (Commercial, Industrial and Residential) and Region with Forecast To 2023.
Virtual Power Plant Key Players Analyzed in Report:
ABB Ltd. (Switzerland), Autogrid Systems, Inc. (U.S.), Blue Pillar, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Comverge (U.S.), Cpower Energy Management (U.S.), Enbala Power Networks, Inc. (Canada), Enernoc, Inc. (U.S.), Flexitricity Limited (U.K.), General Electric Company (U.S.), Hitachi, Ltd. (Japan), International Business Machines Corporation (U.S.), Robert Bosch GmbH (Germany), Schneider Electric SE (France), and Siemens AG (Germany).
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Virtual Power Plant Sector Highlights:
Market Research Future published research report on global Virtual Power Plants market. The Virtual Power Plants market is expected to grow at 22% CAGR during the period 2017 to 2023. The most recent virtual power plant concept has various definitions that agree upon the fact that the virtual power plant is an aggregation of distributed generation units of different technologies. This is required operate as a single power plant and can control the aggregated units and to manage the electrical energy flow between these units to obtain better operation of the system.
A virtual power plant is comprised of a fundamental IT control structure and distributed energy assets often renewable energy resources like solar, hydropower, wind and biomass units as well as flexible power consumers, by interacting all the partaking units via a remote-control unit. It then establishes a data transfer between the fundamental control system and the and the partaking units. The fundamental control system is then unable to monitor, forecast, and dispatch the networked units.
The global rise in the demand for renewable energy in the power generation sector is creating a lucrative market for virtual power plant. The dynamic changes in the power grids from centralized to distributed, also the reduced cost of the electricity and easy access to store energy in energy storage devices such as batteries is propelling the global virtual power plant market. However, the growing health concerns over the human exposure to high frequency of electromagnetic and radio waves is restraining the potential of market growth at different end-user level. Contrarily, the emerging shift toward electric automobiles and promotion of smart offices and buildings with smart grids, is expected to create an immense opportunity in the global virtual power plant market.
Global Virtual Power Plant Market Segments:
Global Virtual Power Plant market has been segmented based on technology, end-user, and region. Demand response segment by technology currently holds the largest share and is expected to hold its dominance in the virtual power plant market during the forecast period. Demand response is highly lucrative for investment due to everlasting benefits for end-users and improving the energy efficiency of the grid. Hence, demand response is expected to show high growth rate. However, the industrial, by end-user held the largest market share in 2016 and is expected to hold the largest share over the forecast period. Industrial end-users are among the highest adopters of the virtual power plant setups and services and thus provide great contribution to the market expansion. The peak load of the electricity is the highest in various industries such as petroleum, paper & pulp, and chemical among others, which has created a productive market for virtual power plant in industrial sector.
Global Virtual Power Plant Sector Regional Overview:
The growth of virtual power plant market is driven by various factors in regions, across the globe. The major factor boosting the market growth is the growing demand for power through a reliable power source is expected to drive the global industry over the forecast period. Virtual power plant helps in delivering energy peak usage times and the end-users can save up the excess energy in the energy storage devices such as batteries. Also, the growing government mandates and initiatives for customer engagement, and incentives programs might prove to be an added boost for the end-user segment. The global rise in the demand for non-conventional energy in the power generation sector, changes in dynamics of power grids from centralized to distributed and regulating costs and easy convenience of energy storage drive the development of the virtual power plant market. The phenomenal growth in the construction industry, exclusively in the Asia Pacific region is expected to propel the overall virtual power plant market during the forecast period.
TABLE OF CONTENTS:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Virtual Power Plant Market, By Technology
Continued…
List Of Tables:
Table 1 Global Virtual Power Plant Market: By Region, 2017-2023
Table 2 North America Virtual Power Plant Market: By Country, 2017-2023
Table 3 Europe Virtual Power Plant Market: By Country, 2017-2023
Table 4 Asia Pacific Virtual Power Plant Market: By Country, 2017-2023
Table 5 RoW Virtual Power Plant Market: By Country, 2017-2023
Table 6 Global Virtual Power Plant Market, By Technology, By Regions, 2017-2023
Continued…
LIST OF FIGURES:
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
Continued…
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