Press release
Virtual Power Plant Market Outlook, Opportunity and Demand Analysis Report by 2027
Rise in demand for renewable energy in the power generation sector, changes in preference of power grids from centralized to distributed grids, and moderate costs and easy accessibility of energy storage drive the growth of the global virtual power plant market. However, complex design structure and health concerns due to exposure of high-frequency of electromagnetic and radio waves hinder the market growth. On the other hand, shift towards electric vehicles and promotion of intelligent office buildings and smart grids create new opportunities in the coming years.
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Proliferating demand for renewable energy in power generation sector coupled with changes in dynamics of power grids from centralized to distributed is expected to drive the market growth. In addition, VPP is more efficient and flexible to deliver the peak load electricity in a short notice period compared to conventional power plant set up that will further drive the market growth. However, high-frequency human exposure of electromagnetic and radio waves leads to health concerns, which may hamper the market growth.
Based on technology, the demand response segment contributed to the largest share in 2019, accounting for more than three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the mixed asset segment is expected to register the highest CAGR of 23.1% from 2020 to 2027.
The research offers a detailed segmentation of the global Virtual Power Plant market. Key segments analyzed in the research include Technology, End-User and geography. Extensive analysis of sales, revenue, growth rate, and market share of each segment, and geography for the historic period and the forecast period is offered with the help of tables.
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Based on region, Europe contributed the highest share, accounting for more than half of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 26.5% from 2020 to 2027.
The market player positioning segment provides an understanding of the current position of the market players active in the Virtual Power Plant industry.
The research offers an extensive analysis of key players active in the global Virtual Power Plant industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include ABB Ltd., AGL Energy, AutoGrid Systems, Inc., Enbala Power Networks, Enel X Inc., General Electric Company, Siemens AG, Schneider Electric SE, Limejump Ltd., and others. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
Get detailed COVID-19 impact analysis on the Virtual Power Plant Market: https://www.alliedmarketresearch.com/request-for-customization/4154?reqfor=covid
Covid-19 scenario:
• Virtual power plants have been impacted negatively due to the restrictions on residential and commercial projects in the construction industry during the few months of the coronavirus pandemic.
• The installation of new virtual power plants has been postponed during the Covid-19 pandemic to avoid social gathering and control the transmission of virus.
Key offerings of the report:
• Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
• Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
• Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
• Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
• Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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