Virtual Power Plant (VPP) Market Growing at a Highest CAGR of 32.89% with Top Players - Siemens, Schneider Electric, Shell, Tesla, ABB and More

Virtual Power Plant (VPP) Market research report, can gain vital information about organizations, the competitors, economic shifts, demographics, current market trends and spending traits of the customers. This global market report puts real world research solutions for every industry sector. The report comprises of the scope, size, disposition and growth of the industry including the key sensitivities and success factors.

The Global Virtual Power Plant (VPP) Market is forecast to reach USD 5.5 billion by 2030 from an estimated USD 1.9 billion in 2024, at a CAGR of 32.89% during the forecast period to 2030. The rise in the demand for decarbonization of power distribution systems, and need to mitigate impact of intermittent renewable sources is driving the market.

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Increasing investments in expanding generation capacity positively influence the market growth for virtual power plants. As the capacity of a virtual power plant grows, it can achieve economies of scale and reduce the cost per unit of energy managed. A larger virtual power plant can offer a wider range of grid services, such as frequency regulation, voltage support, and peak shaving. These services not only generate additional revenue for the virtual power plant but also contribute to grid stability, reducing the need for costly grid infrastructure upgrades.

Top Competitors of Virtual Power Plant (VPP) Market:

SPECTROLAB (US),
AZUR SPACE Solar Power GmbH (Germany),
ROCKET LAB USA (US),
Sharp Corporation (Japan),
CESI S.p.A (Italy),
Thales Alenia Space (France),
AIRBUS (France),
Mitsubishi Electric Corporation (Japan),
Northrop Grumman (US),
MicroLink Devices, Inc. (US) and More

Virtual Power Plant (VPP) Market by Segmentations:

By Applications:

Rovers
Space Stations
Satellite
Others

By Material Types:

Copper Indium Gallium Selenide (CIGS)
Gallium Arsenide (GaAs)
Silicon
Other Material Types

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KEY INDUSTRY DEVELOPMENTS:

Tesla announced plans to launch phase 3 of its massive virtual power plant in South Australia and confirmed connecting almost 4,000 homes with Powerwalls and solar connected to the system.

Siemens has developed a business model to support the energy optimization for Finnish brewery Sinebrychoff, a subsidiary of the international Carlsberg Group.

Market Dynamics

Driver: Rising Space Exploration and Satellite Deployment

The rising tide of space exploration and satellite deployment is a major driver of the satellite solar cell materials market. A 2023 blog published by the Union of Concerned Scientists stated, in 2022, the global count of operational satellites orbiting Earth reached 6,718, signifying a remarkable surge of nearly 2,000 satellites within a single year.

Opportunity: Increasing Investment in Space based Infrastructure

Increased investment in space-based infrastructure creates a substantial opportunity for the satellite solar cell materials market. NewSpace India Limited (NSIL) has unveiled plans for a substantial USD 1.2 billion investment over the coming five years, aiming to bolster industry participation and foster commercial ventures within the sector.

Key Topics Covered:

1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Virtual Power Plant Market, by Technology
7 Virtual Power Plant Market, by Vertical
8 Virtual Power Plant Market, by Offering
9 Virtual Power Plant Market, by Source
10 Virtual Power Plant Market, by Region
11 Competitive Landscape
12 Company Profiles

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This release was published on openPR.