Global Virtual Power Plant (VPP) Market To Record Protruding Growth With US$ 6,470.0 Million By 2028

April 2021 | Report Format: Electronic (PDF)

Rapid industrialization and urbanization, together with rising digitization, are profoundly altering the consumption and production of commodities, as well as the production and use of energy. These elements are impacting electricity generation, distribution, and consumption, resulting in power grid change. Furthermore, technical improvements, supporting regulations, developing business models, and cost savings have accelerated the transition from traditional to smart electricity grids with two-way data and energy flow.

The electricity sector has evolved as the leading light of growth on a local and national scale. The need for utility grid has resulted in the implementation of upgraded systems throughout the sector. The overall volume of sales in the worldwide VPP market is expected to rise in the coming years. The demand for more performance and agility in the power industry will usher in a new age of growth for the worldwide VPP market. Power is in high demand in the commercial, residential, and industrial sectors. This element has been critical in the implementation of virtual power plants in a number of places.

Asia Pacific is expected to increase its share of the global VPP market. Renewable energy's vast potential, along with rapidly increasing commercial and residential sectors, is expected to contribute to regional market growth. Energy consumption is exorbitant in emerging economies such as India and China.

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Virtual Power Plant (VPP) Market Report Highlights

• September 2020 - Tesla revealed plans to build phase 3 of its huge VPP in South Australia, linking over 4,000 households with Powerwalls and solar to the system.
• November 2020 - Siemens has created a business strategy to help Finnish brewery Sinebrychoff, a unit of the multinational Carlsberg Group, optimize its energy use. These solutions would be deployed at Sinebrychoff's factory in greater Helsinki, including a VPP and cutting-edge energy storage devices, as well as financing options. It makes use of digitization to increase the possibility of saving money and enhancing the power quality supply.

VPP MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Virtual Power Plant (VPP) Technology Outlook (Revenue, USD Million, 2017 - 2028)

• Distribution Generation
• Demand Response
• Mixed Asset

Virtual Power Plant (VPP) Application Outlook (Revenue, USD Million, 2017 - 2028)

• Industrial
• Commercial
• Residential

Virtual Power Plant (VPP) Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa

List of Key Players- Virtual Power Plant (VPP) Market

• Siemens
• Schneider Electric
• Next Kraftwerke
• Mitsubishi Heavy Industries
• IBM
• Hitachi, Ltd.
• General Electric
• Enel X
• Enbala Power Networks, Inc.
• Cisco Systems, Inc.
• Bosch
• Blue Pillar, Inc.
• AutoGrid Systems, Inc.
• AGL Energy
• ABB

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