Global Virtual Power Plant Market Analysis and Path Report 2021: The US market is estimated to be worth $ 269.7 million in 2021, while China is expected to reach $ 78.9 million by 2026


DUBLIN, October 07, 2021– (COMMERCIAL THREAD)–The “Virtual Power Plants – Global Market Trajectory and Analysis” report was added to ResearchAndMarkets.com offer.

Global Virtual Power Plant Market To Reach $ 1.5 Billion By 2026

With traditional utilities stretched to breaking point due to rapid population growth, urbanization and the demands of the digital age, the energy transformation is gaining momentum with next-generation concepts like power plants. virtual electrics. Virtual power plants are gaining more and more attention in the energy sector because of their clear advantages over conventional options.

These plants are cloud-based distributed power systems capable of integrating different power sources to improve power generation while ensuring reliable power supply. Virtual power plants facilitate the sale and trading of energy in the electricity market.

Virtual power plants are expected to leap forward and become a full component of the power sector in the coming years, as they allow aggregators and utility companies to interconnect power generation from from different sources and distributed power plants. The relevance of these plants is expected to increase considerably due to the changing energy landscape and the importance of the decentralized grid.

Amid the COVID-19 crisis, the global virtual power plant market, estimated at US $ 413.5 million in 2020, is expected to reach a revised size of US $ 1.5 billion by 2026, with a 24% CAGR over the analysis period. Demand response, one of the segments analyzed in the report, is expected to grow at a 23.8% CAGR to $ 1.5 billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the distributed generation segment is readjusted to a revised CAGR of 22.3% for the next 7-year period. This segment currently represents a 14.9% share of the global virtual power plant market.

Demand response (DR), also known as demand response or load response, encompasses a wide range of manual and automated actions taken on the consumer side of the meter to change electricity consumption in response to imbalances between the meter. demand and supply of electricity or at unusually high electricity prices. .

Future market growth will be driven by the increasing demand for Automated Demand Response (Auto-DR) technologies. Distributed generation systems are capable of producing electricity or heat and power combined and are suitable for versatile applications such as continuous, peak, intermittent or standby power supply. Favorable government policy changes, incentives and subsidies catalyze the growth of decentralized production systems.

The US market is estimated at $ 269.7 million in 2021, while China is expected to reach $ 78.9 million by 2026

The virtual power plant market in the United States is estimated at US $ 269.7 million in 2021. The country currently accounts for a 58.22% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 78.9 million in 2026, with a CAGR of 30.6% during the analysis period.

Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 19.1% and 23.4% respectively over the period of analysis. In Europe, Germany is expected to grow by around 23.9% CAGR while the rest of the European market (as defined in the study) will reach $ 101.3 million by the end of the analysis period. .

Asia-Pacific continues to experience strong growth as several areas, especially in rural and remote areas of developing economies, still do not have access to the power grid or have limited or unreliable power supplies. The growing trend towards rural electrification, rapid industrialization and increasing demand for quality and reliable electricity from energy-intensive industries are driving growth in the region.

The enormous vacuum created by the shutdowns of power plants in the developed economies of North America and Western Europe, and the ever-increasing needs for electrical energy in populated emerging economies, opens up new opportunities for the production of electricity. distributed electricity.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Growing investments in energy infrastructure: the cornerstone of market growth

  • The race between the virus and vaccines is intensifying. In the midst of this chaotic battle, where is the global economy heading in 2021?

  • These are times when questions abound and answers are scarce

  • So how fast or slowly are we moving?

  • India’s second wave makes clear that fairness is not part of global COVID policy

  • Progress on vaccinations, why should companies care?

  • With IMF’s Upward Revision of Global GDP Forecast for 2021, Most Companies Are Optimistic on Global Economic Return

  • A look back at 2020 as the worst year in human history that left the world in shambles and industries and markets in turmoil

  • How is the energy industry affected by the pandemic and what is the new normal?

  • Beyond the current challenges, the pandemic will fuel our energy transition

  • Virtual power plants (VPP): meaning, importance, operation and benefits

  • Recent market activity

  • New arrivals

2. FOCUS ON CERTAIN PLAYERS (40 in total)

  • ABB

  • Siemens

  • Schneider Electric

  • Automatic grid

  • Next Kraftwerke

  • AGL Energy

  • Enel X

  • General Electric

  • Blue Pillar, Inc.

  • Cisco Systems, Inc.

  • Enbala Power Networks, Inc.

  • Hitachi, Ltd.

  • Robert Bosch GmbH

  • International Business Machines Corporation

3. MARKET TRENDS AND FACTORS

  • Distributed energy production: a key objective of energy transformation and a basis for the rise of the concept of virtual power plants (VPP)

  • Role of Virtual Power Plants (VPPs) in a Decentralized Power Grid

  • Growing Value of Demand Response (DR) emphasizes VPPs as an effective tool to achieve DR goals

  • The rise of smart cities and smart grids bodes well for increased investments in VPPs

  • Smart cities get a COVID-19 boost

  • Smart Grid: A Critical Part of Energy Infrastructure in Smart Cities and a Strong Business Case for VPPs

  • Growing Digitization of Energy to Further Boost VPP Rise

  • COVID-19 accelerates the digital revolution in all sectors

  • Special focus on the digitization of energy

  • Optimal management of renewable energy sources highlights VPPs

  • The concept of decentralized blockchain-based virtual power plants is gaining momentum and prominence

  • Increase in energy trade to benefit market growth

4. WORLD MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETETION

For more information on this report, visit https://www.researchandmarkets.com/r/wosmgw

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211007005671/en/

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