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A virtual power plant (VPP) is a cloud-based distributed power plant that aggregates the capacities of heterogeneous distributed energy resources (DER) for the purposes of enhancing power generation, as well as trading or selling power on the electricity market.
A Virtual Power Plant (VPP) is an aggregated portfolio of Distributed Energy Resources and Controllable Loads into energy blocks which can be used to participate in Energy Markets and offer Services to the System Operator.
In this report, what is included in our statistics is the market size of virtual power plant technology service providers.
LPI (LP Information)' newest research report, the "Virtual Power Plant (VPP) Industry Forecast" looks at past sales and reviews total world Virtual Power Plant (VPP) sales in 2022, providing a comprehensive analysis by region and market sector of projected Virtual Power Plant (VPP) sales for 2023 through 2029. With Virtual Power Plant (VPP) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Virtual Power Plant (VPP) industry.
This Insight Report provides a comprehensive analysis of the global Virtual Power Plant (VPP) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Virtual Power Plant (VPP) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Virtual Power Plant (VPP) market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Virtual Power Plant (VPP) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Virtual Power Plant (VPP).
The global Virtual Power Plant (VPP) market size is projected to grow from US$ 590.5 million in 2022 to US$ 2411.4 million in 2029; it is expected to grow at a CAGR of 22.3% from 2023 to 2029.
Global core virtual power plant (VPP) manufacturers include Ørsted, Duke Energy and RWE etc. The top 5 companies hold a share about 65%. Europe is the largest market, with a share about 52%, followed by Asia Pacific and North America with the share about 25% and 18%.In terms of product, FM model is the largest segment, with a share about 55%. And in terms of application, the largest application is commercial, followed by residential.
This report presents a comprehensive overview, market shares, and growth opportunities of Virtual Power Plant (VPP) market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
- OC Model
- FM Model
Segmentation by application
- Commercial
- Industrial
- Residential
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Ørsted
- Duke Energy
- RWE
- Enbala
- Bosch
- GE Digital Energy
- EnerNOC
- Schneider Electric(AutoGrid)
- Siemens
- Viridity Energy