Virtual Power Plant Market Research Report- Forecast to 2023

Virtual Power Plant Market Research Report- Forecast to 2023

ID: MRFR/E&P/4134-HCRR | September, 2018 | Region: Global | 111 pages | Half-Cooked Research Reports

Global Virtual Power Plant Market Report by Technology (Distribution Generation, Demand Response, and Mixed Asset), by End-User (Commercial, Industrial and Residential) and by Region - Global Forecast to 2023.


Market Scenario:


A virtual power plant is a network of medium-scale, decentralized power generating units same as Combined Heat and Power (CHP) units, solar plants and wind farms as well as flexible power consumers and batteries. The unified units are dispatched through the principal control room of the virtual power plant but stays self-governing in their process and possession. The prime objective of the virtual power plant is to release the load on the grid by rapidly dispensing the power produced by the individual units during the peak load. Additionally, the combined power generation and power consumption of the interacted units in the virtual power plant is merchandised on the energy interchange platforms.


A virtual power plant is comprised of a fundamental IT control structure and distributed energy assets often renewable energy resources like solar, hydropower, wind and biomass units as well as flexible power consumers, by interacting all the partaking units via a remote control unit. It then establishes a data transfer between the fundamental control system and the and the partaking units. The fundamental control system is then unable to monitor, forecast, and dispatch the networked units.


Virtual power plants aim at the smoothly integrating a large number of non-conventional energy units into the existing central energy systems. It occurs through flexibility coming from all networked units. Moreover, the power vendors within a virtual power plant setup can use live data to enhance projecting and trading of renewable energies. As a result, virtual power plants progressively take over the role of the conventional power plants by selling their output on the wholesale markets and assuming authority for a balanced grid.  


Global Virtual Power Plant market has been segmented based on technology, end-user, and region. Demand response segment by technology currently holds the largest share and is expected to hold its dominance in the virtual power plant market during the forecast period. Demand response is highly lucrative for investment due to everlasting benefits for end-users and improving the energy efficiency of the grid. Hence, demand response is expected to show high growth rate. However, the Industrial by end-user held the largest market share in 2016 and is expected to have the largest share over the forecast period. Industrial end-users are among the highest adopters of the virtual power plant setups and services and thus provide great contribution to the market expansion. The peak load of the electricity is the highest in various industries such as petroleum, paper & pulp, and chemical among others, which has created a productive market for virtual power plants in the industrial sector.


The industry is expected to have a huge number of technological advancement over the forecast period owing to rigorous developments in power sector coupled with growing consumer preferences for uninterruptible power supply. The market is also expected to have high expansion activities by multinationals and well-established companies. Mergers and acquisition activities are expected to be seen over the forecast period.


The global virtual power plant market is expected to grow at ~ 22% CAGR during the forecast period.


Market Segmentation


 Virtual Power Plant


Global Virtual Power Plant Market


The growth of virtual power plant market is driven by various factors in regions, across the globe. The major factor boosting the market growth is the growing demand for power through a reliable power source is expected to drive the global industry over the forecast period. Virtual power plant helps in delivering energy peak usage times and the end-users can save up the excess energy in the energy storage devices such as batteries. Also the growing government mandates and initiatives for customer engagement, and incentives programs might prove to be an added boost for the end-user segment. The global rise in the demand for non-conventional energy in the power generation sector, changes in dynamics of power grids from centralized to distributed, and regulating costs and easy convenience of energy storage drive the development of the virtual power plant market. The phenomenal growth in the construction industry, exclusively in the Asia Pacific region is expected to propel the overall virtual power plant market during the forecast period.


Key Players


The key players of global Virtual Power Plant market are ABB Ltd. (Switzerland), Autogrid Systems, Inc. (U.S.), Blue Pillar, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Comverge (U.S.), Cpower Energy Management (U.S.), Enbala Power Networks, Inc. (Canada), Enernoc, Inc. (U.S.), Flexitricity Limited (U.K.), General Electric Company (U.S.), Hitachi, Ltd. (Japan), International Business Machines Corporation (U.S.), Robert Bosch GmbH (Germany), Schneider Electric SE (France), and Siemens AG (Germany).

Table of Contents





1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model



3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Threat of substitutes

3.1.4 Segment rivalry

3.1.5 Bargaining Power of Buyers

3.2 Value Chain/Supply Chain Analysis



4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends



5 Global Virtual Power Plant Market, By Technology

5.1 Introduction

5.2 Engine oil

5.2.1 Market Estimates & Forecast, 2017-2023

5.2.2 Market Estimates & Forecast by Region, 2017-2023

5.3 Demand Response

5.3.1 Market Estimates & Forecast, 2017-2023

5.3.2 Market Estimates & Forecast by Region, 2017-2023

5.4 Distribution Generation

5.4.1 Market Estimates & Forecast, 2017-2023

5.4.2 Market Estimates & Forecast by Region, 2017-2023

5.5 Mixed Asset

5.5.1 Market Estimates & Forecast, 2017-2023

5.5.2 Market Estimates & Forecast by Region, 2017-2023



6 Global Virtual Power Plant Market, By End-User

6.1 Introduction

6.2 Commercial

6.2.1 Market Estimates & Forecast, 2017-2023

6.2.2 Market Estimates & Forecast by Region, 2017-2023

6.3 Industrial

6.3.1 Market Estimates & Forecast, 2017-2023

6.3.2 Market Estimates & Forecast by Region, 2017-2023

6.4 Residential

6.4.1 Market Estimates & Forecast, 2017-2023

6.4.2 Market Estimates & Forecast by Region, 2017-2023



7 Global Virtual Power Plant Market, By Region

7.1 Introduction

7.2 North America

7.2.1 Market Estimates & Forecast, 2017-2023

7.2.2 Market Estimates & Forecast By Technology, 2017-2023

7.2.3 Market Estimates & Forecast By End-User , 2017-2023

7.2.5 The U.S

7.2.5.1 Market Estimates & Forecast, 2017-2023

7.2.5.2 Market Estimates & Forecast By Technology, 2017-2023

7.2.5.3 Market Estimates & Forecast By End-User , 2017-2023

7.2.6 Canada

7.2.6.1 Market Estimates & Forecast, 2017-2023

7.2.6.2 Market Estimates & Forecast By Technology, 2017-2023

7.2.6.3 Market Estimates & Forecast By End-User , 2017-2023

7.3 Europe

7.3.1 Market Estimates & Forecast, 2017-2023

7.3.2 Market Estimates & Forecast By Technology, 2017-2023

7.3.3 Market Estimates & Forecast By End-User , 2017-2023

7.3.5 U.K

7.3.5.1 Market Estimates & Forecast, 2017-2023

7.3.5.2 Market Estimates & Forecast By Technology, 2017-2023

7.3.5.3 Market Estimates & Forecast By End-User , 2017-2023

7.3.6 Germany

7.3.6.1 Market Estimates & Forecast, 2017-2023

7.3.6.2 Market Estimates & Forecast By Technology, 2017-2023

7.3.6.3 Market Estimates & Forecast By End-User , 2017-2023

7.3.7 France

7.3.7.1 Market Estimates & Forecast, 2017-2023

7.3.7.2 Market Estimates & Forecast By Technology, 2017-2023

7.3.7.3 Market Estimates & Forecast By End-User , 2017-2023

7.3.8 Italy

7.3.8.1 Market Estimates & Forecast, 2017-2023

7.3.8.2 Market Estimates & Forecast By Technology, 2017-2023

7.3.8.3 Market Estimates & Forecast By End-User , 2017-2023

7.3.9 Rest of Europe

7.3.9.1 Market Estimates & Forecast, 2017-2023

7.3.9.2 Market Estimates & Forecast By Technology, 2017-2023

7.3.9.3 Market Estimates & Forecast By End-User , 2017-2023

7.4 Asia Pacific

7.4.1 Market Estimates & Forecast, 2017-2023

7.4.2 Market Estimates & Forecast By Technology, 2017-2023

7.4.3 Market Estimates & Forecast By End-User , 2017-2023

7.4.5 China

7.4.5.1 Market Estimates & Forecast, 2017-2023

7.4.5.2 Market Estimates & Forecast By Technology, 2017-2023

7.4.5.3 Market Estimates & Forecast By End-User , 2017-2023

7.4.6 Japan

7.4.6.1 Market Estimates & Forecast, 2017-2023

7.4.6.2 Market Estimates & Forecast By Technology, 2017-2023

7.4.6.3 Market Estimates & Forecast By End-User , 2017-2023

7.4.7 India

7.4.7.1 Market Estimates & Forecast, 2017-2023

7.4.7.2 Market Estimates & Forecast By Technology, 2017-2023

7.4.7.3 Market Estimates & Forecast By End-User , 2017-2023

7.4.7 Rest of Asia Pacific

7.4.7.1 Market Estimates & Forecast, 2017-2023

7.4.7.2 Market Estimates & Forecast By Technology, 2017-2023

7.4.7.3 Market Estimates & Forecast By End-User , 2017-2023

7.5 Rest of the World

7.5.1 Market Estimates & Forecast, 2017-2023

7.5.2 Market Estimates & Forecast By Technology, 2017-2023

7.5.3 Market Estimates & Forecast By End-User , 2017-2023

8 Competitive Landscape



9 Company Profile

9.1 ABB Ltd. (Switzerland)

9.1.1 Company Overview

9.1.2 Products/Services Offering

9.1.3 Financial Overview

9.1.4 Key Developments

9.1.5 Strategy

9.1.6 SWOT Analysis

9.2 Autogrid Systems, Inc. (U.S.)

9.2.1 Company Overview

9.2.2 Products/Services Offering

9.2.3 Financial Overview

9.2.4 Key Developments

9.2.5 Strategy

9.2.6 SWOT Analysis

9.3 Blue Pillar, Inc. (U.S.)

9.3.1 Company Overview

9.3.2 Products/Services Offering

9.3.3 Financial Overview

9.3.4 Key Developments

9.3.5 Strategy

9.3.6 SWOT Analysis

9.4 Cisco Systems, Inc. (U.S.)

9.4.1 Company Overview

9.4.2 Products/Services Offering

9.4.3 Financial Overview

9.4.4 Key Developments

9.4.5 Strategy

9.4.6 SWOT Analysis

9.5 Comverge (U.S.)

9.5.1 Company Overview

9.5.2 Products/Services Offering

9.5.3 Financial Overview

9.5.4 Key Developments

9.5.5 Strategy

9.5.6 SWOT Analysis

9.6 Cpower Energy Management (U.S.)

9.6.1 Company Overview

9.6.2 Products/Services Offering

9.6.3 Financial Overview

9.6.4 Key Developments

9.6.5 Strategy

9.6.6 SWOT Analysis

9.7 Enbala Power Networks, Inc. (Canada)

9.7.1 Company Overview

9.7.2 Products/Services Offering

9.7.3 Financial Overview

9.7.4 Key Developments

9.7.5 Strategy

9.7.6 SWOT Analysis

9.8 Enernoc, Inc. (U.S.)

9.8.1 Company Overview

9.8.2 Products/Services Offering

9.8.3 Financial Overview

9.8.4 Key Developments

9.8.5 Strategy

9.8.6 SWOT Analysis

9.9 Flexitricity Limited (U.K.)

9.9.1 Company Overview

9.9.2 Products/Services Offering

9.9.3 Financial Overview

9.9.4 Key Developments

9.9.5 Strategy

9.9.6 SWOT Analysis

9.10 General Electric Company (U.S.)

9.10.1 Company Overview

9.10.2 Products/Services Offering

9.10.3 Financial Overview

9.10.4 Key Developments

9.10.5 Strategy

9.10.6 SWOT Analysis

9.11 Hitachi, Ltd. (Japan)

9.11.1 Company Overview

9.11.2 Products/Services Offering

9.11.3 Financial Overview

9.11.4 Key Developments

9.11.5 Strategy

9.11.6 SWOT Analysis

9.12 International Business Machines Corporation (U.S.)

9.12.1 Company Overview

9.12.2 Products/Services Offering

9.12.3 Financial Overview

9.12.4 Key Developments

9.12.5 Strategy

9.12.6 SWOT Analysis

9.13 Robert Bosch GmbH (Germany)

9.13.1 Company Overview

9.13.2 Products/Services Offering

9.13.3 Financial Overview

9.13.4 Key Developments

9.13.5 Strategy

9.13.6 SWOT Analysis

9.14 Schneider Electric SE (France)

9.14.1 Company Overview

9.14.2 Products/Services Offering

9.14.3 Financial Overview

9.14.4 Key Developments

9.14.5 Strategy

9.14.6 SWOT Analysis

9.15 Siemens AG (Germany)

9.15.1 Company Overview

9.15.2 Products/Services Offering

9.15.3 Financial Overview

9.15.4 Key Developments

9.15.5 Strategy

9.15.6 SWOT Analysis



List of Tables



Table 1 Global Virtual Power Plant Market: By Region, 2017-2023

Table 2 North America Virtual Power Plant Market: By Country, 2017-2023

Table 3 Europe Virtual Power Plant Market: By Country, 2017-2023

Table 4 Asia Pacific Virtual Power Plant Market: By Country, 2017-2023

Table 5 RoW Virtual Power Plant Market: By Country, 2017-2023

Table 6 Global Virtual Power Plant Market, By Technology, By Regions, 2017-2023

Table 7 North America Virtual Power Plant Market, By Technology, By Country, 2017-2023

Table 8 Europe Virtual Power Plant Market, By Technology, By Country, 2017-2023

Table 9 Asia Pacific Virtual Power Plant Market By Technology, By Country, 2017-2023

Table 10 RoW Virtual Power Plant Market By Technology, By Country, 2017-2023

Table 11 Global Vitrified Tiles By End-User Market: By Regions, 2017-2023

Table 12 North America Virtual Power Plant Market By End-User : By Country, 2017-2023

Table 13 Europe Virtual Power Plant Market By End-User : By Country, 2017-2023

Table 14 Asia Pacific Virtual Power Plant Market By End-User : By Country, 2017-2023

Table 15 RoW Virtual Power Plant Market By End-User : By Country, 2017-2023

Table 16 Global Virtual Power Plant Market: By Region, 2017-2023

Table 17 Global Virtual Power Plant Market: By Technology, 2017-2023

Table 18 Global Virtual Power Plant Market: By End-User , 2017-2023

Table 19 North America Virtual Power Plant Market, By Country

Table 20 North America Virtual Power Plant Market, By Technology

Table 21 North America Virtual Power Plant Market, By End-User

Table 22 Europe: Virtual Power Plant Market, By Country

Table 23 Europe: Virtual Power Plant Market, By Technology

Table 24 Europe: Virtual Power Plant Market, By End-User

Table 25 Asia-Pacific: Virtual Power Plant Market, By Country

Table 26 Asia-Pacific: Virtual Power Plant Market, By Technology

Table 27 Asia-Pacific: Virtual Power Plant Market, By End-Use r

Table 28 RoW: Virtual Power Plant Market, By Region

Table 29 RoW Virtual Power Plant Market, By Technology

Table 30 RoW Virtual Power Plant Market, By End-User





List of Figures





FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 Market Dynamics

FIGURE 4 impact analysis: market drivers

FIGURE 5 impact analysis: market restraints

FIGURE 6 porter’s five forces analysis

FIGURE 7 Value chain analysis

FIGURE 8 Global Virtual Power Plant Market SHARE, By Technology, 2016 (%)

FIGURE 9 Global Virtual Power Plant Market, By Technology, 2015-2023 (USD MILLION)

FIGURE 10 Global Virtual Power Plant Market SHARE, By End-User , 2016 (%)

FIGURE 11 Global Virtual Power Plant Market, By End-User , 2015-2023 (USD MILLION)

FIGURE 12 Global Virtual Power Plant Market SHARE (%), BY REGION, 2016

FIGURE 13 Global Virtual Power Plant Market, BY REGION, 2015-2023 (USD MILLION)

FIGURE 14 North America Virtual Power Plant Market SHARE (%), 2016

FIGURE 15 North America Virtual Power Plant Market BY Country, 2015-2023 (USD MILLION)

FIGURE 16 Europe Virtual Power Plant Market SHARE (%), 2016

FIGURE 17 Europe Virtual Power Plant Market BY Country, 2015-2023 (USD MILLION)

FIGURE 18 Asia-Pacific Virtual Power Plant Market SHARE (%), 2016

FIGURE 19 Asia-Pacific Virtual Power Plant Market BY Country, 2015-2023 (USD MILLION)

FIGURE 20 Rest of the World Virtual Power Plant Market SHARE (%), 2016

FIGURE 21 Rest of the World Virtual Power Plant Market BY Country, 2015-2023 (USD MILLION)