A recent market intelligence report that is published by Data Insights Partner on Virtual Power Plant (VPP) Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Virtual Power Plant (VPP) Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and world Virtual Power Plant (VPP) Market
over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of international Virtual Power Plant (VPP) Market is offered. In accordance with the report, the Virtual Power Plant (VPP) Market is projected to expand at a CAGR of 25.4% over the period of forecast.
Market Insight, Drivers, Restraints & Opportunity of the Market:
The utility world has changed significantly in last few decades. A virtual power plant (VPP) is a, medium-scale power generating and network of decentralized units which includes solar parks and wind farms, combined heat and power (CHP) units as well as flexible batteries and power consumers. In addition, a virtual power plants aims at efficiently incorporating a high number of renewable power units into existing energy arrangements. Additionally, power distributer within a virtual power plant are able to use trading of renewable energies and live data to enhance forecasting. Across the globe, increasing the demand of smart grid technologies in residential and commercial storage energy system has added extra valuation towards the virtual power plant market. The virtual power plant technology has different advantages which includes reducing power flows issues or outage avoidance and provide better peak load management facilities. Various power distributors are now focusing on installation of virtual power plant to enhance their power distribution channel. Moreover, the Virtual Power Plant (VPP) Market is estimated a stable during the forecast period from 2019 to 2027 owing to increase in the number of smart grid installation across the part of the world.
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Geographically, global Virtual Power Plant (VPP) Market has been segmented into North America, Europe, Asia Pacific, Middle- East and Africa (MEA) and Latin America. In 2018, North America held the largest Market share in the Virtual Power Plant (VPP) Market across various regions. In North America the largest market for demand response where various power distribution companies are adopting this new technology to reduce power consumption to avoid the peak power prices or when the grid is overburdened. Additionally, owing to the widespread use of these technology in industrial and commercial as well as residential sector in North America it is expected to increase the market demand in coming years. Owing to significant economic growth in Power management and electrical segment, China, the U.S and the U.K among others are major market for this product market. The growing infrastructure development, especially in the various part of Asia-Pacific region is likely to drive the growth of the global Virtual Power Plant (VPP) Market. In coming years, wind mills integration with hydro pump storage systems is predicted to use the storage energy during off peak hours. This would be major factor to boost the demand of this product market. In addition, increasing focus on renewable power generation by government initiative in various countries such as U.S, Canada, Germany and France among other countries also acting as a driving factor in the growth for Virtual Power Plant (VPP) Market.
Global Virtual Power Plant (VPP) Market has been segmented on the basis of the technology, end use and geography. Based on technology, global Virtual Power Plant (VPP) Market is segmented into three types which includes demand response, distribution generation, and mixed asset. In 2018, the demand response segment held the highest market share among the other market segment of Virtual Power Plant market. This is primarily due to various advantages that demand response technology provides earning incentives and peak load management by participating in demand response program. On the basis of end use, global Virtual Power Plant (VPP) Market has been bifurcated into commercial, residential and industrial. In addition, Virtual Power Plant (VPP) market is growing in residential homes through participating in distributed generation, storage energy system and demand response program. Thus, residential segment is anticipated to grow at the fastest pace in coming years. Furthermore, increasing focus of renewable energy in the power generation mix and increasing focus towards generation of renewable power energy sources is expected to use these technology in coming years. This factor is expected to act as an important factor to grow the market demand of virtual power plant in coming years. On the flip side, radio frequency exposure from virtual power plant and health safety concerns regarding electromagnetic frequency is hindering the growth of this product market.
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as Siemens AG (Germany), Schneider Electric SE (France), ABB Ltd. (Switzerland), Cpower Energy Management (The U.S) General Electric ( The U.S.), Comverge, Inc. ( The U.S.), Limejump (U.K.), Robert Bosch GmbH (Germany), EnerNOC, Inc. (The U.S.), Hitachi, Ltd. (Japan) and Flexitricity (U.K.) among others.Contracts for design, installation, supply & agreements was the commonly implemented strategy by the major players in the Virtual Power Plant (VPP) Market in between 2015 to 2018 . Moreover, parameters such as Virtual Power Plant (VPP) Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2017-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
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Ø This study offers comprehensive yet detailed analysis of the Virtual Power Plant (VPP) Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2019 – 2027, taking into account 2017 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Virtual Power Plant (VPP) Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such Siemens AG (Germany), Schneider Electric SE (France), ABB Ltd. (Switzerland), Cpower Energy Management (The U.S) General Electric ( The U.S.), Comverge, Inc. ( The U.S.), Limejump (U.K.), Robert Bosch GmbH (Germany), EnerNOC, Inc. (The U.S.), Hitachi, Ltd. (Japan) and Flexitricity (U.K.) among others
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Virtual Power Plant (VPP) Market caters to the needs of various stakeholders pertaining to this industry, namely suppliers, product manufacturers, investors, and distributors for Virtual Power Plant (VPP) Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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