Virtual Power Plants

Global Market Trajectory & Analytics

MCP15512

EXECUTIVE ENGAGEMENTS

POOL

20519
Number of executives repeatedly engaged by snail & email outreach

INTERACTIONS

1847
Interactions with Platform & by Email

PARTICIPANTS

412
Unique # Participated

VALIDATIONS

86
Responses Validated*

COMPANIES

40
Responses Validated*
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DATE

JUN 2021

TABLES

62

PAGES

245

EDITION

7

PRICE

USD 4950

CODE

MCP15512


COMPETITIVE METRICS

COMPANY

D S N T

% *

ABB Ltd.

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Advanced Microgrid Solutions (AMS)

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AGL Energy Ltd.

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AutoGrid Systems, Inc.

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Blue Pillar, Inc.

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Cisco Systems, Inc.

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E.ON SE

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ENBALA Power Networks, Inc.

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EnBW Energie Baden-Wuerttemberg AG

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Enel X North America, Inc.

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SUBMIT
* D = Dominant; S = Strong; N = Niche; T = Trivial
* Validated respondents are incentivized with cluster data
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HIGHLIGHTS & REPORT INDEX

Global Virtual Power Plants Market to Reach $1.5 Billion by 2026

With traditional utilities stretched to the breaking point due to rapid population growth, urbanization and demands of the digital age, energy transformation is gaining momentum with new generation concepts like virtual power plants. Virtual power plants are garnering increasing attention in the energy industry owing to their compelling merits over conventional options. These plants are cloud-based distributed power systems capable of integrating different power sources to enhance power generation while ensuring reliable electricity supply. Virtual power plants facilitate selling and trading of energy on the electricity market. Virtual power plants are set to leapfrog and emerge as an integral component of the power sector in the coming years as they allow aggregators and utility companies to interconnect electricity generation from different distributed sources and plants. The relevance of these plants is anticipated to increase considerably owing to evolving energy landscape and significance in decentralized grid.

Amid the COVID-19 crisis, the global market for Virtual Power Plants estimated at US$413.5 Million in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2026, growing at a CAGR of 24% over the analysis period. Demand Response, one of the segments analyzed in the report, is projected to grow at a 23.8% CAGR to reach US$1.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Distributed Generation segment is readjusted to a revised 22.3% CAGR for the next 7-year period. This segment currently accounts for a 14.9% share of the global Virtual Power Plants market. Demand Response (DR), also called demand-side response or load response, encompasses a broad range of manual and automated measures taken at the consumer side of the meter to modify electricity usage in reaction to electricity demand-supply imbalances or exceptionally high power-prices. Future growth in the market will be driven by surging demand for Automated Demand Response (Auto-DR) technologies. Distributed generation systems are capable of generating electricity or combined heat and power, and are suitable for versatile applications such as continuous, peak, intermittent, or backup power supply. Favorable government policy changes, incentives and subsidies are catalyzing the growth of distributed generation systems.

The U.S. Market is Estimated at $269.7 Million in 2021, While China is Forecast to Reach $78.9 Million by 2026

The Virtual Power Plants market in the U.S. is estimated at US$269.7 Million in the year 2021. The country currently accounts for a 58.22% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$78.9 Million in the year 2026 trailing a CAGR of 30.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.1% and 23.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 23.9% CAGR while Rest of European market (as defined in the study) will reach US$101.3 Million by the end of the analysis period. Asia-Pacific continues to witness high growth as several areas especially in rural and remote areas in developing economies still do not have access to power grid or have limited or unreliable power supply. The growing drive for rural electrification, fast paced industrialization, and the rising demand for quality and reliable power from energy intensive industries are driving growth in the region. The huge void created by power plant retirements in developed economies in North America and Western Europe, and the ever-growing requirement for electric power from populous emerging economies, is unlocking new opportunities for distributed power generation.

Mixed Asset Segment to Reach $118 Million by 2026

In the global Mixed Asset segment, USA, Canada, Japan, China and Europe will drive the 30.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$22.6 Million in the year 2020 will reach a projected size of US$142.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.1 Million by the year 2026.

SELECT PLAYERS

ABB; Siemens; Schneider Electric; AutoGrid; 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

SEGMENTS

» Technology (Demand Response, Distributed Generation, Mixed Asset) » End-Use (Industrial & Commercial, Residential)

GEOGRAPHIES

» World » USA » Canada » Japan » China » Europe » France » Germany » Italy » UK » Rest of Europe » Asia-Pacific » Rest of World

TABLE OF CONTENTS

1. MARKET OVERVIEW
Growing Investments in Energy Infrastructure: The Cornerstone for Growth in the Market
Table: Growing Investments in Energy Infrastructure Provides a Launch Pad for the Rise & Proliferation of VPPs: Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
These are Times When Questions Abound & Answers Are Few
So How Fast Or Slow Are We Moving?
Table: How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
India’s Second Wave Makes It Clear That Equity is Not a Part of Global Policy on Tackling COVID
Table: What We Know So Far – “Vaccine Efficiency Against New Strains is Decreasing”
Progress on Vaccinations, Why Should Businesses Care?
With IMF’s Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback
Table: A Strong 2021 Economic Rebound Based On Pent-Up Demand Comes as a Relief for Suffering Industries & Markets: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
Table: Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
A Retrospective Review of Year 2020 as the Worst Year in Humanity’s History that Left the World in Shambles & Industries and Markets Upended
How the Energy Industry is Impacted by the Pandemic & What’s the New Normal?
TABLE: Global Energy Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
TABLE: Global Utilities Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
Beyond the Current Challenges, the Pandemic Will Fuel Our Energy Transition
TABLE: Global Clean Technologies Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
Virtual Power Plants (VPPs): Meaning, Importance, Functioning & Benefits
Recent Market Activity
Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Distributed Energy Generation: A Key Energy Transformation Goal & Foundation for the Rise of the Concept of Virtual Power Plants (VPPs)
Role of Virtual Power Plants (VPP) in a Decentralized Power Grid
Growing Value of Demand Response (DR) Throws the Focus on VPPs as an Effective Tool to Achieve DR Goals
Rise of Smart Cities & Smart Grids Bodes Well for Increased Investments in VPPs
Smart Cities Get a COVID-19 Boost
Table: Focus on Reshaping City Resilience to Future Pandemics & Crisis Will Spur Rejuvenated Spending on Smart City Projects in the Post COVID-19 Period, Providing a Goldmine of Opportunities for VPPs: Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
Smart Grid: A Critical Part of Energy Infrastructure in Smart Cities & a Strong Business Case for VPPs
Table: Global Smart Grid Market Opportunity (In US$ Billion) for Years 2021, 2023 & 2024
Growing Digitalization of Energy to Further Spur the Rise of VPPs
COVID-19 Fast-Forwards Digital Revolution Across Industries
Table: Over 60% of Companies in North America, Europe & Asia Expect to Witness Higher Velocity of Change in Digital Transformation During the Years 2020 through 2023: Global Digital Transformation Growth (In %)
Special Focus on Energy Digitalization
Table: Global Opportunities for Digital Technologies in the Energy Industry by Segment (In US$ Billion)
Table: IoT Makes Electricity Generation Efficient, Affordable and Sustainable: Global IoT in Energy Market (In US$ Billion) for the Years 2019, 2021, 2023, 2025 & 2026
Optimal Management of Renewable Energy Sources Throws the Spotlight on VPPs
Table: Rise of Renewables Throws the Spotlight on VPPs: Global Projected Net Capacity Additions of Renewable Energy (In GW) for the Period 2019 to 2024
Table: Growing Share of Renewables Against the Backdrop of the Focus on Decarbonization of Human Civilization to Open New Opportunities for VPPs: World Energy Production (In Billion Kilowatt Hours) by Energy Source for the Years 2020, 2030 and 2040
Concept of Blockchain-Based Decentralized Virtual Power Plants Gains Momentum & Preeminence
Table: Global Market for Blockchain Technology in the Energy Sector (In US$ Billion) for Years 2020, 2022, 2024 & 2026
Rise in Energy Trading to Benefit Market Growth
4. GLOBAL MARKET PERSPECTIVE
World Current & Future Analysis for Virtual Power Plants by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Virtual Power Plants by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027
World Current & Future Analysis for Demand Response by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Demand Response by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
World Current & Future Analysis for Distributed Generation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Distributed Generation by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
World Current & Future Analysis for Mixed Asset by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Mixed Asset by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
World Current & Future Analysis for Industrial & Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Industrial & Commercial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
World Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
UNITED STATES
USA Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
USA 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
USA Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
USA 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
CANADA
Canada Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Canada 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
Canada Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Canada 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
JAPAN
Japan Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Japan 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
Japan Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Japan 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
CHINA
China Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
China 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
China Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
China 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
EUROPE
Europe Current & Future Analysis for Virtual Power Plants by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Europe 7-Year Perspective for Virtual Power Plants by Geographic Region - Percentage Breakdown of Value Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2021 & 2027
Europe Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Europe 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
Europe Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Europe 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
FRANCE
France Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
France 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
France Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
France 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
GERMANY
Germany Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Germany 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
Germany Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Germany 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
ITALY
Italy Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Italy 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
Italy Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Italy 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
UNITED KINGDOM
UK Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
UK 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
UK Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
UK 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
REST OF EUROPE
Rest of Europe Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Rest of Europe 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
Rest of Europe Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Rest of Europe 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
ASIA-PACIFIC
Asia-Pacific Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Asia-Pacific 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
Asia-Pacific Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Asia-Pacific 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
REST OF WORLD
Rest of World Current & Future Analysis for Virtual Power Plants by Technology - Demand Response, Distributed Generation and Mixed Asset - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Rest of World 7-Year Perspective for Virtual Power Plants by Technology - Percentage Breakdown of Value Revenues for Demand Response, Distributed Generation and Mixed Asset for the Years 2021 & 2027
Rest of World Current & Future Analysis for Virtual Power Plants by End-Use - Industrial & Commercial and Residential - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Rest of World 7-Year Perspective for Virtual Power Plants by End-Use - Percentage Breakdown of Value Revenues for Industrial & Commercial and Residential for the Years 2021 & 2027
Total Companies Profiled: 40

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